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Sellers Credit – Virtual Payment Gateway on iMarkets
The Sellers Credit system allows buyers to make purchases on iMarkets using their account balance. Buyers can fund their accounts directly from their Buyer Control Panel via PayPal or bank deposit.
This system functions like a standard payment gateway. Buyers have the option to:
Pay using their Website Credit, or
Use a traditional payment gateway (e.g., PayPal, card).
Alternatively, Sellers Credit can be set to automatic mode, where funds are transferred directly from the buyer’s account to the seller’s account upon a successful transaction.
Buyer Protection: Covered by iMarkets' protection policy — if the item isn’t received, the purchase amount is returned to the buyer's account.
Minimum Deposit for Buyers: AUD $15.00 (via PayPal or bank deposit).
Minimum Withdrawal for Sellers: AUD $50.00, which can be withdrawn to the seller's registered bank account or PayPal (on request).
Withdrawal Fees: iMarkets does not charge fees for withdrawals; however, any receiving-end fees (e.g., PayPal fees or bank charges) are the seller's responsibility.
Fee Adjustment: Outstanding marketplace fees will be automatically deducted from the seller's account balance.
Non-Refundable Credits: Buyer credits are not redeemable for cash and can only be used within the iMarkets platform for purchasing goods and services.