Here’s an important warning for all third-party sellers on the Amazon marketplace.
Changing your bank account information at a time when the retail giant has just rolled out a new security measure may result in the suspension of your seller account.
To protect you and other third-party sellers from persistent hackers, Amazon has come up with a Two-Step Verification (2-SV) which adds an extra layer of security to your account.
So at the moment, the company doesn’t welcome any changes which you might make to your bank account details; noncompliance will lead to your account’s suspension.
Sellers whose accounts have been suspended had to wait for hours or even weeks to be reinstated.
There are different reasons why you would want to change the information on your bank account, but holding it off for the time being will serve you well.
Closing your existing account and opening a new one could be worse, so avoid doing this at all costs.
Although other sellers are gloating that they have successfully updated their bank accounts and not faced any repercussions at all, a bigger percentage of whom are now crying over spilt milk.
In case your bank has performed a system upgrade and automatically changed your bank account number, it would be wise to ask them if they could possibly activate your new number when the dust has settled.
Don’t let Amazon spot a discrepancy in the bank account which you’ve linked to your seller account, or else you’ll be suspended without prior notification.
Amazon’s extra layer of protection
By enabling Amazon’s 2-SV in your Seller Central account, you will make the job of hackers extremely difficult, if not ineffective.
The additional security layer will require you to enter a security code aside from your login details when you sign in to your account.
You can receive the security code through email, text message or an authenticator app from Google which is downloadable to your phone.
Amazon encourages all sellers on their marketplace to enable 2-SV the soonest time that they can so that they can prevent any potential attacks that may come their way.
Below is an excerpt from the message of Amazon Seller Support:
“We know there are bad actors out there, and while I can’t speculate on their motives, we believe the use of 2-SV is a critical security measure that sellers should enable and keep in their toolbox without waiting until June 30th when it becomes a requirement.”
If you haven’t enabled 2-SV in your Seller Central account yet, head over to the Help & Customer Service page on the Amazon website and follow the steps there.
Some sellers say the sign-up process was quick and simple, but to others it was nightmarish.
Your experience might be different and worth sharing.