Payout Requests
Payout requests for sellers
In order to withdraw funds paid via bobPay EFT from your Bob Shop account, you need to make a payout request in your my account. You have one free payout in a calendar month, regardless of the amount requested. Thereafter, a bobPay transfer fee of R5.00 excluding VAT is charged for any payout amount under R3,000. For amounts over R3,000 no bobPay transfer fee will be charged.
If you have used your one free payout and request another payout below R3,000, the bobPay transfer fee of R5.00 excluding VAT will be charged. If a bobPay transfer fee is applicable, the system will not process your payout request if you have R5.75 or less in your Bob Shop account. A user can not request less than R5.75 as a payout.
Steps to request a payout:
- Log into my account, click on the selling tab and find request a payout under the seller account section.
- Complete the required information and submit the form. Payouts are processed every business day.
- Payout requests received before 9 a.m. on a business day are processed the same day and in most cases reflect in the recipient’s bank account by the next day. Requests received after 9 a.m. are processed the following business day. Payouts are not processed over weekends or public holidays.
Bob Shop may request ID and address verification documents before crediting your bank account. This is to ensure the security and safety of all our users. Bob Shop also performs additional checks, such as checking for proof of collection or delivery before releasing funds to sellers. Bob Shop typically makes funds available two days after an order is collected by a courier but this may differ on a case-by-case basis. Orders which are not fulfilled through Bob Shop or are collected directly by a buyer may attract a longer pending status.
See the bobPay User agreement terms and conditions for using bobPay-EFT.
Payout requests for buyers
Buyers can also request a payout when they receive a refund from a seller. You can choose to payout to your bank account or convert it to a Bob Bucks voucher. We also won’t require any verification checks making this a quick and easy process.
Steps to request a payout:
- Log into my account, click on the buying tab and find request a payout under the buyer account section.
- Here you can select from two options. Payout the refund to your bank account or convert it to a Bob Bucks voucher.
- Complete the required information and submit the form. Payouts are processed every business day.
- Payout requests received before 9 a.m. on a business day are processed the same day and in most cases reflect in the recipient’s bank account by the next day. Requests received after 9 a.m. are processed the following business day. Payouts are not processed over weekends or public holidays.
Did you know? If you are both a buyer and a seller on the Bob Shop platform, you will need to create two separate payout requests. Payout transactions are separate for buyers versus sellers. Related Articles
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