Etsy's bank fails... what next?

[#1]

The collapse of Silicon Valley Bank today is awful news.  I wonder what this means for Etsy sellers and funds.  

https://www.wsj.com/articles/after-silicon-valley-bank-fails-tech-startups-race-to-meet-payroll-4ebd9c5c

[CraftyCornishMaids]

I was paid today

[SugarTaffySoap]

Any one who has received their deposit today (Monday) give a Like or let us know. Are you in the USA or another country?

[TimeSpanTreasures]

I usually don't see the deposit sent until the afternoon, usually anywhere between 1 and 4 PM.

It's only a little after 10 AM here; will check later to see if funds have been sent to bank.

[EarSugarHandmade]

Showing scheduled for today.  It usually happens in the afternoon for me so I will check back then.  I am optimistic that it will happen though. 

[OLDSTUFFNOW]

My cousin still owes  me $20

[BrizelButtons]

Although the amount has increased... it still says scheduled for March 10 deposit.

[boygirlboygirldesign]

Mine usually shows up in the afternoon so I don't know yet.

[OLDSTUFFNOW]

Lol i want my $34

[BrizelButtons]

Here's the email i got this morning...

[This content has been removed by Moderation. We ask that you please review Section 1, Item 2 of our Community Policies prior to posting.]

[BrizelButtons]

My answer to their letter...

[This content has been removed by Moderation. We ask that you please review Section 1, Item 2 of our Community Policies prior to posting.]

[PillowDetails]

What, exactly, were you hoping for?

[BrizelButtons]

@PillowDetails 

The deposit date to be updated and a date when i can expect said deposit.

[EarSugarHandmade]

It’s weird they removed that.  It was a basic non specific response…

[StonesAndLeatherUS]

Today my Etsy payment account will not open. I am in the US. So I cannot see what is going on. Yes my shop is vacation until  this matter gets resolved. 

Glad UK is getting their money

[CraftyCornishMaids]

Sellers from UK, Canada, Portugal and Netherlands have reported so far, that money is coming through

but don't forget, it's nearly 3.00pm in the afternoon in the UK

[StonesAndLeatherUS]

Okay I can now see and my payment was scheduled for the 20th and requested it for the 14th. So that is a good thing. Don't know if it will actually happen tomorrow, but atleast it is there for deposit.

[NanaLetha]

@CraftyCornishMaids  - Yes, Etsy does have money in that bank. On the news this morning Etsy was mentioned as one of the biggest corporate depositors.

[OneTrickChassis]

I think everyone will get paid, although it may take a few days or more for everything to get squared away with the banks after the bailout and given the green light. It's been a stressful weekend for all of us here, and certainly a wake-up call for me after losing everything in the 2008 bank debacle.

Oddly enough, I seem more concerned about the buyer confidence being shaken and not making sales after all this LOL.... 

[OneTrickChassis]

So here's my update... my payment was scheduled for today, it has now been updated to the 27th. So pushed back by 2 weeks

[HandyNat]

My deposit date is now showing March 14th 🤦‍ 

[OneTrickChassis]

I just changed mine to the 14th, let's see if it sticks

[TCSublimation]

I’m located in the USA and my deposit date just changed to march 14th when it said the 13th this morning. So no deposit today for me now, we’ll see tomorrow.

[Wildcraftedco05]

Mine just changed as well

[MichelleArtStudioCo]

My payment was updated for March 20, it was supposed to be today. That’s not good because I need that money for bills 

[fabricfetish]

@MichelleArtStudioCo Do you have the request in now button showing next to the date?