Trademe drops success fees but adds payment fees

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timmmay

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#324139 5-Mar-2026 07:30

It seems TradeMe is removing success fees, which I guess is because Facebook Marketplace has largely replaced them due to zero fees. Trademe have also taken away the ability to pay with bank transactions, now you have to pay with Ping or I guess cash is still an option. Ping attracts a 2.19% fee plus a tiered fee per transaction.

If I have my maths right, a $50 sale the fees drop from $3.95 to $2.10 and a $500 sale has fees drop from $39.5 to $15.95. So fees reduce by about 50%, and they make their marketplace safer. Noting that the ping fees are probably paid buy the buyer, so it reduces seller fees and spreads the cost to both parties.

I think that's a good move, increases trust, and the pricing seems more reasonable to me.

From Trademe Email

We’re officially removing the 7.9% Success Fee for casual listings. Whether you’re selling a designer dress or the kitchen sink, more of the profit stays with you. This means that any listings (new or relists) made on or after 10 March will no longer attract a Success Fee.

While most fraudulent activities on Trade Me are resolved quickly, 90% of the scams that we couldn't help our members with last year involved bank transfers. Since we have zero visibility of those transactions, we can’t protect you or step in if something goes wrong.

To keep our community safe, we are removing bank transfer as a payment option. Going forward we will offer Ping, as well as Afterpay or cash. When you pay via Ping or Afterpay it’s instant, secure and we’ve got your back with Buyer Protection. Ping carries a 2.19% transaction fee to keep your money safe, and will be available on every listing.

We’re doubling down on our commitment to keeping your hard earned money safe by increasing our Buyer Protection guarantee from $2,500 to $5,000.

To keep the platform running and provide local support, we’re introducing a tiered Service Fee on casual Ping purchases (excluding shipping).

Service Fee tiers:

$0.00 - $20.00 = Free
$20.01 - $100.00 = $0.99
$100.01 - $250.00 = $1.99
$250.01 + = $4.99

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Max
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#3466902 5-Mar-2026 07:34

Finally a step in the right direction.

I do however wish there was more competition.

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EviLClouD

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#3466908 5-Mar-2026 07:59

I don’t understand how cash is more ‘secure’ than bank transfer?

According to their website the service fee is paid for by the buyer.

So for the seller the $50 item is $1.095 fee and $500 is $10.95 fee.

I assume the fee is only payable if Ping is used too

KiwiSurfer

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#3466910 5-Mar-2026 08:13

I imagine many sellers would just list 'Cash' and offer bank transfer via email when the auction has finished. Trade Me has no way to police this...

MaxineN

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#3466912 5-Mar-2026 08:18

KiwiSurfer:

I imagine many sellers would just list 'Cash' and offer bank transfer via email when the auction has finished. Trade Me has no way to police this...

That's why I said it was a step in the right direction, but it's not going to solve it entirely.

Seen this behavior already and I imagine TradeMe's argument is that if you're dealing with cash you're seeing the seller in person, but of course that's not exactly guaranteed.

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mudguard

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#3466913 5-Mar-2026 08:19

EviLClouD:

I don’t understand how cash is more ‘secure’ than bank transfer?

Presumably because you are there in person handing it over and can see exactly what you're getting vs putting the money in someone's account and hoping they send it?

Benoire

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#3466914 5-Mar-2026 08:19

KiwiSurfer:

I imagine many sellers would just list 'Cash' and offer bank transfer via email when the auction has finished. Trade Me has no way to police this...

They haven't yet killed the payment instructions section of your account so unless they stop sending that out then that can continue to contain bank details as an automated request.

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eracode

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#3466917 5-Mar-2026 08:25

Benoire:

They haven't yet killed the payment instructions section of your account so unless they stop sending that out then that can continue to contain bank details as an automated request.

New scheme starts on 10 March.

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Benoire

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#3466918 5-Mar-2026 08:31

eracode:

New scheme starts on 10 March.

Heh - perhaps I should read ALL of the release before I look in to things... I'll check then and see if they've removed it or are policing that part but as someone said cash/bank transfer can be done as normal but I wonder if there will be less support from Trademe?

sudo

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#3466929 5-Mar-2026 09:00

MaxineN:

Finally a step in the right direction.

I do however wish there was more competition.

Well, there's always Marketplace (the reason TM has made this move)

felixfurtak

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#3466931 5-Mar-2026 09:24

KiwiSurfer:

I imagine many sellers would just list 'Cash' and offer bank transfer via email when the auction has finished. Trade Me has no way to police this...

They can make sure that 'Cash' is only an option if 'Buyer Pick Up' option is available. Because how could you pay cash without buying in person? Put the money in an envelope and send it?

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#3466936 5-Mar-2026 09:48

KiwiSurfer:

I imagine many sellers would just list 'Cash' and offer bank transfer via email when the auction has finished. Trade Me has no way to police this...

"Ping ... will be available on every listing"

As a buyer why risk a bank transfer when you are protected for fraud when paying with Ping?

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#3466941 5-Mar-2026 10:13

Because buyer will not have that choice if the seller sets cash option?

RockCartel

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#3466943 5-Mar-2026 10:21

They way I read it the seller can't opt out of Ping, because it will be "available on every listing"

Could be wrong, but I expect that's the way it will work.

Rickles

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#3466945 5-Mar-2026 10:27

Is not the Buyer fee a bit like an auctioneers Buyer Premium ... TradeMe are 'double-dipping' fee-wise?

saf

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#3466950 5-Mar-2026 10:37

timmmay:

Noting that the ping fees are probably paid buy the buyer, so it reduces seller fees and spreads the cost to both parties.

This is an interesting point. If Ping is being enforced and is in reality the only option available (given cash would only work for pickups which would be a minority of listings), and buyers are paying a surcharge for using Ping, the Commerce Commission would likely be very interested given their stance on appropriate surcharging.

In particular:

[To surcharge appropriately you must:] provide your customers with at least one alternative payment method that does not incur a surcharge

Time will tell, but offering a single, surcharged payment method has been a clear line in the sand of non-compliance by any business.

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