First sale but where is the money? Help please

Shop Talk
1

I’ve just made my first sale and it says paid, but where is the money - paid by stripe but how long before it appears in the bank?? Should I wait until it appears in my bank before posting?
Sorry if I sound a bit dim but not sure, can anyone advise me please.
Wendy

2

Log in to your Stripe account (there’s a link from “card payments” on dashboard), if the money shows there you’re safe to post. I think it normally takes about a week for them to transfer the money to your bank account, but just like with paypal, as long as it’s in your account there you’re fine.

Congratulations on your first sale!

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3

If you log into your Stripe account and go to your profile (top right hand corner - looks like a head and shoulders), then scroll down to e-mail preferences, you can tick the box to be sent an e-mail for ‘Successful payments’. Then you can post your item in confidence, knowing that payment has been received. Stripe usually send payments to your bank about a week later. If you click ‘Balances’ from the left hand side menu list, it will show how much you will get and when it will be transferred to your bank. Bear in mind that Stripe take their own fees and Folksy fees, so don’t be surprised if it is slightly less than you expect.

Also, congratulations on your first sale. Hopefully it will be the first of many!

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4

Thank you Kim. I’ll take a look. Just got rather excited about it then wondered where the money was

5

Thank you so much. I’m very slowly finding my way around Folksy. I’ve had a shop for some years but its been inactive for about the last 4 years and everything has changed. Can you clarify if the folksy fee is paid separately or is it included in the stripe fee (if you know what I mean!) Thanks for your help. Wendy x

6

The Folksy fee is deducted from the payment you receive from Stripe which in my experience is always paid to you after 7 days. There is also a deduction for Stripe fees but they pretty low.
It means your Folksy bill at the beginning of the month is only for payments made via Paypal.

7

Thank you for that. It’s a bit confusing at first, but everyone has been very helpful.
Wendy x

8

I had a scare like this lol…