Etsy Canada Payment Delays 11-21-23
Etsy sellers in Canada report delays in payment processing for payouts on November 21, 2023.
Usually it's in my account between 6-7pm on the same day. Still haven't seen it today either. Just wondering if any other Canadian shops are missing their deposits or if it's just me.
I'm missing my Tuesday deposit as well. I bank with BMO and usually have the funds by 10pm the same day.
Did anyone else not receive their deposit from Monday's sales? Normally it hits my account around 9:30pm on Tuesday, but I never got anything. I received the email Tuesday morning saying the funds were on the way.
I'm in Canada and bank with TD.
Several sellers noted that Etsy seems to run into payment processing issues around the busy holiday shopping season in particular and wondered if it has to do with managing volume and/or making extra interest on seller funds.
at times, they just borrow our money interest free for a few days in reality
They've done it several times. It's usually around a holiday so they can hold it longer.
I received my weekend deposit, and then Tuesday's (but still not Monday's). I ended up reaching out to Etsy about it and was told that there was a one day hold because I'm a new seller. I've been on Etsy for 6 years, though.
The weirdest part is that while I was trying to find answers, I found a post from exactly a year ago (11/22/22) from MYSELF on the Etsy forums regarding the same issue LOL so weird. I'm wondering if it has to do with sales picking up and them not paying everyone at once ? I checked my banking from last year and saw that the deposit ended up coming through on the 23rd. Hopefully it's the same this year.
Initially, Etsy support was not helpful, blaming sellers' banks instead of admitting there was an issue with Etsy's payment processor.
I chatted with a support person, who would not acknowledge that a problem exists. Suggested the deposits were successful and the bank had an issue. Advised to wait 3-5 business days for the funds to appear. Since many different banks across Canada are affected, this is NOT a bank problem. The payment processor, STICHTING CUSTODIAN, is likely at fault. If you haven't done so already, please contact Etsy support to voice your concern. Etsy needs to know about this!
Currently on with etsy chat for the second time since yesterday and the same they are blaming the bank. Its not the bank. The money is missing from several sellers to several banks
However, an Etsy community manager has finally responded today acknowledging the problem was with the payment processor and they are working to correct the issue.
We’re aware that a small number of deposits from Monday have been delayed, and our team is working with our payment processor to correct this. From the follow up responses in the other thread, it seems that some of you have received your deposits. If you’re still awaiting a deposit, please let our Support team know here. We’re sorry for the inconvenience and delay.
Some sellers are starting to see those deposits come through today - but let us know in the comments below if you are still missing your deposits from earlier this week!
