Depop is making a big change to payments within weeks – fans are fuming
DEPOP is making a big change to payments within weeks and fans are really not impressed.
The online marketplace is poised to axe PayPal as a payment method on its app, leaving buyers and sellers alike fuming.
It comes as Depop makes the move to transition fully to its own payment method of Depop Payments.
PayPal will no longer be an option for shoppers as of October 23.
Depop Payments, which hopes to streamline the selling process and is thought to be the primary system used by most users, is set to hit all app users across both the UK and the US.
Both buyers and sellers will need to set up Depop Payments in their own account prior to the axing date to continue to use the app.
PayPal shipping labels will also no longer be available to UK and US sellers from October 23, instead you’ll need to use Depop shipping.
Depop users have taken to social media to express their outrage at the change.
Sellers appear to be mainly concerned that Depop Payments take longer to go through than PayPal.
With PayPal, funds are typically available in your account immediately, but it can take two to three business days to transfer the funds to your bank account.
While with Depop Payments, the cash will be sent from your Depop Balance, to your linked bank account ten working days after the sale.
One seller wrote: “Depop removing PayPal is so sh***y like I’m going to get paid 36,592 years later after making a sale now.”
Another posted: “Depop transitioning to only Depop Payments and removing PayPal as a payment option is such a sh**e move imo [in my opinion].
“Let me tell you that I’ve never had issues with PayPal but it took like 2+ weeks for me to get my money from Depop Payments…”
A third said that they are “unmotivated” to keep using the platform.
They wrote: “Down the f****ng tubes Depop goes. What a terrible, terrible decision.
“PayPal is the ONLY way sellers are able to get paid in a timely manner.
“It’s the ONLY fair way to get sellers paid. Depop’s 10-day payout system is absolutely bunk. Really unmotivated to continue using it.”
Others looking to sell items on the app were equally unimpressed at the decision.
One seller posted: “I was about to try to resell skincare I am allergic to on Depop and they just sent an email saying they’re removing PayPal, it was already too easy for people to scam on that app…”
And another wrote: “Depop removing PayPal as a payment method is so stupid. I most likely won’t be using it anymore!!!”
A third said: “I guess I have to stop selling on Depop ’cause they are taking the PayPal option off.
“They app has continuously gone down the drain.”
Meanwhile, many buyers are also unhappy with the change, with one vowing to stop using the platform due to the safety PayPal provides.
They commented: “Depop removing PayPal is such a slay cause it means I will never spend on there again – saving moneyyyy, f**k Depop for removing the safety feature of PayPal.
“You’ve lost yourself another customer now having read you’re dropping PayPal. Bad move.”
Not everyone was unhappy about PayPal being axed though.
One buyer said: “Depop removing PayPal payments is the best thing to happen since Avenged Sevenfold dropped Nightmare.”
And another said: “Depop finally got rid of PayPal as their only payment choice…shopkerry is back baby.”
Depop Payments will soon be the only way to pay for anything on the site and the platform aims to “streamline” all transactions through the change.
It also hopes that being able to handle disputes and other requests directly will be beneficial to both buyers and sellers.
A Depop spokesperson said: “At Depop, we’re always working to provide the most streamlined and efficient buying and selling experience for our community.
“Depop Payments allows all transactions to be kept within Depop and means we can handle any disputes or refund requests directly.”
It means sellers will need to connect their shop to the method, and buyers can pay with Apple Pay, Google Pay, credit and debit cards, and Klarna.
It’s free to set up but the platform will take a fee of 10% and a transaction fee of 2.9% plus 30p when sellers make a sale.
PayPal charges the same transaction fee and may also charge an additional 1.29% seller service fee for UK-EU transactions.
PayPal sellers and buyers should bear in mind, is the different complaint procedures for both the payment methods.
If an item was paid for using PayPal, users will need to follow PayPal’s dispute resolution process.
But, if the item was sold and paid for using Depop Payments, you can settle any issues with the transaction through Depop.
Below we explain how other apps compare and the fees involved.
How do other apps compare?
Of course, if you’re unhappy with Depop axing the PayPal payment method, there are other options to consider.
These include the likes of Vinted, eBay and Etsy.
There are also some things to consider when you choose to sell items online.
For example, some platforms charge sellers a fee or take commission that can eat into profits.
On Etsy, there is a 16p listing fee, 6.5 % transaction fee, 4% + 20p payment processing fee to take into account.
You can list up to 1,000 items a month on eBay for free.
You’ll pay a commission of 12.8% on what you sell, plus a 30p fee.
Facebook Marketplace is an easy way to sell to local buyers using your Facebook account.
Most users are looking for a bargain, so you might not get a high price, but it’s fairly hassle-free and you don’t pay commission or listing fees.
Meanwhile, two savvy shoppers have revealed how they bought a t-shirt for £2 from a charity shop – but resold it for £220 on Depop.
Plus, a mum has revealed how she makes £800 a month just by selling her family’s worn clothes on Vinted.
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