Hello there - I would like to sell an electronic item on the Play.com web site. I have the pro-trader account and make the $19.99 extra fee to sell unlimited items.
If I make a sale on Play.com - a fee of 10% is charged. If I want to transfer the cash in to my bank account there is an extra charge of 5% transfer fee on the balance I choose to transfer.
So, if I listed an electronic item for $22.15 including postage and packing, after 10% commission fee what would the balance in my play.com account be?
And if I wanted to transfer my play.com - after 5% commission fee - what would the funds be in my bank account?
From my calculations, I get $20.00 after the 10% commission and 5% fee. Is this correct? if not, please provide me a formula to use.
I'm sorry I am not familiar with Play.com, I don't see how the 19.99 extra fee is related to your question.
Nevertheless if you sell something for $22.15 the 10% commission would be $2.22 (assuming they round up from $2.215). These would leave you with $19.97. To transfer this to your bank the 5% commission would be $1.00 leaving you with $18.97 in your bank.
If you want a formula, just take the amount you sell something for and divide it by 1.155 to see how much is left in your bank account. If if you want a certain amount in your bank account, multiply it by 1.155 to see how much you have to sell.
For example 1.155*20=23.10 so you need to see something for $23.10 to end up with a net of $20 in your bank.