returned deposit

[JulleenJewels]

Apparently my funds have been returned by my bank but I have had this account it for years and everything has worked fine also the correct details are entered... what is going on with Etsy every five minutes a new problem

[CuriousityShop · Accepted solution]

Talk to your bank to try to find out why it was sent back. Does your Etsy account have exactly the same name and address as your bank has down for you?

[JulleenJewels · Accepted solution]

yes everything is as it was..name account No...and so now I would like to see proof that Etsy's funds were returned and so will talk to my bank..most odd as...as I said.. nothing changed...it's exactly like the set up... before my update ..you can understand why I find this very confusing...as when they re tried with a small deposit...all went through just fine..I have asked Etsy to look into things further

[JulleenJewels]

I am truly devastated. I have been with Etsy for 11 years!

My bank details have not changed since Etsy's last deposit in 2023. My bank says there was no deposit made by Etsy in Jan 2024 and no funds were returned either, what's more -  there has been no small deposit after going through the verification process once again!

It is not my bank's fault as no details have changed at all.. my Name is the same my account number and branch etc is the same. Who do I believe?

Etsy has asked me to verify once again but I did that last week, now 6 days later I am asked to re do the verification process. As it didn’t work. The bank has no answer for me as they can't see any deposits and Etsy just wants me to redo the verification process  again. Surely there is something very weird happening as what's the point of the same details being filled out over and over again.

I don't want to restart my Ad campaign as I can’t be sure my funds will be paid to me if I make further sales. What to do next??  I feel I have to close my store. Any help would be appreciated now - thanks

There is a previous deposit from last year. All went through fine and funds have been going through for many years, why would my bank refuse funds or return them - that's not in their best interests.

I am totally baffled - I have no clue what's going on

[CraftyCornishMaids · Accepted solution]

Your bank returned it, you need to contact them, to find out why

[JulleenJewels]

here's the thing...because Etsy said it was returned it was required to then update my bank details...but they are exactly the same as before...when you do this update  and even though no changes were made you have to wait the appropriate 5 days waiting...guess what..a small deposit was made and they were received...THIS is what I am finding difficult to understand

[givemeacrown]

@JulleenJewels - You're in Australia. Some Australian sellers were recently having issues because they have a PO Box specified in the legal and tax information section.  It had worked previously but when they changed those to a street address that matched their banking information then their deposits started working again.  It's something to do with Australian laws.

Do you have a PO Box specified on Etsy?

The other thing is checking if your full name on the Legal and Tax Information page matches exactly the name of your bank account. e.g. if your bank account shows a middle initial, make sure it's also shown on the Legal and Tax Information page.

[JulleenJewels]

okay thanks for this info will check into all of this now

[LucyLocketsCaravan]

Same as me.. I'm convinced there is something wrong Etsys end.  

[WitchyWitchy]

I'm having exactly the same issue! I've now verified my bank details SEVEN times! Each message from support is the same, telling me not to worry my deposits will be paid on such and suc dat, and they never are.I think it must be soe coding error on their part, but no one from Etsy is doing anything to rectify this! I've put my shop in holiday mode several times,  and atm this is my only income! My funds have now been 'put on hold' To clarify,  my bank has told me they never return deposits. This coming from the fraud team there also?!

[CraftyCornishMaids]

you bank is not telling the truth,

all bank return deposits, if they can't match them, it's illegal for them to hold them, they have to return them, if they can't match to an account,
and the matching process, is getting more detailed.

Talk to someone else in your bank, who actually knows how bank deposits and returns work.

[ChillwolfArt]

@JulleenJewels  This may have nothing to do with your issue, but just in case it does. A while ago, some Sellers were having their deposits returned. In this particular case, it was due to a coding error on Etsy's part (checking vs. savings and vice versa). It may not be the case with you, but in the event that it is...

[MineralsRockStudio]

I've had exactly the same! I'm on week 4 of not being paid, and Etsy have been no help. I'm owed over £1000. 

Have you managed to resolve your issue? Any help would be much appreciated. 

[LucyLocketsCaravan]

I finally got my payment today such a relief after nearly 7 weeks.  I set up a new bank account with a different bank and it worked.   Might be worth a try if you are having problems 

[MineralsRockStudio]

Thanks. I'm very worried it's gone totally missing now. The payment seems to have finally left my account today, but has not appeared in my account. I've had weekly payments for years, and they go straight though.

Really glad you got your @lucylocketscaravan I have opened a new account to try just this! Wish I had now 

[MineralsRockStudio]

@LucyLocketsCaravan are you in the UK? If so, do you mind me asking what bank you used successfully please? The despot has just been returned again. I'm with Lloyds bank, s will try another.

[GlassyFields]

sounds like a blip in the systems used to move funds between Etsy and the bank. Could be Etsy, could be the bank, could be the system itself, could be a crappy internet connection or server issue (a date being off or timing being off).

One of the problems with systems is it takes serious troubleshooting to find the real problem. And often before troubleshooting, there is finger pointing between the different entities. It's often a spate of issues that convince the IT folks to investigate properly.