Do I need to pay a deposit after joining Shopee? What are the fees?

Shopee may not be familiar to those who are not engaged in cross-border e-commerce, but for merchants who want to occupy overseas markets, it is a product worthy of attention, so many people want to settle in. So, is a deposit required after settling in Shopee?

Do I need to pay a deposit after joining Shopee?

There is no charge to open a store on the Shopee e-commerce platform. The platform does not charge a deposit or security deposit, but you will need to pay the platform a commission for the sale of goods three months after opening the store. The commission is calculated based on the store level. It is basically very simple to open a Shopee store. Basically, as long as there is no problem with the information, it will be 100% approved, so you don't have to waste money looking for an online store to open a store on your behalf.

However, if you submit your application through the cooperation channel of the investment manager or through the green channel, you can basically open a store within 5-7 working days. Of course, it will sometimes be affected by the number of sellers who apply, but the fluctuation will not be too large. If a first-level store generates more than or equal to $1 million in merchandise revenue, the platform will charge a 3% commission; if a second-level store generates more than or equal to $500,000 in merchandise revenue, the platform will charge a 4% commission; if a third-level store generates less than $500,000 in merchandise revenue, the platform will charge a 5% commission.

What are the fees?

1. Commission: In the fourth month, a commission of 5%-6% of the transaction amount will be charged.

2. Transaction fee. This part is actually the fee that needs to be paid to the transaction clearing service provider. Before 2019, this part of the fee has been borne by Shopee, but starting from January 2019, this part needs to be borne by the seller. The transaction fee is charged at 2%; this fee is independent of the platform commission.

3. Withdrawal fee. For cross-border online stores, you can withdraw money to the third-party payment platform registered with your personal information. You do not need a foreign currency card. The third-party payment platform is available on the backend of Shopee’s official website. For example, Pingpong offers a fee-free limit of 30,000 USD for novices. If the amount exceeds 30,000 USD, it will be calculated at 0.6%.

4. Freight forwarding fee. When the goods arrive at the transit warehouse, the freight forwarder needs to repack and replace the international logistics label, which costs 3 yuan per order.

Small and medium-sized sellers can still gain a foothold by registering on Shopee. If sellers have language barriers, they can choose to open a Taiwan site, where they can face simple and complex customer conversions without any pressure, just like opening a Taobao store.