Amazon will convert your money from USD to CAD and then deposit it to your bank account even if you give them USD banking info they don’t care, they just look at the fact that your bank is in Canada and they’ll convert your money to CAD, and that’s loss of 2% profit margin instantly, now you have to convert the CAD to USD to send money to you supplier and that’s another 2% loss of profit margin to currency exchange fees. needless to say wire transfer fess and monthly account fees are absolutely outrageous using a bank instead of transferwise.
I use BMO e-business banking coupled with transferwise business account to save money on exchange and get USA base banking details. (I sometimes use my corporate stock brokerage account to convert USD to CAD using market live rate with zero fees, but this is way too complicated)
if you really want to go with a bank, then you may open BMO Harris in USA (you need to get an EIN from IRS) and BMO Canada and then get BMO corporate credit card from BMO Canada that’s in USD for expenses and suppliers. it’s kinda like cross border banking for corporations. RBC has the same thing and I believe their branch is in Atlanta, GA but their monthly fees for businesses is whopping $150 USD/month with no minimum balance as fee waiver compare to transferwise which offers zero monthly fee and the wire fee is even worse at RBC.
Hope this helps
Thanks for the heads up, I’m sorry to see this happened to you. I am not an expert but I would say play by the rules for awhile as they may have an eye on your account.
amazon sales are slow in many categories thanks to delay in deliveries ( in kitchen and dinning the prime deliveries went from next day delivery to 3 days) and amazon prime badge removals.
I actually experienced the same regarding restock inventory limit, my inventory limit raised from 200 to 370. I think they consider sell through rate to determine restock inventory limit for brand new product.
Hopefully we all can have a good blast of sales on upcoming prime day 🙂
when you use freightos, give the freight forwarder that you book a call, and they’ll help you with everything, they should be able to take the shipping cartons from you and palletize them themselves, they’ll even put the shipping label on the pallet/cartons, but they’ll most probably ask you for FBA labels either you email it to them or you put it on the shipping cartons yourself
some freight forwarders charge around $50 for applying FBA labels on the shipping cartons and some don’t, you can have them do it once and right, or you can look up amazon shipping guidelines and do it yourself and save on cost.
I would advice against palletizing yourself, instead have the freight forwarder take care of palletizing. There are international guidelines for what kind of wood the pallet should be made of, and if it is fumigated or not,….and so on. It just doesn’t worth the potential headaches and delays in my opinion
Thanks for input Isaac, I just don’t know how I forgot about hybrid FBA & FBM, I guess that’s what happens when I sit all day refreshing campaign package to track every single click and impression, the joy of first few sales ever on amazon after busting through so many mental barriers, overcoming all the negativity and hassles caused by covid and getting where I’m today just sent me to different world.
I’ll get the units shipped out to 3PL asap, once get the FBM listing up (and be my very own hijacker :D) and then run last launch. 🙂
Wow, thanks for a thorough reply, yeah I absolutely understand your point on rebate but I just don’t have the inventory for it, due to 200 units ASIN limit, and If I choose to do rebate, I’ll rank on page one and finish my inventory by the time I get there, so what’s the point of ranking only to have no inventory left over when the listing gets there? and then falling back down the ranking once the restock inventory checks in?
My ads show up on the top of the page 1 of the main keyword. I actually got few clicks and higher impressions on broad and exact campaign as of writing this post, so yeah you’re right, I’m a bit impatient 🙂
I’m pretty confident on the accuracy of the keywords and their relevancy to my product. I used my competitors ASIN to lookup the keywords that they rank organically on top half of page 1 for a particular keyword, and I also checked the product category to make sure I’m under correct category as well.
I’ll definitely will go through training and try to practice patience and follow guidelines.
I’ll keep you posted on my progress
I just read some where on the forum that I need to wait a bit longer for the PPC to kick in fully
Just to reiterate this is a PPC launch only, I was planning to start give away on day 2 of the launch but the PPC sales were consistently over 5 sales/day, and so I decided to hold off for now.
campaigns are running for only 3 days , I really can’t see how the listing quality might be the problem, I mean how can I say the listing quality is the issue if I’m not getting impressions from broad and exact campaigns and not being shown to the customer in the first place
but in contrast the ASIN targeting goes really well, I particularly get sales from the number 1 competitor at an acceptable ACOS (~55%) and CTR of (1.5%)
Your advice is appreciated 🙂
From personal experience, the quote for DDP only includes shipping + custom brokerage fee (charged for an officer whom gets custom clearance for your goods)
DDP means ”Delivered Duty Paid”, in other words the shipping company that provides you with custom brokerage service will pay the duties for you, and then pass the bills to you. The duty in most cases won’t exceed 25%, 25% is very rare unless you import cotton and fabric products above certain value from China
Unless you have the HTS code for your product, you won’t be able to calculate the custom duty.
if you’re keen to know the cost of duty, you may ask your supplier for HTS code, and then look it up on ”US harmonized Tariff Schedule” website, and then do the calculation based on the value of your inventory.
still that’s not guaranteed because the custom officer may define the product differently and use different HTS code to calculate tariff
PAB cell for duty is considering the worst case scenario and tariff of 25%, so if you get good numbers with PAB, there is a very good chance that duty won’t be a big hit to revenue and bottom line.
hope this helps 🙂
Hey Regan, it’s amazon and it’s a tech front runner, I don’t know why they can’t have appropriate error generating system in place.
Thanks for the reply, It’s all taken care of now, I played with the listing for 2 hours and then I realized the character limit for my product title is 100, I thought the limit is 200 characters and so whenever I go over 100 then the system generates that non-sense error which says nothing about the actual problem but causes more confusion! The product ASIN is the same and I didn’t change anything else on ”Vital Info” section.
Thanks for confirming coach 🙂 appreciate your comment 🙂
My Pleasure 🙂
I got the same error, this because you aren’t brand registered, try use the first two letters of your brand name, lets say your brand name is ”Home Stars” then use ”HS” if that fails use ”N/A”, if that fails use ”Generic”.
Then you should be able to have the listing up, create shipping plan (most probably with 200 unit limit for inventory),
you can change the brand name once you apply for brand registry or provide them with the information they asked you!
Hope this helps 🙂
Congratulations, This is impressive, given the restock limits imposed by amazon back in April and delayed inventory check ins.
Your posts makes me want to work harder, Thanks for sharing 🙂