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SINGAPORE – Some sellers on e-commerce platform Qoo10 have not been able to withdraw their earnings since as far back as a month ago, The Straits Times has learnt.
Mr Jeffrey Quek, who sells construction and household items on Qoo10, said he has more than $12,000 in earnings stuck with the platform since Feb 1.
“This is the longest I have waited for the sum to be reflected in my bank account, and it is quite a big amount,” said the 27-year-old, who last made a successful withdrawal on Jan 25.
Founded in 2010, Qoo10 is run by South Korean e-tailer Giosis Group, in partnership with e-Bay. It offers a variety of products, with notable brands such as SK-II, Coach and Kate Spade.
Earnings on the platform are released into the sellers’ accounts every Wednesday after the platform takes a cut of 10 per cent to 12 per cent.
Sellers can manually request withdrawals of their earnings, and the money is typically transferred to the sellers’ bank accounts within two business days, sellers tell ST.
The sellers said they are still able to click “withdraw” on their account, but the funds are yet to be reflected in their bank accounts.
Mr Quek has sent seven e-mails to Qoo10, and was initially given specific dates by when the money would be reflected in his bank account, with the delay explained as due to a “technical issue”. He has been selling on Qoo10 since 2017 and said this is the first time he has experienced this issue.
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