PayOut Policy
ShankMeister’s Seller PayOut Policy is meant to be a balance of speedy payment to the Seller on one hand and an attempt to insure Buyer protection on the other.
When a Buyer purchased your item, ShankMeister obtained an authorization from the Buyer's credit or debit card for the full amount of the transaction that the buyer agreed to pay at the time of purchase. Please review the following steps that occur once the Authorization is secured so as to learn how the Authorized funds move into a PayOut status.
ShankMeister sets out to process the authorization amount as soon as the Seller confirms through the Purchase Notification that he/she still has the item in his/her possession to sell. The Purchase Notification allows for the Buyer and Seller to delineate and/or agree to how the item will physically exchange from the Seller to the Buyer (FedEx, the Seller’s own shipping facility, or an in-person exchange). There are three options for Sellers and Buyers to physically exchange used or new golf items:
1. FedEx shipping: At some point between the seller confirming the Purchase Notification and dropping the item off at the FedEx shipping location, the Seller will have printed out a shipping label under the guidelines of ShankMeister’s Shipping Policy. Each shipping label is assigned a tracking number. ShankMeister will use that tracking number as an indicator of the actual shipping date and actual delivery date. From this delivery date, ShankMeister will determine the Seller’s PayOut date.
2. The Seller’s own shipping facility: Any time a Seller selects their own shipping facility, the shipping costs must be included in the purchase price. When a Buyer selects an item to purchase, the Seller must indicate on the Purchase Notification what shipping facility the Seller plans to ship the item through. If ShankMeister is not given a tracking number so as to track the delivery of the item through the Seller’s own shipping facility, the Seller may face a delay in PayOut.
3. In-Person Exchange. If in the Purchase Notification, the Buyer and Seller agree to meet in person, the purchase transaction will be resolved in person between the Buyer and Seller. ShankMeister PayOut Policy does not relate in-person transactions.
Once the authorization amount is processed, ShankMeister will charge a processing fee of 5% of the purchase transaction amount, plus .30 cents. After ShankMeister’s processing fees have been deducted from the purchase transaction amount and any outstanding fees due the Seller are deducted from a Seller’s PayOut amount (e.g. Shipping), ShankMeister will release the funds to the individual in two ways:
a. Send the Seller a check from ShankMeister.
b. Deposit the PayOut amount into the Seller’s PayPal account.
A Seller’s payout method would have been selected during the listing process as outlined in the Listing Policy. You can change your payout method at any point up to the point ShankMeister processes your payout amount .
FUNDS WILL BE RELEASED TO THE SELLER 48 HOURS ONCE SHANKMEISTER RECIEVES CONFIRMATION THAT THE BUYER RECEIVED THE SHIPPED ITEM AND THERE HAS NOT BEEN A CLAIM FILED UNDER THE BUYER’S PROTECTION PLAN IN THE FIRST 48 HOURS OF THE BUYER RECEIVING THE PURCHASED ITEM.
THANK YOU FOR USING SHANKMESITER
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