Amazon's Rules for Seller Bank Accounts and Approved Payment Service Providers
Amazon restricts seller disbursement accounts to direct bank accounts or accounts managed by approved Payment Service Providers (PSPs). Non-compliant accounts may result in held funds until sellers switch to an approved method.
Overview
Amazon restricts the types of bank accounts that sellers can use to receive their sales proceeds. This policy is designed to prevent fraud and abuse on the marketplace by ensuring all disbursement accounts meet strict verification standards. Sellers must either use a bank account issued directly by a deposit-taking bank or one managed by a Payment Service Provider (PSP) that participates in Amazon's approved PSP program.
Key Points / What Sellers Need to Know
- Two accepted account types — Amazon will disburse your sales proceeds only to a bank account issued directly to you by a deposit-taking bank, or to an account managed by an Amazon-approved Payment Service Provider (PSP).
- PSP Program participation is mandatory — If you use a third-party payment service to receive funds, that provider must be enrolled in Amazon's Payment Service Provider Program. Unapproved PSPs will not be accepted.
- Disbursements can be held — If your current PSP is not approved, Amazon will notify you and may hold your funds until you switch to an approved provider or a direct bank account.
- KYC and compliance checks may cause delays — Approved PSPs are required to perform know-your-customer (KYC) verification, sanctions screening, and anti-money laundering checks, which can delay your disbursements.
- Data sharing occurs between Amazon and PSPs — Amazon shares your PSP account number and selling account information with your PSP to verify legitimacy, and PSPs share identity information back with Amazon.
- Amazon Currencies Converter applies too — These bank account requirements apply whether you receive direct disbursements or use Amazon's Currencies Converter for Sellers program.
How It Works
When you set up your disbursement method in Seller Central, Amazon verifies that your bank account meets its requirements. If you provide a direct bank account from a recognized deposit-taking institution, no additional steps are needed beyond Amazon's standard verification. However, if your account is managed by a third-party payment service, Amazon checks whether that PSP is enrolled in its approved program. You can view the current list of approved PSPs and sign up through the Selling Partner Appstore. If your PSP is not on the approved list, Amazon will notify you and require a change before releasing further payments.
Analysis & Recommendations
Why This Matters
This policy governs how sellers receive their sales proceeds. Using a non-approved payment provider can result in held disbursements, directly impacting cash flow and business operations.
Key Takeaways
- Amazon only disburses to direct bank accounts or accounts from approved PSPs enrolled in their program
- Sellers using unapproved PSPs will be notified and may have funds held until they switch
- Approved PSPs must perform KYC, anti-money laundering, and sanctions screening, which can delay payments
- Amazon and PSPs share account and identity data to verify legitimacy and prevent fraud
Recommended Actions
- →Verify your current disbursement account is either a direct bank account or managed by an Amazon-approved PSP listed in the Selling Partner Appstore
- →If using a third-party payment service, confirm it participates in Amazon's PSP Program before your next disbursement
- →Bookmark the Deposit Methods page in Seller Central so you can quickly update your bank details if needed
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