Wednesday, July 24, 2024

6 Things You NEED to Have Before Starting Your Seller Central Account

📝 Six Things You Need Before Starting Your Amazon Seller Central Account

Are you planning to start your Amazon Seller Central account? If so, there are six things you need to have before you register. In this article, we will break down each of these six things so that you can be fully prepared and have the best chance of success.

1️⃣ ID or Passport

Amazon requires personal identification to ensure that you are a real person and not a bot. Even if you have a business, they still want to tie a person’s identity to that account. You will need a high-quality photo of your ID or passport, including the front and backside scans. Do not edit these documents in any way, as Amazon will decline them.

2️⃣ Business Legally Created

While you can start with an individual account, it is recommended to get a business created for long-term success. This will provide accounting and limited liability protection. You can form an LLC or your country’s equivalent. You will need to get an EIN, which is the equivalent of a social security number for a business in the US.

3️⃣ Bank Account

You will need a bank account to connect with your Seller Central account. Amazon will hold funds for two weeks, and then deposit them into your bank account in a direct deposit form. If you have a business, you will need a business bank account.

4️⃣ Credit Card

You will need a credit card to put on your Seller Central account. Start with a personal credit card, as it is hard to get a business credit card right away. Do not use a debit card.

5️⃣ Utility Bill

You will need a utility bill if your account gets flagged or if Amazon requires additional information. It needs to match your personal name and address or your business name and address.

6️⃣ EIN or Country’s Equivalent

You will need an EIN or your country’s equivalent to sign up with Amazon. You can apply online through the IRS website.

By having these six things, you will be fully prepared to start your Amazon Seller Central account. Remember to take the time to prepare and avoid any potential issues that may arise.

Pros:

– Provides a clear understanding of what is needed to start an Amazon Seller Central account

– Helps avoid potential issues and delays in the registration process

– Provides recommendations for banks and credit cards to use

Cons:

– Some information may be specific to the US and may not apply to other countries

– Additional research may be needed for non-US residents

🔎 Highlights:

– Six things needed to start an Amazon Seller Central account: ID or passport, business legally created, bank account, credit card, utility bill, and EIN or country’s equivalent

– Start with a personal credit card and switch to a business credit card later

– Use a utility bill that matches your personal or business name and address

– Recommended banks to use: Bank of America and Chase

– Recommended credit cards to use: American Express Blue business cash card, Inc business card, and Capital One spark

🙋‍♀️ FAQ:

Q: Can I use a debit card instead of a credit card?

A: No, you need to use a credit card on your Seller Central account.

Q: Do I need a utility bill right away?

A: No, you only need a utility bill if your account gets flagged or if Amazon requires additional information.

Q: Can I start with an individual account and switch to a business account later?

A: Yes, you can start with an individual account and switch to a business account later.

Resources:

– Bank of America: https://www.bankofamerica.com/

– Chase: https://www.chase.com/

– Wise: https://wise.com/

– Payoneer: https://www.payoneer.com/

– Mercury: https://mercury.com/

– American Express Blue business cash card: https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/blue-business-cash-card/

– Inc business card: https://www.inc.com/credit-cards/business-credit-cards.html

– Capital One spark: https://www.capitalone.com/small-business/credit-cards/spark-cash/