Withdrawing Sales Proceeds
As customer bookings are processed through Black Passport Stamps, vendors will accrue funds that are owed to them (i.e., ‘sales proceeds’). Vendors have the ability to withdraw these funds, minus the referral fee and taxes, at a minimum of 7 days after the booking has been created. Once a request for withdrawal is created, it will take up to 7 days, after approval, for the funds to be transferred to the vendor’s account. Below, we discuss how to withdraw sales proceeds.
Black Passport Stamps requires a reserve period and a withdraw threshold to manage financial liability created from transaction disputes from your customers, including chargebacks.
Note: You can only create withdraw requests for orders that have a ‘Completed’ status. If a customer chooses to pay for a trip in full, there will only be one order for that payment. If a customer chooses the deposit + payment plan option, the plan is split into several scheduled invoices, each with their own order number and varying order status. Other order statuses that you might see are:
- Awaiting payment (a past invoice in a payment plan has not been paid)
- Scheduled (future invoice in a payment plan)
Step 1: Vendors, upon receiving a booking, gets the listing in the ‘Orders’ tab, and from here they can check which order still has an ‘unpaid’ status. ‘Unpaid’ simply means that the referral fee (Admin fee and / or taxes) owed to Black Passport Stamps from the sale has yet to be paid. This admin fee will be updated to ‘paid’ status after a successful withdrawal of earnings (sales proceeds) from that specific order.
Step 2: Vendors will have to manually claim withdrawals by clicking on the “Withdrawal” button from the Payments section here: Store Manager >> Payments
Step 3: Upon clicking the withdrawal button, the vendor can submit a request to avail their earnings by selecting their order(s) and clicking the request button.
Once the request has been submitted, the admin gets the notification of the request and will be able to process the payments. Processing can take up to 14 business days.