Payout Requests

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:

  1. Log into my account, click on the selling tab and find request a payout under the seller account section.
  2. Complete the required information and submit the form. Payouts are processed every business day.
  3. 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 bobbucks voucher. We also won’t require any verification checks making this a quick and easy process.

 

Steps to request a payout:
  1. Log into my account, click on the buying tab and find request a payout under the buyer account section.
  2. Here you can select from two options. Payout the refund to your bank account or convert it to a bobBucks voucher. 
  3. Complete the required information and submit the form. Payouts are processed every business day.
  4. 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

    • bobPay Fees

      Currently bobPay EFT is free. There are no monthly, subscription or set up fees to offer bobPay EFT to use it. It is also free for buyers to use. What is bobPay? Bob Shop offers to sellers a built-in payment solution which adds convenience, speed and ...

    • How to request a bobPay EFT refund

      Bob Shop may under certain circumstances issue refunds for bobPay EFT payments made on purchases (in most cases when a seller has been blacklisted and Bob Shop still holds your funds). In order to request a refund the following procedure must be ...

    • Why Bob Shop requires copies of identity documents and utility bills

      We require certain details and personally identifiable information from you for several reasons - order fulfillment, transactional records, billing and security and safety. We may request this detail from you when you register, want to sell or when ...

    • Why Bob Shop requires copies of identity documents and utility bills

      We require certain details and personally identifiable information from you for several reasons - order fulfillment, transactional records, billing and security and safety. We may request this detail from you when you register, want to sell or when ...

    • What is Secure Citizen?

      Secure Citizen uses biometrics to verify your Bob Shop account. Secure Citizen is a specialist identity theft prevention company that works with the SAFPS, South Africa’s leading fraud prevention organisation, to check that people are who they say ...