Detailed explanation of payment methods for Amazon sellers: a complete guide from account opening to cash withdrawal
For Amazon sellers, product sales are only the starting point of the transaction, and ensuring smooth receipt of payment is the key sign of completion of the transaction. This article aims to comprehensively analyze several common payment methods on the Amazon platform – US bank account, Hong Kong bank account and third-party payment tools (such as Lianlian Cross-border Payment), covering the account opening process, rates, functions and security and many other dimensions.
How to open an account
- U.S. Bank Account: You need to set up a U.S. company and use its information to open a bank account in the United States. This process takes a long time (usually more than a month) and is accompanied by high fees. Cost (about 15,000 to 30,000 yuan).
- Bank account number in Hong Kong, China: You need to go to Hong Kong with your Hong Kong company information or mainland resident status. However, due to tighter supervision in recent years, banks in Hong Kong have set many restrictions on mainlanders opening accounts and may require them to maintain a certain amount of capital reserves. The account opening period is approximately one month.
- Lianlian Cross-border Payment: As one of the third-party payment solutions, it not only supports personal and corporate account applications, but also the procedure is simple and fast, usually completed within 1 to 2 days, and there is no need to Account opening fees.
Rate comparison
Different payment channels have their own characteristics in terms of fee structure:
- U.S. bank account number: There are no additional charges for U.S. site transactions, but cross-border transactions (such as Canada and Europe) will incur an exchange rate loss of about 3.5%.
- Bank account number in Hong Kong, China: You also face exchange rate losses caused by currency conversion, especially when the funds need to be converted into Hong Kong dollars. In addition, this method is often used to meet export tax rebate needs or overseas business payments.
- Lianlian Cross-border Payment: It provides support for multiple currencies including US dollars, euros, Japanese yen, etc., and the rates are relatively transparent and reasonable.
Functional analysis
From the perspective of operational convenience:
- U.S. Bank Account and Hong Kong Bank Account: The main limitation is that each account can only be bound to a single store. Operating multiple stores can easily cause account association problems.
- Third-party tools: For example, Lianlian Cross-border Payment allows users to create multiple sub-accounts, which is suitable for multi-store management and avoids the risk of account association.
Security considerations
- Bank account number: Although it has high security, frequent large-value transactions may trigger the bank’s risk control mechanism, leading to account review or even freezing.
- Third-party payment account number: For cross-border payments, Lianlian has legal operating qualifications or partnerships around the world, which can ensure the safety of fund flows and is currently the first choice for most sellers.
Analysis of the entire payment process
Choosing a suitable payment method also requires considering the following factors:
- Registered entity types and corresponding account types;
- Deposit speed and handling fee level;
- The withdrawal process involves the arrival time, currency type, fee rate and minimum withdrawal amount, etc.
To sum up, sellers should carefully select the most suitable payment solution based on their business model, geographical location and product characteristics. Global payment collection not only improves the security and convenience of payment, but also opens up a new path for cross-border e-commerce business expansion.
Reference materials:
(https://example.com/article1)
(https://example.com/article2)