Another part of the Participation Agreement, along with fee schedule and other important points with significant ramifications on the Seller’s Account, the payment terms define when and how the seller receives and delivers payments to and from Amazon.
Receiving Payments from Amazon
In general, Amazon will transfer funds from all marketplace sales to the seller’s predetermined bank account on a 14-day cycle starting from either the last transfer or the commencement of a new seller account. If a manual transfer is requested, then the cycle will begin again from the last confirmed request. Requests can be made every 24 hours, however, any change in banking information will put a 72-hour freeze on the seller’s account. This is done for security purposes to ensure the safety of the account by verifying the identity of the person requesting the transfer. Funds will generally appear in the seller’s bank account within three to five working days.
All payments made to the seller are the total sale prices of the items sold minus whatever fees and charges are owed to Amazon from the seller.
Making Payments to Amazon
Payment terms are activated according to date of sale and not necessarily of shipment, although, if a change has been made to the Participation Agreement concerning shipping or storage fees, then those changes may take effect as per shipping date.
Sellers can make payments to Amazon for the various fees and charges including monthly subscription fees, refund surcharges, and Fulfillment By Amazon fees, using prominent credit cards such as American Express, Visa, Diners Club or MasterCard.
Accessing Payment Reports
If a seller is interested in reviewing or tracking specific payments that have been made in the past, he can find much of the information within the Payment Reports section of the seller’s account.