This article applies to selling in: Singapore

Amazon Currency Converter for Sellers (ACCS): FAQ

Amazon Currency Converter for Sellers is an optional service that allows you to receive the net proceeds of your earnings into your local bank account if that account is located in a different country or region from the store that you are selling on.

Are there any additional fees for using the Amazon Currency Converter for Sellers?

All fees and charges related to your use of Amazon Currency Converter for Sellers are included in the exchange rate. To view the exchange rate of the transfers received in your account, hover over the estimated disbursement amount in the Payments Dashboard.

What are the different tiers and fees for sellers using Amazon Currency Converter?

Volume-based fees are based on the tier defined by a seller's total cross-currency (from Store country’s currency to Seller’s home country’s currency) net proceeds during the trailing 12 months across all Amazon stores. Tiers for sellers will be calculated monthly and automatically updated. The higher your net proceeds, the lower your fee. Your total net proceeds are calculated based on your total disbursed volume, whether you used ACCS or other payment service providers in the past.

The different volume bands for each tier are outlined in the following table:

Cross-currency Net Proceeds Volume-based Fees (CNY only) Volume-based Fees (other currencies besides CNY)
≥ USD 10M+ 0.40% 0.75%
≥ USD 1M<10M 0.50% 1.00%
≥ USD 500K<1M 0.60% 1.25%
≥ USD 100K<500K 0.70% 1.50%
<100K 0.90% 1.50%

Where are volume-based fees available?

Volume-based fees are available for all currencies supported by Amazon Currency Converter globally with the exception of Sellers who are paid in CHF can use Amazon Currency Converter at a flat rate of 1.5% regardless of tier. Volume-based fees do not apply to seller disbursements processed through Hyperwallet. For the full list of currencies supported by Amazon Currency Converter for Sellers, go to Countries, regions and currencies supported by Amazon for disbursement.

Do my net proceeds include all my global accounts for volume-based fees?

Yes, when your global selling accounts are linked. You can go to Seller Central and use the Merging accounts (Previously referred to as Linking accounts) function to connect all your regional accounts, and we will take care of applying the lowest rate available on your business.

Here is an example:

A Germany-based seller earned $500K on, $300k on, and $300k on over the past 12 months. If the seller does not use Merging accounts, we would offer the seller:

US: $500k -> 1.5%

UK: $300k -> 1.5%

JP: $300k -> 1.5%

If the seller uses Linked Accounts, we will lower the fee. This will save the seller $5,500.

Total Net Proceeds (US+UK+JP) = 1.1 MM -> 1.0%

Follow the below steps for a bank located in the country or region of the Amazon store you are selling on.

  1. In the Settings on Seller Central and select Account info.
  2. In the Payment Information section, click Bank Account Information.
  3. In the Deposit Methods page, click Assign in the section for the store you want to change.
  4. Select Use a new bank account.
  5. Fill in the requested bank account information with all fields completed accurately. Ensure that you read the terms and conditions of the Amazon Currency Converter for Sellers agreement, and then select the check box to confirm.
  6. Click Submit.

Why are my identification or license numbers required for bank account registration?

Certain bank location countries (such as China) require additional steps for identity verification driven by local regulations. If the information you provide (such as national ID, business license, account holder name) is invalid or does not match your bank’s records, your disbursement will be rejected and funds will return to your seller account.

For sellers who want to receive TWD disbursements, we require that you have a valid phone number and email address on your Seller Central account. We may share this data with our bank service providers and your beneficiary bank, who may reach out to you for further transaction validations.

If I register a bank account located in a different country/region from the store I am selling on, how will I be paid?

Once your bank account is registered, all payments will be automatically made to that account in the local currency of the bank location country using Amazon Currency Converter for Sellers.

Do payments made using Amazon Currency Converter for Sellers take longer to arrive in my bank account?

No. However, the first payment after you add or change bank account details might be delayed up to 14 days.

What will appear on my bank statement when I receive payments from Amazon Currency Converter for Sellers?

Depending on your bank, the payment will have one of the following names: Amazon, HSBC, Souq, or Amazon and HSBC. Contact your bank if you need more information.

Which exchange rate will be applied to my payment?

Amazon Currency Converter for Sellers uses the exchange rate of the day the transfer to your bank account is initiated. For failed disbursements, this is the exchange rate of the day the transfer is re-initiated.

Why does the exchange rate used by Amazon Currency Converter for Sellers not match the one I see in newspapers?

The exchange rates you see in newspapers or other print media are generally wholesale or inter-bank rates. Amazon works to ensure our sellers receive a competitive exchange rate.

Can I choose the currency for my disbursements?

Disbursements can only be made in the home currency of the country where the bank account is located. For example, if your bank account is located in the UK, then disbursements can only be made in GBP, even if your bank account is capable of accepting deposits in both GBP and EUR.

Can I receive payment to a bank account that is not listed in the “Bank Location” drop-down menu?

No. Only the countries and regions that are present in the drop-down menu are supported. If your bank location is not in the drop-down menu, you can use a bank account issued by Acceptable bank accounts and Payment Service Providers (PSP). To view the current list of payment service providers, go to Disbursement Solutions.

What are the tax implications of my earnings being converted into another currency before being transferred into my local bank account?

Amazon is not in a position to provide advice or comment about your tax obligations. Contact your tax advisor with questions about your specific circumstances.

Will I receive documents denominated in my local currency that I can give to local tax authorities?

All documents provided by Amazon will be in the functional currency of the store on which you are selling.

How can I obtain a Foreign Inward Remittance Certificate (FIRC) for inward remittances entering India?

For information on obtaining a FIRC, go to Selling from India.

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