Fees & Payments Policy
This Policy explains your payable fees and taxes.
Paying Your TerraShops Fees
Types of Fees
There are three basic selling fees:
TerraShops may require sellers to pay certain types of fees. Please note that all fees are listed exclusive of any value-added tax (VAT) that may be applicable.
When you sell a product/item through TerraShops, the following fees will apply:
1. Transaction Fee (Free until September 15, 2020)
There is a 5% transaction fee on the sale price (including the shipping price you set)
2. Listing Fee (Free until 2021)
Listing fees are billed periodically for $0.25 USD on each product that is listed on TerraShops.
3. Payment Processing Fees
All our supported payment methods are powered by third-party providers in order to process your transactions securely. Depending on the buyer’s country/region, payment processing fees can vary. You will receive the amount remaining to your Business PayPal account.
Fees for third-party providers and our services will be described once they are determined.
Please note that these third-party providers might charge extra fees. Additional fees required for international cards and currency conversion. Also, they may enforce rules about the type of products you can sell when making use of their service.
If you want more information about transaction fees kindly visit PayPal.
Fees for Receiving your Earnings via PayPal
All earnings will be deposited into your Business PayPal Account.
PayPal Payouts Fees
Local (USA) 0.25 cents per payout per Seller/transaction
International 2% of the transaction value up to about $20.00 Cap on the Fee
The sender (TerraShops) pays payout fees at transaction time. Fees vary by sending country, are calculated as a percentage of each transaction, and are capped. Typically, the variable component is 2% and the domestic payments cap differs from the international payments cap. For detailed information about payout fees, see the PayPal Merchant Fees and How are fees for Payouts calculated and reported?.
Fees for third-party providers and our services will be described once they are fully determined.
Paying your fees
TerraShops requires all sellers to provide a credit or debit card for the purposes of paying all fees associated with using TerraShops services and all applicable taxes. If a seller owes more than $5.00 USD in fees at the beginning of the month, they are emailed an invoice detailing the amount due. Payment for the amount due must be made in full within 15 days of the date on the invoice.
If you fail to pay, the account will be considered past due and we will have to take any necessary actions to collect the funds.
If you make a sale while you still have an outstanding balance, the net sale amount will be applied to your outstanding balance. You have the option to pay your outstanding balance manually by Credit card, Debit card, or PayPal.
We may suspend your selling privileges pending the settlement of your outstanding balance. Should TerraShops determine that a product is not as described, the seller will be required to refund the order – this includes original shipping and return shipping.
At TerraShops, we prohibit any seller from avoiding payment of any of the TerraShops fees. An example of this includes asking buyers to purchase a product through a different avenue in order to avoid certain fees. The prices present in a listing must be an accurate representation of the sale. As a seller, you are prohibited from altering a product’s price after a sale has been made in order to avoid any of the TerraShops transaction fees, or misrepresent the location of the product, or use another user’s account without their express consent.