PAYOUT RATE
SwapUp decides every item's selling price at its sole discretion. When determining listing pricing, our merchandisers take many factors into consideration: estimated retail price, seasonality, condition, quality, style, and the level of inventory we already have in that size or brand. SwapUp listing prices are based on the price of the item when new and the fair market value of that item in resale.
Your payout is a percentage of the selling price on SwapUp. The rates are indicated in the following table and are subject to change. The tiers indicate the respective percentages of selling price you will be paid for each individual item sold. Kindly note that GST is deducted before calculating your payout.
| Selling price | Earnings percentage |
| below $30.00 | 15% |
| $30.00 - $49.99 | 25% |
| $50.00 - $99.99 | 35% |
| $100.00 - $199.99 | 50% |
| above $200.00 | 60% |
We reserve the right to adjust an item's selling price to increase the chance of an item being sold within the consignment period. If the consignment item does not sell within 120 days, you will have an additional 14 days to reclaim your item. If you do not reclaim your item within the 14 days, the item becomes the property of SwapUp. SwapUp may choose to remove the product from its website and relist it at a later date, donate it to a charity of our choice or, once other alternatives are exhausted, send it to landfills.
PAYOUT TIMELINE
Your earnings will appear on the Dashboard approximately 14 days after your consignment item is sold. You can use the earnings to shop from SwapUp at any time. You can request to cash out or donate your earnings at any time, but we will process your cash out requests every Monday.
Here is a detailed explanation on the payout / donation request submitted through your account on swapup.com.au (SwapUp).
- Minimum amount for every cashout request is $10. No minimum amount to use your balance for shopping.
- Transfer payments (Payout), either to your nominated bank account or the charity of your choice, will be made every Monday for transactions requested in the Current Payout Period
- The Current Payout Period refers to 00:00 on the day following the Previous Payout Period up to 23:59 on Friday preceding the Monday on which transfers payments will be made
- For example, if a payout request is submitted on Friday 8th August at 11:59pm, then SwapUp will process the payment transfer on Monday 11th August (case A)
- Separately, if a a payout request is submitted on Saturday 9th August at 00:00am, then SwapUp will process the payment transfer on Monday 18th August (case B)
- Payment generally takes 24 hours (1 business day) to arrive, so you or the nominated charity should receive the Payout by Tuesday
- In the case A above, the payment is expected to have gone through by Tuesday 12th August (except for first-time payments)
- Whereas in the case B above, it would be Tuesday 19th August (see exception cases below)
- The Payout should show up on your bank account as from “Swapup * AU _your payment details_”
- If you have not received the Payment by the start of business day on Wednesday, please kindly contact us at hello@swapup.com.au and we will be help you investigate
- Kindly note that for first-time payment, transactions may take up to 96 hours to clear. If this is the first time you are requesting a Payout, please allow up to one week for the Payout to be reflected in your bank account. Once the first-time payout has gone through successfully, any following payout requests thereafter will take 24 hours or less. Thank you for your understanding that we are unable to expedite the process, as this is simply the bank’s way of making sure that your funds are protected
- Unused balance will be automatically converted into gift cards after 360 days of inactivity (no transactions, including cashout requests, on SwapUp)
ADDITIONAL CHARGES
- SwapUp Kits that surpass the limit of weight limit (10 kg) or dimension limit (the sum of width + length + depth is over 120 cm) incur a $30 fee
- If you wish to retrieve your unsold items once the consignment period has lapsed, a handling fee of $5 per retrieved item plus variable shipping cost (including 1% insurance cover) apply
CHANGES TO POLICY
SwapUp has the exclusive rights to adjust pricing and consignment rate. In the case of consignment rate changes, consignors will be notified via email.
LIABILITIES
SwapUp will not be liable for any damages or loss of your items, regardless who causes the loss or damage. Unless otherwise specified, you guarantee authenticity of consigned goods and indemnifies SwapUp of any damages, fees, and costs that may occur, including return of buyer’s purchase price, as a result thereof. Additionally, you warrant legal ownership of all items free of any liens and encumbrances.
If you have any questions or feedback, we are always here to help.
