Daily Payouts coming soon!

Two weeks is way too long to wait for a payout for many sellers, especially those just starting out wanting to re-invest their profits. I’m happy to say that it’s come to my attention that Amazon is in the process of changing those restrictions by allowing withdrawals every 24 hours!

A friend of mine was talking to  Seller Support about a large pending balance recently when they dropped quite a bombshell on him by telling him that sometime in the next couple weeks he’d have the option to start requesting daily payouts. When he told a few of us about this a mad scramble to verify it ensued and based on several conversations with seller support this is the information that we obtained.

  1. Yes, the option to request payouts once every 24 hours is coming soon!
  2. Sadly, not everyone will have access to it. New sellers that signed up July 1st, 2016 or later will be the first ones to have access to this feature.
  3. There is currently no timeframe for when sellers that signed up before July 1st will have access to this feature but it is coming.
  4. There may be limitations on what money you can withdraw based on the delivery timeframe of the item. A couple different support agents mentioned something about the amount that you are able to withdraw being subject to some sort of 7 day window from estimated delivery date but it’s exact impact on withdrawals is unclear at this time.

UPDATE – Having spoken to a new seller who has access to this feature we have a bit of clarity on what the 7 day window mentioned above actually entails. It appears that you are allowed to make daily payout requests but restricted to sales that happened at least 7 days ago.

Thanks for the further information Michelle!

Screenshot 2016-09-07 20.35.16Screenshot 2016-09-07 20.35.38

 

While the same information has come from several different seller support agents it does remain to be seen if this is actually implemented. After all, my support rep was named, I kid you not “Cinderella”.

Cinderella with Seller Support

Another rep put it this way.

“If your account is eligible, you will see a “Request Transfer” button to initiate a payment to your bank account. You have the option to use this button once every 24 hours. Keep in mind that your next automatic settlement  date will be reset to 7 days after the date you push that button.”

Since I’ve been selling on Amazon since January of 2015 this news doesn’t have an immediate impact on me but I’m glad to see Amazon start to move towards paying out more often as it will help a lot of folks build their Amazon empire quicker!

If you are a seller that signed up sometime AFTER July 1st of this year please check your account and see if the “withdraw now” option is showing up in your account and comment here if it is. To get to the page from seller central click on “Reports” then “Payments” and see if you have the “Request Transfer” button on that page.

Cheers!

Matt

 

 

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Matt Colvin

6 Comments

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  • Are you sure about this? I called Amazon a few times and they said that new users that registered after July 1, 2016 do not have this option and that they know of no plans to implement daily payouts in the future.
    Do you have anything else we can use to validate this information ?

  • Ok I talked to a rep that said changes are in the works. He said that payouts will be released as early as 7 days after EDD or estimated delivery date.
    Don’t know if these changes are going to speeden up or slow things down but doesn’t look like it’ll change much.

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