Transaction fees are not being properly calculated

[Spellbinderie]

For those who don't frequent the forums and are not aware of this issue, I wanted to let you know that there is a bug in the new redesigned payment account which seems to be affecting international sellers only. If you have the new account, please check your transaction fees to see if they are correct.
Many (all?) international sellers have discovered that they are being charged slightly more than 5%. Only the 5% transaction (commission) fee is affected, the payment processing fee is calculating correctly.

For those who pay VAT or GST on fees, this will result in higher VAT as well.

Lastly historic records have also been changed, both closed billing statements as well as VAT / GST statements so this issue extends back to June now making it all an even bigger mess.

Please join one of the many discussions in the forums and contact Etsy if you've been affected by this bug.

[ClosetGothic]

Thank you for posting this, Karen. I've just seen this myself.

Instead of 5% my last three orders were charged an average of 5.14%

Though it isn't a large amount, an answer as to why this is happening should be forthcoming from Etsy.

+++ I would also advise international sellers to keep an eye on this situation. As Karen says, those who pay GST or VAT should investigate how it is affecting their fees.

[sockysocks]

There is a Q & A thread here on the new payment account which seems to include the overcharging problem. Apparently there will be an Etsy update on Thursday 15th https://www.etsy.com/uk/teams/7722/discussions/discuss/18877493/page/1

[sockysocks]

There is some interesting information in this thread about why this is happening.
https://www.etsy.com/teams/7332/etsys-uk-ireland-seller-support-team/discuss/18878667/page/4?ref=tea...

[Lacegrenade]

Thank you for posting this, I'm in Australia so I'l double check my transaction fees and see if its happening to me too!