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Moneyandbusiness.ca - Your Ultimate Small Business Guide
How to Sell on Amazon.com for Canadians-Updated
How to Sell on Amazon.com- Updated on the 26th April 2018
Previously, its was not possible to sell on Amazon.com using a Canadian amazon.ca account. However, within the last few years, this has changed. Amazon has now setup the unified Amazon account.
How to Setup An Amazon.com Unified Account
The amazon.ca account has had additional features added to it during the last few years. All North American amazon accounts are now combined into one account and named the Amazon Unified account.
A user, only with an amazon.ca account, can now easily apply fro an receive access to sell and buy on amazon.com, and newly added, the amazon.com.mx online marketplaces.
Effectively, making the entire north America accessible to anyone in the territory. whether its America, Canada or Mexico. So, a Canadian can sell from Canada, and advertise products in Canada, USA or Mexico.
Amazon.com will accept a Canadian credit card for payments, and will accept payments to be deposited into a Canadian personal or business account in Canadian currency. However, in practice, thats not a desired result as there will be foreign exchange fees that can significantly reduce the profits made.
Whats recommended, but, not mandatory, is still a US Dollar bank account from the US. Both RBC and TD Bank now offers a US Dollar account in the US, without visiting the US. For that, its preferable to walk into your local branch in Canada, and request one of these two accounts. You’ll be issued with a Visa Debit Card and a US bank account number.
There is also a simpler version of this, whereby a US account can be had with a Canadian address. Its the Payoneer Prepaid MasterCard. This MasterCard offers a bank account in many countries of the world. including US, Canada, Japan, China, Australia, UK and is setup specifically to accept funds from Online Marketplaces in those countries. So, if just North America is not good enough, and global business expansion is a possibility, then this card/account is a must.
However, while Amazon.com accepts this card, and funds can be easily transferred from Amazon to the Payoneer Prepaid Mastercard, and funds remain in US Dollars, eBay is not so friendly at this time towards Payoneer. The Payoneer cannot used for verification, or withdrawal of funds from eBay, only Amazon, Wish, Rakuten, Sears, and others.
Establish a Business in the US?
The TD and RBC US$ accounts issued by the respective banks, will all be US Personal accounts. If an incorporated business needs to be keep its finances properly accounted for, then a separate US business account may need to be setup. In such cases, a business will need to be incorporated in the US, a bank account established, and a separate credit card to be obtained for Amazon.com purposes.
Further Expansion in Europe.
The unified Amazon accounts now allows access to the amazon.co.uk marketplace, effectively placing Europe at your fingertips while still being in Canada. Its just another reason to get the Payoneer Prepaid MasterCard.