[RESOLVED] 03/10/23 USD Disbursements

[ampersay]

As you may have seen, we recently experienced a delay in our ability to issue payments to some of our sellers. This was related to the rapid and unexpected collapse of Silicon Valley Bank. 

We apologize for any inconvenience this has caused. Our teams have been working around the clock to implement a solution and ensure sellers are paid within the next few business days via our other payment partners.

We are committed to helping you run your business -- and providing a reliable experience is a critical part of that commitment. Please know our teams are working tirelessly to minimize future disruptions and continue to serve you as best we can.

[ampersay]

We wanted to follow up on our March 11 update and let you know that the payment delay we experienced on Friday has been resolved. This delay resulted in funds being delayed by 1 business day and impacted approximately 0.5% of our total active seller base, but we wanted to share some more details about the situation with our full seller community.

As a reminder, we experienced a delay in issuing payments to some sellers related to the unexpected collapse of Silicon Valley Bank. Following the bank’s collapse last week, we immediately began working with our other payment partners to establish new processes to issue seller funds. We're pleased to report that this solution is now in place and we’ve begun processing deposits without further delay.

Although we experienced a brief delay in issuing some seller payments, transactions on the Etsy marketplace were not impacted. Buyers were able to continue purchasing items they love from our wonderful global community of sellers.

Thank you all again for your patience. As always, please feel free to reach out to our Help Center 24/7 with any questions you might have.