Recently, some sellers told the editor that they had received a notification from P Card ( P ayoneer ) about a comprehensive switch to Euro accounts. They were worried about the normal use of the account and whether it would trigger Amazon K YC review.
As the payment service provider with the largest market share, the movement of P- card has concerned many sellers. What caused this account switch and how big is the impact? How should sellers deal with it? Let's find out.
What causes account switching? All sellers have heard about the bankruptcy of Wirecard in June last year . P Card was affected because it cooperated with Wirecard to collect payments from euro accounts. After a short routine regulatory review, all accounts were quickly restored to normal use. https://mp.weixin.qq.com/s/Dka3veqzezk2yfIg1qBTUw The editor learned that this account switch is the aftermath of the Wirecard incident. After a year, Wirecard recently announced a restructuring arrangement and will terminate the bank account collection business. In order to ensure smooth customer collection, P Card will change the partner bank of the euro collection account for sellers before May 26 , and will start the migration in batches from May 28 , so the above notice was issued.
Will account switching affect normal use? Regarding the issue of account switching, some sellers may worry about whether account switching will affect normal use?
Since last year, P Card has provided European sellers with backup Citibank accounts. Many sellers have already completed the switch to Amazon payment accounts in advance , and the accounts are working normally . Therefore, sellers with doubts can rest assured that there are predecessors who have paved the way.
According to the official notice, the full migration of Euro accounts will be carried out in batches, and P Card has also made sufficient preparations. During the entire account migration process, the seller's Euro balance will always remain in the P Card balance, and the funds will not be affected.
On the one hand, they have cooperated with Citibank to provide a new payment account to ensure that everyone can receive payments smoothly . On the other hand, P Card has also communicated and cooperated closely with Amazon to prepare a series of supporting plans for the K YC review that may be triggered by the switch of the Euro payment account , and will provide full guidance and assistance . Even if a K YC review occurs, it will be passed in the shortest possible time. Therefore, sellers do not need to worry about the account switch affecting normal use. To reduce KYC audit risks, sellers can do this... Amazon's European site has always been a hotbed for K Y C. The editor has learned that in order to relieve sellers' worries, P Card has made a complete plan to ensure the smoothness of the process to the greatest extent possible.
The editor recommends that all sellers should follow the instructions in the P card email as much as possible and switch in batches to avoid causing greater risks. If you have any questions during the account migration process, you can communicate with the P card account manager or customer service.
Black swan events like Wirecard are rare in a century. As an international payment giant and a long-established company with more than ten years of experience, P -Card has rich experience and unique advantages in dealing with similar issues. Its partners around the world and its ability to quickly communicate with banks and various platforms are unmatched by other companies. When solving customer problems, P- Card is even more cautious and responsible.
During the Wirecard incident last year , P Card responded and handled the situation promptly and promptly within seven days, and the sellers’ funds were intact, setting a record in the industry. This account switch is a normal adjustment, so sellers should be patient and not worry. Payoneer Amazon KYC |
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