If your Payment Account holds a Seller reserve, you might be able to access the full funds from a transaction earlier than 90 days by providing tracking that indicates the order is en route. Finnalby isn't consistently able to validate tracking for certain carriers. If we can't ascertain an order is in transit, the funds will be reserved for the entire 90-day period. Sellers can purchase postage labels directly on Finnalby that may incorporate tracking to prevent an account from being put in reserve due to a no-tracking number issue.
Why does Finnalby have reserves on Payment Accounts?
Reserves are prevalent in online marketplaces and safeguard both the Sellers and Buyers. They can help prevent your Payment Account balance from becoming negative and your card on file being charged if you receive a chargeback from a customer's credit card provider or any other unanticipated refunds or fees. Many Sellers with a reserve may be experiencing an increased volume of sales, so reserved funds can offer a buffer.
In accordance with the Finnalby Fees and Payment Policy, reserves are established on accounts based on various risk factors, such as, but not limited to:
- You are a new seller of 30 days or less and/or
- You experienced a sudden sharp surge in sales and/or
- You experienced a sudden surge in refund request or returns and/or
- You may have recently received a notice of counterfeit, notice of unauthorized reproduction, or a report of alleged intellectual property infringement from a right's owner.
If a reserve is placed on your account, Finnalby will inform you via email. If your Market doesn't experience a Finnalby policy violation during the reserve period, the reserve will be lifted from your Payment Account after 90 days.
What are reserve minimums?
Your reserve minimum is the sum of money that must remain in your Payment Account during a reserve. It's equal to the reserved percentage of the sale amount for all the orders that are currently in reserve.
What charges will my Payment Account reserve cover?
- If you don't have sufficient funds in your Payment Account balance, your Payment Account reserve balance is utilized to cover Buyer refunds, fees, and costs for services such as postage labels and advertising.
- If you issue a refund, your reserve minimum will be adjusted proportionally so that the appropriate percentage of the new order amount is reserved.
- If you still don't have adequate funds in your Payment Account to cover refunds and expenses after the reserved funds are released, your card on file will be charged for the difference.