Depop Payment Processing Fees Increasing 1-5-2023
Etsy-owned marketplace Depop has announced payment processing fees will be increasing effective January 5, 2023.
Depop Payments fee change (US)
On Thursday, January 5, 2023 the transaction fee that is charged for every sale that is made through Depop Payments in the US will be increased. We wanted to outline how these changes may affect you as a seller.What are the changes?
From January 5, we will increase the transaction fee that is taken in addition to our 10% Depop fee. This means instead of being charged 2.9% + $0.30, you will now be charged 3.3% + $0.45 in transaction fees, plus the 10% Depop fee, when you sell an item through Depop Payments.The transaction fee for PayPal transactions remains 3.49% + $0.49.
What is a transaction fee?
Transaction fees are charged on all sales. They cover the cost of processing a buyer’s payment. This fee is separate from the 10% Depop fee.Why are we doing this?
Card companies have increased the fees they charge Depop for processing payments. While we’ve kept our payment processing fee the same since introducing Depop payments, it’s become increasingly more expensive to process payments. For this reason, we are increasing the transaction fee in the US.
As many of the items I sell are £10 or less, this makes it not worth the bother and I'll probably have to give it away to the charity shop.
Add that to the "buyer protection" fee they've added on - and the costs are making it untenable for people trying to clear the house, or make a few bob from old bits and pieces. Not happy at all and there doesn't seem to be a way of opting out.
The sooner these sleazebags at the top can be got rid of, or some community-run buy/sell/swap sites come up - the better. We don't need ebay.