For an international seller who is selling on multiple Amazon platforms, it is crucial not to ignore the different currencies Amazon uses for payments. As the exchange rate of the currency can vary an have an impact on your profit, make sure to take aktion.
In the US, the currency is obviously the USD, however in Europe it gets a little more complicated.
European sellers have to deal with 2 currencies
An Amazon seller, selling on multiple European marketplaces of which at least one is the UK, will have to deal with two currencies. Amazon offers the disbursement of payment in GBP (£) for all sales from the UK and in EUR (€) for all sales from Germany, France, Spain and Italy.
Use the Amazon Currency Converter
When the currency of the country in which the seller’s bank account is located is different from the currency in which the customers pay for the product, sellers are asked to change the disbursement currency by using the Amazon Currency Converter. This leads to unnecessary currency rate exchange losses.
For example: If you are selling in Germany and you have your bank account in the UK, the disbursement currency is automatically exchanged from EUR to GBP.