Slide 1
Slide 2
Slide 3
Slide 5
Slide 4
Slide 6
Slide 7
Slide 8
Slide 9
Slide 10
Slide 11
Slide 12
Slide 13
Slide 14
Slide 16
Slide 17
Slide 18
Slide 19
Slide 20
Slide 21
Slide 23
Slide 24
Slide 24
Slide 25
Slide 26
Slide 27
Slide 28
Slide 29
Slide 30
Slide 31
Slide 32
Slide 33
Slide 34
Slide 35
Slide 36
Slide 37
Slide 38
Slide 39
Slide 40
Slide 41
Slide 42
Slide 43
Slide 44
Slide 45
Slide 46
Slide 47
Slide 48
Slide 49
Slide 50
Slide 51
Slide 52
Slide 53
Slide 54
Slide 54
Slide 55
Slide 56
Slide 57
Slide 58
Slide 58
Slide 59
Slide 59
Slide 60
Slide 61
Slide 61
Slide 62
Slide 63

UK’s Ink Jungle Takes on Amazon Over New Payment Policy for Withholding Thousands of Pounds.

Toner News Mobile › Forums › Toner News Main Forums › UK’s Ink Jungle Takes on Amazon Over New Payment Policy for Withholding Thousands of Pounds.

Tonernews.com, August 10, 2023. USA
  • This topic is empty.
Viewing 1 post (of 1 total)
  • Author
    Posts
  • #423777

    jim
    Keymaster
    Daniel Moore, 48, has a business called Ink Jungle that sells ink cartridges.
    He has £170,000 in reserve – and it is increasing by £40,000 a day, he said.
    Ink Jungle PG545 Black & CL546 Colour Refilled Ink Cartridge For Canon PIXMA MG3050 Printer: Amazon.co.uk: Computers & Accessories
    “The value they will be holding from us is disproportionately high versus the potential refunds processed by customer returns or non-delivery,” he said.     His company turns over about £16m on Amazon and employs more than 20 staff. Daniel said the withheld funds meant he will be unable to pay his £191,000 VAT bill, which is due this week. He has contacted his local MP and the Financial Conduct Authority. (Click here to read what the BBC published about this)
     
    Here’s what Ink jungle’s Daniel Moore had to say to Tonernews.com.
    We won’t go bust, we have enough stock in reserve that we will have to run down but many smaller businesses could go to the wall over this.  My gripe with Amazon is that they shouldn’t need to hold half of any companies revenue for what they state “to pay for returns” when they have our bank and card details as well as holding all of our stock in FBA. They are fully protected.
    Ink Jungle. HP's largest independent partner for inkjet supplies in the UK.
    Our refunds totalled just £2k for the past 30 days so why are they now holding £250k which is increasing daily?  Its simply a smash and grab to hold onto sellers funds to make interest from the funds now interest rates have increased, not to protect themselves.  The reserve they hold should be based on the previous months return rate plus a % in case it increases, not two weeks of your revenue. We have been trading since 2009, they have plenty of data to analyse potential risk.     The reserve they hold is increasing daily with no sign of ability to withdraw any of it. 

    Key points I want to make.
    We didn’t sign up to Amazon holding up to 50% of our monthly revenue continuously.  I can’t find any terms that I agreed to stating they would do this. No need to hold onto seller funds if they have our bank and debit card details. Disproportionate amount of funds being held. i.e why is Amazon holding £250k when only £2k funds were refunded in past 30 days? Poor comms from Amazon – sent emails to wrong email addresses. My emails were sent to my login email not my Account Notifications email so we missed the communication. Inability to talk to Amazon, emails being ignored. Not viable for most sellers to leave Amazon given its our largest channel. Sellers unable to buy stock, pay bills and wages.  Actions taken by Amazon could be deemed as anti-competitive as it weakens our position to replenish stock and now unable to pay creditors which could lead to reduced credit lines from our wholesalers/distributors. Amazon lending sellers own money back to sellers at 14% whilst also making interest on seller funds now interest rates have increased.

    Daniel Moore: Director
    Ink Jungle Limited / http://www.inkjungle.co.uk

  • Author
    August 10, 2023 at 3:28 PM
Viewing 1 post (of 1 total)
  • You must be logged in to reply to this topic.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty, or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action based on the content on our site.