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Ready Pattern Seller Blog

How does a seller receive his payments on Ready Pattern?

by Elettra Francis

May 4, 2020 17:20 label 5 minutes read label Leave a comment

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Payments to the sellers are made directly to their bank account. Ready Pattern does not support Paypal, Stripe, etc. All the bank fees for sending the payment including the currency conversion fee to USD is paid by Ready Pattern.

Sellers can mention their bank account details on this page. This link will work after the seller has logged in.

 

Understand the flow of Orders & Payments ar Ready Pattern

Ready Pattern understands the quick flow of payments and has kept the system of payments extremely smooth. The system is designed to allow for any communication between customer and seller as well as raise requests of concerns. Payments are not immediately made to the sellers. There is flow from My Orders to Ledgers to Wallet to Bank Account.

On average in 15 days the seller receives full payment after the design is successfully sold.

When a design is sold on Ready Pattern, the order details are posted in the section of My Orders. This section can be found in the right dock side of the seller panel. If the order needs to be fulfilled by the seller, the seller must see the design in the pending orders section and submit the design files in the designated time frame as mentioned by the seller for that design when uploading it. Once the design files have been submitted, they are verified by Ready Pattern in a span of about 12 hours and then sent to the customers. If the design files are already previously uploaded then the order will be auto fulfilled as Ready Pattern has already approved the design files.

The order will automatically be posted in My ledgers as well. You will be notified of both these transactions via preferred mode of communication.

When the customers receive the design files, simultaneously, the order gets posted in My Ledgers. This section can be found in the right dock side of the seller panel. My ledgers will have a summary of all the Orders after they are fulfilled. If any item in My Orders is not fulfilled, it will not get posted to My Ledgers. The section of My Ledgers will have all items on the debit side. After every 15 days, summary of all items in My Ledgers gets verified and posted to My Wallet. This is a confirmation that the customer has verified the designs and now the seller is eligible to receive the payment. The customer usually cannot raise claims once the items are posted in the wallet (Or 15 days from order date have passed, whichever is greater). Hence a time frame of 15 days is kept to allow for any discrepancy in the design files. The customers and seller both and resolve issues between themselves, if an error populates.

In the section of My Wallet, every 15 days items are posted from My Ledgers. These items will always be in the debit side. Thus My Wallet will have at the most 2 transactions per month or 24 transactions per year at the most. There is a button in My Wallet called Transfer to Bank. When the seller clicks on Transfer to Bank, the payments get initiated to the bank account as specified by the seller in his settings.

Transfer to Bank has a minimum wallet balance of USD $50 requirement. Below this amount, the button will be disabled. 

Once the payment is initiated, it takes 2 to 3 days to receive the payment directly in the bank account. They are no transfer fees except those charged by your bank to receive USD $ currency from a foreign country. 

Thus to summarize:

  • It takes on average 15 days to receive the payments
  • Payments are made only if the designs are sold
  • Payments are made provided the customer does not raise a special request
  • Payments are always made directly to a bank account
  • Bank account can be in any country

About the author

Elettra Francis

Elettra is the host of the Ready Pattern Seller Central Blog, the design selling platform interface for ambitious surface designers to showcase their prints to global brands. Got something to share with Ready Pattern Seller Masters? You can submit your story for consideration.

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