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Discussion Starter #1
Did anyone else get an email today that said....

"Due to recent changes with our banking partners, we may have processed your direct deposit payment as a wire transfer.

To avoid potential wire transfer fees and ensure your payments are processed correctly, sign in to your KDP account and update your bank account number to be at least five digits long. If your bank account number is less than five digits, add zeros in front of the account number so that it is five digits. For example, if the bank account number is 123, enter 00123.

To update your bank account, delete the old account and follow the instructions in Help to add a new bank account:"


Let me know, thanks
 

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I've gotten this same notice from several accounts in the past.  Don't remember if KDP was one, or not. I've been getting direct deposits for years, and nothing changed.  I still get my KDP and never changed anything in my accounts, including KDP.

Maybe it's possibly a new security method in some banks?? 
 

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Discussion Starter #4
Okay so you never had to change anything?

By the way guys do any of you when you go to account settings get prompted to have them send a one time password to your mobile?

And if yes, what happens if that mobile on the account isn't one you use anymore? How can you change that?
 

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Well, am not sure about that, but I suspect you'd access your author account and change it on a PC, or go to author account and ask Amz help desk to call you.  Be prepared to prove you are U ... :)
 

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You should always update any contact or other account information before it becomes obsolete. Amazon can only contact you with the email or phone you provide.

To change any info, you go to your KDP account and look up top where it says Your Account. You'll be asked where to send an OTP code. If the previous contact is not valid, you're going to have problems.
 

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I got the email and I'm changing my banking info even thought it appears things are okay for now.

The email said they have changed banking partners, and we have no idea which partners in which countries. Since I'm not in the USA, better safe than sorry, I would think.
 

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ImaWriter said:
I got the email and I'm changing my banking info even thought it appears things are okay for now.
May I ask, why are you making any changes if everything appears okay? I'd received the same email, checked my account banking status and it's in the green, looking fine, so I'm reluctant to do anything to it.
 

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Corvid said:
May I ask, why are you making any changes if everything appears okay? I'd received the same email, checked my account banking status and it's in the green, looking fine, so I'm reluctant to do anything to it.
I received this AMZ email, too. I went to my account and everything looked fine, so I did nothing.

I think the notification might have been tied to my Amazon purchase of a small bookcase. Amazon took the money from my account, then advised me the bookcase was no longer available and refunded the money into my bank account. Of course this transaction had nothing to do with my Kindle account, but stranger things do happen. :D
 

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Corvid said:
May I ask, why are you making any changes if everything appears okay? I'd received the same email, checked my account banking status and it's in the green, looking fine, so I'm reluctant to do anything to it.
Because Amazon or anyone else can change their banking partners at any time. If there is some new or emerging industry standard that says bank accounts need to be x number in length for proper digital communication--and I don't know if there is--why not make that change in advance if your account number doesn't match the criteria?

Murphy's Law rules for me. It would be the one time I'm anxiously awaiting my payment that Amazon changes partners again, and it doesn't get processed correctly.

Having said all that, I guess if I lived in a country where the cross border banking situation with the US is more convoluted than what I face here, I would probably hesitate to make changes to my banking info. I've heard horror stories of people trying to get Amazon communicating correctly with their bank.

I typically stand in the middle of "if it isn't broke, don't fix it" and "this has the potential to go very wrong." This time I decided to err on the side of caution. But that's just me. :D
 

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ImaWriter said:
Because Amazon or anyone else can change their banking partners at any time. If there is some new or emerging industry standard that says bank accounts need to be x number in length for proper digital communication--and I don't know if there is--why not make that change in advance if your account number doesn't match the criteria?

Murphy's Law rules for me. It would be the one time I'm anxiously awaiting my payment that Amazon changes partners again, and it doesn't get processed correctly.

Having said all that, I guess if I lived in a country where the cross border banking situation with the US is more convoluted than what I face here, I would probably hesitate to make changes to my banking info. I've heard horror stories of people trying to get Amazon communicating correctly with their bank.

I typically stand in the middle of "if it isn't broke, don't fix it" and "this has the potential to go very wrong." This time I decided to err on the side of caution. But that's just me. :D
Fair enough. Thanks for answering.
 
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