Terms and Conditions for Early Release of Funds
1- Early Release of Funds
Mercado Pago may offer the User an early release of the availability of the Funds credited to the User's Account, before the regular timeframes established by Mercado Pago for such purpose, by requesting the User an early release of Funds whose acceptance will be subject to Mercado Pago's sole discretion (the "Early Release of Funds"). The Early Release of Funds is subject to the provisions of Mercado Pago's Terms and Conditions of Use, except for those matters specifically regulated herein. Mercado Pago will define, based on its risk and commercial policies and user protection programs, the amounts that the User may release, reflecting them in the User's Account.
2- Request for Early Release of Funds
When Mercado Pago offers the User an amount in their Account that they may release, the User may request Mercado Pago the Early Release of Funds through such account. Mercado Pago may deny such request, at any time and at its sole discretion, without the need for any justification.
Mercado Pago will inform the User: (i) the amount available to be early released at that time (the "Released Funds"); and (ii) the cost of the Released Funds requested by the User. Furthermore, at its sole discretion, Mercado Pago may offer the User the option to keep the released funds (the "Released Funds") in the User's Account, or to transfer them automatically to a bank account indicated by the User. In the latter case, the Released Funds will be transferred to such bank account on the bank business day immediately following the request for the Released Funds. Such timeframe may be extended up to 48 hours in exceptional cases in which it would not have been possible to make the transfer within the original timeframe. If the User chooses to keep the Released Funds in the User's Account in order to transfer them later to a bank account, this transfer will be made within the timeframes set forth in Mercado Pago Terms and Conditions of Use.
3- Cost of the Early Release of Funds
As consideration for an Early Release of Funds, the User shall pay Mercado Pago an amount equivalent to a fixed percentage of the Released Funds plus the corresponding taxes. Such costs will be informed prior to the Early Release of Funds, and will be deducted from the Released Funds, and the corresponding net amount of the Released Funds will be credited to the User.
4- Cancellations, annulments, repudiated charges, reversals, and chargebacks
Should the Released Funds relate to a transaction that is cancelled, annulled, reversed and/or the subject of chargebacks after the Released Funds have been released, Mercado Pago shall apply its Seller Protection Program and Protected Purchase Program, and any other program that Mercado Pago applies regarding mediation cases. The User expressly authorizes Mercado Pago to deduct, debit and/or compensate, without prior notification, from the their Mercado Pago Account, the available funds necessary to cover such cancellation, annulment, reversal and/or chargeback and, if it does not have available funds, to debit or offset them from any other future income of available funds to their account, without prejudice to any other rights of Mercado Pago as provided for in the Terms and Conditions of Use of Mercado Pago.
5- Scheduled Early Release of Funds
Mercado Pago may offer the User the possibility of scheduling each Early Release of Funds so that it is automatically credited on the date selected by the Seller ("Scheduled Early Release of Funds"). The User may select the option of crediting the funds from the Scheduled Early Release of Funds to their account on a specific date on a one-time basis, or periodically, on a daily, weekly or monthly basis.
Mercado Pago will inform the User through the different online channels available: (i) the available money on which the User may request a Scheduled Early Release of Funds; and (ii) the cost of such Scheduled Early Release of Funds.
In the event of an increase in the cost of the Early Release of Funds, Mercado Pago will request the User's approval of the new cost in order to continue.
All of the preceding clauses shall apply to each Scheduled Early Release of Funds.
Mercado Pago will notify the User when each Scheduled Early Release of Funds becomes effective and the funds are credited to the User's account. If there is no money pending release on the date established for the Scheduled Early Release of Funds, Mercado Pago will notify the User and the Early Release of Funds will not be effective.