Ink Jungle headlines BBC Business News for Amazon withholding seller funds
Published by Daniel Moore on 9th Aug 2023
Ink Jungle Director, Daniel Moore, hits out at Amazon for withholding a disproportionate amount of seller funds. On the 3rd August 2023 Amazon introduced a new policy which affects all third party sellers who sell on their platform. Funds of up to two weeks are being unfairly held back by Amazon "In case of returns and refunds" despite having 0% defect rates and 0.13% return rates. The "one-time cashflow disruption" Amazon are calling it is an insult to the hard working sellers who have help build up Amazon to what it is today.
"Last year we gave Amazon almost £2.5m in fees and we still don't have an account manager to discuss problems with. Our open cases with their customer service just get ignored. This policy is devastating our ability to pay our VAT bill, replenish stock, and owed invoices. We only had £2000 worth of orders returned last month but Amazon are withholding in excess of £263,000 now which is increasing by £40,000 daily." states Daniel Moore from Ink Jungle Limited.
Press coverage so far includes
Amazon releases some funds to sellers - BBC News
Small Business Minister contacts Amazon - BBC News
Amazon sellers complain site is withholding money - BBC News
MPs that have been contacted so far include
- James Sunderland
- Stuart Andrew
- Antony Higginbotham
- Edward Timpson
- Kevin Hollinrake
- Harriet Baldwin
- Tony Lloyd
- Rebecca Harris
- Tahir Ali
- Sarah Olney
- David T C Davies
- Steve Tuckwell
- Kemi Badenoch
- Karin Smyth
- Dr. Ben Spencer
- Luke Hall
- James Murray