Amazon. com Help: Currency Converter Supported Currencies

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Amazon Currency Converter for Sellers - FAQ

Amazon Currency Converter for Sellers is an optional service that allows Amazon sellers to receive the proceeds of their earnings into their local bank account if that account is located in a different country or region from the marketplace on which they are selling.

My bank is located in a different country/region from the Amazon marketplace I am selling on. How do I register my bank account?

Follow the same steps as for a bank located in the country or region of the Amazon marketplace that you are selling on.

In the Settings menu, select Account Info. In the Deposit Method section, click Edit. In the Deposit Method Details pop-up, click Edit in the section for the marketplace that you want to change. Select Use a New Bank Account. Select the country or region of your bank account from the drop-down menu next to Bank Location. Fill in the requested bank account information. Make sure that you read the terms and conditions of the Amazon Currency Converter for Sellers Agreement, then click the check box to confirm that you have done so. Click Submit.

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

When you enter a US bank account, you must accept the terms and conditions for using Amazon Currency Converter for Sellers to receive payment to that bank account. Your funds will be transferred automatically to your US bank account in US dollars.

No. Your payments may be delayed by a few minutes, but you should receive your funds into your bank account on the same date as you did with your Canadian bank account.

My bank is not based in the US or Canada. Can I get paid into my local bank in my local currency?

Amazon Currency Converter for Sellers currently supports these countries/regions and currencies.

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

If you have entered a US bank account and have a positive balance in your seller account, you can view the applicable exchange rate for transfers to your bank account by clicking the View Exchange Rate button on the Payments page. The applicable exchange rate includes all fees and charges related to your use of Amazon Currency Converter for Sellers.

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.

If I want to issue a refund, will the same exchange rate apply? Is there a way to make sure the buyer gets the amount I promised if the exchange rate has changed in the meantime?

Refunds to buyers on Amazon. ca are made in the website currency (i. e. Canadian dollars) and as such are not subject to any exchange rate fluctuations. However, it is possible that a card issuer or bank may apply a new exchange rate and a conversion fee to the refund if a non-Canadian credit/debit card was used for the purchase and the refund was made to that card. Buyers may contact us when this happens, and we advise them to contact their card issuer or bank for an explanation of the exchange rate and any charge applied to the refund.

What about the credit card, billing address and phone number needed for registration? Do they need to be Canadian-based?

No, you do not need a Canadian-based credit card, billing address and phone number to register. You can register to sell on Amazon. ca if you are a resident in one of the many accepted seller registration countries/regions. Please note that your credit card must be able to accept international charges.

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. Please contact your tax adviser with questions about your specific circumstances.

My bank account has changed. How long do I have to wait to get my funds to my new bank account?

If you add or change your bank account information, fund transfers to that bank account may be delayed up to 14 days.

Can I change my settings in my seller account so that all my order information is displayed in USD?

No. All transaction and reporting information in your seller account will be displayed in Canadian dollars. Only fund transfer amounts will be shown in US dollars for sellers who use Amazon Currency Converter for Sellers.

What is the Estimated Exchange Rate that is shown when I click "View Estimated Exchange Rate"?

The Estimated Exchange Rate is used to calculate an estimated amount of each pending Disbursement and/or Reverse Transaction in Your Bank Location Currency. The Estimated Exchange Rate is provided to us by our bank service provider at the time we estimate a pending Disbursement and/or Reverse Transaction. Because exchange rates fluctuate frequently, when we process your Disbursement and/or Reverse Transaction, our bank service provider might apply an exchange rate that differs from the estimated exchange rate. We try to ensure that we receive a competitive exchange rate from our bank service provider to facilitate Disbursements and/or Reverse Transactions in Your Bank Location Currency.

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

Please see our instructions for Selling from India.

Amazon Currency Converter for Sellers - FAQ

Amazon Currency Converter for Sellers is an optional service that allows Amazon sellers to receive the proceeds of their earnings into their local bank account if that account is located in a different country or region from the marketplace on which they are selling.

My bank is located in a different country/region from the Amazon marketplace I am selling on. How do I register my bank account?

Follow the same steps as for a bank located in the country or region of the Amazon marketplace you are selling on.

In the Settings menu, select Account Info. In the Deposit Method section, click Edit. In the Deposit Method Details pop-up, click Edit in the section for the marketplace you want to change. Select Use a New Bank Account. Select the country or region of your bank account from the drop-down menu next to Bank Location. Fill in the requested bank account information. Make sure you read the terms and conditions of the Amazon Currency Converter for Sellers Agreement, then click the check box to confirm that you have done so. Click Submit.

If I register a bank account located in a different country/region from the marketplace 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 the Amazon Currency Converter for Sellers.

Do payments made using the 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.

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. You can view the exchange rate by clicking the View Exchange Rate button on the Payment Summary page you receive when transfers are made to your account.

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 the one of the following names: Amazon, HSBC, or Amazon and HSBC. Contact your bank if you need more information.

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.

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.

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 marketplace on which you are selling.

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 currencies.

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

See our instructions for Selling from India.

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):

Australia Canada Europe: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain Hong Kong India 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)

Stay on top of the latest e-commerce and marketplace trends.

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 In formation.

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.

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.

Are there fees or hidden costs in using the Amazon Currency Converter for Sellers?

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.

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 for Sellers 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.

How long does it take for a change in 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?