You can withdraw funds from MyWallet by clicking on the Withdraw funds button, and then the money would be deposited in your UAE bank account on file.

As a Souq user you can transact in a safe, secure and transparent environment. You can trade without any worries with complete peace of mind.

Souq escrow service offers two safe ways to complete the purchase of an auction item:

It’s really easy, fast, private and secure!!

1) Buyer Bids or Buy's an item on souq
Both parties agree to terms of the transaction, which includes a description of the merchandise, sale price, and any shipping information.

2) Buyer Pays via souq.com (MyWallet)
The Buyer pays for he item from his (MyWallet). (MyWallet) could be topped up via selecting checks, bank transfer, cashU prepaid card or credit card online. Souq.com verifies the payment. Processing time varies by payment method.

3) Seller Ships Merchandise
Upon payment verification, souq.com dispatches the order and the item is pickuped from the Seller , delivered to the buyer. souq.com verifies that the Buyer receives the shipment.

4) Buyer Accepts the Merchandise
The Buyer has 24 hours to accept or reject the merchandise if the item is defected (does not match the description of the auction).

5) souq.com Pays the Seller
Souq.com releases the funds to the Seller's (MyWallet) once the buyer rates the seller positively, or after 72 hrs from delivery. The transaction is complete and the seller can withdraw the funds from (MyWallet) to any Bank.

What are the benefits?
souq.com, acts as a secure third party to protect both the Buyer and Seller.

How Buyers are protected ?
souq.com tracks the shipped merchandise and verifies it was delivered.
The Seller isn't paid until the Buyer accepts the merchandise, or the period expires.

How Sellers are protected ?
souq.com confirms when the Buyer receives merchandise.
The Seller is authorized to ship only after souq.com verifies the payment.

In case of COD, Souq releases the funds to the seller's MyWallet within 24 hours of receipt of funds from the Delivery Partner provided that the buyer has rated the seller positively. or 7 days after receipt of funds from the delivery partner if there is no feedback given by the buyer. In the case of e-Payment, funds are released into the seller's MyWallet immediately after delivery if positive feedback is given or up to 7 days after delivery if feedback is not given by the buyer.

Reserve price is the minimum price that you are willing to accept for the item. You set this amount before the auction starts and is never disclosed. To win a reserve price auction, the buyer has to bid higher than the reserve price that you have set.

If you want to keep track of an item simply click on any item page and click on the link [Add To Your Watch List]. Items you are watching will appear on your control panel/Buying or selling/Item Watch section. You will also receive an item watch email with a daily list of bids and when the auction closes.