Here’s an important warning for all third-party sellers on the Amazon marketplace.
Changing your bank account information at a time when the retail giant has just rolled out a new security measure may result in the suspension of your seller account.
Sellers whose accounts have been suspended had to wait for hours, days or even weeks to be reinstated.
It’s advisable for you to hold off on updating your bank account, and neither should you close your existing account and open a new one regardless of reason.
In case your bank has performed a system upgrade and automatically changed your bank account number, it would be wise to ask them if you can start using your new number when the dust has settled.
Don’t let Amazon spot a discrepancy in the bank account which you’ve linked to your seller account, or else you’ll be suspended without prior notification.
Amazon’s extra layer of protection
To protect you and other third-party sellers from persistent hackers, Amazon has come up with a Two-Step Verification (2-SV) which adds an extra layer of security to your account.
Once you’ve enabled 2-SV in your Seller Central account, you will be required to enter a security code aside from your login details when you sign in.
You can receive the security code through email, text message or an authenticator app from Google which is downloadable to your phone.
While the 2-SV won’t be mandatory until June 30 of this year, Amazon encourages all sellers on their marketplace to enable it now and get that extra layer of protection.
Below is an excerpt from the message of Amazon Seller Support:
“We know there are bad actors out there, and while I can’t speculate on their motives, we believe the use of 2-SV is a critical security measure that sellers should enable and keep in their toolbox without waiting until June 30th when it becomes a requirement.”
If you haven’t enabled 2-SV yet, follow the steps here.
Some sellers say the sign-up process was quick and simple, but to others it was nightmarish.
The message here is simple though, if you do envisage needing to change bank accounts, before anything changes, contact Amazon first to make sure you follow the right steps in the right order.
We’d like to know how you personally found it. Share your thoughts in the comments section below.
As always, to your continued success,
Dave & Matt