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Account Payment Eligibility:

An account is eligible to receive payments if any the following required online payment methods are setup and details set to SCS Bank:

  • Paypal online account.
  • Stripe online account.
  • Braintree online account (optional).

If the merchant does not have the required online payment methods setup and details set to SCS Bank, payments will be withheld until we receive payment method preferred by the merchant. Once these required online payment methods are set up, the merchant will receive payment on their next scheduled payment date.

Disbursements:

SCS Bank generally will disburse payments to merchants for their eligible transactions twice per month. This disbursal schedule may change, at SCS Bank’s reasonable discretion, if (a) the merchant is not in compliance with the website Terms and conditions or these Fees and Payment policies, (b) the merchant changes its payment provider during a payment cycle, (c) the merchant is involved in a third-party claim, legal proceeding, or governmental inquiry related to the merchant’s use of our marketplace platform, (d) SCS Bank reasonably suspects that the merchant account has security vulnerabilities, has been hacked, or otherwise has been compromised, or (e) SCS Bank has communicated a different disbursal schedule to the merchant. Upon making a payment disbursal to the merchant, it may take 5 - 7 business days for the funds to arrive in your merchant or your provider’s account.

Merchants' account balances available for disbursal are estimates based, in part, on certain information made available to SCS Bank. SCS Bank cannot guarantee that the disbursal amount made to the merchant will be identical to the amount visible to the merchant displayed as its account balance within its account, and SCS Bank shall not be liable for any discrepancy between these two amounts.

Fees:

Depending on the terms noted within the merchant’s SCS Bank account or the terms of any other agreement the merchant may have with SCS Bank, SCS Bank will either take a percentage (% Commission) or a set amount of the list price provided to SCS Bank by the merchant when an item is sold.

Should the merchant use additional services or product features related to the sales of items through or in connection with SCS Bank’s services (e.g., Google Adverts, Facebook Adverts, Cargo Shipping, Selling on other Marketplace platforms, Fulfilment by SCS Bank, etc.), these services or product features may be subject to certain additional or different fees as communicated by SCS Bank. In the event SCS Bank introduces a new service or product feature related to the sales of items through or in connection with SCS Bank’s services, the fees for that service or product feature will be effective upon the launch of the service or product feature. Unless otherwise stated, all fees are quoted in US Dollars (USD).

In certain situations, including but not limited to a void or invalid transaction, SCS Bank may issue a debit to a merchant’s billing statement for the applicable fees.

Except as set forth in the website Terms conditions or the Tax Policy, you are responsible for paying all fees and applicable taxes associated with using and selling on SCS Bank.

Order Payment Eligibility:

Your shipped transactions will be eligible for payment as set out below or as otherwise communicated to you by SCS Bank. Without limiting any other remedies, SCS Bank may unilaterally decide to delay the remittance and withhold any amount payable to you until receiving the confirmation of delivery. Transactions that cannot be confirmed as shipped either by your tracking data or through our internal systems may be ineligible for payment. SCS Bank will pay you for your eligible transactions twice per month.

An order is eligible for payment as soon as the tracking carrier confirms the order as delivered or 5 days after the customer confirms delivery.

If the order is not confirmed delivered, then it will be eligible for payment 60 days after the order was marked shipped by the merchant.

If an order is shipped without a tracking number, the merchant must provide a copy of shipping receipt to SCS Bank either by email, in any of the following format, photocopy, image or pdf within 15 days from the date of shipping. The order will be eligible for payment 60 days after the order was confirmed delivered by the customer.

An order is confirmed shipped when the package receives its first tracking scan.

An order is confirmed delivered when either the tracking carrier confirms delivery or the customer confirms delivery.

Payment Amounts:

Depending on the terms noted within the merchant’s SCS Bank account or the terms of any other agreement the merchant may have with SCS Bank, when an item sells, SCS Bank will pay the merchant a set amount of the listed product price plus the listed shipping price (combined) as provided to SCS Bank by the merchant minus % commission based on the merchant’s subscription plan the merchant has with SCS Bank. This information is available to the merchant in the merchant’s dashboard under “Merchants Control” feature. Payments will be a net amount reflecting the merchant’s prices (listed product price and listed shipping price) less any Charges and commissions.

Payments:

Provided the merchant is in compliance with the website Terms and conditions and other SCS Bank policies, and excluding any amounts due to refunds to customers, fees applied to merchant accounts, penalties issued against the merchant, discretionary advances or advances made through payment processors, or other charges or amounts that SCS Bank is entitled to offset against the merchant (collectively, the “Charges”), the merchant shall be paid the amounts noted below.

 

 

 

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