Etsy notified sellers it is delaying a change in billing practices first announced in April. The crux of the change, it explained to sellers at the time:
“Starting in June, we’ll automatically deduct any taxes or fees you owe from the money you’ve made from Etsy Payments sales.“
In its post and email to sellers, Etsy said it was delaying making the change, and said it would release the new experience later this year.
You can discuss the latest update on billing changes on this AuctionBytes Blog post from April.
Announcement follows:
Earlier this year, we announced plans to make managing your shop’s finances easier by combining your payment account and changing how you’re billed on Etsy.
Since our announcement, a lot of you have shared your feedback and we’re listening. Our team is working to make the redesigned payment account the best it can be for you and your shop, and to help make that happen, the new experience will now be released later this year.
We know how important managing your finances is and we appreciate your patience and your thoughtful feedback about this change. We’ll continue to update you as the new experience becomes available.
Learn more and read the original announcement here.
SOURCE: Etsy Announcement
I prefer to pay by credit card for business tracking reasons–and because I get rewards on my card. Etsy is getting closer & closer to the way eBay operates. And we know how that’s going for sellers. Raising their fees, manipulating their bill pay to their advantage. Recently did some analysis: To begin with, Etsy does not put all of the numbers out there in one report. Transaction fees are found in a different report than processing fees and in a different format (items in an order are broken down by item. Each item is charged a transaction fee. Instead of the entire sale. What does this matter? Etsy is rounding UP to the penny on each item. All of those fractions of a penny add up.