Amazon Adds Korean Won Payouts for South Korea-Based Sellers
Amazon now offers KRW payouts via the Amazon Currency Converter for Sellers (ACCS) for South‑Korea based merchants on Amazon.com, Amazon.co.uk and all EU marketplaces, effective immediately. Sellers can enroll in ACCS, add a Korean bank account and receive automatic conversion at Amazon’s rate (e.g., $5,000 → 6,700,000 KRW at 1,340 KRW/USD) with up to one‑day faster settlement.
Overview
Amazon has rolled out Korean won (KRW) as a payout option for sellers who operate from South Korea. Effective immediately, merchants selling on the US, UK, or EU Amazon marketplaces can have their earnings deposited directly into a Korean bank account in KRW. This eliminates the need for external foreign‑exchange services and streamlines the cash‑flow process for Korean‑based sellers.
Key Points
- KRW payout option — Sellers located in South Korea can now receive disbursements in Korean won without using third‑party converters.
- Automatic FX conversion — Amazon’s Currency Converter for Sellers (ACCS) applies its own exchange rate at the moment of payout, removing the requirement for separate wire transfers.
- Three‑marketplace coverage — The KRW option works for revenue generated on Amazon.com, Amazon.co.uk, and all EU storefronts, giving sellers a single local‑currency solution across these regions.
- Faster settlement — By keeping the conversion inside Amazon’s payment pipeline, the time between sale and bank deposit is reduced compared to routing funds through external fintech platforms.
- Optional participation — Merchants can keep receiving payouts in the marketplace’s native currency if they prefer to manage conversion themselves.
How ACCS Works
- Enrollment in ACCS — A seller opts into the Currency Converter program within Seller Central. Example: A Seoul‑based cosmetics brand checks the “Enable ACCS” box for its US store.
- Deposit method configuration — The seller adds a Korean bank account as a new deposit method and marks it as the default for the selected marketplaces. Example: The brand enters its KB Kookmin Bank account number and selects it for US, UK, and EU stores.
- Automatic conversion at disbursement — When Amazon processes a payout, ACCS converts the foreign‑currency earnings (USD, GBP, or EUR) to KRW using Amazon’s internal exchange rate and deposits the converted amount into the designated Korean account.
Analysis & Recommendations
Why This Matters
Local‑currency payouts eliminate third‑party FX fees and reduce settlement latency, letting Korean sellers keep more profit (e.g., 0.3% ACCS spread vs 1% external fee) and restock inventory a day earlier. The automatic conversion also simplifies accounting across US, UK and EU sales.
Key Takeaways
- KRW payout option now works for Amazon.com, Amazon.co.uk and all EU storefronts via ACCS.
- Conversion example: $5,000 is converted at 1,340 KRW/USD, resulting in a KRW 6,700,000 deposit.
- Sellers report up to a one‑day reduction in payout timing after enabling ACCS.
- ACCS spread can be as low as 0.3%, compared with typical 1% fees from external converters.
Recommended Actions
- →Log into Seller Central → Settings → Currency Converter for Sellers (ACCS) and enable ACCS for the US, UK and EU marketplaces.
- →Navigate to Settings → Deposit Methods, add your Korean bank account (e.g., KB Kookmin) and set it as the default for those marketplaces.
- →Compare ACCS exchange spread with your current provider and monitor payout dates after March 1 to confirm faster settlement.
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