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.
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.
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 you send your money, it can take 1-2 days to show up in your account. We process transfer outs everyday at 2:45 pm.
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.
Turn off automatic transfer out first
If you already have automatic transfer out on, you'll need to turn it off to make an 'ad hoc' 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 Transfer out. If you don't have a saved bank account, select NZ Bank account to add one.
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 Transfer out.
5. Select Transfer out now.
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 Transfer out.
5. Select Transfer out now.
Automatically transfer out
Turn on automatic transfer out, so any Ping balance heads straight to your bank account. To turn on automatic transfer out:
- Head to trademe.co.nz in your browser. (Turning on or off automatic transfer is not currently available in the iOS app or Android app).
- Go to My Trade Me.
- Under ‘My balances’, select Manage Ping.
- Turn on Automatically transfer Ping balance. If the blue switch is on, automatic transfer is on.
Add or update your transfer out 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 transfer out 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 ‘Transfer out’, select the three dots to the right. Select delete to remove saved details.
4. To add new details, select NZ bank account. Type in your Account Number and the Name of the Account Holder. Select Add.
5. After you add your new account, select Transfer out to withdraw your Ping balance.
To add or update your transfer out 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 Transfer out.
5. Select Edit to remove saved details and NZ bank account to add new details.
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 now to withdraw your Ping balance.
To add or update your transfer out bank account on the Android app:
1. Select Profile & Account profile-framed from 'My Trade Me' profile-framed.
2. Select Manage Ping.
3. Select Transfer out.
4. To add an account, select NZ bank account. To edit your saved account, select Edit.
link