When a buyer pays you using Trade Me Ping, the process is designed for speed and flexibility for the seller.
For sellers on Trade Me, receiving payment via Ping is straightforward and efficient. If a buyer pays with Ping, their money will instantly appear in your Ping balance. This means you don't have to wait for traditional bank transfers to see the funds credited to your Trade Me account.
Key Aspects of Receiving Ping Payments
Understanding how Ping works for sellers involves knowing about the balance, fees, and options for managing your funds.
- Instant Funds Availability: The primary benefit highlighted is the immediate reflection of the buyer's payment in your designated Ping balance on Trade Me.
- Transaction Fees: It's important to note that receiving payment via Ping incurs a transaction fee. There is a transaction fee of 1.95% (1.65% for Top Sellers). This fee is deducted from the amount received.
- Managing Your Ping Balance: Once the funds are in your Ping balance, you have control over how to use them:
- Use for Trade Me Purchases: You can choose to leave the buyer's money in your Ping balance to pay for items you wish to purchase on Trade Me.
- Transfer to Bank Account: Alternatively, you can initiate a transfer of the funds from your Ping balance directly to your nominated bank account.
| Action | Details | Fee |
|---|---|---|
| Receive Payment | Funds instantly appear in Ping balance | 1.95% (1.65% for Top Sellers) |
| Use Balance | Pay for Trade Me items | No additional fee for usage |
| Transfer to Bank Account | Move funds from Ping balance to bank account | Check Trade Me for transfer fees |
This system provides sellers with quick access to funds and flexibility in managing them, whether for reinvesting in Trade Me purchases or transferring to external accounts, subject to applicable fees.
