mjallday
commented
10 years ago To give you some background on why Balanced takes fees from the bank account instead of the escrow:
The escrow is reserved for your customers. This is not the marketplace's revenue, it is money that is earmarked for paying out to your merchants and to the marketplace as revenue once the transaction is complete.
Because Balanced does not know how much of this money is earmarked for the marketplace we cannot draw from this source of funds.
I agree tho, that the marketplace should be able to move funds into a dedicated account within Balanced where funds can be drawn from however. We have an existing issue which when complete will allow you to do this. Have a look at #531. I'm going to close this one as a duplicate of that but we've noted this, it will happen in the future.
We recently learned that the transactions fees are been deducted from our marketplace's Bank Account every day instead of our escrow on Balanced.
To us (Neighbor.ly) this is very strange, we thought Balanced would deduct the fees from our Balanced account, not the Bank Account. Since we are a Crowdfunding platform we receive the money into Balanced account and we do not withdraw to our Bank Account, we keep there to payout the project owner.
We really need a feature that would allow us to choose the source to deduct the fees, it could be from our Balanced escrow or our marketplace's Bank Account.