Get your money from DC orders before you ship AND expedited deposits!
(Get your money from DC orders before you ship!)
This discussion is public.
We've been working with our bank to get our funds to you faster. Now, when a deposit is initiated (either automatically on Monday, or when you request an earlier one), the money will hit your bank account the very next business day. Some banks still might take a few days to clear, but many of you will see the money available in your account on Tuesday from your Monday "pay day". Just one more improvement before the holidays!
Just wanted to update everyone to let you know that money from direct checkout sales for eligible sellers will now be available for deposit the very next day after the order is placed! Any requirement to ship the item before funds become available has been officially removed. This change has been a long time coming, and was the most requested change to direct checkout--especially from our custom sellers. Now eligible sellers will have quick access to their money regardless of the processing time for their orders.
How do you know if you are eligible?
Your first sale is more than 90 days ago, regardless of payment method. That’s it! You should also see a notice in your account on your Sold Orders and Listing page letting you know about this change.
How does this affect my existing direct checkout orders?
This change is not retroactive, so orders received before this change was made still have the shipping requirement. Any NEW orders you receive will go into one comprehensive section in your Shop Payment Account. No more “Open Orders” and “Completed Orders” sections. This will be a little confusing at first if you have multiple open orders now, and start receiving orders without the shipping requirement. Once you ship your existing orders, this will resolve itself. If you need any clarification on which orders are eligible, or have any questions about direct checkout, you can click the “Need Some Help?” link in your Shop Payment Account.
When do I get deposits?
When an order comes in, you’ll see that the funds will be available the very next day. Deposits are still automatically sent on Monday unless you schedule an earlier deposit from your Shop Payment Account.
How do holds work for newer sellers?
If your first sale (with any payment method) is less than 90 days ago, or you haven’t yet made that first sale, you must mark the order as shipped to receive a deposit for the order, or wait 3 days for the money to be available, whichever is longer. Once you pass the 90 day mark, you’ll be eligible to receive deposits the very next day after an order comes in, regardless of shipped status.
What is the deal with the one time hold when you sign up?
When anyone signs up for direct checkout, regardless of selling status, there is a one- time hold of 5 days before you can receive a deposit for direct checkout sales. This is done to ensure the right bank account is being used and that your account hasn’t been taken over.
What’s direct checkout?
Direct checkout is a payment method that sellers can enable in their Etsy shops to accept credit cards and Etsy Gift Cards. You can add it as an option in addition to PayPal to give more options to your buyers. After offering this option since June, we’ve noticed buyers are 16% more likely to complete the checkout process and actually buy an item from a shop that has direct checkout enabled. It’s only available to US sellers right now (international folks can sign up next year). Go to your Shop Payment Account to learn more and sign up. www.etsy.com/your/account/payments
We’ve worked hard to make direct checkout quick, easy, and enjoyable for buyers, and we’ve been busy optimizing the seller experience as well. With the holidays getting closer every day, we want to make it as simple as possible for your customers shopping for their friends and family, and simple and easy to use for you, too!
Want to discuss? www.etsy.com/teams/7718/site-help/discuss/11216547/
Posted at 10:06 am Nov 8, 2012 EST