Amazon Currency Converter for Sellers offers new lower fees


#1

Amazon Currency Converter for Sellers (ACCS) is Amazon’s official payment solution that allows you to receive disbursements in the currency of your choice. ACCS is moving from a flat rate to Volume Based Fees, which now provides you with discounted fees as low as .75% based on the volume of your business in the last 12 months. The higher the volume, the lower your fees will be. Your seller tier that decides the fees will be calculated monthly and automatically updated.

To learn more about ACCS and the new lower fees, visit Amazon Currency Converter for Sellers - FAQ.


#2

This sounds good. But the page is really not clear.

First: What is CNY? Google tells me it has something to do with in vitro fertilization.
Second: What was the old “flat fee”? It seems to me that it was never flat, but always a percent. Maybe you meant “fixed fee” that was the same for all seller levels?
Third: The fee tiers are based on dollar volume. Is that volume total across all accounts or volume in the marketplace with the foreign currency?
Fourth: There are two columns for fees. Are you charging the sum or both columns or is one? If both, OUCH! That is a lot of money. If one, I’m guessing that the answer to my first question would tell us which column to use.


#3

CNY is the Renminbi or Chinese Yuan:

The ISO code for yuan renminbi is CNY , an abbreviation of “Chinese yuan” as it’s often referred to in international finance.

Much as USD is the ISO code for US Dollar, or EUR for the Euro.


#4

CNY is the Renminbi or Chinese Yuan:

Renminbi

Currency

Description

Description

The renminbi is the official currency of China and one of the world’s reserve currencies. The yuan is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. One yuan divides into ten jiao, and a jiao in turn divides into ten fen. [Wikipedia]

Moderator edit(Ale_Amazon): Removed external URLs.


#5

I no longer believe Amazon when they say “new & improved”. By not showing the old rates, I assume this is only better for some sellers (primarily from China). I’m not surprised to see they’re tilting the playing field towards CNY-denominated sellers. I do think it’s absurd they take a vig on “moving” money between countries (the rate, not the fees), given that they’re already taking money in in each country and aren’t moving anything, but simply paying sellers in one market with money from another.

Amazon: Keep taking slices off us, while prohibiting us from selling at prices that allow a profit here, and scaring off legit brands who refuse to source to you … and see how long before you go from “your one stop shop for everything” to “a bunch of knock-off garbage from Jina”.


#6

:pray::pray::pray: They are shady AF.


#7

What volume does Amazon use to calculate your trailing 12 months? Is it your aggregated sales volume across all Amazon marketplaces? Just Amazon marketplaces that you use currency conversion services with? Are there separate rates for each amazon marketplace?

tldr - Amazon is charging the majority of sellers exactly the same price they always have to convert currency of 1.5%, but apparently they charge chinese sellers roughly half what they charge the rest of us and they are now going to also charge less for the top 1% of sellers who sell more than USD$500,000 in a foreign market (vague on this last part).


#8

I notice my exchange rate today on this payment is massively wrong.
I’m in canada but sell on Amazon.com.
Exchange rate at banks is 1.31 Canadian for $1 US.
My rate according to my payout dashboard page is 1.04 Canadian to $1US.
That is a massive difference.
I’m thinking their system screwed up.
Anyone else seeing this.