Amazon today announced the launch of Amazon Seller Wallet GBP, giving eligible sellers a simpler way to manage proceeds earned through Amazon.co.uk.
Available directly within Seller Central, Seller Wallet GBP allows sellers based in the UK or overseas to hold funds in pounds sterling, pay UK suppliers directly and transfer money quickly to a UK bank account. GBP transfers to UK bank accounts are fast and free, giving sellers simpler access to funds for domestic business needs.
For sellers based outside of the UK, Seller Wallet GBP provides additional benefits when it comes to converting proceeds and managing their cashflow, enabling sellers to retain proceeds in GBP to pay UK suppliers or convert and send funds internationally in more than 20 currencies.
“Selling in the UK and internationally creates exciting growth opportunities, but it can also add complexity to everyday financial operations,” said Manasi Kudtarkar, General Manager of Amazon Seller Wallet. “With Seller Wallet GBP, we are giving sellers more choice and control over how they manage their UK proceeds, all from the same place they manage their business on Amazon.”
Key benefits for sellers:
- Manage funds within Seller Central: Hold GBP proceeds earned through Amazon.co.uk, view balances, initiate transfers, and track the movement of funds alongside other business activities on Amazon.
- Flexible transfer options: Make a one-time transfer or set up recurring schedules to send a fixed amount to your bank account weekly, every two weeks, or monthly.
- See the full cost before transferring internationally: Review the exchange rate and total cost before confirming a transfer. A volume-based fee applies to international transfers and decreases as a seller’s business with Amazon grows, with competitive exchange rates and no hidden markups or additional costs.
- Simplify reporting and reconciliation: Access statements and transfer history within Seller Central to support cash-flow management, tax preparation, and account reconciliation.
The Seller Wallet experiences for GBP, EUR and USD are all separate and eligible sellers can enrol directly through Seller Central in a few clicks at no cost. Sellers operating in UK and EU stores can sign up for both GBP and EUR wallets at the same time using a streamlined process, while maintaining separate balances for each currency.
Seller Wallet first launched globally for the U.S. store in 2022, allowing sellers to manage and convert USD into more than 20 currencies in one place, before expanding in 2025 to seven European stores for global sellers to consolidate and manage EUR proceeds.
For more info on Seller Wallet UK – https://sell.amazon.co.uk/programmes/seller-wallet
