You can lock some amount of funds on Peerwallet for several reasons; the most popular reasons are for trust and better account reputation. 

Also as a Merchant, when you place some amount bids, first they are credited via the Lock balance which is later released to the main balance after the end date, automatically. 

Here are some reasons why sellers should consider locking some value in their accounts;





Seller's Trust: From time to time we encourage Merchants who offer reversible payment options to consider offering their funding services to sellers they trust or to sellers who have some active locks in their accounts. Because sometimes, the sale might not go as planned, and if the customer Is not satisfied with the order, they might want to file a chargeback which would affect the Merchant who has received the funds on behalf of the seller; So, if there is some amount locked for the seller then this is easily rectified via a deduction from the amount locked.



So as a seller, if you have some values locked (recommended 6 -12 months) your customers would see more payment options because Merchants would trust you and would be willing to receive payment from your customers.

To be able to see some payment options like PayPal or some card gateways like Stripe and so on for your Peerwallet checkout, most of these Merchants would require a minimum lock of $500 for 90 days. If you do not lock it, people paying from your checkout would not be able to pay







 Faster Payouts: When you have some security deposit in your account, the system would make available your funds for payout faster when you receive payment. If payment was received from another Peerwallet user via the Wallet transfer, this is available immediately. But when you sell from the checkout gateway, funds are available and released to your account based on several factors like your security deposit value, your account reputation, and your verification level.


In summary; most times, with some security deposit, you should get funds within 24 -48 hours, sometimes faster when you have a good account reputation, then instant when your account has the highest reputation required. 

Sometimes, if your account reputation is low, with no security deposit, it might take up to 7 days to qualify for withdrawal.



Merchant's Trust: Before some Merchants can offer some services, they would need to lock some funds in their wallets. This is required because in case the service offered dispenses an error and the user is charged, Peerwallet can easily refund the customer from the locked funds


Virtual card issue for example when writing this requires a minimum lock balance of $3,000 which MUST be locked for a minimum of 1 Month. When the lock expires, the offer for the virtual card would stop working until it's relocked. 



Quick Terms: Funds locked would be automatically relocked when your due date is less than 30 days if you are an active seller, it won't be relocked if you had no sales in the last 2 Months. 

The security deposit is only available for withdrawal if you stop selling on Peerwallet, and the duration calculated is 2 Months before your due date. 


Summary: Balance or Funds lock on Peerwallet is an initiative to increase several account trusts and improve the general experience on the Peerwallet Marketplace. As a Seller or a Merchant, you should consider locking some values today!