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- Amazon
( https://www.aspkin.com/forums/amazon/)
| amzrocket | 04-26-2023 08:57 AM |
Re: Action required: Verify your Amazon seller bank account information
Isn't the fact they're doing this by asking the seller for a bank statement kind of a good thing?
It means they can't verify the information directly with the bank |
| estrada | 04-26-2023 01:40 PM |
Re: Action required: Verify your Amazon seller bank account information
Any idea how long it takes? Is everyone seeing the button yet? |
| e2free | 04-26-2023 05:00 PM |
Re: Action required: Verify your Amazon seller bank account information
No fox for that, they upgraded the system and targeted the sellers where their account name does not match |
| estrada | 04-27-2023 10:46 AM |
Re: Action required: Verify your Amazon seller bank account information
I keep checking but no button. |
| amzprostl | 04-27-2023 05:53 PM |
Re: Action required: Verify your Amazon seller bank account information
From some posts from amazon moderators in the forums, they are saying to check back May 1st for the button to reappear and submit info then.
I went to bank today and was not able to change existing bank account to the matching LLCs on the Amazon accounts. So I just opened a new bank account for each of my LLCs so that the name will match. I will get creative with the statement for now and then once I pass that I will switch over to the new bank account closer to the end of the new bank account's first month so I'll have a statement available if requested. And in the future I'll just open a bank account for the LLC right away to use for the Amazon account. Hopefully it all works out. |
| Kingcookie | 04-27-2023 08:32 PM |
Re: Action required: Verify your Amazon seller bank account information
Any solution to open banks fast in USA? Bank of America takes 2 hours to open a single bank |
| estrada | 04-29-2023 04:27 AM |
Re: Action required: Verify your Amazon seller bank account information
Chase are pretty fast. Quote:
Originally Posted by Kingcookie
(Post 1215863)
Any solution to open banks fast in USA? Bank of America takes 2 hours to open a single bank
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Re: Action required: Verify your Amazon seller bank account information
TD and PNC are pretty quick too |
| estrada | 04-29-2023 01:59 PM |
Re: Action required: Verify your Amazon seller bank account information
Yes PNC is pretty quick Quote:
Originally Posted by rsot
(Post 1215957)
TD and PNC are pretty quick too
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| Porsche032 | 04-30-2023 12:25 PM |
Re: Action required: Verify your Amazon seller bank account information
Quote:
Originally Posted by amzprostl
(Post 1215555)
That's a good solution for future accounts, but with current amazon accounts that have a mismatched bank name, it may not be very easy to convince amazon. They can be very picky. And it can lead to a long reinstatement hell.
With current accounts with mismatched name on bank account, what do you think the best solution will be?
Remove the current bank account and add it again with the name that matches the bank account name, even if it doesn't match the Amazon account? (will amazon really go for this one?)
Or
Go to your bank and see if they can change the bank account to the amazon LLC name? They may need to open a new bank account for the correct LLC name. If that is the case, it would take 30 days for a bank statement to be available. So it would really make reinstatement difficult.
| From what I read online the IRS is forcing all marketplace sellers with LLCs to use their personal SSN instead. Check this article https://www.valueaddedresource.net/a...count-id-info/
All these verifications are because of this INFORM act that they passed. |
| amzprostl | 04-30-2023 05:06 PM |
Re: Action required: Verify your Amazon seller bank account information
Quote:
Originally Posted by Porsche032
(Post 1216057)
| That's for single member LLCs, so let's hope Amazon figures out that there is a difference and will allow for different requirements for multiple member partnership LLCs. Knowing Amazon, that might be a longshot :tears: |
| famazon | 05-01-2023 07:34 AM |
Re: Action required: Verify your Amazon seller bank account information
The button is now showing under manage deposits page. My question was if we need to submit the complete statement or just the 1st page with account holder name, account number, address? Also, can the rest part of the statement with debits, credits and payer name etc be removed from statement? |
| Porsche032 | 05-01-2023 07:40 AM |
Re: Action required: Verify your Amazon seller bank account information
Quote:
Originally Posted by famazon
(Post 1216114)
The button is now showing under manage deposits page. My question was if we need to submit the complete statement or just the 1st page with account holder name, account number, address? Also, can the rest part of the statement with debits, credits and payer name etc be removed from statement?
| No, you need to include every page. |
| amzprostl | 05-01-2023 03:26 PM |
Re: Action required: Verify your Amazon seller bank account information
Quote:
Originally Posted by Porsche032
(Post 1216117)
No, you need to include every page.
| Well the verify button is finally there, but of course when I click it, it shows a different name there then the current business LLC on the account. I guess because it was a stealth account created under a different name originally. It shows the original name.
So, I guess I will need to be creative with the bank statement and make sure it shows the original name and not the current account business entity LLC |
| emily | 05-01-2023 10:27 PM |
Re: Action required: Verify your Amazon seller bank account information
Quote:
Originally Posted by amzprostl
(Post 1216140)
Well the verify button is finally there, but of course when I click it, it shows a different name there then the current business LLC on the account. I guess because it was a stealth account created under a different name originally. It shows the original name.
So, I guess I will need to be creative with the bank statement and make sure it shows the original name and not the current account business entity LLC
| Is it working? |
| Apexpursuit | 05-01-2023 10:43 PM |
Re: Action required: Verify your Amazon seller bank account information
Quote:
Originally Posted by amzprostl
(Post 1216065)
That's for single member LLCs, so let's hope Amazon figures out that there is a difference and will allow for different requirements for multiple member partnership LLCs. Knowing Amazon, that might be a longshot :tears:
| Just a reminder that Amazon can’t tell whether your LLC is a single member or not based on the ein alone. I filed my LLC as a partnership with amazon even though it is a single member LLC specifically so I would not need to add my ssn. |
| Apexpursuit | 05-01-2023 10:46 PM |
Re: Action required: Verify your Amazon seller bank account information
Quote:
Originally Posted by amzprostl
(Post 1216140)
Well the verify button is finally there, but of course when I click it, it shows a different name there then the current business LLC on the account. I guess because it was a stealth account created under a different name originally. It shows the original name.
So, I guess I will need to be creative with the bank statement and make sure it shows the original name and not the current account business entity LLC
| Can’t you just tell them that bank account is closed and you no longer have access to that information? |
| famazon | 05-01-2023 11:44 PM |
Re: Action required: Verify your Amazon seller bank account information
I got the bank verification mail on one account which had matching business name for which verification is in progress.
Two others got also hit which were video verified and were purchased.
Any idea if creative bank statement works? I cannot change the account holder name on amazon when we click verify; it shows the old name that was used to open the account. |
Re: Action required: Verify your Amazon seller bank account information
Quote:
Originally Posted by Apexpursuit
(Post 1216145)
Can’t you just tell them that bank account is closed and you no longer have access to that information?
| if only it were just so simple to work with this info... |
| estrada | 05-03-2023 03:55 AM |
Re: Action required: Verify your Amazon seller bank account information
Creativity won't work they will detect it immediately and you will cause more issues for yourself as any LLCs with a similar address will then be flagged. Quote:
Originally Posted by famazon
(Post 1216146)
I got the bank verification mail on one account which had matching business name for which verification is in progress.
Two others got also hit which were video verified and were purchased.
Any idea if creative bank statement works? I cannot change the account holder name on amazon when we click verify; it shows the old name that was used to open the account.
Looking for a pro to get a creative statement as thats the last option I guess.
| |
Re: Action required: Verify your Amazon seller bank account information
Quote:
Originally Posted by famazon
(Post 1216146)
I got the bank verification mail on one account which had matching business name for which verification is in progress.
Two others got also hit which were video verified and were purchased.
Any idea if creative bank statement works? I cannot change the account holder name on amazon when we click verify; it shows the old name that was used to open the account.
Looking for a pro to get a creative statement as thats the last option I guess.
| if you get pm's about this, be careful with whom you deal with - due diligence |
| estrada | 05-03-2023 05:30 AM |
Re: Action required: Verify your Amazon seller bank account information
Yes! RSOT is helpful as always. Do NOT respond to PMs about this. Quote:
Originally Posted by rsot
(Post 1216236)
if you get pm's about this, be careful with whom you deal with - due diligence
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