Within three days of purchasing an item, you must submit the full purchase price, plus GST and a Transaction Fee (described in Fees & GST)
After you purchase an item, an IronPlanet representative will give you instructions on submitting your payment into the secure bank account assigned to your transaction. Payments can be made by electronic funds transfer or certified bank cheque (Australian customers only).
Electronic funds transfer are the recommended and fastest payment method. An electronic funds transfer eliminates the waiting period to receive funds typically associated with cheques.
A secure bank account is used for two reasons:
- To assure you that you don't pay the seller for equipment before receiving it and finalizing the transaction; and
- To assure sellers that they will receive full payment upon your receipt and acceptance of the equipment.
Once full payment from the buyer has posted into the secure bank account assigned to the transaction, IronPlanet will notify the buyer and seller alike that the money has been deposited. At this point the buyer will be provided with the location of the equipment and the seller must release the equipment for shipment. After the item reaches the buyer and is accepted, IronPlanet will authorize the secure bank account to release the funds to the seller.
Need more assistance?
Contact Customer Care at +1 925 225 8600, Monday through Friday from 8 a.m. to 5 p.m. US/Pacific Time.