How Do You Get Paid on Vinted?
Vinted's highly popular among online sellers worldwide, and its payment policy is a big part of that popularity. Listing on this app is free of charge, so sellers can keep their earnings in full. But how do you get paid on Vinted? Vinted's payout process is not complicated, but ensure you know all about it before you sell your first item with it.
A seller gets paid on Vinted through the feature called Vinted Wallet. Once buyers make purchases, the funds they've provided will appear in the Pending Balance section of this e-wallet. When the order is completed, funds will be transferred to the Available Balance section. After they become available, they can be used to make purchases on the platform or transferred to the seller's account.
How Do You Get Paid on Vinted After an Order Is Delivered?
Once your buyer makes a purchase, this payment will be visible in your Vinted Wallet in the Pending Balance section - remember that it does not become available right away. As opposed to the rest of your funds on this app, pending money cannot be transferred or used for further purchases.
After shipping is completed, a buyer should check that everything is fine with the order. So, how do you get paid for items sold on Vinted? After the order is successfully completed, the funds from your Pending Balance should move to the Available Balance in two business days.
What Is a Vinted Wallet, and How Does It Work?
Vinted Wallet is a type of e-wallet managed by a foreign bank, Adyen, N.V, or, more precisely, its federally-licensed branch. It provides professional financial services to all users who become their clients through this listing app and help them make money with Vinted.
This e-wallet allows each seller to store their earnings, but it's also a valuable tool that makes selling clothes on the platform safe for all parties involved. When the purchase is made, the transfers of funds the buyer has provided will be delayed until the order is completed successfully.
Delayed funds guarantee that an order will be delivered or that the refund will be secured if something is wrong with the bought item. Once the order is completed, these funds become available to the seller, who can decide what to do with them.
Can You Transfer the Money From This App to Your Bank Account?
After the funds become available, you can use them to pay Vinted fees (for premium features such as Item Bump or Closet Spotlight). However, if you don't plan to use them for buying, you can always opt to transfer the funds to your account.
If you choose the latter, all you have to do is select that option in your e-wallet. The earnings should be available in your account within five work days after the payout occurs. Still, note that funds can be transferred only to bank accounts and that the minimum amount you can withdraw from your available balance is £0.1.
What to Do if a Vinted Payout Fails?
Sometimes, an error can occur with transferring earnings from the app to the accounts. There are different reasons why this happens, and here are some of them:
- There is something wrong with your account - there may be some technical issues that haven't been resolved, in which case you should contact Vinted's support team,
- You may have insufficient funds - you can't transfer more than what you have available in your e-wallet,
- You haven't entered the correct details - in this case, you should contact your bank as soon as possible and provide the necessary information for easier tracking.
Still, note that processing payouts and receiving payments, in general, usually goes without any problems. All you have to do is follow the instructions provided by this platform, and soon the funds from your sales will be at your disposal.
What Happens With Your Money if There's an Issue With an Order
According to Vinted's return policy, buyers have two days to report any existing issue from the day the order is delivered. If it can't be solved, your compensation will depend on the nature of the problem.
If your action hasn't caused the problem, the platform will try to work in your and the buyers' best interest and find a solution suitable for both parties. In that case, you'll either get the item back or be reimbursed. However, if you're the one responsible for the problem (by falsely advertising the items, for example), don't expect the payment to get through.
Can Revenue on This Online Marketplace Platform Be Profitable?
We've explained the payment process in detail, but is listing on that channel worth it? Vinted's knowns as one of the best online selling platforms when it comes to selling used clothes online - but can it be profitable enough? Many factors are involved in determining how much you'll be able to earn by using this marketplace, like the quality and presentation of your items, their number, and the pricing of used clothes. However, note that you can make a lot of money if you use this app the right way.
Therefore, if you want to sell vintage clothing online and choose this multi-vendor marketplace platform, learn a few tricks and tips about how to do it successfully. You can start with the video below:
Listing on Multiple Platforms Can Help Your Business Earn More Over Time
Although Vinted's one of the best online selling tools, if you plan to become a clothing reseller, note that you're more likely to earn more profit and succeed at eCommerce if you choose to sell on multiple platforms. It's the best way to gain more visibility, reach more customers and, essentially, make more money. However, managing your stock between two or more marketplaces can get tricky, so you should consider using crossposting software for the ultimate results.
Let Our Crossposting App Help You Grow Your Online Business
If you've opted to sell your items on this platform and some other online marketplaces, Zipsale, our multichannel listing software, can help you control your inventory from one source, saving you a lot of time and energy. This crossposting tool can also help you avoid common mistakes, such as overselling, and assist you in expanding your eCommerce business much faster. If you're interested in what we have to offer, sign up now, partner with us, and watch your profits grow.