Keep a Balance and Minimize Payout Fees

Mar 30, 2014 Posted by BoxCycle on Mar 30, 2014 in Site Updates | Comments Off on Keep a Balance and Minimize Payout Fees

Keep a Balance and Minimize Payout Fees

BoxCycle sellers receive automatic payouts after their account balance exceeds a threshold (currently $25). Sellers can request smaller payouts at any time with a small fee.

Today’s release adds a Keep Minimum Payout Balance option. If you select it, automated payouts will leave a balance of $25 in your account instead of paying the entire amount. This means that an automated payment will not occur until you are owed at least $50 and that $25 will remain after payment. For example, when you are owed $60, $35 will be paid automatically and $25 will remain in your account.

Why Should I Enable This?

If you don’t receive boxes continuously, this option helps to avoid having to pay a fee to receive your final payment since it’s likely to be under $25. With at least $25 in your account you can a request a manual payout without incurring fees.

This feature is also helpful if you offer Cash on Pickup since we can collect our fees from the balance instead of asking you to submit a PayPal or Credit Card payment when you confirm the order.