KDP Update: Virtual Banks Now Restricted (Important)
KDP recently tightened its payment requirements, and many authors worldwide are now seeing errors like “Only deposit-taking banks are allowed.” This means KDP no longer accepts virtual banks, e-wallets, or fintech-only accounts that don’t hold a full banking license. Examples of virtual banks that may be rejected include Revolut virtual accounts, N26 “Spaces” virtual sub-accounts, Wise virtual balances, Monzo virtual pots, and CashApp/PayPal balance accounts. To continue receiving royalties, KDP now requires authors to use traditional banks or approved Payment Service Providers (PSPs). Examples of accepted traditional banks include Chase, Bank of America, Wells Fargo, HSBC, Barclays, Santander, TD, ANZ, NAB, Scotiabank, RBC, and other banks with full deposit-taking licenses. Approved PSPs KDP currently supports include Payoneer, Wise (approved business accounts), and a limited list of compliant providers under Amazon’s PSP Program. If your current payout method is a virtual bank, KDP may hold your royalties until you switch. Go to KDP → Your Account → Getting Paid to review your payment status. To avoid interruptions, your safest options are: a traditional bank account in your country or a PSP that KDP officially recognizes. This update is part of Amazon’s compliance process, but it means authors must avoid virtual-only banking solutions to prevent payout delays.