Alta: How to switch your Amazon US bank account (Marketplace Payouts)

Step 1: Apply and be approved for a Digital Wallet

Marketplace Payouts requires you to open a Digital Wallet for the funds to be received into. 

Once your Digital Wallet is opened you will be able to fund it from various sources, including using payouts from Amazon. 

 

Step 2: Find the account information on where Amazon should send your payouts

To find the account information that Amazon should pay into, follow the below steps:

  1. Go to “Wallet Balances” tab within Alta
  2. Click on “Add Funds” and select USD as your currency
    1. You will be shown details of a “Collection Account” with bank account details on where to send funds to. This will include Bank Name, Routing Number, Account Number, etc. on where to Amazon should send funds - this specific account can only be used to receive funds in the US (each country has its own specific account information)
    2. Make sure to include the Reference Number so we can quickly credit your Digital Wallet with the funds
    3. Download the Bank Welcome Letter to prove ownership of the account (if Amazon asks for it)
  3. This bank account information is what you will give to Amazon on where to receive your payouts (see instructions below). The funds will be credited to your Digital Wallet

 

Step 3: Follow Precautions

Before switching your account information within Amazon Seller Central, we recommend planning for the switch at least THREE days before your scheduled payment date

Occasionally, to make sure it is not a fraudulent activity on your account, Amazon might review your new account information and it might take up to three days. If the account information is still under review on the scheduled payment date, the payment will be delayed. During this time, your Amazon store’s ranking and listing will be paused.  

We recommend that you contact and inform Amazon’s client service before switching your bank account to the your Digital Wallet. This can reduce the risk of Amazon identifying the activity as unauthorized. 

  1. Log into Amazon Seller Central. Click “Get Support”
  2. Click Your account -> Make changes to your account -> Update bank account information
  3. Notify the Seller Support of your plan to change the bank account. It usually takes Amazon 1-2 days to respond. 

 

Step 4: Setting up account details on Amazon

  1. Select marketplace as www.amazon.com. Click Settings > Account Info > Payment Info > Deposit Methods

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  2. Add or replace bank details. If you’re replacing existing bank account details, select Replace. If you’re adding new bank account details, select Assign

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  3. Select Add new deposit method.

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  4. Select the bank location as provided to you for your “Local Collection” account of your Digital Wallet.

  5.  Add the bank account details as provided to you for your “Local Collection” account of your Digital Wallet (in Step 2 above)

  6. Verify your bank account details. 

  7. Save your details. You can do this by clicking “Set Deposit Method”.

  8. Start to collect earnings into your Alta Digital Wallet!

 

Step 5: Bank Welcome Letter

If Amazon requests you prove account ownership, you can do so by generating and sending a Bank Welcome Letter.



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