How to Resolve a Suspension for Failure to Verify Bank Details on Amazon
Failure to Verify Bank Information: What Does It Mean?
If you received a notification like this:
"Your payment account has not passed our verification process. As a result, you can no longer sell on Amazon UK or European Marketplaces."
This type of suspension occurs when Amazon fails to verify the banking information provided. Often, this occurs because the bank details are out of date or do not match the registered company's details. In accordance with Section 3 of the Amazon Business Solutions Agreement, sellers must ensure that the bank account associated with the Amazon account is in the name of the company or the company's primary beneficiary.
Consequences of a Suspension for Failure to Verify Bank Data.
If you do not provide updated banking information within the timeframe set by Amazon, you could face the following consequences:
Sales block: You will not be able to sell products on Amazon marketplaces in the UK or Europe.
Loss of access to Seller Central: You will only have access to Seller Central for 40 days. After this period, you will no longer have access to financial reports or account data.
Freezing of funds: Funds in your account will be frozen for up to 90 days, or more, to cover any A-to-Z claims or chargebacks.
Removal or disposal of goods: If you have products in Amazon distribution centers, you must remove them within 30 days or they will be disposed of, with removal fees charged.
How to Reactivate Your Account
To reactivate your account, it is essential to follow these steps:
Update bank information: Log in to Seller Central and go to the "Deposit Methods" section. Replace the current deposit method with a new bank account in the name of your company or primary beneficiary. Follow these steps:
Click on "Replace Deposit Method"
Enter new bank account information and verify the information
Provide an up-to-date bank document: After updating bank information, upload a copy of a bank statement or letter from the bank that matches the data entered. Make sure the document:
Be dated within the last 180 days
Show the bank logo, account number and name of the account holder
Be readable and in a language supported by Amazon.
Avoid errors: Do not re-upload the same document that has been submitted before, and make sure the document meets all of Amazon's requirements to avoid further delays.
Action Plan: Your Tool for Reactivation
The Plan of Action (POA) is one of the most important tools for resolving the suspension of your account. A well-structured POA must include:
Root Cause Analysis: Explain why the banking information was not compliant and what was done to correct it.
Corrective Measures: Demonstrates that you have properly updated your banking information and provided all required documentation.
Future prevention: Detail how you plan to keep information up-to-date to prevent a recurrence.
If you are not sure how to proceed, our agency can help you prepare a comprehensive POA tailored to your case. We will work with you to make sure all the information is correct and that the reactivation process is as quick as possible. And, as always, you don't pay us until your account is reactivated, giving you peace of mind.
Conclusion
If your account has been blocked due to unverified banking information, acting immediately is crucial. Contact us right away for assistance to ensure that your Action Plan is effective. We unlock your account first and only after you pay us, ensuring that the entire process is handled professionally and stress-free.