Security hold balance will help with the following:
- Improved customer service so that refunds can be processed by vendors in a timely manner. There have been occasions where vendors have been unable to process refunds for customers due to insufficient account funds, resulting in a negative experience for customers.
- Remove the extra work required by vendors to contact WeTeachMe for fund deposits, should the above scenario occur.
- Increased protection from fraudulent activity, and to minimise secondary impact to all vendors and customers if this were to ever occur.
- WeTeachMe reserves the right to set the hold balance to the price of a vendor's maximum class price so that full refunds are possible if a vendor receives a refund request.
- Vendors will see the hold balance on their account dashboard.
- In the event of account cancellation, the hold balance will be made available for withdrawal once WeTeachMe deems there to be no outstanding course or gift vouchers due to customers. Account closure requests must be sent by the main account holder to firstname.lastname@example.org.
When will this take effect?
- Security hold balance: 1 Mar 2018.