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How do I withdraw funds?
How do I withdraw funds?
Weekly batched processing of withdrawal requests to start.
Written by Michael Bramlage
Updated over a week ago

What are the requirements to withdraw funds?

There are three steps that each collector must go through in order to be eligible to withdraw funds from their Cash Wallet.

  1. Account Age: the join date on your account must be 30 days or more in the past. In simple terms, if you created your account yesterday, you will need to wait 29 more days to be eligible to withdraw.

  2. Identity Verification: you will need to verify your identity with our trusted identity verification partner, Passbase. This involves performing a liveness test, which requires you to scan your face with the camera on your phone or laptop, and producing a government issued identification card, such as a driver's license or passport, in order to match the two. All collectors must be aged 18 or older in order to pass Identity Verification.

  3. Sufficient Sales Proceeds: once your account is aged 30 days or more and you have verified your identity, you must have sufficient Sales Proceeds to request withdraw. The current minimum requirement to withdraw is $100. In order to check your balance of Sales Proceeds, please visit the Quidd app on iOS or Android, go to your Profile, and tap your Cash Wallet. From there, you will see both a breakdown of your spending power and your withdrawal eligibility status.

Quidd allows you to try-before-you-buy. Funds deposited via In-App Purchase on iOS or Android, or Stripe on the web, are also eligible for withdrawal (in addition to Sales Proceeds) if the specific deposit transactions were made 60 days or more in the past.

There are two other important notes.

First, Store Credits are ineligible for withdrawal.

Second, the processing of all eligible withdrawal requests includes a review of the requester's past transaction history. If fraudulent transactions are detected, such as those with obvious signs of wash trading where less valuable items are bought and sold for outsized clearing prices, the request will be rendered ineligible.

Such measures exist in order to maintain the integrity of Quidd's marketplace.

Where do I initiate the withdrawal process?

It's all built into the apps on iOS and Android.

You can also withdraw on the Quidd website.

Simply visit your Profile, tap Cash Wallet, and you'll see:

  • Spending Power Breakdown

  • Deposit Workflow

  • Transaction History

  • Withdrawal Workflow

Underneath the phrase "Request Withdrawal", you'll see your status and if you're ready to initiate the withdrawal process. If you are eligible and ready, simply tap "Request Withdrawal" to get started.

Note: you will want to get your PayPal account ready before you start. The last step before making the withdrawal request requires your PayPal information.

Are there withdrawal minimums?

In terms of withdrawal amounts, a minimum of $100 in Sales Proceeds is required to withdraw. If a collector attempts to withdraw deposit transactions that are aged 60 days or more, he/she/they must hold $100 or more in deposited funds.

In terms of withdrawal frequency, collectors are encouraged to seek withdrawals no more than once per month. However, Quidd currently processes withdrawals weekly and does not impose frequency caps. In other words, collectors are free to withdraw weekly if they meet eligibility requirements, but are encouraged to do so no more than monthly.

Is there a withdrawal limit?

We currently limit the amount per 4 withdrawal periods (weeks) to $2500. Once you hit this amount you will have to wait 30 days to request another withdrawal.

The max amount available to withdraw in any week is $2500, minus the amount withdrawn in the previous 3 withdrawal periods.

For example you could withdraw $625 per week without restriction. Or you could do one $2500 withdrawal and then wait for the following 4th withdrawal period (week) to withdraw again.

When are withdrawals processed?

Currently, withdrawal requests are processed each Friday morning ET.

The deadline to submit withdrawal requests from inside the Quidd app on iOS and Android is 11:59pm ET Thursday nights. If withdrawal requests are sent after that time, they will be processed as part of the following week's batch.

How are fees incurred?

There are two fees for each withdrawal.

First, Quidd imposes a 2% service fee in order to fund the staff required to process withdrawal requests, which includes fraudulent transaction monitoring. This will reduce a withdrawal request of $100 to $98.

Second, PayPal imposes fees on a per transaction basis. PayPal will apply this fee after Quidd initiates the transfer of funds from Quidd's account to your PayPal account.

How am I notified of my status?

Each collector's withdrawal eligibility and status is displayed on their Profile in the Quidd app on iOS and Android.

Simply visit your Profile and tap Cash Wallet. From there you can see if your Account Age has reached the minimum, if you are "ID Verified" by Passbase, and if the proper funds exist in your wallet to proceed with a withdrawal.

You can then proceed with submitting your withdrawal request all from within the apps.
Note: you will be required to submit the email address that you use for PayPal, which may be different than the email address you have on file with Quidd, so please be ready with that when you initiate your withdrawal request.

Upon successful completion of the request, you will see a confirmation screen at the last step in the app.

Now, after you've requested your withdrawal, a representative from Quidd will email you, using your email address on file with Quidd, on Friday morning if your request is rejected for any reason. Over email, you may work with this representative to explain your case or correct any inaccurate information provided to us.

If approved, please expect to receive an email from PayPal notifying you of the new credit to your PayPal account.
This can be expected by early Friday evening.

If for any reason you have problems, please contact:

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