transaction fee confusion

[AmyHardieCo]

I have recently started making regular sales and I am a little confused about Etsy fees. My understanding was that it is $0.20 to list an item and then a 3.5% transaction fee when you make a sale.

I sold an item for £5.25 and Etsy deducted £0.41 at the time of sale before they send me funds

I looked in the billing tab for the same order and they have itemised on my bill $0.20 auto renew listing fee
$0.04 VAT on auto renew listing fee
$0.26 transaction fee
$0.05 VAT on transaction fee

That would work out based on currency transactions as about the same amount. I think Etsy are charging my fees twice. Once at time of sale by taking it off the total and then again at the end of the month.

Has anyone else noticed this and how did you sort it?

Many Thanks
Amy

[hooknsaw]

There is an etsy fee for the transaction (+.20 listing fee) and also a payment processing fee for the transaction. The payment processing fee is either paypal or etsy depending on how the buyer paid (and basically how the cc card company gets paid).

I can't answer on the VAT fees as we are US based.

[Plektra]

Was the quantity of the item you had listed and then sold more than 1? If yes, then it would automatically list the next item and then charge accordingly, including VAT.

[TresorsDuMondeInc]

Hello Amy, I have observed that as well. From my understanding of Etsy fee rules (I have not reviewed them recently), I had reached the conclusion that their various charges can easily add up (for us and depending on the selling price) to 10%+ for Intl transactions. Etsy imposes us to be paid in Canadian dollars even if buyers pay in their local currency and even if our Bank account accepts foreign currencies, which results on a currency exchange fee being charged by Etsy. Plus, Etsy fees are charged in USD (So it looks like this: listing fee 0.20USD, renewal fee if more than 1 item 0.20USD, payment processing 3% + 0.25 (For Canada shops), transaction fee 3.5%, currency exchange fee 2.5%, and I think I am forgetting one) . As for taxes, they apply only on Canadian sales for us.

You can look it up at: https://www.etsy.com/legal/etsy-payments AND https://www.etsy.com/legal/fees/#etsy-payments

[MyGreenButterfly]

Not sure that I can explain this properly but I am suddenly confused by my shop payment account.

"Amount" has a number that is in red ($8.50)

"Fees" also in red (.25)

"Net" ($7.48)

What am I missing? Why don't these numbers add up?

In the past, The the second number is subtracted from the first to determine the value of the "Net"

Pulling my hair out trying to understand this.

[maydaylabels]

The listing fee is for the auto-relist - not for the item you sold but for listing it again.