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PingPong Amazon Global Payments account review

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PingPong Amazon Global Payments
Fastest Transfer Speed
3 days
Minimum Transfer Amount
$1

Summary

A tidy solution for collecting payments and sending them in local currencies.

Online sellers who work with Amazon marketplaces in select countries may find PingPong's online seller solution useful. Its straightforward, flat fee makes cost assessment easy — and can save your business in the long run.

In this guide

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  • Your reviews
  • Ask a question

What is a PingPong Amazon Global Payments account?

PingPong allows your business to receive payments in AUD, CAD, EUR, GBP, HKD, JPY and RMB when selling with Amazon marketplaces around the world. You can store the funds in your PingPong account and convert to USD when you find an exchange rate you’re happy with.

Because PingPong only charges a flat conversion fee and is based in the US, you can save money and time. Banks can charge multiple fees for incoming marketplace payment transfers, which can result in a much higher cost. And setting up a foreign currency account in another country can be difficult, or even impossible, depending on the size and scale of your business.

How does a PingPong Amazon Global Payments account work?

You can sign up for a PingPong Amazon Global Payments account and be approved in as little as 24 hours. The account is free to set up, and you can potentially get your first month of exchanges free with PingPong’s one-month trial offer.

Once you open your PingPong account and it’s approved, connect it to your Amazon seller accounts. Amazon will deposit your marketplace earnings on the same bi-weekly schedule to your PingPong account. If you wish, you can choose to then transfer it to a bank account in your name.

You don’t have to move the money out of your PingPong account right away. You can keep it and wait for a favorable exchange rate, or use it to pay VAT or suppliers in their local currency.

Currently, you can only use your PingPong account with Amazon seller accounts in select countries. You can keep funds in your PingPong account in the currencies listed below, but can only withdraw USD:

  • AUD
  • CAD
  • EUR
  • GBP
  • HKD
  • JPY
  • RMB
  • USD

PingPong offers its services to all sellers in the US, except those living in Florida.

How much will I pay with a PingPong Amazon Global Payments account?

One of its top perks is PingPong’s straightforward fee structure. The exchange rate you get is the same as PingPong gets with the banks it partners with. Instead of paying some nebulous amount on the spread, you’re charged up to 1% of the amount being converted.

The flat fee can make calculating your costs simpler than trying to wade through conversion spread hikes on top of other fees that banks or other seller accounts might charge. By simply paying 1% of the amount or less, you can easily track what it takes to move the payments you receive from Amazon to the US.

Pros and cons of using PingPong as an online seller

Pros

  • Simple fee structure. You’ll only have to pay up to 1% of the amount you convert when changing currencies.
  • Exchange rates match the bank. PingPong advertises that it uses the same exchange rate it gets from the bank.
  • Open an account quickly. Sign up for an account online and be approved in as little as a business day.
  • Free VAT and supplier payments. You won’t pay extra to send payments to your suppliers or make VAT payments with your PingPong account.

Cons

  • Not available to all US residents. Florida residents aren’t eligible to use PingPong.
  • Limited currency options. US sellers only have eight currencies to work with. Other multicurrency accounts provide dozens.
  • Not compatible with all marketplaces. You can only use your PingPong account with Amazon seller accounts in select countries.

Compare other online seller accounts

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
1 - 17 of 17
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
OFX (online seller)
OFX (online seller)
24 hours
$0
Global Currency Accounts for online sellers: Manage supplier payments and receive USD, EUR, GBP, CAD, AUD and HKD into a local bank account to manage global cash flow.
CurrencyTransfer for online sellers
CurrencyTransfer for online sellers
24 hours
$0
CurrencyTransfer is an online marketplace that lets you shop around for the best exchange rate. Use it to take your ecommerce business to the next level.
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
Wise (TransferWise) Business for e-commerce
Wise (TransferWise) Business for e-commerce
Within minutes
From $8.16
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Currencies Direct (business)
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Western Union
Within minutes
From $0
Enjoy $0 fee on your first online transfer. Western Union makes money from currency exchange. Not valid on credit cards or sends to Cuba.
Western Union sends money online to friends and family in 200+ countries and territories around the world.
MoneyGram
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
Airwallex
Airwallex
Within minutes
$0
After spending $15k in your first 90 days, receive a one-time $500 bonus that will automatically be credited to your account on any FX conversion.
Airwallex can help you make business payments to 150+ countries in 60+ currencies.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
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How do I sign up for a PingPong Amazon Global Payments account?

To sign up for an account, have the following documents ready, depending on your business type:

Once you have your documents ready, follow these steps:

  1. Go to the PingPong website and select Sign up.
  2. Select Business for your account type and fill in the requested information.
  3. Click Sign up.
  4. Follow the prompts and input the requested information.
  5. Submit your application and wait one business day for a decision.

Where can I find my routing or account number?

Log in to your PingPong account and select Store management. Under Operation select Details to get your bank account number.

Is my money safe?

PingPong abides by industry standards when it comes to safeguarding your money and information. Its website uses standard Secure Sockets Layer (SSL) encryption to protect your information. Access to your personal data is also limited to employees who need it for business purposes and who’ve been trained in confidentiality best practices.

Outside of company policies, PingPong also follows government standards for all the countries it operates in. For the US, it’s registered with the Financial Crimes Enforcement Network and is regulated by the EU’s General Data Protection Regulation.

Bottom line

PingPong takes an extremely focused approach to its multicurrency online seller accounts. Weigh the low cost with its limited compatibility to multiple marketplaces and currencies.

Frequently asked questions