How do Market X fees work?
Listing an item is always free on Market X Jamaica. Fees are charged when an item sells or when a service is used. The following charts explain fees on Market X Jamaica.
Vendor/Seller Fees
Your earnings equal the listing price minus the selling fee, payment processing fee. These fees are charged to the vendor when the sale has been successfully completed.
Buyer Transaction and Payment Fees
Market X incurs fees related to payment processing and balance withdraws out of our system by our financial services partners. Some of these service fees are charged to our users.
Payment Processing:
Market X charges vendors a market competitive rate for each payment received from the buyer. We do so with the added convenience of not requiring you to sign up for a separate processing account. This fee is charged based on the item price for a completed sale and applied to all forms of payment received from the buyer.
Balance Withdrawals:
There are two ways to cash out your earnings from your Market X wallet offered by Market X.
Direct Deposit:
Once you’ve added your checking or savings account and have a balance, you can request a cash-out request to your bank using direct deposit. This transaction is typically processed within 1-2 business days depending on your bank’s processing times. There is no fee for a direct deposit of $1,000 JMD or more, but you will owe a $200 JMD fee if your bank can’t process the request or if the amount requested is under $1,000 JMD.
Lynk Payment:
Lynk is one of the fastest way to get paid when you need that extra cash same day. To do this, go to mX Dashboard and click “Withdraw” complete your ID validation (if you haven’t already), and select request withdraw ensuring you select “Lynk” as the payment method. There is no fee for cashout.
Delivery Fees
We offer low, fixed delivery rates with Tara Courier Service and Knutsford Courier Service for packages weighing up to 50 lbs – with a maximum length of 45”.
Tara Courier Services Limited – Express Delivery: If your package weighs more than 50 pounds (or exceeds the 45” size limit), there is a cost of $850 for every 10lbs after.
Knutsford Courier Service – Standard Delivery: For orders where Knutsford Courier Service has been selected as the delivery option, then the buyer will pay to collect the item at the Knutsford courier branch at their current rates – See HERE.
Cancellation Fees
Cancellations should only occur if the vendor cannot fulfill an order. If a vendor has frequent cancellations, Market X may charge a cancellation fee of 5% of the item price (maximum of $5,500) to cover the cost of any transaction fees, operational and/or delivery label costs we incur. You will receive warnings if you reach this limit before a fee is charged. This fee will be subtracted from your balance within 30 days after you receive a notification from us.