If you are using any automated payment system, such as PayPal Adaptive Payments or Stripe Connect, then the settings on this page will not be used. These settings only are used when you are using manual payments system.
When you are using a manual system, then the vendors have to send you withdrawal requests and you manually approve them.
Description of the options
- Withdraw Methods: These are the methods for the sellers to choose when they send a withdraw request. That means the sellers can choose their preferred account to get the money from the marketplace.
- Minimum Withdraw Limit: To avoid situations like not delivering the products to the customer or not maintaining their product quality, you can keep the money of the vendors, just like escrow. Like on average the price of the products is $30. So you can set the minimum withdraw limit to $300. By using this feature you can easily resolve disputes and your sellers will maintain their quality.
- Order Status for Withdrawing: This status defines what should be the status of the orders of the sellers to send you a withdraw request. By default, none of the options are selected. You can select any option you like but in our personal opinion selecting “completed” will be safe and fair.
- Withdraw threshold: To make the marketplace more secure for the customers and to stop the sellers from forgery, you can define a time that is required to withdraw their balance. Like a seller can not withdraw the money from the sales which are not more than 3 days old. So in that time, you can hold the money and if a customer complains, you can resolve that easily.