Amazon efn collecting funds from germany bank account?

Hello I have an odd question.

I just started selling with amazon EFN with my UK business account and amazon has asked me to provide bank account information.

My question is do i provide my uk bank account and is it going to cost me anything or should I use a service like transferwise (I dont know anything about transfer wise just heard lots about it)

Thanks

When selling on Amazon EFN (European Fulfillment Network) with your UK business account, you will indeed need to provide your bank account information for receiving payments. In this case, it is appropriate to provide your UK bank account details, as Amazon will transfer the funds directly to your designated UK bank account.

As for the potential costs, it’s important to review the terms and conditions set by Amazon for selling on their platform. While I don’t have specific information on the fees associated with using Amazon EFN, it’s common for Amazon to charge fees for services like fulfillment, storage, and transaction processing. These fees are usually deducted from the payments you receive from Amazon.

Regarding TransferWise, it is a reputable online money transfer service that provides competitive exchange rates and low fees for international transactions. It can be a convenient option if you anticipate receiving payments from international marketplaces or customers. However, it’s important to note that TransferWise is primarily used for currency conversion and international transfers, and it may not be directly linked to your Amazon account. So, for receiving payments from Amazon, it’s typically recommended to provide your local bank account details directly to Amazon.

To ensure accurate and up-to-date information, I recommend reviewing the specific terms and policies outlined by Amazon and contacting their seller support or customer service for any clarifications or questions related to fees and payment options.