The legality of keeping money in your account

  • Resolved justdenp

    (@justdenp)


    1 year, 7 months ago

    A question for EU marketplace owners and perhaps developers who understand more about how the system should work

    I have been thinking about launching a marketplace registered in the EU. I can’t find any clear regulations about getting funds into marketplace bank accounts and withdrawals for sellers. If I will not use the paypal marketplace system, stripe split etc for insta splits, but all money will come directly into my marketplace account, and for example once a month I will manually send payment to the sellers, will it be legal or not? Thank you

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  • Hello @justdenp,

    The legality of storing the vendor earnings in the marketplace account varies from marketplace to marketplace. It also depends on the country’s rule. If that is legal in the country in which the marketplace is registered, then it should resolve the case.

    Still, it will be great to get confirmation from a legal advisor. They will be the best to provide accurate information.

    I hope this information will help.

    Thanks!

    Plugin Support sazdhossain

    (@sazdhossain)

    Hi?@justdenp

    Due to inactivity, we are marking this topic as resolved. Feel free to open a new one if you have any further questions.

    Cheers!

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