IF TRADE ME GOES INTO RECEIVERSHIP, WHAT WILL THEN HAPPEN TO THE FUNDS STORED IN PING?
As Trade Me continues its all-round decline, it leads me to wondering what would happen if it did go into receivership, mainly with members Ping funds? Are they safe & would they still get paid out to members if the company went under?
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S Community Superuser
Kia Ora marriott76,
All Ping balances are held in a dedicated trust account. This is a legal requirement and means our money is kept separate from Trade Me's own business accounts. Our balance is protected even in the unlikely event that Trade Me closes down.1 -
They certainly aren't doing themselves any favors with there current moronic ideas.
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Well at least Ping funds are safe! It's a real tale of how not to run your company. Trade Me was a much-loved & hugely successful NZ institution for years & now it's a sparsely used & viewed site dearth of any warmth or love.
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AJ Community Superuser
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I would love to see some of the sell-through stats and a comparative usage rate from 3, 5, 10 years ago. You can put any political numbers spin on it you want but the stark truth is that Trade Me has been on the big downhill slide for sometime now. & yes, it would be fairly considered to be a sparsely used & viewed site alongside Marketplace, as a large percentage of NZers have given up on selling & also, looking for their treasures on Trade Me.
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AJ Community Superuser
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Numbers have probably dropped, now that's an understatement! All the bests for your day.
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I pretty much stopped selling on this platform March because my sales on another platform took over, and all i seemed to do was pump money out for listing fees. I actually tried to push TM sales on all my FB pickups but when i did 9 times out of 10 people laughed and i got the old "do people still use that". After a few months of that i pretty much realized and gave up with it, plus it felt embarrassing even saying it in the end. The truth is TM is a dinosaur. Don't put all your eggs in 1 basket marriot76
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Trade Me has led itself into the Jurassic period & is never ever going to reach anywhere the heights it once did. A combination of greed & ineptitude has led them down this path.
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