How Payouts Work

Understanding how Elexbig payouts work helps you plan your cash flow and manage your business finances effectively.

Payout Overview

When a customer purchases your product, Elexbig collects the payment. After the return window has passed, your earnings are released and paid out to you.

Payout Timeline

1. Customer pays: Payment is collected by Elexbig at checkout
2. You ship the order: Fulfil and dispatch the order with tracking
3. Delivery confirmed: The carrier confirms delivery to the customer
4. Return window: A 30-day return window begins from the delivery date for physical products (7 days for digital/software)
5. Buffer period: An additional 2-day buffer after the return window
6. Payout eligible: Your earnings become eligible for payout (16 days after delivery)
7. Payout processed: Payouts are calculated and processed every Friday

Note: The 32-day holding period (30-day return window + 2-day buffer) protects both you and the customer. It ensures returns can be processed before funds are released.

Payout Methods

• Nigeria Bank Transfer (preferred): Funds are deposited directly into your Nigeria bank account. This is the fastest and most reliable method.

Setting Up Payout Details

Go to Vendor Dashboard > Settings > Payments to enter your bank details. You need:

• Bank transfer: Bank name, account holder name, and Nigeria bank account number

Important: Make sure your payout details are correct before your first sale. Incorrect bank details can delay your payouts. Double-check the account number.

Commission Deductions

• Before payout, Elexbig deducts the applicable marketplace commission from each completed sale.
• Marketplace commission: Your applicable Elexbig commission rate
• Payment processing fee: ₦0 — No separate processing fee
• Total deduction: Marketplace commission only

Example

• If a product sells for ₦100,000 and the applicable Elexbig commission is 10%:
• Sale amount: ₦100,000
• Elexbig commission (10%): ₦10,000
• Payment processing fee: ₦0
• Vendor payout: ₦90,000

Minimum Payout Threshold

The minimum payout amount is ₦10,000. If your available balance is below this threshold on the payout date, it rolls over to the next payout cycle.

Viewing Your Payouts

Track all your payouts, earnings, and commission deductions from Vendor Dashboard > Revenue. You will see:

• Available balance
• Recent earnings by order
• Payout history with amounts and dates
• Commission breakdown per order

Tip: Keep your bank details updated. If your bank account changes, update it in Settings > Payments before the next payout cycle to avoid delays.

Still Need Help?

Our customer support team is here for you.
Chat with Elex, our AI assistant. Look for the chat icon on this page
Open a support ticket
Email us at [email protected]