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Old 07-23-2020
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Default Veteran Seller - Updating Bank Account Help

Hello, I've heard horror stories of updating your bank account on Amazon (suspensions, holds, etc). We are switching banks and will update the details next week with Amazon. We have setup a business bank account instead of personal to better track expenses/receipts/etc.

Since we are a veteran seller, we want to make sure we take the necessary proactive steps to prepare Amazon for this change. I've already emailed payments team and seller performance team at Amazon of the upcoming change. Is that all I need to do?

Anything else I need to be careful of?

Will they require additional verification since I am a veteran seller? It's a new bank account so not sure I will have statements within a week if they need them.

Thanks for all your help!
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Old 07-24-2020
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Default Re: Veteran Seller - Updating Bank Account Help

On solid account nothing actually happen but never know if Amazon decided to verification again or maybe they just ask bank statement
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Old 07-24-2020
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Default Re: Veteran Seller - Updating Bank Account Help

Always a potential risk OP but it is very low and unlikely to trigger verification - you seem ready anyhow with your steps taken
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Old 07-24-2020
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Default Re: Veteran Seller - Updating Bank Account Help

Don't worry, if your acc is aged, with selling history, etc.
99% you won't have any issues changing bank accounts.

Just make sure the account is fresh and never used with any other amazon account.
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Old 07-24-2020
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Default Re: Veteran Seller - Updating Bank Account Help

With history/cookies saved updating the bank with the same IP you've been using on your account should be no issue

You could add your stealth shop name as an extra business name on the business checking account so if your bank has a problem with mismatching name withdraws, they will see its part of your business
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Old 07-24-2020
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Default Re: Veteran Seller - Updating Bank Account Help

AMZN will ask you to enter your existing bank account information before you replace it with a new bank account..
AMZN comes up with this new requirement because a third party seller complained someone hacked into his AMZN account and replace his bank account with another bank account and transferred $80k.
When he asked what bank /account did the hacker transfer his money to,AMZN refused to disclose.
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Old 07-24-2020
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Default Re: Veteran Seller - Updating Bank Account Help

Quote:
Originally Posted by mrjosh99 View Post
Hello, I've heard horror stories of updating your bank account on Amazon (suspensions, holds, etc). We are switching banks and will update the details next week with Amazon. We have setup a business bank account instead of personal to better track expenses/receipts/etc.

Since we are a veteran seller, we want to make sure we take the necessary proactive steps to prepare Amazon for this change. I've already emailed payments team and seller performance team at Amazon of the upcoming change. Is that all I need to do?

Anything else I need to be careful of?

Will they require additional verification since I am a veteran seller? It's a new bank account so not sure I will have statements within a week if they need them.

Thanks for all your help!
Well , make sure you still have your old bank account.
They'll ask you to enter the old account number before you can enter the new one at the very least.
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Old 08-10-2020
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Default Re: Veteran Seller - Updating Bank Account Help

Hey guys,

What about changing the address??
Many sellers will be changing the address now due to the Amazon policy of showing registered address starting on Sept 1st. Will changing the address to a virtual address trigger a verification on an aged account? Has anyone experienced this??
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Old 08-10-2020
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Default Re: Veteran Seller - Updating Bank Account Help

Quote:
Originally Posted by slickist View Post
Hey guys,

What about changing the address??
Many sellers will be changing the address now due to the Amazon policy of showing registered address starting on Sept 1st. Will changing the address to a virtual address trigger a verification on an aged account? Has anyone experienced this??
Nothing new They been showing in uk and EU from many years
Address change will trigger verification
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Default Re: Veteran Seller - Updating Bank Account Help

Quote:
Originally Posted by e2free View Post
Nothing new They been showing in uk and EU from many years
Address change will trigger verification

Not in the USA
It's diff here
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  #11  
Old 08-10-2020
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Default Re: Veteran Seller - Updating Bank Account Help

Address change or any changes in USA can trigger verification.
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Old 08-10-2020
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Default Re: Veteran Seller - Updating Bank Account Help

I would wait a few months with seller history and cookies on your browser before making any critical changes.
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