Your browser does not have cookies enabled. SafeTrader may not function properly without cookies turned on.
Glossary

Bank Transfer - This is a service provided by your bank. This allows you to transfer funds into another account. To transfer funds to the SafeTrader bank account you will need to contact your bank with our bank account details.


Bill Payment - This is a service provided by your bank. You can set SafeTrader up as a Biller and then pay SafeTrader using Internet or phone banking. To set SafeTrader up as a biller you will need to contact your bank. Read the payment options for more information on setting SafeTrader up as a Biller on your account.


Escrow Service - SafeTrader is an Internet escrow service. "Escrow" describes the service provided by SafeTrader. An escrow service (or provider) is a trusted third party that holds money on behalf of the buyer and seller.


Inspection Period - The inspection period is the length of time that the buyer has to inspect the goods, once they have been received and signed for. If the goods are returned to the seller, the seller will be given the same length of time (the agreed inspection period) to inspect the goods and notify SafeTrader whether they arrived safely.


Money Order - This is a service provided by New Zealand Post. This allows you to send funds safely in the post. You can go to your local postal outlet and pay by cash or EFTPOS. They will then issue you with a Money Order Certificate which you send to SafeTrader. SafeTrader will take this to the Post Shop and the money will be deposited directly into our trust account - funds clear immediately. Money orders are one of the available payment options.


Purchase price - This is the price agreed by the buyer and seller, exclusive of any postage costs. If buying from an Internet auction, the purchase price is the amount of the final bid.


Track-and-trace Number - When you send a parcel with a SafeTrader approved courier you will be given a track-and-trace number. This is a unique number that is used to track your package. SafeTrader requires the seller to enter this number and we use it to trace the package. This way we know when the item is delivered and signed for by the buyer.


Trust Account - A trust account is a special account that is used to hold other people's money. A trust account is secure from the administrators of the account (SafeTrader employees), as well as creditors or liquidators - ensuring the money in the trust account is secure if the company is forced into receivership. View the Deed of Declaration of Trust that is held by our bank.