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[News] Trade Me Announces Refund Policy for Buyers

Trade Me Buyer Protection

Trade Me has today announced a new refund policy which aims to help its members get a refund when their transaction doesn’t go to plan. The “Buyer Protection” scheme will provide disgruntled buyers, who meet certain criteria, with a refund if they don’t receive their item or receive an item which wasn’t described as such. The scheme will come into effect on the 21st of February 2017, covering roughly about 80% of its listings on its launch with the potential to cover up to 98% of all marketplace listings.

The new Buyer Protection scheme is described as a “safety net” for Trade Me users by Stuart Mclean, head of marketplace at Trade Me, and is similar to Amazon’s Buyer Protection scheme.

“Only a tiny percentage of Trade Me transactions ever result in an issues, but on these rare occasions we want to make it easier for members to get things sorted out. The Buyer Protection initiative is a free safety net, and another way for us to show our members that we’ve got their backs,” Mclean said.

“It’s important that our members know Trade Me is different to unregulated marketplaces. With us they have someone to contact if they need a hand, and an avenue to get a refund if something goes wrong.”

In order for the Buyer Protection scheme to work, there are certain criteria that must be met, for example, members must trade items through their card payment system so Trade Me can “see the transaction from end-to-end.” This means that internet banking trades or cash payment trades will not be eligible for a refund, although if you’re paying in cash you will usually be within arm’s reach of the seller and can inspect the product before paying.

Users with issues can contact Trade Me about a bad trade and can get a refund upon meeting set criteria. The maximum refund claim is $2,500 and applies to general items from the Marketplace, with a few exceptions like the pets and animals category.

Mclean continues that, “Only rogue sellers will have an issue with this – they’re the ones who will hear from us and it will force them to smarten up their act or get off Trade Me altogether.”

For more information, please visit: http://www.trademe.co.nz/buyerprotection