Tradesy SLOW SLOW SLOW PAY TO SELLERS
Tradesy's canned statement below is inaccurate they hold all payouts at least 21 days lately and have been over 30 days for no reason...buyers happy with purchase, not returns, not waiting internal inspection. I used to love this site because they were fast pay not anymore.
I have been selling on other sites because of this- that release sellers funds within days or a week. Too bad because Tradesy was awesome at one point. Too bad they can't compete with other sites or go back to the original way of doing business but keeping all the funds for 21 to 30 days pays them at ton of interest on our money.
"Typically, 90% of sellers receive their earnings within 5 days of delivery. Tradesy may hold your earnings from a sale for up to 21 days after your item has been delivered to the buyer to ensure the security of every transaction."
Reason of review: Problems with payment.
Preferred solution: Let the company propose a solution.
Tradesy Cons: How sellers are treated, Inconsistent rules and proceedures.
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Tradsey will never tell a seller they are about to claim bankruptcy... specifically since the owner's husband took over half of the company.
So who are the fools here... the owners who are going to the bank everyday, or sellers and buyers who put themselves directly in the middle of two people getting a divorce?
I agree 100%, the extended wait time for payout, has been for every sale... and definitely over 30 days from time of delivery.
The response I received in regard to the ridiculous wait time on every sale, essentially stated, they are trying to improve, but they are a small company struggling to compete. Ha, whatever...I don't appreciate being lied to, especially in a manner where they are attempting to make me feel sorry for them...all the while, collecting a months worth of interest on our money. It's so obvious at this point, curious how long they will be able to continue with their underhanded practices.
I enjoy being a seller, and have exponentially better experiences on other platforms with volume of sales, and very fast payouts. Thanks Tradesy, but I'm over this mess.
Same - waited almost 60 days to cash out funds from Tradesy over the holidays. Donโt like my money being held hostage.
I have heard that there has been an increase in buyer remorse, as well as bait and switch and return.
I like Pmark better for high end - all items over five hundred go to them first. Better model.
Yes, Tradesy holds onto funds way too long. Still waiting for a payout from a sale made 3 weeks ago.
So sad. I use to love selling on Tradesy.
I pulled back because itโs taking so long to get paid.
They lie to you every time you call begging for your money from your sale two months ago. Iโm over it !!
Have you discussed this with the company directly? Any proposed solution?
It is legal to hold our money?
They do advertise their 21 day hold and the additional 2.9% transfer fee. You sign on and agree to their terms.
I have a problem with the additional time it takes once a seller requests a money transfer. It does not take TEN days to transfer money.
I'd have more respect for them if they said they have a 30 day payout with an outrageous commission. Also-I think I'm pulling al my inventory well before the holiday season because I have a strong feeling they'll be gone and I'll never get paid.
I stopped selling on Tradesy two years ago and have been much happier, they always had an excuse as to why your payments were so delayed. I got the distinct feeling this company is having financial trouble and is holding out payments to stay afloat.
I got the last payment due to me and got out of there.
Iโd be very cautious selling anything high dollar on there, if they finally go under you will probably never see any of your money. I have a business on Poshmark, no site is perfect but Iโve been happy and money is in your balance within three days, no transfer fees either.
I shipped at item august 6th and still haven't received my funds. Extremely upset. Why does the customer get to enjoy my item for almost a month now and i'm out an item and haven't gotten paid?
Same thing is going on with me . Sold my item a month ago and I still donโt have my money
I agree on the amount of time it takes to receive your payment from Tradsey. Sold an item, mailed it to the customer within 2 days after purchase with tracking.
Waited a month for my payment.... reached out to TRADSEY and they replied back stating they are a small company and it takes time to send out payments. Even used Labor Day and the hurricane as a reason for slow payment. The item shipped August 3rd.....
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Iโll now start selling on other sites. Too sad.
I agree! I stopped selling on Tradesy as well. They take too much from the sale for commission and then they charge you to transfer the money and they keep the money so long it doesnโt make any sense.
Agree!
I have sold in excess of $12,000 in merchandise on Tradesy. Over time the fees have increased to 23% in addition to the transfer fee they charge on payments to your bank account.
The wait time to release your funds has increased to 21 days and it takes another 2 weeks to receive your payment. Here is a breakdown of a recent transaction: Buyer made purchase on June 8th for $299.00. Item was delivered on June 12. Gross funds of $232 were finally released on July 9th and I requested payment that same day.
Minus the transfer fee Tradsey charges, my net transfer amount was $225 minus another $12.00 for the shipping label. Today is July 19th and the funds due have still not been deposited into my bank account!!! As a small business owner I find that unacceptable. I can no longer afford to do business on Tradsey.
I also do business on eBay and Etsy and have experimented with Poshmark. All of which charge far less in fees and pay much faster. They all also offer discounted shipping labels which Tradsey does not.
I would like to replace Tradsey with another online women's fashions/jewelry store. Your recommendations are appreciated.
Love selling on Mercari. Quick payment .
Easier website to use. Only pay 10% commission.
Yes, Tradesy is just terrible terrible terrible in paying out to sellers. Are they making a profit by reaping interests from holding the money that they owe to the sellers, in addition to charging a ridiculously high fee? This very fact is quite telling on incompetent the business is becoming, perhaps.
After fighting with them for months over them refusing to accept that a buyer switched my items (even though it was clear from pictures) they finally agreed to give me my money. But now, where is it??
I have a confirmation over 10 days ago that the funds were being transferred. This has been a NIGHTMARE.
It is looking like some item 5 weeks on payouts.
so true; it's disgusting. tradesy is arbitrating seller disbursements to fund itself.