When a credit card expires for any reason, a Booth gets put on Hold, even if the payment information is immediately updated and the system has the opportunity to resume the automated billing. The Booth Hold can take several days, with significant loss of income for both the Seller and Bonanza.
It has taken up to 5 days for a Top Rated booth to be manually reopened for selling after all fees are paid. It seems it would be easy enough for a Booth Hold to be removed automatically if all Fees are paid. Also, is there a way to pay Fees directly, without having to wait for the automated billing to kick in? Could one specify a backup payment method? That also might be a way to get out of a lengthy and costly halting of business operations.
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SkyMarket Reputation: 10 See SkyMarket's booth |
“… is there a way to pay Fees directly, without having to wait for the automated billing to kick in?”
YES, you can pay your fees ANY time, as long as you owe at least $3. Bonanza specifies that minimum so that the fees (PP or credit card) that they pay don’t eat up most of there payment receipts from your payment.
However, I believe that Bonanza will be moving to a model where payment of the FOV fee is taken out of the sale proceeds when the sale happens. From the September 2020 Bonanza Blog (https://www.bonanza.com/blog/main/Q3_Update) :
“You’ve provided feedback that our current billing schedule can be difficult to work into a budget and may impact seller cash flow. We are working to convert our monthly billing cycle to a point-of-sale arrangement. Our goal is to simplify your Final Value Fees and billing statement and to reduce credit card charges. We’ll soon be collecting FVF upon the sale of goods.”
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tomwayne1 Reputation: 8637 See tomwayne1's booth |
7 Comments
If you’re not currently using automatic bill payment, you may be wondering what all the fuss is about. Here’s a closer look at what automated payments are, how they work and the pros and cons of incorporating them into your financial life.
[URL removed]
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Walltons Reputation: 12 |
I’ve never had that happen either, as I try to stay aware of the expiration dates on my CC’s.
Just a note re seller [URL removed] If you sign into Bonanza frequently, be sure to get your daily REWARD points! They do add up and you can use them as a credit against your fees. So easy to do and so “rewarding”.
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Littleblackdog Reputation: 241 See Littleblackdog's booth |
The best solution for you would be making more money. And if you have no idea on how to start making an additional money income online then I would recommend you to learn more about Forex. There are a lot of sources where you can get all the information, but I think that this [URL removed] will be the best one for you. Good luck.
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LoganCarr Reputation: 18 |
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Asked: about 4 years ago
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