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- Your Ruby Lane account is funded on a prepay basis, similar to the way most sellers sell their items online: you pay us first and then we provide services.
- Shops who choose to close permanently and who have at least $1 in their account may request and receive a refund of their credit balance. Shops must make their refund request at the time of closing. For shops who close other than the last day of the month, maintenance fees and monthly Paid Featuring are non-refundable. Any non-refundable option will be clearly stated as such in advance. Shops will receive their refund 30 days from the time they request it, provided there are no unresolved transactions.
- All Ruby Lane shops must have sufficient funds available in their Ruby Lane account by the 1st of the month to pay the fees due for the new month and click charges, if any, incurred in the prior month. Use the Projected Account Summary shown under Accounting, Current Balance at any time during the month to get an idea of how much you will need to have in your account by the 1st.
- Your Ruby Lane account must be funded ahead of time with an automated service like PayPal, or by entering your credit card information, and selecting a payment option. PayPal and credit card payments are preferred and are credited to your account instantly, in most cases. It is important to keep in mind that if you are going to use PayPal, it does take time to set up a new PayPal account so plan accordingly if you are not already a PayPal user.
- Deposits need to be at least $10. This keeps our overhead low, and also allows you to maintain a small balance in your account so you can add items to your shop. If you pay the exact amount owed, you won't be able to add items as there is no balance in your account and you end up having to make yet another deposit.
- Statements are issued and fees are deducted (when applicable) from your Ruby Lane account on the 1st of each month. This is the only email notice you receive from us regarding payment.
- If there are insufficient funds in your Ruby Lane account on the 1st of the month:
- your account balance will go negative
- your statement on the 1st will indicate that payment is overdue
- you cannot add new items while your balance is negative
- we extend a 15-day grace period to deposit sufficient funds
- we may try to contact you by phone if time permits
- the grace period cannot be extended past the 15 days we offer
- If there are still insufficient funds in your Ruby Lane account on the 16th of the month:
- your shop and all linked shops are placed in preview (not open to the public)
- a $25 late / re-open fee is added to your account
- you lose your Charter Shop status
- Regarding the $25 late / re-open fee, some may feel that is excessive, so let us explain. When a shop is put in preview because of insufficient funds, there are usually several emails exchanged explaining why payment was not made, asking how/why Charter Shop status is affected, requesting adjustment or reinstatement of Charter Shop status and so on. This is a significant drain on Ruby Lane's Customer Support resources that is not completely covered even by the $25 fee.
- Please understand that this procedure is completely automated so exceptions cannot be made under any circumstances. It is your responsibility to ensure that sufficient funds are in your Ruby Lane account on the 1st. Shops that wait until the last minute to make payments run the risk of being put into preview because of potential transaction delays, technical glitches, or other unforeseen circumstances.
- If you have already been placed in preview for insufficient funds twice in the last year, and for the third time in a year you have not funded your shop by the 15th of the month, you will be sent an email stating your shop is no longer active on Ruby Lane. After approximately 72 business hours, your shop and all linked shops(s) will be permanently removed from our site. The 72 hours will allow you time to clear all outstanding transactions, copy all your shop data, including item descriptions, pictures, history records, accounting records, reports, and other shop information because once your shop is removed, the data cannot be recovered.
- If you have submitted a PayPal eCheck which did not clear your bank twice in the last year, and either of these scenarios occurs for the third time in a year, you will be sent an email stating your shop has been placed in preview status and is no longer active on Ruby Lane. After approximately 72 business hours, your shop and all linked shops(s) will be permanently removed from our site. The 72 hours will allow you time to clear all outstanding transactions, copy all your shop data, including item descriptions, pictures, history records, accounting records, reports, and other shop information because once your shop is removed, the data cannot be recovered.
This policy may sound harsh, but if you cannot manage your payments to Ruby Lane for your monthly shop fees, it is likely that purchase order transactions may be problematic as well and we want to avoid complaints from buyers.
Article Last Update: September 18, 2017