What are standard Buyers fee?
Buying an Item. There is no buyer’s premium fee on purchase of items.
Auction. There is 5% Buyer’s Premium fee when you win a product through auction. A buyer’s premium is a standard auctioneering fee that helps cover the costs associated with sourcing products, marketing auctions, running the marketplace, and managing services such as payment collection, fulfillment, testing, shipping and inspection.
What does it cost me to buy on Carrera Co Marketplace?
We do not charge a fee to register or browse through our marketplace. As a Buyer, you can buy an item without additional cost to the item that you purchased. In an auction, as the winning bidder, you’ll pay the final auction price, the buyer’s premium of 5%, and appropriate shipping fees, which are collected prior to goods being shipped from the seller’s location.
How do I pay?
Once a item is purchased, you will be directed to a checkout page.
If you win a bid, when auction closes, you will receive an email with payment instructions.
You may pay for your auctions online by logging into My Account . Simply click on the “Pay Now” link to complete your transaction.
What are the different payment options?
| PHILIPPINES | INTERNATIONAL |
| Wire Transfer, GCash, PayMaya, Bank Deposit, COD | Wire Transfer Only |
| PayPal (up to Php250,000)** | Western Union (up to USD $5000) |
| Credit Card (Visa, MasterCard, and American Express up to up to Php250,000)** | Credit Card (Visa, MasterCard, and American Express up to up to (up to USD $5000)** |
GCASH, PayMaya and Direct Bank Deposit, COD
GCASH, PayMaya (Up to Php250,000) and Direct Bank Deposit (No limit) payments are accepted, send an email to sales@carreraco.com with list of Invoices for Verification and Acceptance.
Wire Transfer Only
A wire transfer is an electronic payment service for transferring funds by wire from one bank account to another over the Federal Reserve Wire Network. Once your auction has closed and you are the confirmed winner, we will send you an email with all the relevant wire transfer account information for your transaction. You may also obtain this information by choosing the wire transfer option when you click on “Pay Now” in My Account. Be sure to take this information with you when you go to your bank to initiate the wire transfer.
Most banks require you to set up wire transfers by going into your local branch office as fraud protection measures. Be prepared to have the following on hand:
- Picture ID
- The wire transfer information Liquidation.com has provided
- The transaction number(s) you wish to pay for via a wire transfer
- Transaction Number for the Auction
Speak with a bank representative to set up wire transfer and be sure to obtain a wire transfer confirmation.
Please send the completed wire confirmation to sales@carreraco.com. Be sure to include a list of the transaction IDs the wire is paying for, as this information will help get the funds applied as quickly as possible.
Please Note: We are able to apply most PH Domestic wires if received by 11AM PST on the same business day. Typically, International Wire transfers are applied within 3-5 business days.
Once the bank has processed your payment and your order is ready to ship, you’ll ben notified via email. In the meantime, you can check the status of your transaction online by going to My Account.
Paypal
PayPal is a widely used payment method for online transactions. if you will be utilizing this as a payment method, please set up a PayPal Account prior to bidding to avoid any potential payment delays. You may do so by clicking here. All buyers may pay for any transaction up to Php250,000 using their PayPal account. To pay for your auctions via PayPal, please choose this option after you select “Pay Now” in you Transactions section of the My Account page. Please Note: PayPal payments must be made in PHP for All Buyers. Payment via PayPal can only be accepted by initiating payment from the Carrera Co website and are typically reflected in your account within 1 hour.
Credit Card
All buyers may use a credit card (Visa, MasterCard or American Express) to pay for any Carrera Co transaction up to Php250,000. All transactions above Php250,000 must be paid via Wire Transfer or Bank Deposit. Simply enter the credit card number in the form provided at the time of payment and your transaction will be processed automatically using our secure server. Credit card payments usually are reflected within your account within the hour.
Can I use more than one payment method to pay for a transaction
You can contact us to discuss splitting payment options by email at sales@carreraco.com
When is my payment due?
Payment by winning bidder is due upon the close of the auction. This payment includes the full amount of the winning bid, the buyer’s premium and finalized shipping charges. Payment must be received within 2 business days of auction closing to avoid any penalty and/or cancellation.
Is there a penalty if I don’t make my payment on time?
Yes, there is a cancellation fee applied to any late payments. This fee is 15% of the auction lot price or Php2,500 whichever is greater. If we do not receive the funds or payment within the specified time frame, your transaction will be aborted and your account may be suspended.
Is your payment processing secure?
Yes, all payment information will be stored and processed using our secure server. All data is transferred in an encrypted format, and can only be decrypted by Carrera Co or the processing bank.
Can I pay for more than one transaction at once?
Yes, you can pay for several transactions at once by using the GCash, PayMaya, Western Union or wire transfer payment option only. Please indicate which transactions are included in the notes, or comments, section of your wire transfer and also make sure they are listed on the wire transfer confirmation. If paying with credit card or PayPal, you must process each transaction individually.
How do I check the status of my payment?
You can check the status of your payment online in My Account. We will also notify you via email as soon as your payment has cleared.
Why don’t I see the credit card information I entered when placing my bid?
The credit card information you entered before you placed your bid was required for verification purposes only. Credit card information is encrypted for your security. You will not see the credit card number when making payment, as it would jeopardize the security of your information.
What is your policy regarding chargebacks and credit card fraud?
Carrera Co offers an efficient dispute process, providing resolution for any dispute filed because of gross misrepresentation. As per our terms and conditions, buyers have agreed to use this dispute resolution process and should not use credit card chargebacks as an alternative way to resolve a dispute. Any buyer who attempts to rescind a credit card transaction (i.e. chargebacks), or disputed payment via PayPal without our express written consent will be IMMEDIATELY banned from Carrera Co.
Am I being charged VAT or Sales Tax?
All Vendors/Sellers will include the VAT or Sales Tax in their product pricing. No additional Sales Tax or VAT is added.