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Change to bobPay payout request process

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qball    10
qball

Attention all Verified Users using bobPay - important announcement regarding bobPay payout requests:

 

In order to withdraw funds that bidorbuy is holding in custody for you, you are required to make a transfer request from the bobPay Transfer Request page in the My bidorbuy Selling area of the bidorbuy website. The funds will then be transferred electronically to your designated bank account (South African banks only). Users have 1 free payout in a calendar month for amounts below R3000. Thereafter a R5 bobPay transfer fee will be charged for any payout amount under R3000. For amounts over R3000 no bobPay transfer fee will be charged. If a user has used their 1 free request and requests another payout below R3000, the R5 bobPay transfer fee will be charged. If a user has R5 in their account, the system will not process the payment if a bobPay transfer fee is applicable. A user can also not request less than R5 as a payout.

 

Users will have a UI (user interface) where the banking details will be pre-populated with the last banking details entered. If not previously requested the banking details on file will be used, otherwise it will be left blank. The requester needs to make sure the banking details reflected are correct. bidorbuy will not be held responsible for incorrect banking details received for transfers.

 

The maximum payout amount allowed will be limited to the balance in a users account and the UI will not allow you to request more. Between the times the request is made and the actual payout, the system will take into consideration any fees charged to your account and decrease the payout amount accordingly (if necessary). Before the payout is affected, you can make changes to your initial payout request. If a new request is made, it will replace the previous unprocessed request. If a request is made after the payout, the system will limit it to the available balance again, taking into consideration the payout made already.

 

This is effective as of 1 April 2009.

 

Thank you

Cuan

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Cali Craft and Gems    10
Cali Craft and Gems

Hi Cuan

 

Great idea - thanks.

 

Does this therefore mean that the percentage fee that was previously charged for a transfer will fall away? (or at least be replaced by the "free" and the R5 costs)

 

Kind regards,

Janet

Cali Craft

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qball    10
qball

Hi Janet

 

The 5% fee for using or accepting bobPay payments is still applicable, the R5 fee is for payouts. We do not charge a percentage fee for payouts.

 

Kind regards

Cuan

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Cali Craft and Gems    10
Cali Craft and Gems

Hi Cuan

 

Thanks - I thought I got my wires crossed somewhere...

 

:oops:

 

Kind regards,

Janet

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DarrenO    10
DarrenO

When are payments made once requested, is it at the end of the month or within a few days?:confused: I am really struggling to find info on that on the site. Made a pay out request and still waiting for funds to show in my bank account. Forgive me, I have just seen the funds have shown in my account. Answer, a few days.

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qball    10
qball

It is usually within a day or two depending on when the request was made. Please bear in mind this will take longer if the request is made on a Friday or over the weekend as it is manually processed by our accounts department.

 

Kind regards

Cuan

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disagreeablepin    10
disagreeablepin

Hi, can I use the credit in my account to pay for orders on bidorbuy? Or can the credit amount be transferred to my bob bucks account?

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qball    10
qball
Hi, can I use the credit in my account to pay for orders on bidorbuy? Or can the credit amount be transferred to my bob bucks account?

 

Unfortunately not at this stage, you will need to request the funds to be paid out. We do not offer a "wallet" type solution at this stage.

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