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Amazon Sellers Required to Reconfirm Bank and Account ID Information

May 26, 2023
Amazon bank account verification AIA Assets

Amazon Sellers Required to Reconfirm Bank Account and ID Information

Without warning, many Amazon sellers are having their accounts suspended after receiving emails and performance notifications asking to re-confirm bank account and ID. Amazon sellers are panicking. Messages in the community forums are replete with questions about these verification requirements. Although Amazon hasn’t made an official statement regarding the reason for recent verification requests, the team at AIA Assets is closely following this unfold. We have some advice and support to offer our clients.

amazon seller veriification

Why have these verifications become more common?

The likely reason for the re-verification is the passing of the INFORM Consumers Act. Passed on January 5, 2023 it requires marketplaces to verify and, in some cases, disclose seller info. Over the next few months, we expect most of our clients to receive this re-verification notification. The act will go into effect June 27, 2023.

The INFORM Consumers Act will serve to protect consumers from disreputable sellers. Giving consumers a mechanism for reporting suspected fraudulent activity. Hopefully, deterring the sales of counterfeit and stolen goods.

“This bill requires online marketplaces to collect, verify, and disclose certain information from high-volume, third-party sellers.”

Who is considered a high-volume, third-party seller?

If you sell online, you’re a third-party seller. If you have 200 or more transactions resulting in total revenues of $5,000 or more during a continuous 12-month period, you’re a high-volume seller.  Sellers, grossing at least $20,000 in revenue a year, will be required to disclose their name, contact information, and physical address to consumers.  (Exceptions apply for sellers operating out of their homes).

To comply with this act, Amazon (Ebay, Etsy and other marketplaces) has started sending out verifications notifications to many of its sellers – sometimes requiring submissions of both an ID and/or bank verification such as:

  1. Bank account information
  2. Government-issued identification
  3. Tax identification numbers, and
  4. Updated Contact information
Amazon sellers in the United Kingdom and other EU marketplaces are familiar with a re-verification process.  When we offer our service of opening new seller accounts in those marketplaces, we inform our clients to expect to undergo a revertification once they’ve reached their first 15,000 GBP in sales. Notte Bene:  this reverificaiton of identification may happen YEARLY. 

What SHOULD sellers do? 

Don’t Panic

Carefully follow the directions you have received from your performance notifications. The process will be straightforward, and you will be given detailed information on WHERE to upload the documents.

Respond Quickly

Amazon will give you a timeline of 30 days to comply with this information request. Sellers who don’t respond may be suspended.

Be Patient

We have heard from sellers that they have received immediate responses to these notifications, and others that have waited 3 or more business days.

Final Words…

  1. Be vigilant – Spammers are aware of this verification requirement and would love to be able to take advantage and hijack your account. Make sure you ONLY respond to emails that are directly from Amazon. (Request for verification will appear in your performance notifications too along with a “VERIFICATION” button)
  2. Upload bank statements from the past 90 days – Ensure that all information on your statement (name on account, address etc.) are perfect matches to the information submitted on your sellling account.

Have you received a notification from Amazon asking for an account re-verification? Stumped about how to proceed? We are the EXPERTS on Amazon Seller Verification and will guarantee you will get your account successfully re-verified. Please Reach out!

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