What is Negative Account Balance?
A Negative Account Balance occurs when a seller owes money
to noon. This happens when the funds from sales (after deducting returns) are
less than the fees owed to noon. Sellers will be notified of a negative account
balance through an email from noon. Additionally, this information can be
accessed in the Seller Lab under Payments & Fees > Statements &
Invoices.
What must Sellers do in case of a Negative Account Balance?
Sellers must take immediate action to clear any negative account balance within not more than 30 days of the date on which the account balance turned negative. Sellers must transfer the requisite amount into noon’s bank account, details of which are mentioned below.
Noon UAE Bank Details
Beneficiary Name : NOON E COMMERCE OWNED BY NOON AD HOLDINGS ONE PERSON Company LCC
IBAN : AE700920000040000000279
Account Number : 40000000279
Bank Name : GULF INTERNATIONAL BRANCH
Swift Code : GULFAEAA
Noon KSA Bank Details
Beneficiary Name : NOON E COMMERCE SOLUTIONS SINGLE PERSON LLC
IBAN : SA4645000000003667722002
Account Number : 003667722002
Bank Name : The Saudi British Bank
Swift Code : SABBSARI
Noon Egypt Bank Details
Account Name : NOON E COMMERCE
Account Number : 59000003707
IBAN : EG250046000300000059000003707
Bank Name : Mashreq Bank
Swift Code : MSHQEGCAXXX
Penal actions
Failure to clear any negative account balance within the timelines mentioned above will result in appropriate penal actions against the Seller including but not limited to inventory confiscation, pursuing legal proceedings wherein all recovery related expenses borne by noon will also be charged to the Seller, levying appropriate financial penalties among other penal actions.
That's It!
Got any questions?
Drop us an email on seller@noon.com
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