A question which bothers most Amazon entrepreneurs is, how to transfer money from Amazon for non-US residents with minimal commission? You may get an impression that you’ll need to go through many jurisdictional procedures (because the money is in a different country and currency!) and spend a part of revenue on taxes and commissions. In fact, everything is not that hard if you dive into the process of money transfer. And that’s what we did.
Let’s clarify from the start that you can’t transfer money to PayPal, it’s mostly used to pay to suppliers. To get money from Amazon, you’ll need a bank account, registered in one of the Eurozone countries, Australia, New Zealand, India, Hong Kong or Canada. If you have not — great, just fill out the necessary data in Account Settings in Seller Central.
Those, who don’t have a bank account in one of the listed countries, would need to use Payoneer payment system. Since 2015, Amazon is officially cooperating with Payoneer, so using it is legal.
Everything you should do is order a Payoneer card and tie it to the Amazon account.
You’ll get a Payoneer card by mail for free during 2-3 weeks after registration. If you don’t want to wait for so long, there’s an option to get it delivered by DHL in a week for $40. The card service costs $29.95 per year. You don’t pay fees for purchasing goods online and offline but there’s a commission $3.15 for getting cash in ATMs. You can get cash in ATMs in your country’s currency or transfer them to Privat24 (Ukraine).
Payoneer system lets you open a collection account in the American bank. This free service is called US Payment Service. You can send an inquiry in your Payoneer account right after registration but there’s no need to wait till the card will be delivered. As soon as your account opens, fill out its data to Amazon account.
Payoneer gives an additional $25 bonus after the replenishment balance is bigger than $100. You can register an account with bonus by following the link.
In seller central go to “Settings” > “Account Info” > “Deposit Method” > “Edit” insert Payoneer account data (find it in Payoneer personal account it “Receiving” menu). Choose USA as the default country. After that, Amazon will be transferring revenue to the mentioned account.
Amazon transfers money automatically once in two weeks. You can see the date of the next transaction in the menu “Reports”>”Payments”. If you don’t want to wait for 2 weeks till the next money transfer, you can initiate manually (“Request transfer” in menu “Payments Report”).
Remember, how during account registration you mentioned the credit card data? You need it to prove your persona in the first place, and Amazon won’t be transferring money to it. But if you don’t have sales and there’s loss instead of revenue, Amazon will charge money from this account. Always check if the information is valid and if the card hasn’t expired. And disable the limitation to online payments.
As you see, there’s nothing difficult and supernatural in transferring money from Amazon. The company is interested in creating comfortable conditions for doing business, so we hope this process will become simpler.
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