I read recent posts about sellers updating their bank information with their Transferwise account details. I also read the page on the Transferwise.com Adding TransferWise account details to your Amazon seller account (if anyone is interested here is the link: https://transferwise.com/help/17/borderless-account/2968914/adding-transferwise-account-details-to-your-amazon-seller-account ). I am also considering it because I am Italian, but I am selling only in the UK and would like to get my disbursements in £. However, when I asked Amazon via chat if I could update my bank information using Transferwise account details, they replied to me that it is not possible, only Payoneer is accepted.
You will need to contact Transferwise and ask them to provide you instructions how to update your Seller Account’s deposit method with their details. Amazon Seller Support won’t be able to assist with this.
When I dealt with Payoneer, they advised me to wait and change the bank account number just after a disbursement, as this would prevent triggering a verification.
You know, I am just worried that something goes wrong in the verification process and I get suspended, since I read terrible stories about that in the forum.
Unfortunately, this is the most common worry of sellers when talking about updating their account’s deposit method. I would like to assure you that nothing bad will happen, but I can’t.
There is a possibility that your account will get deactivated over it and may remain in this status for weeks. That’s why you should carefully reconsider if you are willing to risk it and if the Transferwise account is really necessary for you.
I had a manager from Payoneer trying to persuade me to use their service for weeks but the fear of a risk of a suspension over verification was higher.
Last time I changed my bank account information, I got suspended and it lasted for months, while Amazon was demanding me to provide notarized copies of various documents I did not have and had to request them from the authorities. So, never again.