We are a USA company with bank accounts in the USA. Working with payment processors, such as XE, we have an account in the UK for GBP. Amazon asks us to prove this account is ours but it is in the name of XE, not in our name. IS there a way to solve this problem?
Payoneer seems to solve this problem by being integrated into Amazon Seller Central and offering a Euro account in Germany to receive payments. However, I cannot find out Payoneer’s fee structure, before signing up for Payoneer. Does anyone know what they charge to convert the Euros to US Dollars to send to our USA account?
Regarding your situation with having a UK account in the name of XE for GBP payments as a USA company, it can be challenging when Amazon asks you to prove ownership of the account. However, there are potential solutions to consider:
- Communication with Amazon: Reach out to Amazon Seller Support and explain the situation in detail. Provide documentation that demonstrates your business relationship with XE and clarify that the account is used exclusively for your business. This may include contracts, agreements, or any other relevant documentation that establishes your connection to the account.
- Obtain supporting documentation: Work with XE to obtain documentation that verifies your association with the account. This could be in the form of a letter or statement from XE explicitly stating that the account is used on behalf of your company. Having official documentation from XE can help address Amazon’s concern about the ownership of the account.
- Consider alternative payment solutions: If proving ownership of the account becomes excessively challenging or if Amazon does not accept the provided documentation, you may need to explore alternative payment solutions. As you mentioned, Payoneer offers integration with Amazon Seller Central and provides a Euro account in Germany for receiving payments. Payoneer’s fee structure for currency conversion and transferring funds can vary, so it’s best to directly contact Payoneer or visit their website to obtain specific details regarding their fees.
When considering alternative payment solutions, evaluate and compare the costs, fees, exchange rates, and overall convenience of each option. Additionally, read user reviews and seek recommendations from other sellers who have used Payoneer or similar services to get a better understanding of their experiences.
Remember that the specific fees and terms of service may change over time, so it’s important to directly consult with Payoneer or refer to their official documentation for the most up-to-date information.
It’s advisable to consult with a financial advisor or accountant who can provide guidance tailored to your specific business needs. They can help you evaluate different payment options, consider potential implications, and make an informed decision.
I hope this information helps you navigate the situation with your UK account and find a suitable solution. If you have any further questions or need additional assistance, feel free to ask. Good luck!