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Mclowd User Guide for SMSF Trustees

The Payments screen displays your Payments and Transactions and allows you to withdraw money.

Pending incoming payments will be listed.

Once a buyer has marked a service as Complete, payment can be authorised and funds will be released to the seller.

If both buyer and seller have connected their Paypal accounts to the Mclowd™Marketplace, relevant funds will be released automatically.

If the seller does not have a Paypal account set up in their profile, the Mclowd™administrator will arrange for withdrawal / transfer of the funds to the nominated bank account.

Buyers can withdraw from their account if they have excess funds that are not needed for a purchase in progress (for example, if they have received a refund or deemed a service unsatisfactory and refused to authorise payment).

 

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