Amazon has launched Seller Wallet for pounds sterling. If you sell on Amazon.co.uk, you can now hold your UK proceeds in GBP inside Seller Central, pay UK suppliers from that balance, or convert and send them in more than 20 currencies. It is free to open, and transfers to GBP bank accounts are free. Two things matter more than the headline: once you enrol, the wallet becomes your default deposit method, and converting out of GBP costs between 1.50% and 0.75% depending on your volume. It matters most if you are a non-UK brand selling into the UK, or a UK brand that pays UK suppliers.

What changed

  • A GBP wallet now exists. Amazon’s UK page says Seller Wallet “lets you receive and manage your GBP sales proceeds from Amazon.co.uk in one place.” Sources: Amazon’s UK Seller Wallet programme page and Amazon UK’s announcement. ChannelX reported the launch on 5 November 2026.
  • UK and overseas sellers can both use it. Amazon’s announcement says sellers “based in the UK or overseas” can hold pounds and pay UK suppliers directly. It does not list any other eligibility criteria beyond “eligible sellers”.
  • What is free. Opening and keeping the account, and transfers and payments to GBP bank accounts, whether yours or a supplier’s. Source: Amazon’s UK programme page.
  • What is not free. Converting GBP into another currency costs 1.50% at the lowest volume tier, falling to 0.75% at the highest. The tier is set by your trailing 12-month cross-currency net proceeds, measured in US dollars. Converting to CNY has its own, lower schedule. Source: Amazon’s UK programme page.
  • It becomes your default deposit. The programme page says that after you enrol, “Seller Wallet becomes your default deposit method,” and your proceeds go into the wallet automatically instead of straight to your bank.
  • Getting money to your bank is a second step. The page says transfers to your bank accounts “can take 1-5 business days”. You can link up to two bank accounts, and set transfers as one-off or on a weekly, fortnightly or monthly schedule.
  • It is the third currency. Seller Wallet launched for USD on the US store in 2022 and for EUR across seven European stores in 2025, per Amazon UK’s announcement. If you sell in the UK and the EU, you can enrol in GBP and EUR together, with a separate balance for each.

What it means for a private-label seller

If you sell into the UK from abroad, this is a currency decision, not a convenience feature. Until now, the question was whether Amazon’s own conversion or your provider’s was cheaper. Now there is a third option: hold the pounds. If you buy anything in GBP, such as UK 3PL storage, a UK freight forwarder, UK-based creators or your VAT agent, you can pay those bills straight from the wallet and convert nothing. Every pound you don’t convert costs you no conversion fee.

The 1.50% matters more than “no hidden markups”. That phrase is Amazon’s. What you pay to convert is the fee plus the rate you are given. At the lowest tier, 1.50% on £10,000 converted is £150. That is our worked example, not an Amazon figure. Whether that beats what you pay now depends entirely on your current provider’s all-in cost. We aren’t going to guess a competitor’s rate. Get a quote from your provider on the same day for the same amount, and compare what actually lands.

The default-deposit switch is the operational risk. Once you enrol, money that used to go straight to your bank stops in the wallet first, and moving it on takes up to five business days. In late Q4, that gap lands right when you are paying for restock and peak-season ad spend. Enrolling the week a large supplier invoice is due is how a free feature turns into a cash crunch.

Your bookkeeping needs a new account. The wallet is a balance that sits between Amazon’s disbursement and your bank. If your accounting setup maps settlements straight to a bank account, it will stop reconciling the day you enrol. Add the wallet as its own account in your books first.

What this doesn’t tell you

Amazon’s announcement does not say exactly who is ineligible, and its page doesn’t spell out how the US-dollar tier thresholds apply to a seller who sells only in pounds. Nothing in the announcement says Amazon will pay you out any faster, either. The wallet changes where your money waits after a disbursement, not when the disbursement happens. We also couldn’t check from outside Seller Central whether you can switch the default deposit back to your bank without leaving the programme. Look at that setting before you enrol, not after.

What to do about it

  1. List what you pay in GBP. Include suppliers, a UK 3PL, your forwarder and agencies. If that total is near zero and you convert everything home anyway, the wallet’s main benefit doesn’t apply to you. Leave it until you have a reason to use it.
  2. If you do have GBP costs, run one controlled test. Get a quote from your current provider on the same day and for the same amount as one wallet conversion, and compare what each delivers. Then reconcile the Amazon statement, the wallet transaction and the bank receipt for that one payment before you move everything over.
  3. Time your enrolment. Don’t enrol in the same week as a large payment. Before you switch, make sure your cash buffer covers five business days without your Amazon proceeds.
  4. Tell whoever does your books before you enrol, so the wallet exists as an account before the first deposit lands in it.
  5. If you sell only on Amazon.com, this changes nothing for you. The USD wallet has existed since 2022.

Sources