First Sale questions

[Former_Member]

So I have verified my account today. My first sale is not shipped yet. This is what Etsy says 'You can begin depositing funds on May 28, 2012.
For your security, we apply this one-time 10-day delay if your bank account on record has recently changed.

What does this mean? I must wait ten more days after shipping to receive the money in my checking account? I thought I had already waited ten days for the small deposits to get into my account.

[thesilvertwigshop]

The ten day wait is from when you sign up for DC. You can start transferring funds from your payment account on May 28th:) The deposit to your bank account is probably already auto scheduled by etsy since the date falls in line with their weekly deposits. Otherwise you could schedule an earlier one yourself.

[HotelMartindale]

Cynthia; Everyone has to wait the 10 day period. Once you actually ship the item and mark it as shipped, it takes Etsy 3 days to deposit the money from that sale to your account. Than, the money will transfer to your account on the following Monday. You can always schedule an early deposit by just clicking the schedule key and it's done.

[Former_Member]

Thanx. If I ship by the USPO do I have to have a method of tracking the delivery so Etsy knows I have actually shipped?

I have been using Paypal shipping for printing postage labels. I don't have a lot orders right now but really don't want to take just my direct checkout orders to the Post office. What I am trying to figure out is how does Etsy get notice that I actually shipped?

[OriginalsbyLauren]

Cynthia, you can just marked it shipped when you ship it, as long as the tracking is in paypal, you have it if you need it.

I usually add the tracking number and send the etsy email thanking them at the same time.

If you mark it shipped today and your 10 days have passed, you will get a deposit tommorrow. Etsy deposits late in the day, and my bank shows the deposit a day and a half later, usually. each bank is different

[OriginalsbyLauren]

the 3 day wait is from the day of the sale as long as you ship within that 3 day period.

deposits are automatic on mondays (tuesday this week) but you can request a deposit anytime if your money is available.

[Former_Member]

Ok I understand the issue of the three day wait and so on. But as far as marking it shipped in Paypal? The order is paid thru Direct Checkout and therefore it is not in Paypal and I cannot mark it shipped and track it in Paypal.

[TreasuresOfGrace]

You can still ship through PayPal and will receive the same discount as before, by using Multi-order Shipping (In Overview, to the right under My Account Tools). Or got to paypal.com/shipnow

[Former_Member]

I've made my first 2 DC sales, waited the 10 day limit and etsy has told me my funds will be available today, May 29th. It was a balance of $79.04, but I have not seen it in my checking account today. Is this because after etsy makes the deposit into your checking account your bank THEN has to wait 2 to 3 days for the transfer to clear even after the deposit? Just a little worried, but I'm sure its fine. If anyone knows about this please let me know!
Thanks,
Samantha

[OriginalsbyLauren]

it varies from bank to bank. My monday afternoon deposits usually are released by my bank on wednesday morning.

since etsy is not a bank, the money isn't released by your bank the same day like a direct deposit paycheck.

[Former_Member]

Hi Cynthia!

If you have been just rewarded Etsy's DC - you must wait 10 days so that they can verify your bank account. Once verified - no other wait.

Once a transaction is completed; and once you ship your product - you can get paid from Etsy in 3 days. Normally, Etsy does deposits on Mondays - but you CAN request an earlier deposit. (See your Shop Payment Account).

Any delay would be pending on your own bank account - mine takes 3 days.

Once you get the hang of it; it's really very simple.
Best to you.

:) Sofia

[Former_Member]

As annoying as it is, everonne has to wait

[OriginalsbyLauren]

I actually like the weekly deposit and very seldom use the option to get an earlier deposit. It gives me the week's money in a lump sum and I seem to spend less money than I did with my paypal debit card.

I still have enough paypal customers to cover supplies . It took a little getting used to , but I don't mind the wait .

[TreasuresOfGrace]

I don't mind the wait either. I always left my money in PayPal until after the customer received the item and the return time has expired. That way I had the money available if I needed to refund, but so far never needed to use it.