Recently, Amazon Seller Wallet, a funds management tool that’s built right into Seller Central, finally became available in Europe after being live in the USA since 2022. This means that many more sellers now have a quick and easy way to hold, view, and transfer their Amazon proceeds directly to their bank account on their own terms.
Amazon Seller Wallet Launches in Europe
In a recent blog post, Amazon announced the release of Amazon Seller Wallet in Europe. This feature is a built-in tool in Seller Central that lets sellers view, hold, manage, and transfer funds to their bank or suppliers, according to a schedule that works for them.
Before this feature was introduced, sellers only had the option to automatically send funds from Amazon to their bank accounts on a fixed-schedule and cycle, which limits seller control.
This tool has been available in the USA since 2022 and is now available for stores in Germany, France, Italy, Spain, Belgium, Ireland, and the Netherlands to use.
Introducing this feature in Europe isn’t the only move that Amazon has made recently to boost ecommerce in the region. For example, it increased its investment up to nearly $40 billion (€33.7 billion) to support data center infrastructure in Spain, which will help to drive AI innovation throughout the area.
The company also recently cut seller fees to help sellers on Amazon better compete with other platforms that have been growing in popularity, like Temu and Shein.
Getting Started with Amazon Seller Wallet
Thankfully, getting started with the tool to manage your European proceeds is fairly straightforward. To get started, simply enroll right in Seller Central, and you’ll be able to use the feature with no minimum requirements or upfront costs.
After enrolling, you’ll have full visibility into your account balances and be able to send transfers whenever it works for you, as opposed to being stuck to Amazon’s automatic payment cycle.
Advantages for Global Sellers
As you could imagine, this feature being expanded to European stores offers several benefits for sellers in the region. First, it offers sellers better exchange rate control, instead of being stuck paying whatever the rate currently is when your automatic payments were scheduled to go through.
Now, you’re able to hold onto the funds until you’re happy with the rate and then make your transfer, potentially saving you a lot of money depending on the size of your transfers.
The feature is also great for helping global sellers with managing funds from multiple stores. No matter where you’re based, you can manage your USD from your U.S. store and your EUR from your European stores, all right in Seller Central.
It also gives sellers plenty of control over their funds. You can choose one-time transfers or set up your own schedule to initiate transfers every week, two weeks, or monthly. Lastly, sellers can also use the funds in their Seller Wallet EUR to pay suppliers and settle VAT obligations.
As a result, I believe ecommerce brands from across Europe that sell with Amazon should consider using this tool if they want more visibility and control over their funds. There’s no upfront cost, setting it up is easy, and any feature that gives you more control over your earnings is worth using.
