Understanding the Payment Process for Self-Collection Sales

Selling your used bike on buycycle is a secure and straightforward process, even when the buyer chooses to pick up the bike in person. This article will guide you through the payment process for self-collection sales and what you can expect at each step.

How Does Payment Work for Self-Collection?

The payment process for self-collection or test ride sales is designed to offer both the buyer and seller maximum security. Here's how it works:

1. Payment Reservation or Capture: When a buyer decides to purchase your bike for self-collection or books it for a test ride, we either reserve the payment amount on the buyer's chosen method of payment or capture it. This ensures the funds are available and set aside for the transaction.
2. Bike Handover: Once the buyer picks up the bike and is satisfied with it, both parties confirm the handover to us. It's essential for this step to happen to initiate the payment collection.
3. Payment Collection and Payout: Following the confirmation of the handover, we collect the payment from the buyer. This amount is then credited to your buycycle account balance and can be requested for payout.
4. Payment Transfer: Once you request a payout, the transfer of funds usually takes another 1-2 business days, depending on your bank's processing times.

By managing the payment process, we ensure secure transactions and peace of mind for both buyers and sellers. If you have any further questions about the payment process for self-collection sales or other aspects of selling on buycycle, please contact us at [e-mail]. We're here to assist you!