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wayjen

Cash Deposit Question and R16.50.

6 posts in this topic

In BoB's help section where they discuss payment options we have the following:

 

Please take note of the following:

Buyers

  • Please ensure you use the correct unique 6 digit reference number starting with a “3” provided by bidorbuy when making payment (this reference can also be used for direct deposits and cash deposits if the Buyer does not have internet banking, the system will reconcile the reference to the correct order). If the correct reference is not used, it may hamper the process and delay the payment reconciliation, thus delaying your order.
  • Cash deposits attract a R16.50 cash deposit fee payable by the Buyer.
  • If an incorrect reference is used, bidorbuy or the Seller may ask you to send a proof of payment to billing@bidorbuy.co.za so the payment can be traced and allocated correctly.
  • bidorbuy does not act as a trust or escrow service, nor do we offer any guarantees regarding payments and delivery.

What happens when a Buyer does a cash deposit into the BoB account number, does BoB deduct these fees?

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Hi Wayne

 

Yes, the full amount goes into the seller's bobpay account and then the R16.50 is deducted from the seller's account.

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Thanks Tananka, so if I understand correctly, if a buyer buys from anyone and they pay cash into BoB's account and we don't tell them that should they pay via cash deposits that they must add that amount, we will be R16.50 short at the end of the day?

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Hi Wayjen

 

During the checkout process, the buyer will be presented with the seller's payment options. If the seller has bobPay EFT activated the buyer should see a notice that if they intend making payment by cash deposit they should add the R16.50 to the total and if doing an internet transfer (EFT) not additional fees apply.

 

It is definitely possible that a buyer might not add the R16.50 when making a cash deposit and once the payment is matched, the money will be allocated to the Seller's account and then the bidorbuy system will also process a bank charge of R16.50 against that account regardless of whether the buyer added the additional R16.50.

 

Hope this clears up any confusion.

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Thanks Mr JacoJ

 

I think that is what I was after. I have someone questioning my fees with regards the R16.50 and when I directed them to the article in the HELP section and the PAYMENT side they were quick to say I lost a Buyer. The funny thing is, this person has the same R16.50 on his listings and when I asked why this was there he responded thus,

It is a BIDORBUY REGULATION that I DO NOT APPLY. Ask any of my buyers. You will NOT BE penalised by Bidorbiuy if you do not apply this regulation.

I have lost a sale whilst he has lost money or will in the future.

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This is a fee which the bank charges for cash deposits, why should sellers absorb this fee. If this buyer/seller in question wants to waive the fee, that is his decision but it is unfair of him to expect other sellers to do the same.

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Maybe this seller has got a cheap enough item to buy and I should buy it and pay cash into BoB's account and then I see what he has to say when they deduct their cut.

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