How to Sell Online Without SSN? No SSN, No Problem!
As a minor or a temporary resident, it could be difficult to sell online without a Social Security N ...
Depop has been working on a new payment option for a long time. As of recently, Depop payment alternatives have been made available to vendors. You don’t even have to lift a finger; when you make a sale, the money will automatically be sent to the PayPal account you linked to your Depop profile.
You can see how much money you have on hand after receiving payments using Depop Payments (Apple Pay, Google Pay, or credit/debit cards) by checking your Depop balance. Moreover, if you’re interested in How to transfer your Depop balance to card? Read the following.
Register for Depop right away if you haven’t yet. If you already have a Depop account and want to add a bank account, follow these steps:
Step 1: Login into the Depop account.
Step 2: Proceed to the payment page.
Step 3: Navigate to the configuration.
Step 4: The next step is to add a bank account.
Step 5: By submitting a copy of your identification, your account will confirm. To be eligible for a Stripe account, you need to be at least 18 years old; however, if you are less than 18, you can quickly provide the ID of a parent or guardian in its place.
If every step is completed correctly, your Depop balance will be transferred to your required card.
You can check your total balance in the Selling Hub app whenever a customer purchases from you using Depop Payments.
Your money will be sent to the given bank account ten business days following the sale date. From one bank to the next, the actual processing time may differ by up to three days. You need to contact support if payment is pending after ten business days.
If you still need to get your payout, check to see if any information you included when you signed up was wrong or incomplete. Please verify your bank account information below if you have not received your payments after ten business days. Below are some examples of common reasons for delayed payment:
Check the following if you are awaiting a payment that seems to be over its due date:
You risk having a negative Stripe balance if you give refunds to customers while your balance is nil or very low.
If insufficient funds are in the account to cover the refund, Stripe will initiate a negative balance and apply all incoming payments toward clearing it. As soon as you make more sales through Depop Payments and get your balance out of the negative, you may expect payouts to begin as usual.
Your Depop account can only accept payments once you connect to a legitimate PayPal account. Navigate to the “Selling Hub” and then “Payments” and “PayPal.” Your PayPal account can be linked to that page.
Before your Depop Payments account is validated and linked to a bank account, you will not be eligible to receive Payouts. You will only be able to withdraw funds from your Depop Payments Sales once this data is provided. The funds will stay in a safe Pending state in your Depop balance until the transaction is complete.
If a customer clicks the “BUY” button on your storefront, you’ll have to pay a 10% commission to Depop on top of the total sale price (including shipping expenses). Depop should reimburse you the 10% cost if you cancel a sale.
Your Depop money is not in Paypal primarily because the sender must have used the associated bank account to pay for the transaction. When someone pays you through PayPal, they take the money out of their bank account and send it to you when it clears, which can take up to five business days.
Earlier, all purchases and sales on Depop were processed using PayPal, meaning that funds from your sales were sent directly into your PayPal account. Depop has switched to a new payment processing system built on Stripe Connect to better serve its customers. You no longer have to use PayPal to get paid since all transactions will be directly transferred into your bank account.
How to transfer Depop balance to card? The procedure for this question is outlined above, along with other payment topics; I hope the information will be helpful to you as a Depop vendor.
Related: How to Get Verified on Depop?