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US sellers: Getting paid with Depop Payments

This article will help explain how payouts work for US users. If you’re based in the UK, payouts work slightly differently. Read more here.

 

When you sell with Depop Payments, you get paid directly into your bank account. You can view your Depop Balance and any scheduled payouts on the app.

 

How to get started

We've now made it easier to start selling with Depop Payments. Once you have added a few personal details: your name, address, email, date of birth and phone number you can start selling.

 

Getting paid

Once you make a sale, you will need to finish setting up your account to make sure you get the money in your bank.

To get paid on Depop Payments you need to:

  • Add a bank account
  • Verify your identity by uploading ID

To complete these steps, just tap on the 'Get your money' red banner, which is shown on your profile.

Just a reminder you must be over 18 to have a Stripe account. If you are under 18 you can simply use a parent or guardian ID.

 

You will not receive Payouts until your account is verified and has a bank account connected. Until this information is provided, payments from your Sales will sit safely in your Stripe balance, but cannot be paid out to you. 

 

Reminders from Depop

We want to make sure you get your money from any sales you make on Depop, so we will send you reminders to complete the setup of Depop payments after you have made your first sale.

Just tap on one of the push notifications to verify your identity and add your bank. 

Get_paid_notification.jpg

 

How do Payouts work?

Depop Payments works a little differently to PayPal and is entirely separate. The "Payout" (aka how you get your money) is slightly different.

  • Payments through Depop Payments sales are added to your Depop Balance
  • This balance is processed through Payouts and sent directly to your linked bank account

 

When are payouts processed?

You can view your next payout date by heading to My Depop > Menu > Depop balance

Your payout will be sent to your bank account 2 working days after the tracking in-app updates to ’Delivered'. If tracking details aren’t provided, your payout will be sent 10 working days after the sale date (Monday to Friday and excluding bank holidays).

You might see a 2-3 day difference in processing times depending on your bank. If payment hasn't been sent to your bank account after 10 working days, please contact Support.

You can read more about how payouts work here.

 

Why is my payment Pending?

‘Payment pending’ means the buyer has paid but your funds are waiting to clear. Once they do, you’ll see them in your available Depop Balance where they will sit safely until paid out to your connected bank account. For more information on how to add a bank account click here.

 

Why is my payment On hold?

'Payment on hold' means the buyer has raised an issue with this purchase. Your funds are being held until that issue is resolved.

 

Why do I have a Negative Balance?

  • A negative Stripe balance can happen if you issue refunds to buyers at a point when your balance is zero or a low amount
  • If you don't have the funds to cover a refund, Stripe will put the account into a negative balance, and any new payments will be used to cancel out the negative balance
  • Payouts should resume normally following more Depop Payments sales and your balance being out of negative!
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