Anyone Ever Buy and/or Sell on Tradesy?

[Catbird9]

Can anyone post their experience on funds transfer directly to your bank account vs. to paypal?
I have always been using the direct transfer option to the bank account, but it has been taking so long, especially the last few transfers. Usually it takes 4-5 business days, so I count on 6-7 calendar days, but my last transfer (transferred on 4/10, expecting it to be in my bank account on 4/14 or 4/17 the latest), nothing today. It has never taken this long. Looking at the option to go through paypal first. It says in Tradesy's policy that it takes 1-2 days to transfer to paypal, which is much faster then to the bank account. It only takes 1 day for my transfers to go from paypal to my account, so I am thinkink it will be much faster to do it that way. The fee is 2.9% either way.

I've never used the bank account transfer as I don't want Tradesy to have that information. I always transfer to Paypal. The last time it took 2 days.

I agree, it's better to go through PayPal. I don't like to connect my bank account to any third party system unless absolutely necessary.

On a related note, effective May 17, Etsy is requiring sellers to connect their bank account or quit selling on the site.

"If you live in a country in which Etsy Payments is available, you are required to sign up for Etsy Payments, which will result in your shop accepting payment by authorized credit and debit card transactions, some bank transfers services, PayPal, Apple Pay, and Android Pay. In order to sign up for Etsy Payments, you must provide account information for a valid bank account in the United States, Australia, Canada, the European Union, Hong Kong, New Zealand, Norway, Singapore or Switzerland.
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If you live in a country in which Etsy Payments is available and you do not provide account information for a valid bank account in the United States, Australia, Canada, the European Union, Hong Kong, New Zealand, Norway, Singapore, or Switzerland prior to May 17, 2017, your selling privileges will be suspended until you provide this information."

 

[GemsBerry]

I agree, it's better to go through PayPal. I don't like to connect my bank account to any third party system unless absolutely necessary.

On a related note, effective May 17, Etsy is requiring sellers to connect their bank account or quit selling on the site.

"If you live in a country in which Etsy Payments is available, you are required to sign up for Etsy Payments, which will result in your shop accepting payment by authorized credit and debit card transactions, some bank transfers services, PayPal, Apple Pay, and Android Pay. In order to sign up for Etsy Payments, you must provide account information for a valid bank account in the United States, Australia, Canada, the European Union, Hong Kong, New Zealand, Norway, Singapore or Switzerland.
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If you live in a country in which Etsy Payments is available and you do not provide account information for a valid bank account in the United States, Australia, Canada, the European Union, Hong Kong, New Zealand, Norway, Singapore, or Switzerland prior to May 17, 2017, your selling privileges will be suspended until you provide this information."

Would you provide it then?
I always thought bank account is safer. my linked BA has only limited funds, while PayPal usually has several funding sources (if one fails they'll use another). If Tradesy decides to pull out funds two years later out of nowhere they won't be able to. in other words having a separate BA just for Tradesy, Posh etc looks like a good idea.

 

[domifreaka]

I was told by Tradesy that it doesn't count against me and that it doesn't matter how many regular returns I have since that is their policy. I don't think there is a published SNAD policy for regular sellers but for business sellers, they are only allowed a certain percentage, and after that, they pay the higher commission rate.

Thank you!

 

[jmc3007]

Would you provide it then?
I always thought bank account is safer. my linked BA has only limited funds, while PayPal usually has several funding sources (if one fails they'll use another). If Tradesy decides to pull out funds two years later out of nowhere they won't be able to. in other words having a separate BA just for Tradesy, Posh etc looks like a good idea.

+1. precisely why I don't keep money or other sources of funds linked to my dedicated Tradesy checking account when one day I decide to quit it altogether. not gonna allow any vendor to start clawing back my money months/years after the fact.

 

[Catbird9]

Would you provide it then?
I always thought bank account is safer. my linked BA has only limited funds, while PayPal usually has several funding sources (if one fails they'll use another). If Tradesy decides to pull out funds two years later out of nowhere they won't be able to. in other words having a separate BA just for Tradesy, Posh etc looks like a good idea.

Definitely! You make a good point about the other funding sources linked to PayPal. It makes sense to create a separate (free) checking account with limited funds, just for that purpose.

 

[BeenBurned]

I agree, it's better to go through PayPal. I don't like to connect my bank account to any third party system unless absolutely necessary.

But do you ever withdraw money from your PP account? You'd have to link your bank account if you transfer from PP to your bank.

Would you provide it then?
I always thought bank account is safer. my linked BA has only limited funds, while PayPal usually has several funding sources (if one fails they'll use another). If Tradesy decides to pull out funds two years later out of nowhere they won't be able to. in other words having a separate BA just for Tradesy, Posh etc looks like a good idea.

I think routing and account info is much safer than paypal because your bank will never make unauthorized transfers, whereas Paypal can hit your c.c. and/or bank if you give them the info.

People make the incorrect assumption that with your account information, some random stranger can withdraw funds. It won't happen. You can authorize withdrawal of funds when you make online payments (i.e., electric company, gas company, c.c. payments, wireless provider, etc.) but YOU are the one that provides the information and it's linked and credited to your account. None of those providers would be able to get a withdrawal from your account even though they have your banking info.

 

[Catbird9]

But do you ever withdraw money from your PP account? You'd have to link your bank account if you transfer from PP to your bank.

I withdraw money from my PayPal account by using the PayPal debit card.

I think routing and account info is much safer than paypal because your bank will never make unauthorized transfers, whereas Paypal can hit your c.c. and/or bank if you give them the info.

Good to know...thanks!

 

[HandbagDiva354]

Someone from Norway just asked me to reduce the shipping value of one of my items. What does that even mean? That sounds like something dishonest. All my shipping labels are from Tradesy anyway.

 

[whateve]

But do you ever withdraw money from your PP account? You'd have to link your bank account if you transfer from PP to your bank.

I think routing and account info is much safer than paypal because your bank will never make unauthorized transfers, whereas Paypal can hit your c.c. and/or bank if you give them the info.

People make the incorrect assumption that with your account information, some random stranger can withdraw funds. It won't happen. You can authorize withdrawal of funds when you make online payments (i.e., electric company, gas company, c.c. payments, wireless provider, etc.) but YOU are the one that provides the information and it's linked and credited to your account. None of those providers would be able to get a withdrawal from your account even though they have your banking info.

I think Tradesy might have the same capability as Paypal to withdraw from your account as well as deposit. Did you get the email that you have to become verified if you want to deposit to your bank account?

I keep one bank account linked to my Paypal that is devoted exclusively for ebay, etsy, etc. transactions. Paypal doesn't have access to my main bank account.

 

[NANI1972]

Someone from Norway just asked me to reduce the shipping value of one of my items. What does that even mean? That sounds like something dishonest. All my shipping labels are from Tradesy anyway.

She's asking you to claim less on the customs form, which of course you wouldn't be able to do anyway since it's a Tradsey label.

 

[BeenBurned]

I think Tradesy might have the same capability as Paypal to withdraw from your account as well as deposit. Did you get the email that you have to become verified if you want to deposit to your bank account?

I keep one bank account linked to my Paypal that is devoted exclusively for ebay, etsy, etc. transactions. Paypal doesn't have access to my main bank account.

I didn't get the "verified" email but I'd already pulled/ended my few listings there because they'd raised their commission and reduced the visibility.

 

[HandbagDiva354]

She's asking you to claim less on the customs form, which of course you wouldn't be able to do anyway since it's a Tradsey label.

I'm usually flexible on my price but this item I purchased around Christmas for myself but never used it. It still has tags attached. My price is already below cost but I need to purge my closet. So after no to a reduced shipping value and no to paying her custom fees and no to a price reduction . She just bought it! Yayyy!!

 

[NYCgirl]

I recently purchased a Chanel bag from a "verified and trusted pro seller" in Chicago, Illinois (COCO-LUXURY,) only to discover when shipped that it was coming from China. I haven't received the item yet, but this has left a bad taste in my mouth. It isn't even the fact that it is coming from China, because I have purchased items from Asia in the past without problem. It is the deception that really bothers me, especially for an item so expensive. I called Tradesy and they gave me the song and dance about only a handful of trusted sellers being allowed to do this. I'm considering trying to dispute the charge on my credit card to receive a refund, because as is the item is only returnable for tradesy store credit. I am also having it authenticated by a third party seller, but even if it appears to be authentic, I'm not sure I'm comfortable with this.

 

[fashion_victim9]

She's asking you to claim less on the customs form, which of course you wouldn't be able to do anyway since it's a Tradsey label.

but how is it even possible? you don't deal with custom forms on Tradesy and they use mail forwarder for international orders, so it's just impossible to do.
maybe buyer was newbe and didn't know how it all works on Tradesy?

 

[fashion_victim9]

I recently purchased a Chanel bag from a "verified and trusted pro seller" in Chicago, Illinois (COCO-LUXURY,) only to discover when shipped that it was coming from China. I haven't received the item yet, but this has left a bad taste in my mouth. It isn't even the fact that it is coming from China, because I have purchased items from Asia in the past without problem. It is the deception that really bothers me, especially for an item so expensive. I called Tradesy and they gave me the song and dance about only a handful of trusted sellers being allowed to do this. I'm considering trying to dispute the charge on my credit card to receive a refund, because as is the item is only returnable for tradesy store credit. I am also having it authenticated by a third party seller, but even if it appears to be authentic, I'm not sure I'm comfortable with this.

we even discussed this seller earlier as far as I remember, and she sells authentic items, but totally understand you, it's not fair, you need to know where it comes from before purchasing. And I am surprised that Tradesy knows about it and allows it, I thought sellers do it breaking the rules, but if it's officially permitted.. hmmm.. it stinks