Small change to hold times

[Former_Member]

Hi all,

As of today, when sellers sign up for direct checkout and add a bank account for the first time, or when a seller changes their bank account, the hold of ten business days has been reduced to just five!

This might not affect many of you, but since you are so helpful for other sellers in this team and in the Forums, I wanted to make sure that you're aware.

The change is not retroactive, so if you are currently in the ten day hold right now, you won't see it automatically reduce to five. If you email us we can take care of that for you. :)

Let us know if you have any questions!

[heartsabustin]

Thank you! :D

[GizmoandHooHa]

Good news -- DC just keeps getting better!

[ShopDeatsGifts]

Oh darn! I just changed my bank account on both of my shops. Waiting 10 days on this one, then just did the change for my other shop on Friday.

Good to hear about the change though! It's a tough wait.

[Former_Member]

aargh! i just signed up for dc last week, and got the 10 day hold. it looks like they are not going to give me 5 days since the "money will be available for deposit" is still showing as the 27th....aargh! so far, since I signed up, all my buyers are using dc, even returning customers...I am not so patiently waiting...while my money is sitting in etsy's bank. at least they could have extended the 5 day hold to cover people waiting in limbo like me! :( why not?

[Former_Member]

by the way...i did email support, hopefully they can adjust?

[Former_Member]

Admin, Who can I email? I tried support but they have not gotten back to me, and looks like I still have the ten day hold.
thanks

[OutspokenFiberArts]

LaurelCanyonBeads, the very first post says the change is NOT retroactive.

[Former_Member]

yes, not automatically, but at the bottom Nicole says ... "If you email us we can take care of that for you. :)"

[Former_Member]

to update anyone who is interested...etsy finally got back to me via email and lowered my 10 day hold...to 6 days. yay!
so, this morning, in my payment account, it said funds were available to deposit...so I clicked on the "schedule earlier deposit"
and now, what?
Does anyone have any idea how long before the money actually appears in my bank account?
When etsy "tested" my account with the one cent deposit, it was same-day, so I know it CAN happen the same day, but will it? Or is there another hold?
anyone?

[PinchtheMuse]

They usually do the funds release in the afternoon. I get an email usually between 4-6pm eastern that Etsy has initiated the deposit.

After that, the time frame has more to do with your bank. My bank is one that takes longer...it can be up to 4 days (on a rare occasion 5 days) before I see it hit my bank account.

[Former_Member]

oh boy! what a production... thanks for letting me know, i guess i wont hold my breath! :)

[ColorMyWorldCrochet]

laurelcanyonbeads - My bank (credit union) only takes 2 business days to receive the funds.

[AtHomeWithLolly]

Wonderful news...so far Direct check out has provided me with 14 sales I might not have otherwise had! Smooth transactions, even with one refund, it all went through like a breeze!