As an avid user of Vinted, the popular online marketplace for buying and selling pre-loved clothing, one of the most important aspects to consider is the withdrawal time. After all, we all want to know how long it takes to get our hard-earned money into our bank accounts after getting a sale and sending your item. Let’s take a look at the Vinted withdrawal time.
What is Vinted?
Vinted is a marketplace for buying and selling unwanted items.
Vinted have three main aims:
- Sell simply – make money by easily listing your preloved items – a great way to make money on your phone or to make money with your iPad.
- Shop smarter – find amazing brands that you love at a fraction of the RRP.
- Join the community – join in the Vinted forums or customise your feed for the products that you really want.
The Vinted app is available both on iOS and Android.
Be sure to check out this post to see how to sell on Vinted without a printer.
How does withdrawing earnings from Vinted work?
When it comes to withdrawing your earnings from Vinted, the process is fairly straightforward.
Once you have made a sale then the sale amount will be placed into your ‘pending’ balance.
Then when the buyer has confirmed the receipt of the item, the funds will be credited to your Vinted account as an available balance.
You can then either withdraw the money or spend it on Vinted.
To initiate the withdrawal, simply navigate to the “Earnings” section of your Vinted profile, and select the withdraw button.
[lasso ref=”vinted-mailing-bags” id=”42060″ link_id=”1466″]Vinted Withdrawal Methods
If you don’t want to spend your balance on the Vinted app then you can withdraw your Vinted earnings into a UK bank account, into GBP.
You will need to add your withdrawal details.
To do this:
- Press on your profile icon
- Select Settings
- Choose Payments
- Press Add bank account under Withdrawal options to add your bank account information
- Fill in the information and save it. The details will be there for your future withdrawals.
We really like using Monzo because we can split our earnings across different savings pots.
You might also like to read:
- Selling on Vinted
- Buying on Vinted
- My Vinted Wardrobe Spotlight experience
- Common Vinted scams
- How does Vinted make money?
- How do you get paid on Vinted?
- Do you have to pay tax on Vinted sales?
- Vinted vs Depop
- How to sell on Vinted without a printer
- Vinted username ideas
- What to do when Vinted won’t let me buy
Vinted Withdrawal Time
After making your sale and shipping it, we understand that you want to get your hands on your money as fast as possible.
It can take up to 5 working days for a withdrawal to arrive in your bank account (i.e. Monday – Friday, not including weekends and bank holidays).
Tips to speed up the Vinted withdrawal time
If you’re looking to speed up the Vinted withdrawal process, there are a few tips you can follow:
- Request withdrawals during business days: To ensure prompt processing, make sure to initiate your withdrawal requests during Vinted’s business hours. This will help avoid any potential delays caused by weekends or bank holidays.
- Keep your account information up to date: To facilitate a smooth withdrawal process, double-check that your bank account details are accurate and up to date. Any errors or outdated information may result in delays or failed transactions.
- Communicate with the buyer: Once a sale is made, it’s essential to maintain open communication with the buyer. Promptly respond to any inquiries or concerns they may have to ensure a smooth transaction process, which can ultimately contribute to a faster withdrawal time.
Common issues with Vinted withdrawal and how to resolve them
While Vinted strives to provide a seamless withdrawal experience, there are a few common issues that users may encounter. Let’s explore these issues and discuss possible solutions:
- Delayed withdrawals: If your withdrawal is taking longer than expected, it’s crucial to first check the estimated withdrawal time for your chosen payment method. If the withdrawal time has already surpassed the estimated timeframe, reach out to Vinted’s customer support for assistance. They will be able to investigate the issue and provide you with an update.
- Failed withdrawals: In some cases, withdrawals may fail due to incorrect bank account details or other technical issues. If you encounter a failed withdrawal, double-check your account information and ensure that it is accurate. If the issue persists, contact Vinted’s customer support for further assistance. If the bank can’t verify your account then they will most likely return the money to Vinted and it can take up to 14 days to appear back in your Vinted balance.
- You haven’t confirmed your identity: Vinted’s payment partner, MangoPay, will require some customers to complete ‘Know Your Customer’. Know Your Customer’ is a member identity verification procedure. As a regulated electronic money institution, MangoPay is required by law to apply it to ensure that its services meet the anti-money laundering and counter-terrorist financing requirements. The purpose of the KYC procedure is to identify members and help ensure that they’re acting fairly and legally. That is, they’re not engaging in any fraudulent or illicit activities. This is a quick process and you might be familiar with it from matched betting or completing free money offers.
Alternatives to Vinted for faster withdrawal times
If you find that the withdrawal times on Vinted do not meet your expectations, there are alternative online marketplaces that offer faster withdrawal options. Some popular alternatives include:
- eBay: Known for its wide range of products and large user base, eBay offers various payment methods and generally provides faster withdrawal times compared to Vinted.
- Depop: With a focus on fashion and unique vintage items, Depop is another platform worth considering. They offer multiple payment options and strive to provide a quick and efficient withdrawal process.
You might want to consider these other Vinted alternatives.
How to contact Vinted
There are many reasons why you might need to get in touch with Vinted’s support team. Perhaps you’ve fallen for a common Vinted scam or you have a Vinted item not as described.
If you are looking for how to get in touch with Vinted then look no further than our useful article: how to contact Vinted.
Frequently asked questions about Vinted withdrawal time
Q: What is the minimum amount that I can withdraw from Vinted?
A: The minimum amount that you can withdraw from Vinted is £0.10.
Q: Are there any fees associated with Vinted withdrawals?
A: No, Vinted is free for sellers – there are no selling fees or fees to withdraw your earnings.
Q: Can I cancel a withdrawal request on Vinted?
A: Once a withdrawal request is submitted, it cannot be canceled. Make sure to carefully review your withdrawal details before confirming the withdrawal.
Q: Does Vinted offer instant withdrawals?
A: Vinted does not currently offer instant withdrawals. The withdrawal time can vary depending on factors such as payment method and location.
Q: Can I withdraw funds from Vinted to a credit card or Paypal?
A: Vinted does not support direct withdrawals to credit cards or Paypal. You can only withdraw to a UK bank account.
Q: Can I choose how much to withdraw from my Vinted balance?
A: No, you can only withdraw your entire Vinted balance.
Conclusion
Understanding the Vinted withdrawal time is essential for anyone using the platform to sell their pre-loved clothing. By familiarizing yourself with the withdrawal process, considering the factors that affect the withdrawal time, and following the tips provided, you can ensure a smooth and timely withdrawal experience. Happy selling!
