31/07/2023
This has happened to me, and ENDLESS other sellers. I have 2 shops, one has been established (in good standing, for 3 years)
My other for almost 13, which was my full-time income at one point. Without warning or reason, both are put on reserve. What does that mean?
It means Etsy holds on to 75%, of my income for 90 days before paying me.
And the traffic to my shop has gone to zero, because I chose not to pay for on-site ads in addition to their fees.
I *could* potentially get paid sooner, if I use their shipping and tracking methods. But those are limited and don't work for all items & locations. Definitely not for international shipping or large furniture.
But large furniture items ship via courier van, and that doesn't go through their system. So they won't accept that tracking, and I end of paying for everything out of pocket. They even hold the shipping fees the customer pays!
WHY would Etsy do this? The main bank Etsy used, in Silicon Valley in the US, collapsed earlier this year. And now they're putting 75% of sales, for a majority of sellers, on reserve to save themselves - at the expense of small businesses.
(Google " Silicon Valley Bank Collapse ")
It's shameful and disappointing. I've started migrating my shop elsewhere. It's no way to do business.
https://www.bbc.co.uk/news/business-66201042?fbclid=IwAR2TvJKGC7naKjVmsgsEm2-LcuwnQMsE_eN8ORwjmDedhJYmti_dQtm09nw
The online marketplace has come under fire for putting 75% of sellers' takings on hold for 45 days.
