I received the email last week that I could now add Etsy Direct Checkout to my shop. I added it and found out that the first payment was going to be delayed for 10 days because of adding my checking account. Every time you change your checking account information there is a 10 day delay. Then there is a 3 day delay after each order where Etsy holds your money. It seems a bit unclear but it looks like the 3 days actually starts after the item is shipped not after it is sold.
What is also unclear is how long it takes for them to make a deposit. If it is anything like PayPal it could take an additional 3 to 5 days for them to deposit your money. I have made two sales so far and it seems that the second sale fell victim to the 10 day initial hold and will not be available until after that has cleared.
There is no shipping option with Etsy as of yet, so before you start using Etsy Direct Checkout make sure you have the funds to ship packages. You can use PayPal for shipping. Just use the multi-order shipping option. I had a glitch both times that I used this option and never got the original label to print and had to wait until it was in my transaction list and reprint the label. I am using Chrome browser so that could have been part of it. But you may want to just start an account at usps.com to avoid potential hassle.
Anyhow, I will let you know the progress of how things go with Etsy Direct Checkout. If you have any experiences and would like to share please feel free to leave a comment or email me at MarketMyShop@gmail.com
I haven't received the notice for Direct Checkout yet - but I am looking at alternative shipping options. I am not willing to manually enter addresses!
ReplyDeleteAnd the whole payment process is confusing - they don't give me my $$ till the order has shipped but 99% of my orders are custom.
I am on the fence on this one!
Eric - Just wondering - how does Etsy know if you've shipped a package when you use Direct Checkout? Do you just click the box and they take your word for it? I've always used my own USPS and Fedex accounts for all my shipping and they aren't linked to Etsy.
ReplyDeleteThese hold times seem excessive. I don't want to miss out on sales, but I'm kind of nervous about trying this.
I've had Direct Checkout just long enough to have my money deposited into my account. Etsy said my funds were available and were scheduled to be deposited in several days, but there was an option to deposit earlier. I clicked that and it changed the date to that day. The money was deposited in just a few hours. I'm happy with it so far.
ReplyDeleteLeAnne,
ReplyDeleteI would think for custom orders it would not be nearly as useful. Perhaps when negotiating a custom order you can request that your customers use PayPal. Just a thought.
barbaradonovan,
I check the box and enter the tracking number. The initial hold time is the 10 day hold. After that there is just a 3 day hold. As Leah stated below it was hours before the money was deposited so it looks like that would be about the same a PayPal transfer.
Leah,
Good to know about the transfer times.
I made my first sale,
ReplyDeleteThey delayed the payment for 10 business days, and claimed that I would recieve my payment today. But when I tell them that I haven't gotten it, they inform me of an additional 3 to 5 hold! WTF!!! They are so quick to take money off of my card to pay for these transaction fees and stuff, but to pay me what I earn, they delay it. I think I am dropping Etsy. I want to know of any good alternatives for selling Paintings online?
Like, Leanne. I make custom paintings too, that get picked up from local customers. I mistakenly used Etsy as a merchant services so that I could pay for framing and materials. But everything came out of pocket and now, I am pissed.