Hi. I’d assume that there would be a big benefit from having a US bank
account or two when selling on Amazon.com. What’s the best way to get
one?
Hey Ed,
that is a great question that most non-US sellers forget about.
I’m not sure what country you are in, but there are great benefits of having a US bank account.
Actually, I can only think of 1 benefit, but it is a big one. It’s 2 to 3% of your conversion.
So the more you sell the bigger the amount you will lose during the transactions if your account is not in the US.
Technically your bank doesn’t need to be in the US.
For example, in Canada, there are a couple options of Canadian banks that offer that service.
Like the RBC Access US account.
Amazon will send US dollars to will send US$ to any ACH enabled bank account, so ask your bank if they have that option.
Normal accounts in Canada use CCH to handle money transfers.
On top of this, you can use the USD from that account to pay your Chinese suppliers, and you save again for the second time 🙂
Hope this helps
Quin