In Europe, Amazon, as a global e-commerce platform, has a KYC (Know Your Customer) audit process that is crucial for sellers. To sell products on the European site, or to continue selling and earning transaction proceeds, you need to provide Amazon with detailed company and personal information. However, when will the KYC audit be triggered? Let’s take a closer look.
1. Receipts approach 15,000 euros
Once the seller’s store account in Europe receives a payment amount close to 15,000 euros, the KYC audit will be triggered. This means that during the sales process, when the seller’s payment amount gradually approaches this threshold, the seller must submit information to pass the KYC audit. Although the products in the store can still be sold normally, the KYC audit must be completed before the payment amount reaches 15,000 euros, otherwise the store will face the risk of being restricted from selling. Only after passing the audit can the store resume normal sales.
2. Change key store information
Any modification of key store information may trigger a KYC audit. This includes changes to credit card information, beneficiary information, etc. Once the seller has modified these key information in the background, the audit should be completed as soon as possible in accordance with Amazon’s requirements. Otherwise, the store will face the risk of being restricted from selling until the review is passed.
3. KYC review after store registration is completed
In rare cases, a KYC review is required after the store registration is completed. If this happens, the seller must complete the review as soon as possible in accordance with Amazon’s requirements before making subsequent sales. This means that after the store registration is completed, the seller must act immediately to avoid the store being restricted from selling.
In summary, KYC review is crucial for sellers selling goods on Amazon Europe. Whether the collection amount is close to 15,000 euros or key store information is changed, the review process may be triggered. Understanding these review triggers and completing the review in a timely manner in accordance with Amazon’s requirements are key steps to ensure the normal operation of the store.