Transfer out your Ping balance
Withdraw your Ping balance and update your transfer out bank account.
Withdraw the money from your Ping balance to your bank account.
Changes to Ping withdrawals
We now process Ping transfer outs three times a day, at 9:00 am, 3:00 pm and 9:00 pm. If you can't see the changes, make sure to update your app.
If you're a professional seller with automatic transfers on, you'll stay at once a day at 3:00 pm unless you change your transfer frequency in Manage Ping.
Your Ping balance
When a buyer uses Ping to pay for something you sell, the money goes into your Ping balance.
You choose what to do with that money. You can send it to your New Zealand bank account, or you can use it to buy other things on Trade Me.
All Ping balances are held in a dedicated trust account. This is a legal requirement and means your money is kept separate from Trade Me’s own business accounts. Your balance is protected even in the unlikely event that Trade Me closes down.
Negative Ping balance
Find out how to settle your negative Ping balance.
Manual transfer out
You can transfer out or withdraw your Ping balance to a New Zealand bank account. You must transfer the full amount, not just part of it.
When we process transfer outs
- We process transfer outs three times a day, at 9:00 am, 3:00 pm and 9:00 pm. If you make a one-off, manual transfer out, it'll go out at the next of these three times.
- Your money usually lands in your account within 2 hours of the process time.
- Sometimes, our trust & safety checks add extra time. Keep an eye on your emails if your transfer out takes longer than 24 hours.
Turn off automatic transfer out first
If you already have automatic transfer out on, you'll need to turn it off to make a manual transfer out. If you don't you'll see the error message, 'your account isn't eligible for ad hoc payments.'
To transfer out your Ping balance on the Trade Me website:
1. Go to My Trade Me.
2. Under ‘My balances’, select Manage Ping.
3. Under ‘Transfer out’, select Manual Transfer.
4. Select Transfer out' If you don't have a saved designated bank account, select Add bank account to add one first.
To transfer out your Ping balance on the iOS app:
1. Go to My Trade Me.
2. Select Profile & Account.
3. Select Manage Ping
4. Select Manual transfer.
5. Select Transfer out. If you don't have a designated bank account, select Add bank account to add one first.
To transfer out your Ping balance on the Android app:
1. Go to My Trade Me.
2. Select Profile & Account.
3. Select Manage Ping
4. Select Manual transfer.
5. Select Transfer out. If you don't have a designated bank account, select Add bank account to add one first.
Automatic transfer out
Turn on automatic transfer out, so any Ping balance heads straight to your bank account.
Transfer frequency
When you turn on automatic transfer out, choose how often your Ping balance moves to your bank account:
- Three times a day: transfers are processed at 9:00 am, 3:00 pm and 9:00 pm.
-
Once a day: transfers are processed at 3:00 pm.
If a predictable, once-a-day transfer suits your accounting or reconciliation better, choose once a day. If you'd rather get paid sooner, choose three times a day.
Turn on automatic transfers
To transfer out your Ping balance on the Trade Me website:
1. Go to My Trade Me.
2. Under ‘My balances’, select Manage Ping.
3. Select Automatic transfers.
4. Turn on Automatically transfer out my funds. If you see the check, automatic transfers are turned on.
5. Choose your Transfer Frequency.
To transfer out your Ping balance on the iOS app:
1. Go to My Trade Me.
2. Select Profile & Account.
3. Select Manage Ping.
4. Select Automatic transfers.
5. Under 'Transfer settings', turn on Automatically transfer out my funds. If the blue switch is on, automatic transfer is on.
6. Choose your Transfer frequency.
To transfer out your Ping balance on the Android app:
1. Go to My Trade Me.
2. Select Profile & Account.
3. Select Manage Ping
4. Select Automatic transfers.
5. Under 'Transfer settings', turn on Automatically transfer out my funds. If the blue switch is on, automatic transfer is on.
6. Choose your Transfer frequency.
Identity verification request
We may email you asking for photo ID before we can process your Ping withdrawal. This is a security check to make sure the money goes to the right person.
If you get this email, you'll need to submit proof of identity within 72 hours, or we'll cancel your Ping withdrawal. If we cancel your withdrawal, the funds will go back to your Ping balance.
Next steps
If we ask you to verify your identity, here's what to do:
- In the email from us, select Verify your identify to open the secure First AML website.
- Submit your identity information. We'll never ask for your Trade Me password or internet banking login.
- We'll review your identity documents and email you once your withdrawal's been processed.
Add or update your designated bank account
Transferring to a new account
When transferring to an account for the first time, we may make a $0.01 deposit. This is just a way for our system to check that your account is valid, and it will disappear from your statement after a few days.
To add or update your designated bank account on the Trade Me website:
1. Go to My Trade Me.
2. Under ‘My balances’ select Manage Ping.
3. To update your bank account, under ‘Designated account’, select the three dots to the right. Select Replace.
4. To add new details, select Add bank account. Type in your Account Number and the Name of the Account Holder. Select Save.
5. After you add your new account, select Transfer out to withdraw your Ping balance.
To add or update your designated bank account on the iOS app:
1. Go to 'My Trade Me' profile-framed.
2. Select Profile & Account profile-framed.
3. Select Manage Ping.
4. Select Manual transfer.
5. To add new details, select Add bank account. To update your bank account, under ‘Designated account’, select the three dots to the right. Select Replace.
6. Type in your Account Number and the Name of the Account Holder. Select Save.
7. After you add your new account, select Transfer out to withdraw your Ping balance.
To add or update your designated bank account on the Android app:
1. Go to 'My Trade Me' profile-framed.
2. Select Profile & Account profile-framed.
3. Select Manage Ping.
4. Select Manual transfer.
5. To add new details, select Add bank account. To update your bank account, under ‘Designated account’, select the three dots to the right. Select Replace.
6. Type in your Account Number and the Name of the Account Holder. Select Save.
7. After you add your new account, select Transfer out to withdraw your Ping balance.
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