The collapse of Silicon Valley Bank today is awful news. I wonder what this means for Etsy sellers and funds.
My payment was updated for March 20, it was supposed to be today.
Mine did as well, but I'm lucky that the amount is so insignificant, it will not throw me into destitution.
There will be many, though, for whom this would be a problem.
I just moved mine to the 14th
Mine just switched from today 3/13 to 3/20. I'm in the US.
Me too
Mine also showed 3/13 this morning and now shows 3/20. I'm in the Midwest like @fabricfetish so this is obviously affecting more than just West Coast sellers who were closer to the bank. That means probably a larger number of sellers were being paid from SVB, so it may take more time to get things sorted out. However, now that all funds in SVB are now available again, there may not be much delay. We'll probably have to check daily to see when accounts are being paid again.
I /We may have jumped the gun....Based on info in this thread. Deposit dates normally switch prior to the deposits leaving etsy.
Yes, as discussed in that thread, I've noticed before that the first step of a deposit is that the date changes to the next deposit date before the deposit is initiated. I thought I was past that time.
However, mine has now changed to the payment is currently being deposited. So apparently they are simply running an hour or two behind on initiating today's deposits.
@dayspringcollectible Yes mine just switched as well, to "Your payment is currently being deposited into your bank account"
@fabricfetish @Yes and I requested and it’s saying deposit the 14th
@MichelleArtStudioCo good. Etsy might be giving those who need the $ now but also themselves some wiggle room to sort this out with shops that can wait. Hopefully that makes sense....
So if it’s the 14th ( brain not thinking) will it show up tomorrow or the 15th?
If they deposit it tomorrow, most likely it'll be in your bank on the 15th, assuming you always have gotten it the next day before.
@MichelleArtStudioCo are your funds usually available immediately or is there a lag time? I would assume the lag time would be the same.
Mine just changed from today to tomorrow.
Mine has also changed to the 14th. It’s done that before during a transfer though so I’m still giving it some time.
Mine was also saying today and now its saying tomorrow the 14th ughh
Not good! Lol I have things coming out of my account ughhhhh
@MichelleArtStudioCo Looks like this usually happens. they are discussing it here.
Basically on the 14th it will switch to 15th and so on until who knows when 🤦
My Deposit Payments are on their way. Should be complete there in My Bank tomorrow. I am in BC Canada and not sure what bank used to Transfer, could be the troubled one, as we have branches of them here as well.
I know that SVB has been bailed out, but it would be really nice if Etsy would update sellers on just what is happening and give us the courtesy of a realistic timeline so we could all breathe a little.
@fabricfetish @so today was the deposit day and it would show up tomorrow. Now I have no idea and stuff coming out of my account because I thought my money would be there
I’m literally screwed right now!
Florida here
Im in Florida too and my deposit just switched to the 14th. I cant help but think its going to go to the 15th then 16th and so on. Did anyone actually get paid today ??