How Payouts Work

Payout Overview

When a customer purchases your product, ELEXBIG collects the payment. Your earnings are held for the applicable protection period after delivery to allow time for returns, disputes, and chargebacks.

Once your holding period has passed, eligible earnings are released for the next Friday payout.

Payout Schedule

New Vendor — 21 Days

21 days after delivery

Every vendor starts here. No qualification is required. Sign up, get approved, and start selling.

Established Vendor — 14 Days

14 days after delivery

To qualify:

• 90+ days on ELEXBIG
• 10+ completed orders
• Dispatch rate above 90%
• No open disputes

Trusted Vendor — 7 Days

7 days after delivery

To qualify:

• 180+ days on ELEXBIG
• 50+ completed orders
• 95%+ dispatch rate
• No disputes in the last 90 days
• 2FA enabled

Important: ELEXBIG reviews vendor performance and determines eligibility for faster payout schedules. If you qualify for a faster payout schedule, ELEXBIG will notify you.

How to Request a Withdrawal

Once you have an eligible balance of at least ₦10,000:

Log in to your Vendor Dashboard.

1. Go to Withdrawal.
2. Select Create Withdrawal Request.
3. Enter the amount you want to withdraw.
4. Review your registered bank details.
5. Submit your withdrawal request.

Your withdrawal request will be processed according to the applicable ELEXBIG payout schedule.

Withdrawal Information

When creating a withdrawal request, your registered account information will be displayed, including:

• Amount: Your available balance
• Bank Name: Your registered bank
• Account Holder Name: Your registered account name
• Account Number: Your registered bank account number

Important: Please ensure the account holder's name matches the registered business or individual name on your ELEXBIG account. Incorrect or mismatched bank information may delay your withdrawal.

How to Change Your Account Information

If your bank details need to be updated, go to:
Vendor Dashboard → Settings → Payout Information
You can also update your payout information here.
Make sure your bank details are correct before creating a withdrawal request.

Payout Timeline

1. Customer pays: Payment is collected by ELEXBIG at checkout.
2. You fulfil the order: Prepare and dispatch the order according to your stated lead time.
3. Delivery confirmed: The order is marked as delivered.
4. Holding period: Your applicable 21-day, 14-day, or 7-day holding period begins after delivery.
5. Payout eligible: Once the applicable holding period has passed, your earnings become eligible for payout.
6. Payout processed: Eligible payouts are calculated and processed every Friday.

Why Is There a Holding Period?

The holding period provides protection for both buyers and vendors by allowing time for eligible returns, disputes, and chargebacks to be addressed before funds are released.

Payout Method

Nigeria Bank Transfer: Funds are deposited directly into your registered Nigerian bank account.

Setting Up Payout Details

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

You need:

• Bank name
• Account holder name
• Nigerian bank account number

Important: Make sure your payout details are correct before your first sale. Incorrect bank details may delay your payout.

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 your 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 eligible balance is below ₦10,000 on the payout date, it will roll over to the next payout cycle.

Viewing Your Withdrawals

You can track your withdrawal requests and earnings from your Vendor Dashboard - go to withdrawals

You can view:

• Available balance
• Withdrawal requests
• Withdrawal amounts
• Withdrawal status
• Payout history
• Commission deductions

Moving to a Faster Payout Tier

The faster payout tiers reward vendors who consistently fulfil orders, maintain good performance, and build a reliable track record on ELEXBIG.

The hold window exists to provide protection against returns, disputes, and chargebacks.
Still Need Help?

Our Vendor 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]