What is it?
The virtual wallet is a unique feature of The Whisky Shop Auctions that allows you to save the proceeds of a sale in your account. You can then choose to have this cash credited to your chosen settlement method or keep it stored in your wallet for up to three months to use for future purchases. This can reduce the cost of transaction and currency conversion fees with your bank.
How do I use it?
When one of your items has been sold at auction, and once the buyer has paid, your virtual wallet will be automatically credited with the funds so that you can choose how and when you would like to receive the cash.
How do I make a withdrawal?
To withdraw funds from your virtual wallet, just go to My Account and select Virtual Wallet. From there you can choose to withdraw your funds and select the settlement method you would prefer. Our accounting team will then review the request. Once approved, the status will change in your account from ‘pending’ to ‘approved’ and then the funds will be credited to your settlement method in 3-4 working days.
Where have my funds gone?
All funds in your virtual wallet are automatically paid out on a 90-day cycle. We will transfer the funds to your default settlement method at the end of each quarter. You can change your default method in My Account.