Search Results for "E Money"

• What is Auction.ph's Escrow System?

  The Escrow System is unique to Auction.ph. Escrow is the process after a successful bidding or buying, which is an essential service for the security of transactions between buyer and seller to facilitate payment and receipt of purchase money. It is provided for the purpose of protection of every member, and for trust and safety of mutual members’ transactions, so Auction.ph cannot be a proxy or any buyers or sellers throughout this service.

  See also: Escrow Agreement.

   

  Is this information useful?   

• What if I did not receive the item/s I bought?

  If you have not received the purchased item, you should send a message of non-receipt to Auction.ph through e-mail after 20 days from the date of sending the seller indicated in the website. In such case, the Company shall immediately send an e-mail notification of non-receipt to the seller. If seller cannot present any evidence of delivery within seven (7) days after notification, the Company shall refund your purchase money.

  See also: Item Not Received Policy.

   

  Is this information useful?   

• Paying For Your Item

  After reviewing the payment methods of the seller, the buyer should remit purchase money within seven (7) days after successful bidding according to the process of the escrow service. For your convenience, we offer you the following payment options:

  1. Megalink Online ATM/Debit card transfer - You can transfer funds to Auction.ph online from your Megalink-member bank accounts. Below are the member banks:
  1. Asia Trust Bank
  2. Bank of Commerce
  3. Development Bank of the Philippines
  4. Insular Savings Bank
  5. International Exchange Bank
  6. Keppel Monte Bank
  7. Maybank
  8. Union Bank
  2. Bancnet Online ATM/Debit card transfer - You can transfer funds to Auction.ph online from your Bancnet-member bank accounts. Below are the member banks:
  1. Allied Bank
  2. China Banking Corporation
  3. China Trust Bank
  4. Citystate Savings Bank
  5. Metrobank
     
  6. PB Com
  7. Philtrust Bank
  8. RCBC
  9. RCBC Savings Bank
  10. Standard Chartered Bank

  No more queuing in banks, all you need to do is indicate your account and pin number to pay for your purchases. Bancnet Online or Megalink's The PORT shall process the transactions for you.
  Members shall shoulder all the bank charges relative to their transaction. A minimum of Php 8.00 and Php 20.00 per transaction will be charged for Bancnet and Megalink cardholders, respectively.

  
  For sellers, the bank charges will depend on the mode of remittance indicated during item registration.

  3. Bills Payment – You can also choose this payment method in paying your bills in Auction.ph. There are two collection channels available foryou – Over-the-counter (OTC) and the Automated Teller Machine (ATM).

     For Over-the-Counter transactions, here's how:

     1. Go to any RCBC branch and fill-out three (3) copies of ‘Bills Collection Slip’ completely.
        1. Under ‘Biller/Company Name’, put Auction.ph.
        2. Under ‘Subscriber/Policy/Card Number’, put the reference number of the item you are paying for.
        3. Under ‘Subscriber/Policy Holder/Cardholder Name’, put the name you registered with Auction.ph.
        4. Under ‘Total Payment’, put the same amount as reflected from your Statement of Account.
     2. Attach the Statement of Account you printed from Auction.ph website.
     3. Queue and pay to the bank’s teller. Wait for slip to be validated.
     4. Claim the validated slip and keep for reference.
  4. E-money – You can load your 'virtual account' by buying E-money. E-money can be bought using the above-mentioned online banking facilities.
  5. Globe GCash - If you are a Globe Telecom or TM (Post-paid or Pre-paid) subscriber, you may pay for items using Globe GCash. To use GCash, select GCash as the payment option. Make sure that make sure that your mobile number is registered to use GCash and has enough funds to pay for the item. To know more, please refer to our GCash FAQ. Globe Telecom charges a flat-rate of P25.00 per transaction. 
  6. Credit Card - Make a one-time payment with your credit card (this payment facility will be made available soon).

   

  Is this information useful?   

• Delivery of Items

  The seller shall make arrangements for the delivery as soon as Auction.ph notifies him of the confirmation of receipt or payment of purchase money and he shall post details of delivery in the service menu screen provided. The Company will also notify the buyer immediately regarding the delivery details either through his e-mail or in the service site. The item/s will then be delivered by the selected logistics company of your seller. Please allow 2-7days for delivery, depending on the location of the seller and the winning buyer. Reviewing the seller’s delivery method and details is important to know how long will your item be shipped to you. To guide you for your item packaging and shipment, see Packaging Guides.

  If you have not received the purchased item, you should send a message of non-receipt to Auction.ph through e-mail, phone, fax, etc. after 20 days from the date of sending the seller indicated in the website. In such case, the Company shall immediately send an e-mail notification of non-receipt to the seller. If seller cannot present any evidence of delivery within seven (7) days after notification, the Company shall refund your purchase money.

  See also: Item Not Received Policy.

   

  Is this information useful?   

• What is Auction.ph’s ESCROW SYSTEM?

  Auction.ph offers its members with an ESCROW SYSTEM, which serves as an intermediary and support for transactions between buyers and sellers upon closing of an auction or any type of buying and selling method.

  Its main objective is to increase the level of safety and convenience of transactions among members.

  How It Works:

  1. Buyer and Seller agree to use Auction.ph’s Escrow Service
     To avail of Auction.ph’s Escrow Service, one has to be a registered member. Upon registration, prospective members will be asked to conform to the Escrow Agreement , whereby the terms of the Escrow Service are stipulated. Once registered members (buyer and seller) conclude a successful transaction, they may already avail of Auction.ph’s Escrow Service.
  2. Buyer pays Auction.ph
     After a successful transaction (either auction, shopping, cooperative buying or bargains), buyer is requested to pay the full amount of the item/s to Auction.ph. The buyer may choose any of the following payment methods:
     • Internet Banking
     • Credit Card (soon to be available)
     • E-money
     • Bills Payment

     When payment is received, it will be verified and secured by Auction.ph. After payment is secured, Auction.ph will notify the seller (through e-mail) to ship the item/s to the buyer, giving him the buyer’s shipping details.

     Buyer has seven (7) days upon end of auction or selling transaction to settle payment of item/s with Auction.ph. If after seven (7) days, Auction.ph does not receive payment, transaction is considered cancelled.

     Links:

     • Internet Banking
       Buyer may choose to remit from any of the participating banks under Auction.ph’s bank consortium partners:
       
       

       Megalink (The PORT)

       1. Asia Trust Bank
       2. Bank of Commerce
       3. Development Bank of the Philippines
       4. Insular Savings Bank
       5. International Exchange Bank
       6. Keppel Monte Bank
       7. Maybank
       8. Union Bank

     Bancnet Online

     1. Allied Bank
     2. China Banking Corporation
     3. China Trust Bank
     4. Citystate Savings Bank
     5. PB Com
     6. Philtrust Bank
     7. RCBC
     8. RCBC Savings Bank
     9. Standard Chartered Bank

     Each of the internet banking options has different transaction fees. For Megalink, Php 20.00 per transaction will be charged while Php 8.00 per transaction for Bancnet Online.

     • Credit Card
       This payment facility will soon be available to Auction.ph members.
     • E-money
       E-money is cyber-money which is used exclusively like real money on Auction.ph as: payments for purchases, called E-money 1 or the cashable type; or as payment also for purchases, service fees for auction and other selling services of the Company, called E-money 2 or non-cashable type.
     • Bills Payment
       You can also choose this payment method in paying your bills in Auction.ph. There are two collection channels available for you – Over-the-counter (OTC) and the Automated Teller Machine (ATM) through any RCBC Branches and ATM.
  3. Seller ships the item/s
     

     Upon confirmation of payment from buyer, Auction.ph sends notification to seller to ship the item/s, using preferred shipping company or another reliable logistics company.

     Seller sets who pays for shipping, however, Auction.ph only covers item payment in its Escrow Service. A different arrangement should be made between the buyer and the seller regarding payment of shipping fees. Also, seller must confirm delivery in the website and provide tracking information (if any), to serve as reference to the buyer. If an item requires no shipping, this step is not necessary.

     The confirmation period given to buyer (7 days) will not begin until buyer confirms receipt of the item. In cases where item is not received, buyer may appeal to Auction.ph regarding non-receipt of the item. For further details, see Item Not Received Policy.

  4. Buyer confirms purchase of the item/s
     

     When the buyer clicks ‘BUY’ button in the My Auction > Buying > Delivered, item payment is reflected in the seller’s Virtual account. In which case, the disbursement process shall be initiated by the seller.

     Buyer rejects the item or requests for an exchange of the item

     If the buyer rejects or requests for an exchange of the item, he should do so by contacting the seller immediately and by posting the request in the website for reference. In this case, remittance of the purchase money to the seller shall be suspended. Charges for returning item/s, such as shipping charges, should be paid by the person who caused the return of the goods.

     When buyer returns a purchased item to the seller, he must make sure that it is packed and sent safely. The seller who received the returned item should confirm refund in the website. In which case, necessary actions shall be taken such as: refunding all of the item payment, canceling the payment with credit card (if available) and giving notice of processing of the refund. The seller shall be responsible for all the damages or incidents from the delay of confirming receipt of the returned item.

     Buyer can request for refund of the purchase money by presenting evidence of sending returned item from 10 days after sending it. In such case, refund will be made within two (2) days after the cut-off period for payment processing. However, the refund can be suspended when seller appeals non-receipt of the returning item. In such case, refund will only be processed when buyer presents documentary evidence of arrival to the seller of the returned item.

     When there is a conflict among sellers, buyers, and logistics company regarding delivery, all concerned parties shall negotiate to resolve such conflict. The Company assumes no responsibility for such conflict.

  5. Auction.ph pays the Seller
     Payout requests (minimum of P500.00 in Virtual Account Balance) shall be processed within three (3) business days from date of request. Funds shall be credited to sellers’ bank accounts within the specified period. At this moment Auction.ph can transfer funds to RCBC and Union Bank accounts only. No transaction fees will be paid. Also, the seller must own the bank account.
     
     Functions and Features of the Escrow System:
     • Acts as intermediating payment (payment, remittance, refund)
     • Providing various payment methods
     • Making fee collection simple and easy
     • Automating payment confirmation process
     • Automating shipping request transmission
     • Custom E-money system
     What are the benefits?
     • Prompt auction / transaction closing
     • Reduced payment time
     • Reduced errors in payment confirmation, remittance and refund processes
     • Reduced overall lead time
     How buyers are protected:
     • Remittance of payment to seller only upon buyer’s confirmation of purchase
     • Refund upon buyer’s request and seller’s approval
     How sellers are protected:
     • Requested to ship item/s to buyer only upon confirmation of payment
     • Refund upon buyer’s request and seller’s approval

   

  Is this information useful?   

• Rules of the Escrow Service
  1. Escrow service is provided for the purpose of protection of every member, and for trust and safety of mutual members' transactions; Auction cannot be a proxy for any buyers and sellers throughout this service.
  2. Interest on the purchase money kept in trust during the progress of the escrow service shall be regarded as service cost and members cannot claim on return and refund any interest, etc.
  3. Charges from the remittance of purchase money shall be paid by members.
  4. Auction can limit to provide escrow service at a part or whole of the items registered:
  • by a seller who is suspected or confirmed to abuse escrow service to violate any law, public order or public morals.
  • due to any accidents or causes not otherwise provided by the escrow service.

  See also: User Agreement.

   

  Is this information useful?   

• Unpaid Item Policy

  The buyer should remit purchase money within seven (7) days after successful bidding according to the process of the escrow service. Failure to do so will result in either suspension or termination.

  See also: User Agreement.

   

  Is this information useful?   

• E-Money Policies
  1. There are two (2) types of E-Money introduced by the company – E-Money 1 or the cash-convertible type and E-Money 2 or the non-cash-convertible type.
  2. Member can withdraw E-Money 1 and can claim the balance (after deducting negative E-Money) upon termination of agreement or membership.
  3. When a member wants to remit the amount or transfer E-Money to another member, Auction will only process the payment or transfer upon receiving documentary evidence of such request from the member initiating the remittance or transfer.
  4. E-Money 2 or that which cannot be converted into cash is accumulated through various promotional efforts by Auction. It cannot be withdrawn as cash, and in cases of termination of agreement or membership, the remaining E-Money 2 in the member’s account is forfeited
  5. A member can select the use of E-Money optionally as: payment of the purchase money (E-Money 1) or as payment of the fees for posting, additional service and the like (E-Money 2).

  See also: User Agreement.

   

  Is this information useful?   

• How do I start using Smart Money?

  To start using your SMART Money account, go to any SMART Wireless Centers, fill out an application form and submit a valid ID. Pay P200 if you want a SMART Money card or just have a virtual or cardless account for FREE!

  How to activate SMART Money account?

  * Send MONEY to 343
  You will receive a message indicating your 16-digit SMART Money number.
  

  Activate your 16-digit SMART Money number using your cellphone;

  1. Go to SMART menu and select SMART Money
  2. Select Activate Card, press OK
  3. Key in the account number (16 daigits) then press OK
  4. Enter your preferred card name (minimum of 2, maximum of 12 characters) that you want to assign to the card, then press OK
  5. You will receive confirmation request of your transaction, press OK
  6. You will be prompted to enter your card PIN. Enter default card PIN (123456). Press OK.

  How do I load cash to the Smart Money?

  Over the counter. Visit any of the following:

  • SMART Wireless Centers
  • Banco de Oro branches
  • SMART Padala participating outlets

  How do I load my SMART Money via SMART Wireless Centers, Banco de Oro Branches, and SMART Padala participating Outlets?

  1. Go to any outlet and fill out a cash load slip.
  2. Give the money to be loaded to your SMART Money account to the cashier.
  3. You will receive a confirmation message when money has been loaded to your account.

  How do I check my balance in my Smart Money account?

  1. Go to SMART Menu and Select SMART Money
  2. Select Balance and press OK
  3. Select from your list of your card names and press OK
  4. You will receive a text message containing the account balance and any loyalty points earned of your selected card

   

  Is this information useful?   

• What is GCash?

  GCash enables any Globe or TM subscriber to send and receive money and make payments just through text/ SMS.
  GCash is most commonly used by Globe and TM subscribers for:

  • Sending and receiving money locally or internationally since GCash is a much faster, cheaper, and more secure alternative to traditional money transfer services- at the Speed of Text, No Membership, Maintenance, Remittance, or Bank Fees!
  • Prepaid Reloading due to the convenience of being able to load anytime and anywhere and the 10% REBATE for every transaction.

   

  Is this information useful?   

• Alert Notice: Beware of scammers and sellers
  1.Danger of direct transaction If transactions are completed outside of the Escrow System, there is a high risk that the buyer or seller may fall prey to fraud. Scammers will tell you they don't use Escrow System and order you to deposit thru their personal bank account for "faster" transaction but after you deposited the money, they disappear and can't be contacted anymore. The Escrow System reduces the risk of fraud by acting as a trusted third party that collects, holds and disburses payment according to Buyer and Seller actions.
  
  2.Sellers for possible banishment from auction.ph and exposure of their private information when they deceive buyers A complaint arise to a seller will undergo investigation but the seller's account will be suspended till issue is settled. Auction can offer contact information of the seller to the deceived buyers once Auction.ph has proven the undelivered item after payment. When it is needed to offer minimum private information (name, address and contact number) If you experience situation of such kind, please report the incident to Auction thru helpdesk@auction.ph so that we could take appropriate action.

   

  Is this information useful?