Anyone Ever Buy and/or Sell on Tradesy?

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#8,116
GemsBerry said:
The problem is Automatic payment. it's monthly payment that Etsy takes automatically based on estimated amount of sales, not actual amount. Usually it's rounded to a larger amount, the difference rolls onto the next month. It's favorable to Etsy, but as a seller I prefer to have actual monthly billing. If you can you should change billing settings and opt out of automatic billing (all new sellers are opted in by default, because Etsy tried to avoid "hit and run" sellers and scammers who would take customers money and will close account without paying fees. I believe sellers can opt out after few sales unless Etsy changed it for good).
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Or even more of a scary thought... if the fee is an estimation of how much I might sell, they wouldn't charge me $100 next month even if I don't sell anything right?
I just read through all of their terms and selling fees section and they only mention a 3.5% fee, and nothing about this automatic payment. I tried to update my settings but there is nothing regarding opting out of an automatic payment. I am on the selling app though so maybe I can find it on the desktop!
 
#8,117
nicole0612 said:
Or even more of a scary thought... if the fee is an estimation of how much I might sell, they wouldn't charge me $100 next month even if I don't sell anything right?
I just read through all of their terms and selling fees section and they only mention a 3.5% fee, and nothing about this automatic payment. I tried to update my settings but there is nothing regarding opting out of an automatic payment. I am on the selling app though so maybe I can find it on the desktop!
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Personally I'm opted out but this is what I found in the forum
"Everyone has a 'fee threshhold' and start with a low limit. The more you list/sell/and pay off your bill, it gradually gets increased.
Here is a link that explains it a bit better.
www.etsy.com/help/article/3709?ref=tt_ab_billhome#Q4 " it explains fee threshold and how to stop autobilling.
HTH
 
#8,118
nicole0612 said:
Is there a subforum for etsy selling? I have sold a bag on there and I got a message that says:

"Dear N,
Thank you! Your automatic payment of $52.33 on May 7, 2017 with your Visa ending in xxxx has been received. Your account balance for XXXX has been adjusted. And your fee threshold has been raised to $100.00."

I sold a bag for $1125 + $25 shipping (I purchased the shipping label through etsy for a few pennies under $25)
Is the $52.33 "automatic payment" the fee for the transaction? Meaning that $1150 will be deposited into my account ($1125 + $25). It seems odd that they would bill my credit card for the selling fee instead of deducting it from the $ deposited for my sale. Also what does it mean that my fee threshold has been raised to $100?
Sorry if this is the wrong place to post, but I could not find an etsy subforum here after searching.
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nicole0612 said:
Thanks, I had no idea! So does that mean that this $53 is *in addition* to the percentage they take out of the $1150 of my sale for site fees? And does that mean that next month they will automatically take out $100? I've only sold two things since most of my items are not vintage , and they were both barely over $1000, so that's a lot in fees for me!
I only have one other item listed for about 2800 so now I'm scared how much they take out and fees for that. I might have to remove that listing... I read their terms, but I only saw the amount that they take out in selling fees as a percentage.
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The way I understand it, your threshold is the limit at which they will charge your credit card. What it means is your credit card gets billed for fees monthly but if you accumulate fees during the month that are over $100, they will bill your credit card then. So if during the month, you accrue $78 in fees, for example, your credit card will be billed monthly, but if you acrrue $150, instead of waiting for the end of the month to bill you, they will bill your credit card the minute it reaches $100, and then bill it again for the balance at the end of the month.

When you have your money deposited into your bank account from the sale, the fees that are taken out of that are the credit card processing fees, not your etsy selling, or final value fees. So for your $1150 that you received for the sale, the amount deposited into your account will be reduced by the payment processing fee. The selling fees get charged to your credit card. You aren't being double billed. The total percentage you pay is only around 6 or 7 percent, less than half what Tradesy charges. In order to see these fees, they will show in two places on etsy. The selling fees will be shown in "your bill" under the finances tab. The payment processing fees will show in finances under "payment account."
 
#8,119
GemsBerry said:
The problem is Automatic payment. it's monthly payment that Etsy takes automatically based on estimated amount of sales, not actual amount. Usually it's rounded to a larger amount, the difference rolls onto the next month. It's favorable to Etsy, but as a seller I prefer to have actual monthly billing. If you can you should change billing settings and opt out of automatic billing (all new sellers are opted in by default, because Etsy tried to avoid "hit and run" sellers and scammers who would take customers money and will close account without paying fees. I believe sellers can opt out after few sales unless Etsy changed it for good).
Click to expand...
Are you sure this is true? I've never been charged a rounded amount, just what I owe.

ETA: Maybe you are confusing it with Bonanza?
 
Last edited:
#8,120
GemsBerry said:
Personally I'm opted out but this is what I found in the forum
"Everyone has a 'fee threshhold' and start with a low limit. The more you list/sell/and pay off your bill, it gradually gets increased.
Here is a link that explains it a bit better.
www.etsy.com/help/article/3709?ref=tt_ab_billhome#Q4 " it explains fee threshold and how to stop autobilling.
HTH
Click to expand...

Thank you so very much! I turned it off. So just to clarify, these fees are in addition to the 3.5% selling fees?
 
#8,121
whateve said:
The way I understand it, your threshold is the limit at which they will charge your credit card. What it means is your credit card gets billed for fees monthly but if you accumulate fees during the month that are over $100, they will bill your credit card then. So if during the month, you accrue $78 in fees, for example, your credit card will be billed monthly, but if you acrrue $150, instead of waiting for the end of the month to bill you, they will bill your credit card the minute it reaches $100, and then bill it again for the balance at the end of the month.

When you have your money deposited into your bank account from the sale, the fees that are taken out of that are the credit card processing fees, not your etsy selling, or final value fees. So for your $1150 that you received for the sale, the amount deposited into your account will be reduced by the payment processing fee. The selling fees get charged to your credit card. You aren't being double billed. The total percentage you pay is only around 6 or 7 percent, less than half what Tradesy charges. In order to see these fees, they will show in two places on etsy. The selling fees will be shown in "your bill" under the finances tab. The payment processing fees will show in finances under "payment account."
Click to expand...

nicole0612 said:
Thank you so very much! I turned it off. So just to clarify, these fees are in addition to the 3.5% selling fees?
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Thank you! This really helps to clarify.
 
#8,122
nicole0612 said:
Thank you so very much! I turned it off. So just to clarify, these fees are in addition to the 3.5% selling fees?
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I don't see any reason to turn it off. Now you'll have to remember to pay them every month. They don't estimate the amount owed, so you'll never pay more than you should if you have automatic billing turned on.

These are the 3.5% selling fees and the 20 cent listing fees. The amount taken out of your deposit is the payment processing fee.
 
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#8,123
whateve said:
I don't see any reason to turn it off. Now you'll have to remember to pay them every month. They don't estimate the amount owed, so you'll never pay more than you should if you have automatic billing turned on.

These are the 3.5% selling fees and the 20 cent listing fees. The amount taken out of your deposit is the payment processing fee.
Click to expand...

I see, so the selling fee is 3.5% + about 4.5% payment processing fee = total about 8% fee. Not bad at all, I was just surprised and confused.
 
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#8,124
nicole0612 said:
I see, so the selling fee is 3.5% + about 4.5% payment processing fee = total about 8% fee. Not bad at all, I was just surprised and confused.
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this is about right, and $0.20 fees for listing and each renewal. I don't think it's bad to turn off autopayment. Etsy will send you emails at the beginning of each month. it's due 1st, and they allow to pay your bill by 15th without penalty (they will send you a reminder).
 
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#8,125
whateve said:
I am rethinking it. I decided I can raise any lower priced items $7.50 and I'd end up with a little more money than I would have so I'm going to look into raising the prices just enough to cover. My cheapest item is $14. Tradesy would take close to $3 now so I can raise it to $18.50 and end up about the same. I'm not sure any of the buyers of these cheaper items would be enticed by the higher price.
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My four items weren't selling at the low prices so I'm not raising them due to Tradesy wanting yet more from small sellers while big ones never get these fee increases. I'd rather give the items to friends or family than let them pull this on us as sellers and in turn on our buyers
 
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