Why does it take so long to be paid????

[bowlswithholes]

I am not very happy with this shop payment system. I shipped 3 orders yesterday and I checked my shop payment account, and it says I am only going to be paid for one! The other ones apparently not until next monday! This is a hardship, to have to come up with the shipping costs upfront, and then have such a long wait for payment. I don't understand why the long wait at all.

[shabbyhome]

I too am unhappy with this new system. I want to go back and change this to recieve only PayPal. the fees are higher and the wait to get paid. Can someone please tell me how I can change and go to payment preference. I had 3 orders since April 26 and I have a 10 day hold and it is only showing 1 item to be paid, and nothing in my bank account. HELP!

[DonnaCDesigns]

Are the fees really higher? Yikes, I havent even had time to look.

[TheIDconnection]

I have 7 payments sitting and yes I've shipped 5 and NO money for me. It sounds like I may be changing back to the old way. It is a hardship for sure to not have the funds available.
Yes, does anyone know how to change back?

[JenlynnStudios]

If you want to change back to only accepting PayPal, just go to your shop settings, click shipping and payments (right below info and appearance) then click on the "Payment Methods" tab.

On this page you can de-select the direct checkout payment option.

Hope this helps! I am going to hang in there and see how things go once my bank account is verified, my customers sure seem to prefer this direct method for payment :)

[bowlswithholes]

I am disappointed that none of the leaders have responded to this. Obviously I'm not the only unhappy person with this payment method. What I did do was click on the shop payment account, and it said my money would be available on monday may 7th. I clicked below it to schedule an earlier payment date and it said it would pay it today. It just seems very unfair and a way to squeeze alot of extra money out of etsy sellers by holding on to OUR money. Who doesn't want their money ASAP!

[Former_Member]

Here is a previous response from Camila-your question /comment has been raised continuously from march till now so sometimes i think due to volume a reply isnt given right away because its been answered :)

Just found this response from admin to someone else in another thread:

"Hi Leigh Anne,
Direct checkout is definitely an option, and it is not required. For sellers who need money right away to fulfill orders, direct checkout may not be the right option at this time. Please understand that funds being held is for risk management purposes and for the overall safety of the marketplace - but this is not directed at you specifically.

We are looking at solutions for sellers to receive money sooner from orders in a way that is safe for sellers, the buyer, and Etsy, but know that in the meantime, you have the option to turn it off if it is not the right solution for you.

Thanks,
Camilla "

[CreativeJenV]

It isn't for everyone. I love it. Prevents me from spending the money!

I just do the Monday deposits. I have a nice balance of DC and paypal orders so I just use the paypal $ to pay for the shipping for the others. Right now all my orders are ready to ship. If I did a ton of custom work it probably wouldn't work.

[Former_Member]

I agree CreativeJenV! It's nice because I can schedule earlier but I'm used to the monday flow now and I have been more frugal and less likely to overspend

[millabear]

Hello,
As we've mentioned, items need to be shipped before money can be deposited. If you ship before 3 days have passed, then you do need to wait for 3 full days to pass from the date of the transaction. The reason we do this is for security purposes across the marketplace.

While we understand that this doesn't work for every seller, we are working on ways to receive earlier funds in the future. We do have many sellers who have gotten used to the sequence and have made it work, but we understand it can take some time getting used to.

Camilla

[Former_Member]

Overall, I've been really happy with it. I've found my customers are using a nice mix of Paypal and DC. Since I use pp for all my shipping, it's working out great. My 10 day waiting time has just passed (today!), so I'll be interested to see how smoothly the deposit process is.

I make a lot of books custom, and the DC system is helping me get things made faster! Nice.

[bowlswithholes]

Thanks to all of you who responded to me. I appreciate the input, and I'm glad to know its working well for some.

[LunaEssence]

I made DC sales and PayPal sales all to the same customer . The PayPal sales were the next day after the DC sales.
Hopefully I haven't lost you yet.
The Pay Pal deposit is in my bank . The DC deposit is still not there and one is scheduled at a later time today.

I don't like the scheduling at all. We are sellers that are busy and I just don't have the time to do this .

I understand you want to wait for the shipping but this is still way too slow. I am hoping that you (Etsy) is going to make improvements to this system. It is new I will give you that , so I will wait and see how things develop.

[Former_Member]

Direct checkout seems to be working just fine for us. We are getting bout 50% still with paypal which provides the daily money for shipping/ supplies/ and purchasing new inventory. The others gets deposited on Mondays and works well to pay some bills and living expenses with. I believe it has actually improved things as far as waiting for the DC money. A lilttle savings as others have said, and not available to spend everyday.

[Hendywood]

My customers are using both payment options and, as long as I know what to expect deposit-wise (which I do,) it's been working great.

[OriginalsbyLauren]

you can always request an earlier deposit once the 3 days pass

I have had dc for 3 months and once you get used to it, you won't mind the wait, at least I don't. I get enough paypal orders to cover supplies if necessary.

I used to have to transfer money from paypal to my bank to pay bills, and the wait was exactly the same amount of time for the transfer.

[HotelMartindale]

Etsy Direct checkout Fees are NOT higher than Paypal fees. Why is it that the same people are on here crying about the wait for funds. It is getting very old.

[OriginalsbyLauren]

I have to laugh too because in the forums alot of the people that several months ago were screaming about hating paypal now love it and would never sign up for DC

I don't worry about things that might go wrong until they do, makes my life less stressful :)

[gilstrapdesigns]

So far we are still loving having both options Paypal and DC. Once I transfer the money from a Paypal sale it usually takes about three days before it's there and I'm just having to wait for the DC sales payment's to come through. Like I said I'm glad that we have both because if we didn't have both who knows we may not have gotten the sales that we have had where the buyer chose DC.

[CobwebCorner]

For some sellers the DC fees are indeed higher. They are for me. I have a business account on Paypal and if my PayPal sales are $3,000 in one month then the next month I pay a lower fee on all of my transactions. Since I have 3 online stores I very often reach this criteria.

On average I pay just over 1% more for DC payments - but I just consider it part of doing business. I've been checking my DC fees and they seem to average about 4%; This is definitely higher than PayPal.

[OriginalsbyLauren]

they are 3% + 25 cents, not 4%

[HotelMartindale]

Thank you Lauren!!! Couldn't have said it better myself.

[dolltraveller]

I love DC. Got my first DC order on May 7, and money will be deposited tomorrow. Works for me!

[GracelinePaperStudio]

I like the option of accepting credit cards. After the initial wait after setting it up, my money was in my bank account within 3 days. This system is not for every seller, but i like to provide my buyers with this option. The fees i think are less than paypal's. Easy to check as they are listed. For me, can't complain too much about this choice.

[Former_Member]

I have always used Google Checkout (NEVER PayPal); and so far, so good with Etsy's DC. Yes, had to verify my bank account; took about 7 days - and then I was UP and RUNNING.

I thought that this was a simpler method for buyers to pay - and I did get sales. I asked Etsy (On my seller account) to "schedule an earlier deposit" - and they did just that.

Got the deposit in my Bank Account in 3 days - which is normal processing time. So far - I really cannot complain. I think that this is a great option for buyers that don't want to use PayPal - or just simply - want to "checkout" on your Etsy Site.

Well.... Like I said - so far, so good. I will keep posting and let everyone know what else I may come up with.

I am actually very happy that Etsy took the opportunity to come up with this - as I think that once the "kinks" are worked out - the Etsy Site will be much more easier for buyers to BUY!!!
:) Sofia