KYC (Know Your Customer) is simply the review and filing of the conditions of Amazon account holders (the review of the identity of European platform sellers). When sellers operate Amazon Europe, knowing the documents required for KYC review can effectively avoid the situation where the store is blocked due to KYC review violations. In order to prevent similar situations from occurring in the US site.
1. Reasons for KYC review violations
According to the requirements of relevant European regulatory agencies, Amazon is obliged to review the company and company owner identities of sellers who open stores on European platforms (including sites in the United Kingdom, France, Germany, Spain, Italy and other countries). Sellers can only sell goods on European platforms after being reviewed and approved by the European verification team. To this end, sellers are required to truthfully fill in the relevant information through the seller backend during registration and after registration and upload the required documents as required. If the documents uploaded by the seller do not meet the review specifications of the Amazon platform, it will cause KYC review violations, resulting in the seller’s inability to sell goods.
2. KYC review materials
KYC review materials generally include contact information, personal bills, bank bills, authorization letters, and daily expense bills.
(1) Contact information
The seller needs to provide the identity documents of the company’s primary contact person and beneficiary (beneficiary refers to a natural person or legal person who holds a stake equal to or greater than 25% in the company), such as a passport scan or the front and back of the identity card plus the personal page of the household registration booklet.
(2) Personal bills
The personal expense bills of the primary contact person and beneficiary mainly include any daily expense bill within the past 90 days, including water, electricity, gas, Internet, TV, telephone, mobile phone and other expense bills or credit card statements, etc.; the bill must include the name and detailed home address.
(3) Bank statement
The bank statement refers to the company’s public bank statement. The company name on the bill must be consistent with the company name on the business license, and must have the bank name and logo; there must be a bank account number at the bank where the account is opened; if the bill has a date, it must be within one year from the date of issuance; no date is also acceptable; individual sellers provide personal bank statements, the requirements are the same as above.
(4) Authorization letter
If the primary contact is not the legal person or beneficiary of the company, Amazon will require the seller to provide an authorization letter from the legal person of the company authorizing the primary contact to actually operate the account.
(5) Daily expense bill
For sellers registered in the Hong Kong Special Administrative Region of China and Taiwan, Amazon requires sellers to provide a company daily expense bill (including water, electricity, gas, network, etc.), and the company name and address should be consistent with the business license/business registration certificate.