Save money on Amazon Payouts
How to avoid unfair exchange rates for Amazon payouts. Pay your Supplier, the VAT bills or make a transfer to your homecountry. Save up to 2% by using a multi currency bank account.
We, FBA-hero.com teamed up with World First, the currency specialist, to help (our) international online sellers to save time and money.
Whether you’re already selling overseas on marketplaces or just thinking about it, you’ll need an effective way of transferring your revenue back to your home bank account. Banks offer uncompetitive exchange rates which means you could be losing a few percent off your bottom line.
Imagine you’re selling to Amazon Europe from the US making 10k a month. This money will be sent from Amazon to your US Bank Account. Amazon is charching (by using an unfair exchange rate + fees) arround 4% in total for this transaction from Euros and Pounds to Dollars. That’s 400€ a month!
“Unlike most other tools and services, like listings and translations, a well-thought out currency strategy will actually save you money rather than
cost you money.”
Why we recommend World First?
Sure, there are some other services like TransferWise, etc. — but World First offers a real multi currency Account. You can transfer money, make payments to your Suppliers or just hold different currencies.
World First provide free access to international receiving bank accounts so you can collect payments from overseas marketplaces, in the local currency. You can then transfer your funds back home through World First at a great exchange rate — better than those typically offered by most marketplaces and banks — helping you to maximise your profit.
How to manage your VAT filings with FBA-hero.com and World First?
By using a multi currency account you can use the Amazon payouts to pay your VAT bills without exchanging the currency. You can automate the process by using FBA-hero.com as your fiscal representative.
Give it a try, it’s absolutely free: worldfirst.com (Afilliate Link)