How to Change Your Amazon Direct Deposit Information
Amazon direct deposit refers to the automatic transfer of seller earnings from Amazon to a bank account designated by the seller. This allows Amazon sellers to efficiently receive their payments earned from selling products on Amazon.
The process to change Amazon direct deposit information is straightforward for sellers with an Amazon seller central account. It involves logging into the account, navigating to the payment settings section, entering the new bank account details, confirming the changes, and saving the updated payment information.
Changing the deposit details requires the seller’s Amazon username and password. The new bank account must be in the seller’s name. Amazon may conduct additional verification to validate the account change. The update takes around 3 business days to take effect after being completed through the seller central portal.
It is recommended that sellers be cautious when changing their direct deposit information. The update should only be made through Amazon’s official website and never via unverified third-party links. Sellers should also monitor their accounts to ensure payments begin routing to the correct new bank account. Overall, the direct deposit change process is simple, safe and quick when sellers follow the proper steps.
The ability to easily update direct deposit information provides flexibility to Amazon sellers. They can link new bank accounts, replace closed accounts, or switch between accounts as desired. Maintaining current payment details enables sellers to promptly receive earnings from their Amazon sales.
Steps to Change Your Amazon Direct Deposit Information
Changing the Amazon direct deposit information is a straightforward procedure requiring no complex prerequisites or hardcore documentation.
1. Log into Your Amazon Account
You will begin the process by logging into your Amazon Central Seller account. Once you are inside your seller profile, head to the ‘Settings’ or ‘Account Info’ section. This section allows you to make various changes to your Amazon seller account, including your bank account information.
2. Navigate to the Payment Settings
Navigate to the ‘Bank account’ section in the ‘Settings’ or ‘Account Info’ section. The specific option may be different on some accounts. Some may see the ‘Payment’ option instead of the ‘Bank account’ option.
3. Update Bank Account Details
You will see the ‘Edit’ option to initiate the direct deposit account information change on the payment settings. Enter the new bank account information, including the account number, account type, and other required details.
4. Confirm Changes and Save
Once you have entered all the information, carefully review everything to confirm that there are no mistakes. Amazon may conduct some additional verification to validate the information. After confirmation, you can save the changes.
Of course, the change won’t reflect immediately. Therefore, you must keep monitoring your account. Once the new payment information is updated, keep an eye on future payments to verify that the payment goes to the correct bank account.
What Are the Requirements for Changing Your Amazon Direct Deposit Information?
There are no special requirements for changing your Amazon Direct Deposit information. You only need basic information such as an active Amazon Central Seller account and a bank account. The bank account must be in your name, and you must adhere to Amazon’s verification and authorization guidelines.
How Long Does It Take for Changes in Amazon Direct Deposit to Take Effect?
Direct deposit change on Amazon normally takes a few business days (around three days).
What If You Have Multiple Bank Accounts Linked with Amazon?
If you have linked multiple bank accounts to your Amazon Central Seller account, you must indicate the specific bank account you prefer for receiving payments. By specifying this, you can ensure that your funds are being directed into your designated bank account.
Can You Set Up Automatic Deposits on Amazon?
Amazon is not a financial institution. So, it does not offer the typical automatic deposit feature like a traditional bank. That said, Amazon sellers can set up their accounts for automatic transfer of their sales earnings to their bank account.
What Should You Do If You Encounter Problems While Changing Your Amazon Direct Deposit Information?
- Make sure that you are following the correct procedure for updating your direct deposit information.
- Double-check all the details entered by you to verify the accuracy of the information.
- You may also want to verify the status of your Amazon seller account to see if it’s in good standing.
- Have a good look at the error message as well. The message will usually guide you to take the correct steps.
- Sometimes, the problem may be related to your bank. So, check with your bank for any restrictions placed on your account.
- Wait till the designated number of days for the changes to take place.
- Contact the Amazon Seller Support team to fix errors you cannot resolve on your own.
Tips for Safely Changing Your Amazon Direct Deposit Information
Be Cautious
You should make sure to update the bank account details through the company’s official app or website. Make it a rule to never follow any unsolicited links claiming to be from Amazon. Double-check the URL to ensure that it’s starting with https://sellercentral.amazon.com.
Use trusted device
You may want to update the information not from a public device but from a personal phone or laptop. Use only a home or office network that you can fully trust, not the networks available at airports, coffee shops, etc.
Educate your team
If you have employees managing your Amazon Central seller account, ensure that they are aware of all the security concerns mentioned above. Unless it’s a legitimate reason, you should also avoid sharing your account information with anyone.
Monitor your account regularly
You will do yourself a great favor by regularly monitoring your Amazon seller account for suspicious activities. See if all the account information is up to date and accurate. If you notice any abnormalities, change your password immediately and report the suspicion to the Amazon team.
Keep records of all your communication
If you want to prove any of your actions, you may need a record of all the communications related to your direct deposit account. So, maintain a record of your interactions with your bank or Amazon representatives.
Frequently Asked Questions about Changing Amazon Direct Deposit Information
Let’s dive into the commonly asked questions related to Amazon’s direct deposit information change.
Will I incur any charges?
There are no charges for changing your Amazon direct deposit information. That said, it’s good practice to check with your bank to understand their charges, if any.
Is it safe to change my Amazon direct deposit information?
It’s 100% safe, but you need to be cautious enough not to fall prey to scammers. You should only use official channels for updating your new information.
Can I use the app to change the Amazon direct deposit information?
Using the appropriate options, you can easily change your direct deposit information through the Amazon app. The app can be really helpful when you want to change your bank details on the go.
How often can I change my Amazon direct deposit information?
Amazon has no restrictions regarding this. However, you should avoid making frequent changes to your direct deposit information. You should make changes only when it’s absolutely necessary.
What are the tax implications of changing my Amazon direct deposit information?
There won’t be any direct influence on your taxes for changing your direct deposit information on Amazon. It’s still prudent to maintain a comprehensive record of all your transactions for various financial reasons, including tax reporting.
