Does name on bank account need to match name on Amazon seller account?
When you fill in the deposit method on Amazon.com, it says the Account Holder's Name must match the bank account exactly, but is that actually necessary?
If I just lie to Amazon about the account holder's name, would that actually create a problem?
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Re: Does name on bank account need to match name on Amazon seller account?
It depends on the bank if they accept the deposit, the big ones do not care, the small mama and papa banks and credit unions may reject payments. First Citizens, Truist, PNC, Bank of America do not have issues with this.
Quote:
Originally Posted by agent006140
But would his bank accept the deposit coming from AMZN ??
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Re: Does name on bank account need to match name on Amazon seller account?
After you change the AMZ account's legal entity to your own business, you can link the bank account for that business to the Amazon account and write your legal entity's name for the bank account holder field.
Re: Does name on bank account need to match name on Amazon seller account?
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Originally Posted by longr2512
After you change the AMZ account's legal entity to your own business, you can link the bank account for that business to the Amazon account and write your legal entity's name for the bank account holder field.
The thing is I want to have a bunch of different legal entities for the Amazon accounts (as they won't allow 1 entity to open multiple accounts), but I want to have a single bank account (with different account numbers) as it's suspicious if you go open bank accounts for a dozen different corporations.
Re: Does name on bank account need to match name on Amazon seller account?
Quote:
Originally Posted by amzrocket
The thing is I want to have a bunch of different legal entities for the Amazon accounts (as they won't allow 1 entity to open multiple accounts), but I want to have a single bank account (with different account numbers) as it's suspicious if you go open bank accounts for a dozen different corporations.
Might trigger IRS audit if your numbers get large enough. Much cleaner if each Amazon account's payouts flow to its respective legal entity's bank account. You fill out a W9 for each Amazon account so you will receive a 1099k for each entity at end of year. But if all of your funds are being deposited in one entity's bank account, that might cause red flags.
Don't think banks care. Each entity is a separate business. If you're worried, just go to a different bank per entity. I'm warming up 5-10 accounts right now and opened across different banks.
Re: Does name on bank account need to match name on Amazon seller account?
IRS will crosscheck ,if they see a deposit or withdrawal from another bank account,they want to see that account and from that bank account,they see another account,they want to see that one too.
In the end,they see all your accounts.
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Re: Does name on bank account need to match name on Amazon seller account?
Quote:
Originally Posted by amzrocket
When you fill in the deposit method on Amazon.com, it says the Account Holder's Name must match the bank account exactly, but is that actually necessary?
If I just lie to Amazon about the account holder's name, would that actually create a problem?
This was not an issue until just last week. Amazon has done a massive sweep and it appears that they can now see if it is a mismatch and they will request additional bank statement to verify the bank. Just fyi, for future it looks like you will need to have names match.
Re: Does name on bank account need to match name on Amazon seller account?
Etsy has said the name you open an Etsy account must agree with the name on your bank account,so there must be a way to verify such.
Your shop name does not matter,say you are John Doe and your shop is Lazybone,thats fine
If Etsy can,so can AMZN
Does name on bank account need to match name on Amazon seller account? 
