How to Get Payment from Amazon?
1- What is Hyperwallet?
After PayPal stopped its operations in Turkey, those interested in the e-commerce sector had to find new ways to collect their payments. Fortunately, companies that offer similar services with PayPal offer solutions to these problems. Launched in 2000, Hyperwallet offers payment solutions. As of 2018, HyperWallet continues its services under the umbrella of PayPal. Thanks to this, PayPal can provide services even in countries like Turkey where it has no activity.
Hyperwallet charges you a commission of 5% for every money transfer you make. The money you request is transferred to your account within 1 to 3 business days.
2- What is Wise?
The company, formerly known as Transferwise, shortened its name to Wise in 2021. Wise started as a startup founded by 2 young people in 2010 to avoid the high commission rates of banks. Today, it has reached millions of dollars in turnover. Wise has been enabling us to make our international money transfers faster and more conveniently for 12 years.
In order to use Wise, both the recipient and the sender must have a bank account. This makes Wise more secure. Thanks to Wise, you can have an account in different currencies in Europe, from Euro to Polish Zloty, online without leaving your home. Signing up is free and there are no subscription fees. A commission fee is charged when you send money.
3- What is Payoneer?
Payoneer is a world-renowned virtual payment system based in America, offering services at affordable prices. Payoneer is world-renowned for offering services in over 150 currencies.
The main thing that differentiates Payoneer from its competitors is that it can be easily integrated with world-famous marketplaces such as Amazon and Etsy and that sellers can make payment transactions quickly. With PayPal’s suspension of its activities in Turkey, it has managed to become the most preferred payment system in Turkey as well as in many other parts of the world.
The most important advantage of Payoneer is that it provides its users with the opportunity to receive payments from multiple sources, as it is a globally recognized payment method. Another advantage is that it offers you ease of management by gathering your stores on multiple platforms under a single Payoneer account. When you define a bank account in Payoneer, you can easily transfer money to any bank in Turkey.
4- What is PayPal?
Paypal is an online payment system founded in 1998. It is a subsidiary of eBay Inc. and its founders include names like Elon Musk we all know.
With PayPal, you can transfer money online, either using a credit card or not. In fact, it is possible to send money to the desired person only with an e-mail address, thanks to PayPal. Payments can be made using many currencies at PayPal. It automatically makes the exchanges between these currencies. Of course, PayPal charges a certain fee for these transactions. PayPal, which is one of the most used payment methods in our country, stopped its services in Turkey as of 2016.
DEFINING PAYMENT METHOD ON AMAZON
To determine your payment method on Amazon, it is necessary to follow the steps below.
- First of all, click on Account info from the menu under Settings.
- Then, enter the Deposit Methods section on the page that opens.
- Click on Add new deposit method.
- In the section that appears, select the market place where you want to add the Deposit method and press the Add button.
- Finally, fill in the required fields in the panel that appears.
Multiple methods can be used to receive payment from Amazon. Let’s start with how to get paid using Payoneer account, one of the most popular of them.
After creating a Payoneer account, there will be options for different currencies in the balances section of the homepage. To get paid in dollars from these options, press the dots in the upper right corner of the option that says USD. Then select Receiving accounts.
- In the section that opens, click the view details button.
- You can see the 9-digit Routing number and Account number required by us in the Account details section. Copy and paste them to the relevant sections in the panel shown below.
- You should put the above information in your Amazon panel.
After creating your Hyperwallet account, click the Add transfer method button on the homepage.
- From the panel that appears, select your country and the currency in which you will receive the money. Then click on the Bank account button under the Select transfer method heading and proceed with the Continue option. As you progress, it will ask you for some information. This information; From which bank you will receive the payment, to which IBAN number you will receive the payment and the Swift code of the bank from which you will receive the payment (You can learn your Swift code by searching on Google).
- After entering the required information, this screen appears. Click Confirm at the bottom.
- After pressing the Confirm option, you can see your Routing number and Bank account number on the panel that appears. Copy and paste them to the relevant sections in the panel shown below.
- You must enter the information in the relevant places on your amazon panel below.
After creating your Wise account, select the currency in which you will receive the money on the left side of the homepage.
- In the section that opens, click on Your USD account details.
- You can see your Routing number and Account number in the panel that appears. Copy and paste them to the relevant sections in the panel shown below.
- You must enter the above information in the relevant places on your amazon panel below.
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