Etsy Seller Series: Payment Options

If you have been following along with this series you have already seen the previous posts on:

Today I am talking about your payment options. 

It has become so easy to shop on Etsy now that it is no wonder it has become so popular!! As far as checkout payment options go you can choose to accept any or all of the following: paypal, credit card, check, money order, or other. 

These options are pretty straight forward. If you choose to accept paypal {which you should absolutley do BTW} be sure to enter your paypal email address so you can receive payment. 

Etsy started offering credit cards (direct checkout) as a payment option several months ago. I was able to take part in a trial service they offered to "test" out the new credit card option. Now that they have it fully implemented I LOVE it. I would say more than half of the orders I receive are paid with a credit card. Once you select the box to accept credit card payments you will be prompted to link a bank account to Etsy. If you aren't automatically directed to do so, click on "Shop Payment Account" on the left side of your screen:

From there you can manage and view the deposits to your account as well as the outstanding balance you have to be deposited. When you first start using direct checkout (accepting credit cards) there is a waiting period of about a week for your funds to be deposited. Once your account has been verified, your deposits will become available next business day. 

Deposits are made on Mondays, but you can request an earlier deposit by visiting this page and clicking on the "schedule earlier deposit" button. Then you funds will automatically be deposited the same business day for today only. All new funds will be deposited on Monday. You can continue daily to request an earlier deposit if you need to, or you can just let your funds be automatically deposited on Monday. That is your personal preference. In order to have an earlier deposit just be sure to change the schedule date. 

When using Paypal, your funds are deposited with each transaction making it available right away. 

Both Paypal and Direct Checkout have fees associated with using them... nothing is free, right!?! The direct checkout screen (found under Shop Payment Account) shows a breakdown of the fees you are charged for each transaction. With Paypal you have to do some hunting to find those fees... 

Using personal check or money order is also a payment option. I actually do not accept this form of payment, but that is just my preference. If you are looking to avoid any kind of fees associated with payment these are the way to go. The downside? You have to wait for a while to receive the payment. It is all dependent on how quickly your customer gets it in the mail to you. It is definitely a viable option. You will need to weigh the pros and cons for your personal business. 

I hope that helps!!! Let me know if you have any questions about setting up the payment options for your shop! I am always happy to help!! 

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