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11 comments

I have been using Tradesy as a selling platform for a few years. When I first started they were charging 13.9% commission plus 2.9% transfer fee for PayPal.

I felt this was reasonable. It was not as good as Ebay but I thought for a few extra points I would give it a try. I always received my money into PayPal the same or next day,(sometimes it was less than an hour before it would transfer from Tradesy to PayPal.)

Slowly they have raised this commission fee to a staggering 19.8% PLUS a 2.9% "transfer fee." Basically they charge 23% to sell on their platform now. When they raised their rates they promised all kinds of changes like expedited fund transfer and streamlined sales.

Of course this did not happen. On the contrary, it got a lot worse. I am now having to raise my selling prices on their site to compensate for their inflated commission rates. If anyone knew they could buy my merchandise on Ebay for 13% less than Tradesy, I definitely think they would.

Sadly when they raise the commission rate on the sellers there is no choice other than pass that hike onto the buyer which is a shame. Sometimes I go ahead and tell potential buyers that email me on Tradesy to PLEASE go to my Ebay store and buy it for a lot less. Remember how I said that I used to transfer funds to PayPal from Tradesy and it would hit the same day or next day? That totally changed about a year ago, whenever it was that they did their last commission jump.

This is what Tradesy now states as the transfer time to PayPal,"Transfers take 7 or more business days to process after withdrawing from Tradesy." 7 or MORE? Are you freaking serious? 7 OR MORE business days? What is heading to my money for 7 OR MORE business days?

No transfer takes that much time! People, there is something VERY SHADY going on with the transfer time. I don't know if Tradesy is holding the funds longer and trying to get the interest before they'll release or what but it is BAD. Right now I am on my 5th business day waiting for my $238 transfer.

Tradesy is just a bad option for everyone. The buyer gets screwed because the seller is increasing its fees to cover the high commission and the seller is getting screwed from waiting suspiciously long periods of time for funds to be released, therefore prohibiting the seller from reinvesting the money and continuing to sell regularly.

Review about: Tradesy Website.

Reason of review: Problems with payment.

Preferred solution: Let the company propose a solution.

I liked: Customer service people are nice.

I didn't like: Paypal transfer time is suspiciously long.

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Anonymous
#1578473

I am pretty sure Tradesy is keeping funds for their payroll because they are broke or going bankrupt soon. There is no reason Paypal processing takes 7-10 full business days.

Ebay pays you right away on paypal. When a buyer pays it happens right away. Even if they need to do"security check" on the funds for some odd reason they keep giving people on why they take so long..

it should not take more than a few days. They are 100% having issues with money and being able to pay overhead so they are using funds that they should pay seller to cover their debt and payroll and then pay sellers they owe with incoming sales from other sellers.

Anonymous
#1570495

Absolutely the worst company to sell anything through. If you're considering, DONT DO IT.

You will wait for your sale funds for an insane amount of time. My LV sold 9/7/18 and the customer had it 9/10/18. It is not 9/28/18 and I haven't see a PENNY of my mine.

Had to contact the BBB. BEWARE

Anonymous
#1532669

Tradesy has had my funds pending from a sale for 15 days! I haven’t even been able to transfer yet! Maybe I should look into moving everything over to EBay.

HeadyLabradoodle
#1485555

Your review is 100% accurate!PayPal transfers ARE suspiciously long.I called PayPal and the rep I spoke to guaranteed me a transfer request does not take that long to process!And there are no “pending” transfers submitted to my account yet - it’s day 11.

Anonymous
#1483527

Still waiting on day 9 for the paypal funds to clear. Seems that it is no longer 7 days for tranfer. What a scam.

Anonymous
#1477128

I couldn't agree with you more. I second everything you just wrote.

It's ridiculous to wait up to 21 days after a sale to get funds and then ANOTHER 7 days to transfer to paypal or debit card.

I've sold over 20k in merchandize on tradesy since 2015 and their service keeps getting worse yet commission keeps going up. Tradesy needs to get their acts together and this is completely unacceptable.

Anonymous
#1467633

I’ve been selling on another platform and the funds are in bank my account within three days of delivery at the latest. I’m letting my remaining listings ride for a little bit longer on Tradesy since I do sell some things on there but my focus is this other selling site and sooner than later I’ll pull everything off Tradesy entirely.

The slow payouts have turned me off from continuing to use the site. I don’t like the higher commission but feel like that is something I’ll deal with, however, I don’t think it’s ethical at all to hold sellers money the way they do. I got my last payout after the item was delivered two weeks ago and now it will be days before it is actually transferred so the entire time to see my money will once again be like three weeks from the time the item is delivered.

I feel like Tradesy is pocketing the interest on our money to float their business. I can’t imagine this is legal, certainly not ethical and other selling platforms do not have this “security measure” and do just fine.

Anonymous
#1467087

I feel the same way about Tradesy 23% commission and the freaking delay pay. I just sold a Chanel bag after their high 23% commission I only get $5,000.

which means Tradesy keeps $1,400. commission ridiculous! The bag already delivered last Monday April 16, and it said the fund will be available by MAY 7!!!

I have sold many Chanel and LV bags on Tradesy before back then they only charge 15% and we the sellers would get our fund available sooner than 4 days! and the transfer to my direct deposit took only 3 days, and NOW they said fund transfer takes another 7 days plus the freaking 21 days??Luckily I didn't sell my Birkins on this stupid rip off crooked Tradesy.This IS MY LAST TIME SELLING ON TRADESY.

Anonymous
#1465947

I am on my 10th day waiting for my earnings this is the last time I’m going to sell stuff with them.

Mariner1
#1463526

Very good and accurate comment. I did an $10,000 International Transfer from UK to US it took 2 hour and it was free. Tradesy 7 to 11 days plus 2.9 %, not even sure it's legal.

Anonymous
to Mariner1 #1477055

I hate this site. They all care about themselves.

It takes way too long for my funds to be transferred to my bank account. Unbelievable,

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