Yaga wallet is your virtual wallet that allows paying for purchases with the money earned on Yaga.
Over 40% of Yaga users are both Sellers and Buyers, which means that people owning a Yaga shop also make purchases from other Yaga Sellers. This is why we provide the chance to keep the earned money in circulation and use it for purchases on the platform.
How Yaga Wallet works?
An item gets sold from your Yaga store
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A prepayment for the sale comes in to your Yaga account
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When the order is completed, you will have available balance in that amount to shop with
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Alternatively, you can choose to have the money paid out to your personal bank account with just a click of a button
You can initiate a payout to a personal bank account at any time.
You can use your Yaga wallet balance to pay for purchases from other Yaga stores.
The My Wallet view
Total Balance = The sum of completed orders + prepayment(s) for order(s) that are still in transit.
Pre-paid orders = Prepayment(s) for order(s) that are in transit. This amount cannot yet be used for purchases / payouts as they are still on their way to the Buyer.
Completed orders = The total available balance of your Yaga wallet that can be used for making purchases or payouts to bank account.
Important to know
Payouts to bank account
All payouts to bank accounts must be initiated with a click (My wallet -> Payout to bank account). Please note that making partial payouts is not possible.
Making purchases
To pay for your purchases with the money earned, the balance of your Yaga wallet must be greater than the purchase amount together with the delivery cost. Partial payment with your Yaga wallet balance is not possible.
Cancellations
In case one of your orders gets cancelled by the Seller, a refund will be transferred to your Yaga wallet. From there on you can choose between using it for future purchases on Yaga or paying it out to your bank account.
Do not hesitate to contact us at support@shopyaga.in for any additional questions on the new Yaga wallet system! :)