The Deposit Method verification is cross referenced to the Legal Entity name and address.
If Amazon has made changes to your Business Name and Phone Number, you can go in and change it back to what is correct. This will/may trigger a post card verification of the business address; however, this does not effect the Deposit Method verification.
For Deposit Method verification, the Legal Entity name = Deposit Method name and Legal Entity address = Deposit Method address. This is the name and address that needs to appear on the bank statement.
Official Registered Address - I do not have this option but it would be helpful
Business Address and Phone Number - Currently matches Me @ Home and is Verified OK, it really should be the LLC at the physical store address, will changing this back to match the bank info help pass the Banking Verification???
**Bank Verification - Is in my LLC at the physical store address.
I am set up as an Individual, the Amazon 1099K comes to me personally, registered with my SS, Sales Tax license is registered to me personally…my bank account is in the name of my LLC. There were a whole slew of Amazon sellers that ran into this issue when the Verification first started.
I just changed my name because on the Bank Statement it says IRIS KORTHAUER DBA DOILY BOUTIQUE II…and it triggered another post card.
My statement also doesn’t have the FULL account number…so I asked for a Plan B and also attached a copy of a check which does have the full account number.
everything so far is Verified except my LLC Bank Account, which has been rejected x2 because the LLC name doesn’t match my Legal Entity which is me
Escalated Rep told me to upload a new bank account, my PERSONAL bank account, which is in my name, which will match the Legal Entity…(actually, it has my middle initial instead of middle name, and it has my wife’s name also, but I’m assuming it’s a close enough match to go through, and honestly I don’t have any other bank accounts to choose from LOL)
Or, I can change the Legal Entity and Re-Do the tax interview and make it match the LLC Bank Account , which is much more complex of a task, and frankly, incorrect…(Single member LLC in Michigan is a disregarded entity, basically a Sole Proprietor w/ liability coverage, income shown on my personal tax return, tax license is in my personal name etc)
Gee I’m scared to delete my LLC bank account and add a personal one, current balance is $2200 due next Wednesday, I might put the store on vacation mode until I’m sure I’m going to get paid somehow…
I’ve gotten no response from the mods on the NSFE, nobody at Amazon seems to have any idea how to handle this other than “there’s an internal team working on this exact issue, but we don’t know what the solution is currently”
I thought of adding my personal name to the LLC account, but June 30 is my statement closing date for both accounts (same bank). This is a small town bank, as a last ditch effort, I might be able to have them add it and re-print the statement from May 31st, but I’m not positive. I offered the rep to upload my articles of incorporation showing that I sole-own the LLC, but she didn’t want that;)
I just added my personal bank account and submitted bank statement for verification. I figured at this point, what the heck, right?
Putting your Account on Vaca mode will just stop orders from coming in; I’ve been seeing a lot of posts recently from sellers coming off of Vacation mode complaining they are struggling to get sales and believe it’s directly related to going on vacation. So just an FYI…
The Name on the Bank Statement must match the name under the Legal Entity, so it’s unlikely Amazon will accept or look at additional documentation.
Are you ok with the disbursements going into your personal account?
It’s a workaround for now, but I agree with Marbles you should update your Business Bank Account to include your Personal name. The update and new statement should work for verification, but if you don’t want your Amazon deposits permanently going into your Personal Account, wait for all of this to be over.
Then update your deposit method again (after your new statement reflects your name); back to your Business Bank Account. I believe it takes 3 business days for Amazon to verify, so make sure to give it plenty of time before your next scheduled disbursement.
My personal Bank Account was verified Successfully! So that’s a good thing.
I uploaded my personal account this afternoon and it was verified within 4-5 hours. Yay!!
(For now, I am happy to pass the verification, I already requested the bank add my name to the LLC account heading and as soon as I get a statement that shows as such I will verify that one). I can deal with transfering money to my LLC temporarily.
I am not sure, but Am I good to go now for INFORM verification, or did I just pass a smaller hurdle?
Email says:
Now, my question is that I still have the yellow banner, my green checkmark does not appear next to the banking yet:
And I’m unsure what to do on the Deposit Method Screen (first one is personal, second is the LLC)
…do I need to delete the “default” LLC account completely?
There is also a pending Case in my Case Log about INFORM VERIFICATION when I was going back and forth with them about the LLC account, hasn’t had a reply from them since 6/10, not sure if I should leave it open or close it?
Also, lastly, I had requested a postcard to verify the physical store address, hasn’t dispatched yet, should I cancel or also verify that when it arrives? (I don’t wanna screw up something that is already OK’d)
The email received was solely in regard to your deposit method being accepted and ready for disbursements,
You will now need to wait for Amazon to verify your Bank Account info under the Inform Act; once completed you will see the and within a few hours after that the ‘At Risk’ and INFORM Act banners will disappear.
Close it … it is solved.
Give the Home page and Account Health a couple of hours to update (think ours was 4 to 6) and everything should be gone off of those pages.
Actually, thinking about it, should I reply to that case and tell them “see account XYZ has been verified instead, please close case” or something so that they can see I did it? I have no idea how automated this process is…
18 hours in and still no green checkmark next to banking. Still shows In Process
I just called back in under my support ticket from yesterday and the rep said that:
They are currently having technical issues getting the green checkmark to appear for banking verification that has been completed OK and she claims that as long as I got an email that states that my bank account has been verified, that I am OK. (She could very easily be incorrect)
===== Snippet of my support email after I hung up=======
======================
I can’t remember how I added the new bank account at this point, whether it was via the “Add a new deposit method” on the main Bank account Screen, or whether it was somewhere via the existing bank verification process…
I just want to make sure that I have indeed triggered the bank account to be verified for the INFORM Act and that it gets completed in time (if it isn’t already done)
and within a few hours after that the ‘At Risk’ and INFORM Act banners will disappear.