What does "funds in escrow" mean

I have a customer who paid by credit card but it says “Funds in Escrow”. I did not receive payment through Paypal so when and how do I receive the payment so I can ship the bag. I am clueless what to do.

asked over 9 years ago

3 Answers

Assuming you signed up for the Credit Card Direct Checkout..if not perhaps you will have to contact [email protected]

[URL removed]

Read #4 under the terms

(note you do not get funds until shipping and tracking is provided, or after time limit if just shipping is indicated)

4. Deposits

a. All funds resulting from a completed Payment Transaction will be reflected as a balance in Registered Seller’s Booth Payment Account. Payment Transactions are considered “in escrow” once the payment is approved. Any refunds, adjustments, or other amounts paid to Buyers in connection with purchases are also applied to Registered Seller’s Booth Payment Account balance. Funds in a Booth Payment Account balance are eligible for deposit into Registered Seller’s Bank Checking Account at the end of any applicable deposit delay, reserve, or hold period as defined in Sections 4c and 4d.

Available Balances can only be deposited into bank checking accounts in the United States, in US dollars.

c. We will initiate a deposit of Registered Seller’s Available Balance into Registered Seller’s Bank Checking Account within two (2) to five (5) days after the merchandise associated with the Payment Transaction is scheduled to arrive at the buyer’s address, per the tracking information provided by the Registered Seller. If the Registered Seller does not provide tracking information, but marks the order as shipped, payment will be disbursed to the Seller’s Bank Checking Account 10-30 (ten to thirty) days after purchase, depending on the Registered Seller’s past performance on Bonanza (see 4d). If the buyer leaves positive feedback on the transaction, we will consider the Payment Transactions satisfactory, and distribute funds to the Seller’s Bank Checking Account on the next business day. If the seller does not mark the order as shipped and the buyer does not leave any feedback, Bonanza will disburse to the Seller’s Bank Checking Account 45 (forty five) days after the purchase date. When Registered Seller either initially provides or later changes his or her bank account information, Registered Seller must wait at least five (5) calendar days to request a deposit into Registered Seller’s Bank Checking Account. Deposits into Registered Seller’s Bank Checking Account will generally be credited within three (3) to five (5) Business Days of the date we initiate the transfer.

answered over 9 years ago

ccmom
Reputation: 12648
See ccmom's booth

you just have to wait about 2 weeks before you get your money. they are holding it until the transaction is complete.

answered over 9 years ago

Is it safe to ship then? (when you get the sale)

answered over 8 years ago

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