Many Sellers use Payability while also utilizing Amazon's lending program. The below information outlines how an Amazon loan works with your Payability account:
- If Payability is the payee on your Amazon account, you will get your loan disbursement through Payability. As with any Marketplace Payment, it can take up to 1-2 days to process and post to your account. Once received, Payability will pass the entire loan disbursement through to your available balance. Since this is not part of your daily sales, no fee will be charged on the disbursement.
- If your bank account is the payee on Amazon (ACH debits), the funds will be deposited to your bank account and Payability will debit only the portion of sales we have advanced you. We will NOT debit any portion of your Amazon loan disbursement.
- Amazon will charge your loan repayment directly from your Amazon statement balance. To account for the lending payment chargeback, our system will reserve a set amount each day and release this Loan Provision Reserve once the loan payment is posted to net out the loan payment chargeback we will pick up. This prevents Payability from over-advancing you the amount of the loan payment and your Payability available balance falling negative. You can read more about the Loan Provision Reserve by clicking here.
- Important! When working with Payability, we recommend setting up a bi-weekly loan payment with Amazon. The benefit is that the expected Amazon Lending payment will follow your normal 2-week statement period rather than one large lump sum on a monthly basis. That way, our system will accrue the Loan Provision Reserve over the 14-day period, according to what Amazon will not pay out and you will not have a Loan Provision Reserve when no lending payment is due. If you wish to change the billing schedule, you can do so in your Amazon Seller Central account. When logged in, click on: Reports > Payments > Lending > Select the active loan on top > Under 'loan information' select 'Change billing plan'. If you don't see that option on your account, you can reach out to Amazon at firstname.lastname@example.org.