Note For Vendors/Sellers

working hard to grow together

Withdrawal FAQs

Most frequent questions and answers

MyMakBuddy use established and approved payment gateways to process transactions on the platform.

 

The company is a startup and the capital of the company lesser than Rs 150 million, company is not eligible to have its own payment gateway.

 

We also give a buffer period to the customers to claim any refund, return or exchange request.

 

Settlements on the platform by the payments gateways used (PhonePe, Razorpay, Paytm & Cashfree) take one day for settlement into the company’s bank account.

 

Considering the above reasonable points, sales accrued after an order is marked complete by a Vendor/Seller will only be reflected after 3 days after the order is marked complete.

 

The same amount can be withdrawn immediately after it gets reflected in the withdrawable balance.

Amount will get reflected for withdrawal after 3 days after an order is marked complete and can be withdrawn immediately once reflected.

 

Learn how to withdraw on MyMakBuddy ↗️

Instant payout is not available to address any issue or claim raised by the customer after the order is marked completed the Vendor/Seller.

  1. At least 2 directors.
  2. Capital. The net worth must be at least Rs 150 million. Moreover, this amount should be increased in 3 years to 250 million rupees.
  3. The physical address of the business.
  4. Provide a business plan for the next 5 years.
  5. Business bank account.
  6. Compliance with RBI requirements.
  7. Report from the software certification agency.
  8. Taxpayer registration number.
  9. PCI DSS Compliance.

 

MyMakBuddy plan to have its own payment gateway in the future once the requirement of the Capital cap is met.

It is the minimum amount that can be applied for withdrawal from MyMakBuddy at any point of time.

 

Currently, the withdrawal threshold is Rs 2000/-

Yes, you can. We have your back. We stand with you.

 

You can always apply for withdrawal in case of a financial emergency. You can apply for withdrawal in such cases by creating a ticket on the Support Page.

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