Anyone Ever Buy and/or Sell on Tradesy?

[MyAwesomeFinds]

Yes. Its

Yes. It seems almost like a Pyramid scheme at this point. They hold your new sales money so long after a sale so they can use it to pay to ship items THEY (not the seller) accepted for return BACK to other sellers. Then they take BACK the money they paid to the seller for the return - WEEKS or MONTHS (what happened to their 4 day return policy)? later - and use the money they just recouped from the return to PAY OFF sellers for the more recent sales. And round and round she goes. Meanwhile, sellers can't rely on getting paid timely, or spending that money when they finally do get paid because at any moment - an item they sold a month or two ago can be getting shipped back them and their funds disappearing from their account - overdraft fees charged to them of course and old, beat up and now used items being dropped back off on their front porch. If there is no return - then Tradesy takes its easy money - commissions and transfer fee- and pays their own bills. So now, they have run off a lot of the smaller sellers and the "women selling from their closet" - their original core business plan - and NOW they are running off low and moderate income buyers and sellers, unless you want to make $1 per sale under $150 and sell way under market.

I don't think they're pulling funds back out of people's bank accounts after they have been paid--I don't think they'd actually have the capability to do that. Instead, if you have funds pending from newer sales, they are clawing back the money out of those pending amounts. Still bad obviously, and why I don't want new sales on there they can use as fodder for clawing back funds.

 

[sanamarina]

I definitely think Tradesy is going under and fighting for its life. You can see it slowly drowning. It holds seller's funds 5 weeks - 3 weeks before releasing it to process then (after you pay them another 2.9% to send your money they've been hanging onto for 3 weeks already) it takes them another week to 10 days to actually transfer the money to your account. Meanwhile, they are probably using your money to pay the shipping on returns back to other sellers who have already waited out this 5 week hold and FINALLY got their money only to find out Tradesy it taking back again and shipping their item back to them. The whole idea that anything under $150 is of such little value that Tradesy has now flipped on the whole distinguishing policy it had - and snuck it in without even emailing sellers about it knowing full well they would flip out - makes me feel like they are emptying out their own stores and inventory - using our money to survive - and just waiting for the day when they either have to file bankruptcy or sell out to some foreign concern. They are dying. I wouldn't sell anything over $1000 at this point and frankly - unless you can risk losing that - I'd be really careful. I now withdraw every penny as soon as I can - traffic is so slow that sales piling up is NOT a problem but if I had more then a couple pending sales - I'd have to decline future sales or go on "vacation" until I get payment and then another 2 weeks to make sure I'm getting to KEEP my money. So you really can't count on that money - even after you've been paid - from the date of the sale for at least 2 MONTHS afterward incase of returns - no way to run a business.

I completely agree with you. I sold more than 150 high end items on their website, and 2 days ago pulled all of my listings from their website and just waiting for my money to be transferred to my PP. I paid them more than 20k in fees, and now they are retuning me one of the items I sold because "

• We cannot verify that the images in your listing are original photographs, taken or owned by you the seller, of the exact item that was sold. Tradesy requires that your listing contain accurate images of the exact item sold, and we do not allow images taken from other sources to be used to represent your item."

I opened their Return Policy, and it doesn't even say anything like that. Scammers and liars! And it's not a big deal that they return the item, I can resell it etc., but the way they handle this is just beyond unacceptable. I'm currently on hold trying to get to their customer service, just want to let them know how much they SUCK!
And will be filing a complaint with a BBB. It won't probably do much, but generally speaking their business practices are illegal. When I sold the items their return policy didn't say anything regarding Fair Market value and etc., meaning that they can't apply their current policy as I've never agreed to it and the items were listed under their old return policy.

 

[MyAwesomeFinds]

I completely agree with you. I sold more than 150 high end items on their website, and 2 days ago pulled all of my listings from their website and just waiting for my money to be transferred to my PP. I paid them more than 20k in fees, and now they are retuning me one of the items I sold because "

• We cannot verify that the images in your listing are original photographs, taken or owned by you the seller, of the exact item that was sold. Tradesy requires that your listing contain accurate images of the exact item sold, and we do not allow images taken from other sources to be used to represent your item."

I opened their Return Policy, and it doesn't even say anything like that. Scammers and liars! And it's not a big deal that they return the item, I can resell it etc., but the way they handle this is just beyond unacceptable. I'm currently on hold trying to get to their customer service, just want to let them know how much they SUCK!
And will be filing a complaint with a BBB. It won't probably do much, but generally speaking their business practices are illegal. When I sold the items their return policy didn't say anything regarding Fair Market value and etc., meaning that they can't apply their current policy as I've never agreed to it and the items were listed under their old return policy.

They are coming up with a new excuse literally every day to send items back to sellers. Just curious, did you only use stock photos in your listing or did you also have photos taken by you?

 

[sanamarina]

They are coming up with a new excuse literally every day to send items back to sellers. Just curious, did you only use stock photos in your listing or did you also have photos taken by you?

I had the same belt listed in 5 different sizes. And one or two of them had only stock photos (but it was never an issue before). It's just such an arbitrary reason for a return. They have my item in their procession why do they care what photos have been used. Especially, the buyer returned the item because the belt didn't fit. A$$holes.

 

[MyAwesomeFinds]

I had the same belt listed in 5 different sizes. And one or two of them had only stock photos (but it was never an issue before). It's just such an arbitrary reason for a return. They have my item in their procession why do they care what photos have been used. Especially, the buyer returned the item because the belt didn't fit. A$$holes.

Yeah, esp if buyer is not claiming item is misrepresented or there’s anything wrong with it. Tradesy is looking horribly desperate.

 

[sanamarina]

Yeah, esp if buyer is not claiming item is misrepresented or there’s anything wrong with it. Tradesy is looking horribly desperate.

Exactly! The buyer messaged me saying the belt didn't fit her and bought another one from me in a different size. Plus they had the belt and didn't find anything wrong with it.

 

[sanamarina]

So I just spoke to a customer rep. The girl was nice and kept apologizing, but seriously who needs their apology at this point. I asked to connect me to a manager, she said they were all busy with other customers and took my number so they can call me back. Highly doubt they will. But if not, will be calling them tomorrow again.

 

[nicole0612]

I don't think they're pulling funds back out of people's bank accounts after they have been paid--I don't think they'd actually have the capability to do that. Instead, if you have funds pending from newer sales, they are clawing back the money out of those pending amounts. Still bad obviously, and why I don't want new sales on there they can use as fodder for clawing back funds.

Yes, they actually have been withdrawing already paid-out funds from people’s bank accounts. They have done this for over a year now. It happened to one of the people that post on this forum. That’s why I stopped selling on the site.

 

[MyAwesomeFinds]

Yes, they actually have been withdrawing already paid-out funds from people’s bank accounts. They have done this for over a year now. It happened to one of the people that post on this forum. That’s why I stopped selling on the site.

I don’t understand how that is possible. When you give them your bank number isn’t it only consent for one way deposit? Is this something specific to business sellers?

 

[nicole0612]

Right, so Tradesy actually has power to "reverse" payment and take funds directly from your bank account not just Tradesy balance. for that reason it's good to keep an empty account associated with Tradesy and disable overdraft there.

I don’t understand how that is possible. When you give them your bank number isn’t it only consent for one way deposit? Is this something specific to business sellers?

I just quoted one post, but read back and forward from here for a month or so on each side.

 

[MyAwesomeFinds]

I just quoted one post, but read back and forward from here for a month or so on each side.

Thanks. I'm still pretty sure this is not legal, and if Tradesy did it to me I would contest it with my bank.

 

[nicole0612]

Thanks. I'm still pretty sure this is not legal, and if Tradesy did it to me I would contest it with my bank.

It just seemed too high risk for me to keep selling there when this started happening to some people. I’m sure there are ways to get around this risk or to dispute it, but my top goal in selling my things is to avoid stress, so I am biased.

 

[sanamarina]

So just spoke to their manager, and in two words he explained “That their policy has wiggle room for them to do whatever they want, meaning that they can return an item for any reason, even if it’s not mentioned in their policy.” Also, from what I understood they won’t be excepting most of the returns, unless they can make money on relisting the item in their closet.
Basically, they are backlocked with the returns.
When I asked why wouldn’t they eliminate the whole return policy as Poshmark or TRR, he said they not gonna do that. When a buyer returns an item, they ship it back to the seller, but Tradesy gets to keep the money from a buyer, and a buyer gets Tradesy credit.
So it all makes sense what he said. But personally, I’m not interested in dealing with returns. It’s very stressful, my money will be tied up for weeks, then it will take a month for Tradesy to return the item, then reselling it. And imagine if the item is damaged or returned again after you resell it. It’s just a vicious cycle. I don’t think they realize it’s gonna hurt their company in a long run. I’m definitely closing my account with them. Will try a different selling platform. I mean eventually most people will transition from Tradesy to another selling platform, unless they change the way they run their business.

 

[whateve]

Yes, they actually have been withdrawing already paid-out funds from people’s bank accounts. They have done this for over a year now. It happened to one of the people that post on this forum. That’s why I stopped selling on the site.

They don't have access to my bank account. If they do it on paypal, I wonder if I could file a dispute with paypal. I'm not sure how the funds from Tradesy are categorized on Paypal.

 

[sanamarina]

They don't have access to my bank account. If they do it on paypal, I wonder if I could file a dispute with paypal. I'm not sure how the funds from Tradesy are categorized on Paypal.

I’ve heard they pull money from PP accounts as well. I think what you should do is transfer your funds from PP to your bank account, and then delete the cards in your PP account. At least that’s what I did. Maybe then they will have harder time pulling money out of your account, because there is no money there.