What is a reserve, and will I have one?
A reserve is money held back against future disputes. Most accounts do not have one. It can be required where the transaction, refund or dispute pattern warrants it, and it can be held for up to 180 days after your payment access ends.
From the guide What You Take On When You Get Paid Through Seayora.
Reserves, holds and set-off
The processor can hold back a reserve against future disputes, and can raise it if your risk profile changes. Anything you owe can be recovered from your next payout, from that reserve, or by debiting the bank account you have on file. If your balance goes negative — usually after a chargeback or a return — it is due immediately. Keep a working bank account on file, and tell us at least ten days before you change it.
Read the whole guide: What You Take On When You Get Paid Through Seayora
More questions about What You Take On When You Get Paid Through Seayora
- Does Seayora hold my rent money?
- A tenant charged back their rent. Who pays?
- The bank returned a rent payment a week after it looked paid. Why?
- Does a refund go out straight away?
- Why am I agreeing to another company’s terms as well as Seayora’s?
- Can Seayora stop the processor from closing my account?
- Will I be charged a fee I have never been told about?
- Why can I not pay myself out right now?
- Why does Seayora make me wait a day for my own money?
- I signed the agreement. Where is my copy?