|Thu Apr 11 2019 11:04:05|
Sellers Can No Longer Offer Standalone PayPal on Etsy
By: Ina Steiner
Etsy is forcing all sellers to use its PayPal account without the ability to offer their own standalone PayPal account. In 2017, when Etsy required all sellers to accept Etsy Payments, it allowed sellers who already offered their own PayPal accounts to continue to offer it as an option.
But as of May 15, 2019, sellers' own PayPal accounts on Etsy will be a thing of the past.
This only impacts sellers who had been grandfathered into being able to use their own PayPal account. But for those sellers, it's a major concern.
With standalone PayPal, payments are deposited immediately into the sellers' PayPal account, unlike Etsy Payments, where Etsy processes the payments and then disburses funds into the seller's bank account. (We'd like to hear from sellers about how long the delay is for them.) Needless to say, this is an unpopular move
Some sellers are also concerned about how the new policy will impact their PayPal Working Capital loans, as a seller explained on this thread
Let us know if this impacts you and how, and what actions, if any, you'll be taking to adapt to the new policy.