Open a Business Bank Account in Mexico | Common Questions
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What is Amazon Business? Pros, Costs & Requirements
With $470 billion USD in net sales in 2021, Amazon is considered the market leading e-retailer in the United States.¹
Most users know Amazon as a marketplace for buying consumer goods. But Amazon has a separate platform, exclusive for business-specific goods: Amazon Business.
Let’s see how Amazon Business differs from Amazon, as well as what the difference between Amazon Business and Amazon Prime is.
Pay for Amazon goods with
Wise Business
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What is Amazon Business?
Amazon Business combines Amazon’s user-friendly shopping experience with features tailored to businesses. It’s a marketplace for businesses - big and small - to find products suited to their needs, while benefiting from business-friendly features.
Since launching in 2015, Amazon Business is now used by more than 5 million businesses. On top of this, 55 Fortune 100 companies use Amazon Business. ² ³ ⁴
With Amazon Business, you’ll have access to professional-grade, industry specific equipment. You can invite your current suppliers to onboard with Amazon Business, so you can continue working with them.
Amazon Business also offers business-only price deals, as well as 10% off delivery on recurring orders. Features such as Quantity Discounts simplify the shopping experience. This allows you to see the price discounts for five different order quantities.
You’ll also receive free shipping and delivery on millions of eligible orders. Additionally, Reorder Lists allows you to keep track of and reorder previous products.
You can also create multi-user Amazon Business accounts and set permissions. This allows your team to use the account
If your business has tax–exempt status, then you can sign up for the Amazon Tax Exemption Program, giving you tax exemption on eligible orders.
Amazon Business Analytics gives you insight into your spending activity with automated reporting.⁴
| As of now, Amazon Business is available to users in nine countries: | |
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What is the difference between Amazon and Amazon Business?
The main difference between Amazon and Amazon Business is the target consumer.
Amazon is for people who want to buy consumer goods from businesses.
Amazon Business, in contrast, is for businesses who want to buy goods from suppliers. On top of this, users can benefit from business-specific features.
Is an Amazon Business account free?
Creating an Amazon Business account is a cost-free process. But, if you want to upgrade to Amazon Business Prime, then you’ll need to pay membership subscription fees.⁶ ³
What is Amazon Business Prime?
Amazon Business Prime is a special membership plan for Amazon Business users. It gives you access to extra features and benefits.⁷
Different membership plans are available to Amazon Business Prime members. These depend on the features and amount of users you need.
All Amazon Business Prime members get access to free:
- Two-day shipping
- Same-day/one-day shipping
- Amazon Day Delivery
- Consolidated Shipping
- Delivery on special items⁷
Additionally, Prime members have access to:
- Exclusive Prime Day Deals
- Early Access features
- Discounts on Expedited Delivery.
Depending on which membership plan you select, you can gain access to:
- Amazon WorkDocs. Team collaboration on documents, spreadsheets and more, all in the one place
- Guided Buying. Set certain preferences and limitations, such as preferred suppliers and restricted quantities
- Spend Visibility. Get a clearer, analytical overview of your business’ spending trends and history
- Extended Terms for Pay by Invoice. Extend the time it takes to pay an invoice to 45-60 days, depending on the membership plan⁷
All these extra features give your business advantages when sourcing business products.
What is the cost for Amazon Business prime?
Amazon Business Prime membership fees vary depending on the amount of users and features you need.
Here’s an overview of Amazon Business Prime fees.
| Subscription plan | Amount of users | Annual membership fee (USD) |
|---|---|---|
| Duo | 1 | $69 |
| Essentials | 3 | $179 |
| Small | 10 | $499 |
| Medium | 100 | $1,299 |
| Enterprise | Unlimited | $10,099⁸ |
What is the difference between Amazon Prime and Business Prime?
Amazon Prime is for consumers wanting to get access to special deals, early access, exclusive savings and entertainment benefits, such as Prime Video.
Amazon Business Prime, in contrast, is for Amazon Business users looking to gain access to special features and benefits.
Amazon Business or Business Prime is a better option for business users than Amazon Prime - which is for personal users.
What is Amazon Business Prime Duo?
Amazon Business Prime Duo is for current Amazon Prime users who want to gain additional business benefits. You can do this by paying an extra $69 USD per year for a Duo membership.⁹
This saves you the $298 USD per year associated with having to pay for both an Amazon Prime membership and Amazon Business Prime Essentials membership.
Amazon Business Prime Duo allows you to track invoices, taxes and business orders. On top of this, you gain the benefits of your Amazon Prime personal membership, such as Prime Video, early access deals, and free shipping on eligible orders.
It is, however, restricted to one user only.
What is an Amazon Business account?
An Amazon Business account is the place where you can manage company orders, make purchases and set permissions for related users.
The account administrator can invite new users to create an Amazon Business account, which is associated with the company business account. The administrator can manage all related accounts, and even delete them if necessary.¹⁰
What is needed for an Amazon Business account?
To create an Amazon Business account, you need to be a registered business.¹¹
You first need to register for an Amazon Business account and then wait for the verification process. You’ll need to provide business information, as well as your email address. The verification process can take up to three business days.
Once you’ve been verified, you’re free to start using your account.
In the event your account isn’t verified, you may need to provide further information.¹¹
Additionally, if you already have an Amazon account, you can apply for an Amazon Business American Express card. With this card, you can benefit from an expedited registration process.¹²
Pros and Cons of Amazon Business
Now that we’ve covered the details in depth, let’s see a final comparison of what the advantages of an Amazon Business account are, as well as the disadvantages.
What is the benefit of an Amazon Business account?
- Business-only price deals
- Quantity Discounts
- Professional-grade, industry specific products
- Free shipping and delivery on millions of eligible products
- Reorder Lists to simplify recurring orders and manage order history
- Analytics tool
- Access to Amazon Tax Exemption Program
- Ease and convenience of Amazon shopping experience
- Millions of suppliers to choose from
Amazon Business account cons
- Not all features are free
- Membership plans can be expensive if multiple user accounts are needed
Make Amazon Business payments with Wise
Amazon Business opens you to a marketplace of millions of products. But if these products are sold in a foreign currency, then you could end up losing money on high conversion fees and hidden costs. This is where Wise Business can help.
With Wise Business, you’ll have access to the mid-market exchange rate everytime you convert your money, free of any hidden fees. You can hold over 40 currencies all on one account and exchange between them at the best available rate.
Being able to easily pay in the payment currency means you won’t get hit with any nasty surprises.
Pay for goods at the mid-market rate
With Wise Business
You can even save up to 19x compared to making business payments with PayPal.
| Interested in selling on Amazon? You can read the guide to selling on Amazon Canada or Amazon UK from the US. Set up a Wise Business account & receive local payments with ease from your Amazon seller accounts. | |
|---|---|
| Receive Amazon payments with Wise |
Source:
- Amazon - statistics & facts | Statista
- Amazon Business and Business Prime launch in Canada
- Amazon Business
- What is Amazon Business?
- Amazon Business and Business Prime launch in Canada
- The difference between Prime and Business Prime | Amazon Business
- Business Prime benefits - Amazon Customer Service
- The difference between Prime and Business Prime | Amazon Business
- New Business Prime Duo for small businesses | Amazon Business
- Amazon Business accounts - Amazon Customer Service
- Get started with your business account - Amazon Customer Service
- Apply for an Amazon Business American Express Card - Amazon Customer Service
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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