University - Payment and Billing
Amazon Currency Converter FAQs
Because sellers may reside all over the world, and similarly, receive international orders, Amazon offers those sellers who have bank accounts in specific Amazon countries to be paid directly into local bank accounts, using the Amazon Currency Converter. Frequently Asked Questions (FAQs) are below.
Currencies Supported by Amazon
Sellers in the following countries may use the Amazon Currency Converter (listed alphabetically):
- Europe: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain
- Hong Kong
- New Zealand
- United Kingdom
- United States
The following currencies are eligible via this service:
- Australian Dollars (AUD)
- Canadian Dollars (CAD)
- Euros (EUR)
- Great British Pounds (GBP)
- Hong Kong Dollars (HKD)
- Indian Rupees (INR)
- New Zealand Dollars (NZD)
- United States Dollars (USD)
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Frequently Asked Questions (FAQs) and Their Answers
As with any kind of transaction that has multiple applications, sellers often have some of the questions below. Amazon tries to ease their processing by attempting to provide the information they need, at the ready.
How do sellers enter their bank details?
In Settings, click Seller Account Information.
- Click Edit.
- From the drop-down menu at Bank Location Country, select the appropriate country.
- If outside of the United States, read and accept the Terms and Conditions under Bank Account.
- Enter bank account information.
- Click Submit.
How do sellers get paid in non-U.S. countries that support the Amazon Currency Converter for sellers?
Accepting the Terms and Conditions at the time of entering the non-U.S. bank account is sufficient to receive payments that are automatically transferred into the local currency in the account.
Once the specified terms have been agreed to and all bank information has been properly entered, payments will automatically be transferred to the seller’s chosen bank account. The money will be deposited in the current currency of the country of the bank account. Payments will be made regularly and will not be delayed or interrupted because of international transfer protocol. Note than adding or changing bank account information can delay transfers of payments up to fourteen days.
Do international transfers take longer?
There may be delays of a few minutes, but no longer than that.
Can sellers receive payment in local currencies in banks located in countries that are not on the list of those supported by the Amazon Currency Converter for sellers?
Not at this time.
All fees and charges are included in the applicable exchange rate. All sellers with a positive balance in their seller accounts may click View Exchange Rate on the Payment Summary page.
Why isn’t Amazon’s exchange rate the same as that listed on currency websites, in newspapers, and the like?
The exchange rates listed publicly tend to be inter-bank or wholesale rates; that said, Amazon does all it can to make sure that sellers enjoy a competitive exchange rate.
Transfers will be made according to the current exchange rate documented under the View Exchange rate button on a Seller’s Payment Summary Page. The listed rate may vary from those listed in other sources due to wholesale or inter-bank rates that are not applicable for all businesses. Rates are according to the date of (attempted) transfer, not the date the order was placed for delivery or confirmation dates.
Does the credit card, phone number, and billing address required during registration need to be based in the United States?
No, they do not, but credit cards must be able to accept international charges.
Can sellers based outside of countries supported for use of the Amazon Currency Converter for sellers register to use the service?
No. To be able to sell on Amazon’s platform, sellers must have a valid billing address in one of the accepted seller registration countries, as well as a credit card that may receive international charges.
What are the tax implications of using the Amazon Currency Converter outside of the United States?
Sellers with this question should speak to someone with the appropriate credentials in their countries to advise them on tax-related concerns. It is beyond the purview of the guidance that Amazon provides for its sellers.
All sellers are advised to inquire and adhere to local taxation laws according to their country’s legal system. Documentation for sales and transactions will be rendered in the currency of the marketplace in which the goods were sold. For example, items sold on www.Amazon.com will be documented in U.S. dollars.
How long does it take for a change in a given bank account to go into effect?
Amazon releases funds from the Seller Account to new registrants after 14 days. Similarly, changes to bank details may delay disbursement by up to 14 days.
What date is used to determine the correct exchange rate, given that each order has several dates that are potentially significant (the day the order is made, the day delivery is confirmed, or the date of disbursement)?
The day disbursement to the seller’s bank account is initiated is the date used to determine the exchange rate. Unsuccessful attempts at disbursing funds into a seller’s local account will result in a transfer of funds in U.S. Dollars (USD) to the Amazon Seller Account, and any subsequent attempt will be made at the exchange rate for the date of the new attempt.
Do sellers receive documents confirming payments and the like that reflect the local currency (for example, for tax purposes)?
Documents reflect the functional currency of the relevant marketplace (USD for Amazon.com, CAD for Amazon.ca, GBP for Amazon.co.uk, and EUR for Amazon.de, Amazon.fr, Amazon.es, and Amazon.it).
What exchange rate is used for sellers who are issuing refunds, and what happens if the exchange rate has changed from the time of purchase to the time of refund?
Refunds are made in the currency of the relevant marketplace, the same one used for the purchase (USD for amazon.com, CAD for amazon.ca, GBP for amazon.co.uk, and EUR for amazon.de, amazon.fr, amazon.es, and amazon.it), which means that exchange rate fluctuations do not have an impact on the refund.
However, some banks or credit card companies may have varying rules about transfers of international funds. Please contact the specific bank or card issuer for detailed rates and charges.