Pre-Start Feature For Sellers & How It Works

 

 

Selling on Peerwallet is simple: you can connect via API, Plugin, or sell through payment links. For some payment methods, a minimum security deposit of $500 is required before your customers can load their accounts, especially for reversible payment methods like card gateways.

 

 

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. 

 

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

 

 

b) 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

 

 

 

 

 

 

 

The Pre-start option has 2 options – The pre-start and the pre-start 180

 

 

1)    THE PRE-START

 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

 

 

 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

 

 

 

 

 

 

2)    THE PRE-START-180

With this option, you don't need an initial deposit—simply activate it to begin. For each sale, 10% of the value will be held for 180 days and released afterward. You can withdraw the remaining funds 14 days after the sale. For instance, if you receive $100 after fees, $10 (10%) will be held for 180 days, and the remaining $90 will be available in 14 days. After 180 days, the held $10 will be paid to you. This process applies to all transactions.

 

 

 

To navigate to the Pre-Start option, go to here

 

To navigate to the Pre-Start 180 option, go to here