Transfer Account

Account Health
1

I am looking to close my current Ltd company and create a new one. I would like to change the Amazon account details from the old company to the new company.

Is “transfer account” the correct method for this?

Many thanks

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2

Hello @Chcsupplies,

thank you for joining the forum. You are correct that the “Transfer Account” option should be used when changing your legal entity. The difference between going ahead with simply updating your existing details and transferring account is that you are not risking getting suspended.

Once you click on “Transfer Account”, after 30 seconds you will be logged out of your account. Then, you will be able to login again and all account information will be empty. You will be able to fill it and then submit for verification without risking a suspension.

However, keep in mind that the whole legal transfer can take several months to be processed. In the meantime, the storefront will be inactive (not suspended, but on permanent vacation settings).

I hope this helps. Please feel free to post here whenever you need help.

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4

Hi Kika, thank you for your response. Wow a couple of months! Was not expecting that. I was hoping it would be a couple of days for them to check the documents and process the changes.

During those couple of months are all FBA listings inactive and are any funds held also?

Will they also charge storage fees for FBA stock stores over those months?

Many thanks

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5

Sadly, your account will be inactive for months. So your FBA inventory will keep attracting storage fees.

However, at least it will not become stranded and remains in “Active” status but unavailable for sale.

Disbursements should work as usual, as soon as you update your bank account (since all of the account details will be wiped out awaiting new submissions and verification).

6

Hi Kika,

Thanks again for your helpful response.

Do you have a rough idea of how many months? Could we be talking 2 or 6 or more? I’m just thinking it’s so long by the time it’s done my suppliers may have found new customers.

And in theory it would be best to time the transfer when there is as little stock as possible in FBA? Or create removal orders prior for any remaining slow moving stock to lower storage fees?

Presumably the new bank account details are entered at the same time as all the other new company details and any funds still held, as well as funds received from any pending orders will be disbursed to the new bank account whilst the account is inactive?

Thanks again for your help

7

Just like you mentioned, around 2 to 6 months. From what I have seen, the longest time was around 6 months. Right now, Amazon is suffocated with all the VAT and establishment related identity verifications, so I expect it to last long.

I have performed entity transfers on my own account repeatedly and everytime the wait lasted for months.

The sooner you do it, the better, if you would like to be ready by Christmas.

Yes. The bank account verification is swift. This is processed in a matter of 2-3 days.

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Hi Kika, sorry one last question. Will I require approval again to sell the products the account has been approved for or does that carry over too? Many thanks

9

Eveything carries over. The account remains the same, just the identity information gets replaced.

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