Withdrawals

Pending Wallet Status

When a buyer pays for an item, the payment is initially shown with a 'Pending' status. The funds are temporarily held by our payment service provider for 15–18 days. After this period, the funds will be available for withdrawal.

Available Status

At this moment you can use all funds in “Available” status only for withdrawal to your bank account.

Please note that you have to pass an Know Your Customer (KYC) and Know Your Business (KYB) checks. It’s part of mandatory regulatory requirements applicable to our payment service provider.

Why we use pending balance?

Our payment service provider stores money under “pending” status to temporarily delay it from reaching the seller. This is a common practice in online marketplaces. It helps us make Ovoko safe and secure for both buyers and sellers.

Your funds and private details are confidential and well-protected.

How to withdraw your earnings?

Withdrawals are transfer of money from Ovoko Wallet to your bank account.

It can take up to 5 business days for a withdrawal to arrive in your bank account (i.e. Monday - Friday, not including weekends and public holidays).

Make a withdrawal

It is an automated process of your money transfer in “Available” status from Ovoko Wallet to your bank account every 10 days. If you need to change your bank account details, please contact Account Manager.

Withdrawal history

Go to your SaaS account → Finance Tab to find details about a withdrawal, including:

• The withdrawal amount
• Date & time when the withdrawal started

Money withdrawal issues

Here is how to resolve issues with withdrawals to your bank account.

My withdrawal hasn’t appeared in my bank account

Check you bank statements starting from the withdrawal date up to the current date. The exact amount withdrawn from your balance will match the amount you receive.

If the payment hasn’t arrived after 5 business days:

1. Contact us
2. Let us know when the withdrawal was started
3. Attach screenshots of your bank statement showing all incoming payments from the withdrawal start date until the current date.

My withdrawal failed

Your money doesn’t leave your Ovoko Wallet if your withdrawal fails. There are a few reasons why a withdrawal can fail:

• Your bank account number was blocked by the payment provider.
• You are trying to withdraw your money to a bank account that doesn’t match your Ovoko wallet details.