Ecommerce giant Amazon has announced that it will make changes to its payout period. Sellers in the United Kingdom and Europe will have to wait until a week after the delivery of an item to receive their proceeds. The change will come into effect in phases in the upcoming month, until September 6th.
The online marketplace has informed sellers in Europe and the United Kingdom that it will no longer credit their Amazon Seller accounts after a sale is made. Amazon is now implementing a Delivery Date Based Reserve policy.
‘Funds will be transferred to sellers a week after the delivery of an order.’
With this new policy, funds will be transferred to sellers a week after the delivery of an order. This means that sellers will need to wait even longer in the case of a delay in delivery. Previously, many sellers that have been active on the platform since before 2016 were using a ‘shipment date’ reserve, where they got paid based on the day they shipped an order.
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