What Is Amazon EDI Payment? (Explained)
What Is Amazon EDI Payment? – Amazon usually sends few bucks to bank accounts of their vendors, these payments are known as EDI payments.
While this amount may look insignificant, there has been lots of questions as to why is Amazon sending such small deposits, several vendors have been surfing the internet to know what is Amazon EDI payment.
On this article, you’ll read on the meaning of Amazon EDI Payment and the possible reasons why you are seeing the small deposit in your account.
- What is Amazon EDI Payment?
- Reasons For Receiving Amazon EDI Payments
- How To Know The Type Of Amazon EDI Payment You Have Received
- Why Did I Get An EDI Payment From Amazon?
- Should I Get Worried After Receiving Amazon EDI Payment?
- Amazon Pay Collect Payment
- How To Get Paid On Amazon
- Steps To Take In Order To Get Paid By Amazon
- How Does Amazon Pay You?
- How Long Do Amazon Payments Take To Arrive After Settlement?
- Amazon Penny Test
- Why Haven’t I Receive Amazon Penny Test?
- EDI Payment On Bank Statement
What is Amazon EDI Payment?
Amazon EDI payment are the small amounts that are deposited on a seller’s bank account by Amazon, these deposits are done separately from the normal regular deposits paid to sellers by Amazon.
EDI is an acronym for Electronic Data Interchange, this is mechanism that is put in place to ensure that business documents between sellers and their business partners are processed smoothly.
Reasons for receiving an Amazon EDI payments depends on the transactions done by the seller.
In summary, Amazon Edi payments are modest amount of money paid by Amazon into a seller’s bank account in addition to the normal deposits paid to vendors.
Reasons For Receiving Amazon EDI Payments
Every EDI payment made by Amazon is for a reason, it’s not the regular deposits that are made to vendors. Below are some of the reasons why you received Amazon EDI payment.
- Amazon Associates payments.
- Automated Clearing House-enabled United States checking account verification.
- Unlabeled commission, this is a payment to an affiliate account that was closed but had generated revenue.
- Payment from 3rd party companies like Google Adsense, etc.
How To Know The Type Of Amazon EDI Payment You Have Received
You may find yourself confused after receiving an Amazon EDI payment, this is especially if you were no longer affiliating with them or selling on the platform.
This doesn’t mean that EDI payments are only received by former affiliates or sellers. Current sellers do receive Amazon EDI payments too, for verifications or from Amazon 3rd parties.
If you receive an Amazon EDI payment and you want to know the type of payment you are receiving, the best way to find out is to contact Amazon customer service. You’ll be able to get the full details of the EDI payment from Amazon.
Alternatively, you can look up your account statement for details on the transaction, this is another good way of knowing the type of Amazon EDI payment you just received.
Why Did I Get An EDI Payment From Amazon?
You got an EDI payment from Amazon because your ACH-enabled United States checking account may be going through some sort of verification process.
It could also be that your closed associate account generated revenue while still be closed. Another reason could be that you have just been paid by an Amazon 3rd party.
Getting in contact with Amazon Customer Service will help you know the reason why the little amount of money was deposited in your account.
Should I Get Worried After Receiving Amazon EDI Payment?
Naturally, receiving an EDI payment from Amazon isn’t something you should be worried over.
However, for the sake of accountability and tax, it is pertinent that you find out why you are receiving the payment.
It is in your place to know the source of every fund that gets into your account, but you should be worried after receiving Amazon EDI payment.
Amazon Pay Collect Payment
Amazon vendors are required to Capture payment after an order has been shipped to a customer to be eligible for payment from Amazon.
Failure to Capture payment would prevent the vendor from being paid for the order. Every Amazon vendor is required to collect payment using Amazon Pay APIs, this should be done the order information provided by the customer.
A vendor has a maximum of 180 calendar days to Capture payment, after which they won’t be able to Authorize payments further.
How To Get Paid On Amazon
For a seller to get paid on Amazon, the seller’s account must be properly set up and in good standing. The seller must specify checking account, have a valid credit card number, sell products only with ‘Amazon Pay’ buttons, only ship products to buyer’s specified address, and Capture payments for orders.
A seller will not receive payment if any of the above mentioned steps are not taken. Curious to read more on these steps? Continue reading this article.
Steps To Take In Order To Get Paid By Amazon
Like we mentioned above, there are five steps to set up account using Amazon Pay, this will ensure you get paid for every item you sell. Find the five steps on how to get paid on Amazon below.
- Ensure You Set Up Your Checking Account: You won’t be paid if you haven’t specified your ACH-enabled checking account. Once you’ve specified this, it means that Amazon can deposit your funds directly.
- Link A Valid Credit Card Number In Your Seller Central Account: In order for funds to be disbursed to your bank account, a valid credit card number must be linked in your account.
- Use ‘Amazon Pay’ Buttons To Sell Your Products: Purchases that are not made through the ‘Amazon Pay’ button won’t be counted, this means you won’t be getting paid by Amazon for such orders. Ensure you’ve set up ‘Amazon Pay’ buttons on your products so they can be counted.
- Ship Products Customers’ Specified Address: Only ship orders to addresses specified by customers. You’ll only receive payments for orders shipped to right addresses and successfully delivered.
- Capture Payment: Sellers are urged to capture payment after they have fulfilled an order. Failure to capture payment will result in non-payment.
How Does Amazon Pay You?
Amazon disbursements are made according to Amazon Pay Reserve Policy. Funds are deposited to a seller’s bank account on the next scheduled date of settlement, this happens after the seller capture payment.
Once a payment has been fulfilled and the seller capture payment, Amazon will initiate an ACH transfer for funds to be transfered to the seller’s bank account.
How Long Do Amazon Payments Take To Arrive After Settlement?
Usually, it takes 3 – 5 business days for funds to arrive a seller’s bank account after Amazon had initiated an ACH transfer, this happens after the account has been settled.
If you had made any change to your bank account information, there will be a 3-day hold on payments from the day the changes took effect, this made also increase the number of days you have to wait for the funds to eventually arrive your bank account.
Amazon Penny Test
Amazon will send a penny to an employee’s bank account once they set up a new direct deposit account. This penny test is to validate the account to ensure it’s ready to accept payment.
Once the penny has been sent, the employee will be notified by Amazon that they have sent a penny test.
Why Haven’t I Receive Amazon Penny Test?
If you haven’t received the penny sent to your bank account, it is possible that you entered the wrong bank account details.
You can also contact your bank to know why a direct deposit was rejected, this should be after you may have confirmed that the bank account details you provided are correct.
EDI Payment On Bank Statement
If you see an EDI payment on your bank statement, it is possible you are either getting paid for revenue generated on your Amazon associate account even after it was closed, payment from Amazon 3rd parties, or ACH-enabled U.S. checking account verification.
Any seller that recently added an ACH-enabled U.S. checking bank account will possibly receive an EDI payment, this is the most common reason for receiving EDI payment.
The second most common reason for receiving EDI payment is revenue generated by a closed associate account.
If you want to find out the actual source of the EDI payment, try getting in touch with Amazon customer service or look through your bank account statement for deposit details.