Amazon Question

[surcerouche]

Do I have to have a checking account when setting up to sell, or can it be a savings account. I mean can Amazon really tell by the routing/account number which type of account it is.

[bluemoon999]

This is what I found on the Amazon site:

Bank Account Information for Your Seller Account

All funds resulting from the sales of merchandise or services that were paid for through the use of Marketplace Payments by Amazon can only be deposited into a seller's checking account. For sales on Amazon.com, Marketplace Payments can be credited only to bank checking accounts in the United States.

[FrancisK]

Originally Posted by surcerouche

Do I have to have a checking account when setting up to sell, or can it be a savings account. I mean can Amazon really tell by the routing/account number which type of account it is.

As blue stated you do indeed need to have a checking account. Although the name on the account isn't of any consequence, Amazon does not see that. Have you considered BofA with their online accounts? Very easy and friendly interface to use for multiple accounts.

-Francis

[GreenBean]

To the OP, any bank account/checking account in the world can be identified by ordinary people IF they have access to the relevant database.

amazon,ebay,paypal have access to even better information. SO yep, they will ID the account numbers to decide.

[ovidiu]

Federal law prohibits this. If these image-sensitive corporations really were finding this stuff out in an illicit manner, they certainly wouldn't continue letting stealth accounts live while risking government ire.

[GreenBean]

^^^Soz I gave your heartfailure. Amdended my post to define things better

[ovidiu]

Nah, just wanted to point it out. The fact is that I don't believe (in the US, anyway) that eBay or Amazon is doing any name checking on bank accounts. Occasionally a bank may disclose this info for whatever reason, but this is illegal and hardly an everyday matter. Since US law prohibits them from checking names, various methods have been devised to establish your ownership of the account in question, such as verifying the amount of small deposits into your account.

[GreenBean]

I agree. Amzon does determine the type of account by number checking (BIN).

[NO ID]

Savings account is fine!!!

[phson01]

saving account is fine, I have three accounts using saving accounts, they are being credited without any problem.

[surcerouche]

No ID and Phson01....are you serious????
amazon accepts seller accounts with savings accounts...
if that is true...you guys have just changed my life...hehehehe
THANKS!!! =O)

[ovidiu]

I'm not sure I understand what the big deal is, though. Checking accounts are very easy to open???

[phson01]

Originally Posted by surcerouche

No ID and Phson01....are you serious????
amazon accepts seller accounts with savings accounts...
if that is true...you guys have just changed my life...hehehehe
THANKS!!! =O)

Yes I am serious. I have been using saving accounts for a long time, because many online direct banks (like FNBO) only offer saving account, and they are fairly easy to open.