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Welcome to the tutorial for adding funds to your ZenMarket account. Read this guide if you are wondering how to get started with your Japan shopping experience.
No credit card? No worries – ZenMarket has tons of payment methods available to help with your shopping needs.
ZenMarket’s Wallet System Explained
ZenMarket operates on a wallet system. What this means is that you can store funds on your account which you then use to shop.
This is beneficial for a number of reasons, including but not limited to:
- Lock in your exchange rate at the time of your deposit
- Budget Management
- Faster processing of auctions
When money is deposited, it is automatically converted to Yen, locking in your funds. This can make it easier to browse Japanese products, as the price will remain the same. If browsing while using a currency other than Yen, the price may fluctuate depending on which currency you have selected.
Also, when using the auctions bidding system, any funds you have leftover after an auction will be returned to you so you can start bidding on more auctions immediately.
How to Add Funds to Your ZenMarket Account
To get started with purchasing items on ZenMarket, you first need a user account. This is so that you can manage all of your orders, which is particularly important if ordering from multiple stores.
In addition it will help us communicate with you if you have questions for sellers.
No ZenMarket Account?
Once you have signed up for your free ZenMarket account, please continue with the following steps.
1. Access the Add Funds Screen
The first thing you need to do to start shopping is to add funds to your ZenMarket account balance.
This ensures that you lock in your exchange rate, as well as ensures you have enough funds to start bidding on auctions. If you are running low on funds and want to keep shopping, you can always deposit additional funds later too!
To Add Funds, to your ZenMarket account, first make sure you’re logged in, then click on the “My Account” button on the website.
Once you have accessed the My Account page, click on the “Add Funds” button.
2. Choose a Payment Method
There are many different payment methods available on ZenMarket. For almost all of our available regions we can accept credit card payments via Stripe – if Stripe accept it, typically we can too. We also accept PayPal, Wise Payments, SWIFT Payments, Local Bank Transfers, and Cryptocurrencies via Coingate. We also have AliPay available, but due to tecnhical restrictions, you must switch to the Chinese language versions to use it.
We also have some special payment methods depending on your billing country/region available. See the below two examples of what a customer adding funds would see.
The first is for a user in the United Kingdom, while the second one is for a user in Malaysia. Notice how some payment methods are different.
While more payment methods have been added for your convenience, each comes with a different deposit fee.
The cheapest deposit fee comes from Wise, which is less than 1%. Most other payment methods have a deposit fee of 3.5%.
It is for this reason that it would be recommended to use Wise to make deposits if it is available to you.
Also Read: WISE – VERY LOW DEPOSIT FEES HERE!
Once you have decided on a payment method, click on it and you will be provided with instructions on adding funds to your account. THe exact instructions will vary slightly depending on which payment method you select, but for most it is as simple as checking out on regular eCommerce websites.
Complete the instructions so you can get started on shopping from Japan!
Payment Method Verification
There are some cases where our security team will ask for additional verification in order to allow you to start shopping. We know that you want to begin your Japan shopping journey now, but this is a necessary step in our fight to protect customer card security and prevent fraud in the cross-border eCommerce industry.
Also Read: HOW TO VERIFY MY ACCOUNT
We thank you for you patience and understanding throughout the verification process.
Can I Bid on Auctions Without Depositing Funds
No… at first – let us explain.
Due to Yahoo! Auction’s Terms of Service once a bid has been placed it cannot be withdrawn so if you bid on something and change your mind on it halfway through and end up winning, you have to buy it or risk getting your Yahoo! Auctions account banned.
If our accounts getting banned it could put our bidding systems down for an indefinite period of time, which nobody, including our customers, want. To prevent that from happening ZenMarket has to essentially purchase the item.
In the early days, we ended up with many items that users bid on, but decided they did not want anymore, which would leave us out of pocket, and with a number of items we did not know what to do with.
That is why we now require users to add enough funds to cover their bids prior to bidding.
Sounds like a resounding NO to bidding without funds, right?
Not quite – Part of the ZenMarket loyalty program is our credit system, which allows users who have shipped a certain number of parcels in the last 12 months the ability to bid on credit. In other words, bid before adding funds.
Also Read: NEW ZENMARKET CREDIT SYSTEM
This is a great way to make it more convenient for users while allowing us to reciprocate the trust that our loyal customers have shown us through ordering from ZenMarket.
Even so, we would ask that you please triple check before bidding on auctions to prevent the above situation from happening.
Can I Withdraw Funds I have deposited?
Yes, of course! You can request to withdraw any deposited funds from your account that are currently available within 180 days of you adding them to your account.
Additionally, if we are unable to purchase an item for you, the purchase price of the item plus the 300 Yen ZenMarket service fee will be returned to your ZenMarket account.
The same concept applies if you lose an auction. The funds from the auction you lost will be returned to your account. Also, if you bid on an auction and win it for less than what you bid, the difference between the winning bid plus the ZenMarket service fee, and what you bid will be returned to your ZenMarket account.
Because these funds are available, you can withdraw these funds at your discretion within the 180-day refund window, or continue using the funds for purchasing other items, the choice is yours.
To request to withdraw funds, simply click the “Withdraw” button from the Payments Tab on your account.
A couple of things worth taking note of:
- As the withdraw function is confirmed manually, it may take a few days after requesting a withdrawal for the funds to be remitted. We thank you for your patience and understanding in this matter.
- Funds that are considered to be participating in a purchase (i.e funds that are being used to bid on an auction, funds that have been used to pay for a product) cannot be withdrawn. In most cases, these purchases are unable to be cancelled. As such we ask to make sure you are 100% committed to purchasing something when you click the Pay or Bid buttons. Bids are unable to be cancelled as per Yahoo! Auctions Terms of Service.
- Withdrawals will be treated as a refund and made out to the payment method that was used to make the deposit. This will be based on the actual method for the amount in question, not the most recent payment method. The funds that were deposited first, will be withdrawn first. There are some cases where users who have made deposits using various payment methods, may receive withdrawals as a split payment to the methods they deposited with.
- ZenMarket’s signup bonus, as well as funds won from competitions or raffles cannot be refunded. It can only be used on the ZenMarket platform.
- It is not possible to withdraw funds that have been added using cryptocurrency at this point in time.
- When withdrawing funds, no payment fees will be charged, but please be aware that some fees charged at the time of making a deposit (eg. bank remittance fee) may be non-refundable (the bank charged it, not us).
- In cases where the exchange rate fluctuates from the time of deposit to the time of withdrawal, the amount refunded may also fluctuate.
Solving Payment Issues
If ever you are having a problem with adding or withdrawing funds, feel free to get in touch with our customer support team. You can reach them via the messages tab in your account.
If your issue is urgent, you can reach them by clicking the “I have a problem” button.
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