Everyone likes getting paid. Meeting up to complete an in-person transaction typically results in walking away with cash in your hand, but what happens when you’ve shipped your item? How and when do you get paid? Let’s chat about that. We’re here to go over the process of getting paid using OfferUp’s shipping feature.
After an offer had been accepted by the seller, the funds from the buyer are collected using our 3rd party payment processor, Stripe, and they have four days to ship the item off, and mark the item as shipped. Once the buyer receives their package, they have three days to inspect the item. Keep in mind that it will take a couple days for the item to ship in the mail. The buyer has 3 days to either rate the transaction or open a Buyer Protection claim. At the end of this 3 day period, the funds collected by Stripe are then released to the seller.
When the money has been released, it will automatically be transferred to your debit card or bank info if you have your card or bank info saved to your account. This transfer should be complete within five business days. If there’s a holiday in that timeframe, that may cause an additional delay. If you don’t have your credit card or bank info saved, this can also cause delays, as the funds will remain in a pending state until you add that in. Details on how to upload payment info here.
Let’s play this out with the maximum allotted time...
It’s the 1st of the month and you accepted an offer to sell your limited edition collector's item to Fred. As the seller, you have up to four days to get that item sent out. You send it out on the 4th. The item is in transit and arrives at Fred's on the 7th. Fred has three days, or until the 10th, to evaluate the item and give you a rating. Unfortunately, this time, it looks like Fred didn’t give a rating, and the funds are released after the three day period, on the 10th. Once the funds have been released, you should see them in your bank account within 3-5 business days, no later than the 15th.
Fees? What fees?!
Because we’re giving sellers the option to get their item in front of millions of potential buyers across the country, we charge a low 7.9% transaction fee. There’s no fee for the buyer, except to pay for the cost of shipping. As always, local in-person transactions are free for both parties. Other companies who offer similar services charge anywhere between 10% to 20%, so we feel great about the value we’re providing to our community.
My deposit says pending! Help!
If your completed transaction says that your deposit is pending, typically you won’t need to take any further action aside from being patient If you believe the process is taking longer than usual, or you have other questions, our Payments & Shipping team are standing by to assist. Please note that you only have to reach out to them once. Writing in multiple times will result in a delayed response (your last communication gets bumped to the back of the line), especially if several people are all writing in several times. If you've submitted a ticket regarding the shipping feature, our Payments & Shipping team has received it and will respond ASAP - promise.
One last thing to note - please remember that this feature is brand new. We’re working hard to make everything as seamless as possible, but with any new launch, there may be a few hiccups. If you happen to come across an issue, give us feedback that we can pass onto our product teams so we can build an experience that you love. We’re actively listening and passing on the constructive criticism we receive.
What would you like to learn more about with our shipping feature? Comment below so we can decide what blog to write up next.
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