TradeGecko Payments is not available on Trial Accounts.
Things to take note of our Credit Limits 📝
In using the TradeGecko Payments Service, we have implemented the below credit limits for our customers.
The limits are designed to reduce attempted fraud and protect customers from potential credit default:
- No transactions above $10,000 without approval;
- Payments above $5,000 will be reviewed;
- Payments will take 5 working days to process;
- Accounts processing more than $10,000 in payments per month will be requested to provide an Escrow or bank facility letter for security;
- All accounts are in compliance with Stripe’s T&Cs.
TradeGecko will not allow payments for businesses in financial services, IP infringement, regulated or illegal products and services, deceptive practices, and other prohibited businesses. Some examples, but not exhaustive, are counterfeit goods, marijuana dispensaries, sale of tobacco, e-cigarettes; weapons and munitions; gunpowder or explosives, and more. If you are uncertain about whether your business is a Prohibited Business or have questions about how these requirements apply to you, please contact us.
Initial Verification Process
This is to ensure Compliance as a Service (CaaS) to operate businesses effectively with us.
How does the process work?
To have TradeGecko Payments enabled for your account, you need to undergo a few steps. If you are keen on using TradeGecko Payments, send an email with the subject: ‘TradeGecko Payments Sign Up’ entailing the requisite information shown below:
1 A copy of the company’s Certificate of Incorporation and the Director/Shareholder regulatory extracts
2 A gist on the type of the products you sell
3 Bank reference letter
4 Average size of purchases
5 History with deliveries/chargebacks
6 Company Website
7 Length of time in business
8 Average revenue per month
9 A gist on the target audience and types of end-user (i.e., customers)
Once done, our Customer Success Team will be in close contact with you to have the above information verified. You should hear back from us within a week. Once successfully verified, TradeGecko Payments will be enabled in-app.
Should you have any questions regarding the initial verification process, please contact us.
Get started with TradeGecko Payments
Now that you have been approved during the initial verification, you can proceed to connect TradeGecko Payments. 💰 All invoices will have a 'Pay Now' button. Your customers/buyers will be able to pay directly from the invoice via TradeGecko Payments. You can also create and send these invoices in bulk via the Sales Order section.
Only the primary owner of the TradeGecko account can set up the TradeGecko Payments account and edit its settings.
Check the box to agree to TradeGecko Payment Services Agreement and proceed to ‘Set up and Start Getting Paid’.
Step 1: Primary Country
Select the primary country of your business. This is usually where your business is located. For example, if your company is registered in Singapore, and accepts payments to and from a bank account in Singapore, you will select Singapore.
TradeGecko Payments is currently available in the following countries:
- United States
- United Kingdom
- New Zealand
Step 2: Business Details
Next, provide your business details such as business name, business registration details, and address.
Step 3: Business Representative Details
This is where you provide your Business Representative details for verification. The registration may differ from different countries. For instance, you might be asked to verify using the Last 4 Digits of Social Security Number for the United States, whereas using the Last 4 Digits of NRIC/FIN in Singapore.
Step 4: Link Bank Account / Debit Card
Select a bank account. This option differs based on the location of businesses due to the varied bank practices of each country. All the details here are compulsory.
For businesses registered in New Zealand, you will be asked for Routing and Bank Account Number to receive payouts. Follow our useful in-app tooltip guides to understand what is required for each section. You will see the below:
Step 5: Summary
Ensure that all your details are accurate by scrolling through the page. Finalize it by clicking on the 'Submit' button.
Then, you will be redirected to this screen:
You have successfully set up your TradeGecko Payments account. Now you can choose to go back to the Payments page or proceed to Verify Now explained with Step 6.
*Step 6: Additional Verification
Additional verification is required when your accumulated transaction amount exceeds a certain limit. This will prevent you from transferring money to your account until you are verified. For more details on how to submit an additional verification and more information, click here.
To submit additional verification for TradeGecko Payments:
Input your personal identification number and upload a scan of your ID Card. Please ensure that you provide a color copy scan which is clear and does not cover your photo on the ID.
Verification could take anywhere between a few minutes and a day, depending on how readable the provided asset is.
Once you have submitted your information, you can go back to the Payments tab where you will see all your payment details.
For more information on our TradeGecko Payments feature, check out the FAQ section here.