Pre-Start Feature For Sellers & How It Works

PRE-START FEATURE FOR SELLERS & HOW IT WORKS

Selling on Peerwallet is quite straightforward; you connect via the API, Plugin or you sell via payment links. Some payment methods require you to have a minimum of $500 security deposit before you can use them, most of them are PayPal and some card gateways like Stripe e.t.c

The Pre-Start feature makes it possible for sellers to begin without initially placing some security deposit (lock balance) to the account, this makes it possible for the seller to begin without having to first load funds into the account.

The Pre-Start feature comes with some requirements and fees.

1) Verified Account: First, your account must be verified before you can enable this feature

2) Verified Domain: You must have at least 1 verified domain to be able to do this, and sales must come from verified domains only not manually creating payment links

3) Funds Availability: You cannot withdraw nor can you spend the funds you receive until it gets to the amount specified when setting this up. For example, if you specified that you want a value of $500, this means that all funds you receive in your account must amount to $500 and then be locked for 3 Months before other payments would be available to you for withdrawal

4) 10% Fee: If you want to set up this feature, this will attract a 10% fee. For example, if your expected value is $500, this means you would pay 10% of $500 which is $50.

So, in reality, this is what would happen; you would first need to earn $550, then $500 would be locked as a security deposit for 3 Months, this fund is available to you after the release date, then $50 is burnt as fees.

The value you plan to lock using this feature should be 20% of your total 7 days of sales, Learn more from here; https://peerwallet.com/doc/read?t=learn-more-about-reputation-amp-holds

Lastly, if you do not want to incur an additional fee, you can decide to top up your account and Lock your funds directly, but if you currently don't want to load cash to your account then you can decide to use the funds from the sales you make using this feature called Pre-Start!