This blog post is all about Etsy delays sellers payouts due to run on Silicon Valley Bank.
If you’re an Etsy seller who has a daily deposit set up and has not received it, there’s a reason why for the delay. And in this blog post, I’m sharing the latest Etsy news.
Welcome back, everyone! If you’re new here, a warm welcome to you! My name is Nancy Badillo, and I am founder of the Etsy Mastery Course. I’m thrilled to have you join my community of Etsy sellers.
In this blog post, we’ll discuss the latest Etsy news and how some sellers are worried as they’ve been informed the reason for missed payouts are due to Etsy having funds tied up in Silicon Valley Bank which just collapse last week.
Etsy has confirmed that it had to delay payouts to sellers due to the FDCI having to take over Silicon Valley Bank on Friday afternoon.
Etsy breaking news: Etsy Delays Seller Payouts due to Run on Silicon Valley Bank
Etsy sent out an email to Etsy sellers disclosing the following:
We wanted to let you know that there is a delay with your deposit that was scheduled for today. This delay was caused by the recent developments regarding Silicon Valley Bank, who Etsy uses to facilitate disbursement to some sellers. We are working with our other payment partners to issue your deposit as soon as possible.
We apologize for any inconvenience or disruption this may have caused. We know that you count on us to help run your business and we understand how important it is for you to receive your funds when you need them. Please know that our teams are working hard to resolve this issue and send you your funds as quickly as possible.
No further action is needed from you at this time. Please feel free to reach out to our Help Center24/7 with any questions you might have.
My thoughts on Etsy delays sellers payout
The collapse of Silicon Valley bank is awful news. What does that mean for us Etsy sellers and our funds – to be honest, I’m not sure how to answer the question. I am just hoping Etsy has insurance and they find other payment partners soon, so everyone’s money is issued quickly.
What are your thoughts about what’s happening? Drop them below.