Hi, I had a sale a few days ago and the customer paid via Stripe. I have to post the item within three days but it can take at least seven days to be paid! That means the customer will receive the item before I get paid!!! This is so wrong, isn’t it?
Nope this is standard. If someone purchases from me at a fair and I process a card payment using zettle or sumup the customer walks off with my item but the money won’t be in my bank account for a few days. Etsy don’t release the funds as being available until the day after the sale (assuming you don’t end up on ‘reserve’ when you end up having to wait 45 days for the majority of the money from a sale). Paypal occasionally put ‘holds’ on funds and won’t release them until you have provided a tracking number or the customer has confirmed receipt.
I’ve been using stripe (on multiple platforms and for invoicing) for several years and am now down to a 3 day pay out schedule.
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Hi Sasha,
Thanks for your reply. I just hope I get paid!
I’ve never had any issues with Stripe and I also had the option to change to a 3 day payout - there was also the option to get paid out quicker but that came at a cost. Not sure what the rules are about it or when you can change the settings so might be worth checking out when you can change the settings.
Btw on Stripe payments I always look at the payment to see if the card used is from the same country as the delivery address - not to say there’s always something dodgy if it isn’t but some people did have issues before.so I’d we a bit more alert if it wasn’t.
Well done on the sale.
I got an email a couple of days ago from Stripe:
Based on your processing history with Stripe, we’re excited to offer you an upgrade to faster payout speeds. As of today, you have the option to have your funds available within 3 business days.
I don’t know what I have done to get this but I can only think it is that my previous transactions have been trouble free!
Kirsty
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