Mar 13, 2023 17:05:00

Due to the bankruptcy of Silicon Valley Bank, payment is expected to be delayed at the online market Etsy

The bankruptcy of Silicon Valley Bank has had an impact in many ways. Etsy, known as an online marketplace for handmade goods and original goods, has sent a message to some sellers that payment is expected to be delayed.

Etsy delays payments to sellers due to Silicon Valley Bank collapse
https://www.nbcnews.com/business/business-news/etsy-delays-payments-sellers-due-silicon-valley-bank-collapse-rcna74475

Etsy is delaying seller payouts following Silicon Valley Bank's collapse - The Verge
https://www.theverge.com/2023/3/12/23636379/etsy-delaying-seller-payouts-silicon-valley-bank-collapse

A message from Etsy published by Etsy user Maridah said that due to the bankruptcy of Silicon Valley Bank, which was used for payment, there was a delay in the scheduled deposit, and that we are working with other payment partners to make the payment as soon as possible. Something that reports to make a payment.

Well, this is just great.

If you, like me, run a business that sells on Etsy, you may not see a deposit if you have them set to pay out daily because of the Silicon Valley Bank crash.

Really regret buying so many groceries today ???? pic.twitter.com/WTEYDDrY6e

— Maridah (@maridahdotcom) March 11, 2023

Mr. Maridah said that he was receiving payments every day, so he was hardly affected, but on the other hand, users who had a business of a certain size seemed to be affected, and laser-processed small items At the shop `` CultivatedLaser '', which sells , this problem occurred immediately after purchasing inventory, and he told the news site The Verge that he was having trouble paying for more than 100 orders.

Similarly, Mr. Owen McKinney, who performs laser processing, told the news site NBC that payment for shipping and materials has been affected, and he has already delayed ordering materials for next week. .

Etsy payments are expected to begin rolling in on March 13th.