On this page, we will explain how the deposit service works for you as a seller.
Table of Contents
- Main goal of the deposit service
- How do deposits work for me as a seller?
Main goal of the deposit service for you as a seller
The main goal of the deposit service is to facilitate the collection and management of deposits for you as a seller, while also keeping buyers safe from fraud.
Our new deposit feature aims to facilitate the process, by having the buyer depositing funds to us at Pets4Homes. We then hold the deposit until you as a seller have finalised the transaction with the buyer, after which the funds will be transferred to you.
How do deposits work for me as a seller?
Step 1: Upload your advert
When uploading an advert on Pets4Homes, you can choose the requested deposit amount as one of the last steps of the advert creation (see picture below). See how to create an advert here. Note that this is only possible for pets for sale (i.e not possible for stud or adoption adverts).
Step 2: Wait for deposits to come in
Once you have published your advert and it has been accepted by our Trust&Safety process, buyers will now be able to place deposits on your advert by clicking on "Place a deposit". Note that you can always choose to reject a pending deposit from a buyer and no funds are sent between buyer and seller at this point.
Pets4Homes will hold the deposit in escrow until you request the deposit to be transferred to you and the buyer accepts your request.
Step 3: Send a transfer request
When you are comfortable that you have found a good home for the pet you are trying to re-home, you can send a transfer request to the buyer. Note that the buyer has to approve this request before any funds are transferred. We recommend buyers and sellers to go through this step once you both feel comfortable and ready. In most cases, this will be when the buyer has had a chance to view the pet in person (or digitally).
When the buyer has accepted your transfer request, the deposit will be transferred to your Pets4Homes wallet instantly, where it will be available for withdrawal.
Note that you as a seller can also at any time cancel a pending transfer request until the buyer has accepted it (in case you want to sell the pet to someone else for example).
Step 4: Requesting a pay-out to your bank account
Any funds that is in your Pets4Homes account can be paid out to your bank account. You first need to provide us with two different pieces of information:
- Your bank details - This is so we know which account the payment should be made to. Please note that we currently only do pay-outs to UK-based bank accounts
- Proof of Identity - This is a legal requirement, where we require a scan / photo of either your driver's license or your passport (not regular ID card).
Once requested, the funds will appear in your bank account within 4 full business days.
If you need further assistance
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