ATTENTION REVERB CUSTOMERS...NEW POLICY

Stretch Riedle

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This popped up today in my email. Looks like a change to how and when we receive our money on Reverb.com.


Hi Reverber,

Thanks for choosing to sell on Reverb. We want you to have the best selling experience possible so we’re constantly evaluating and evolving the tools and services we offer to help you sell gear easier and faster.

What’s Changing


  • On May 19, 2020, Reverb Payments will become the exclusive payout option for all sellers.
  • When an item sells, your funds will simply be deposited directly into your bank account.
  • While PayPal will no longer be a payout option, buyers can still purchase using PayPal and all other payment methods accepted via Reverb Payments.


Please take this opportunity to add or confirm your bank information. Just go to your Shop Settings, add the info under “Reverb Payments,” and you’ll be on your way to getting your funds deposited directly into your pocket. Until you add a bank account, your money will simply stay in your Payout Balance.


Why It's Changing


  • Reverb Payments allows us to provide you with the safest possible experience.
  • All transactions made through Reverb Payments qualify for Reverb Protection, so you'll get direct support from a musician who understands the value of your gear in the unlikely event that anything goes wrong with a sale.
  • Reverb Payments also allows you to accept a wide variety of payment methods, which attracts more buyers and helps you sell gear more quickly.


Have questions? More information is available in Reverb’s Help Center.

- The Reverb Team



Stretch
 

rdumas

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Ha, was just about to post something about it. So you either get it deposited in your bank account or it stays as "reverb cash". I no likey.
 

Fat Drummer

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Yep, not a fan myself! I sell on reverb to fund my pay pal account so I can buy more stuff! My PP account is NOT attached to my bank account because never the two shall meet. I don't use work/household income for toys and try to never use toy money for actual bills.

Well, it's off to the next selling platform then ... oh wait, that's right... i'm not a fan of that one anymore either! I'm just out of luck on this one!
 

bongomania

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Yes, nix to PayPal, they are just predators. I “get” keeping separate accounts for business and pleasure, but instead of letting PP hold my money (which they use for investment to their own benefit) I put my playtime money in an actual bank account that earns interest for ME.
 

Nubs

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Yes, nix to PayPal, they are just predators. I “get” keeping separate accounts for business and pleasure, but instead of letting PP hold my money (which they use for investment to their own benefit) I put my playtime money in an actual bank account that earns interest for ME.
I do something similar. I use Acorns to save up money for buying gear. Bought that new Crush kit with the money in my Acorns. It's basically an online piggy bank.
 

cashmanbashman

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Yep, not a fan myself! I sell on reverb to fund my pay pal account so I can buy more stuff! My PP account is NOT attached to my bank account because never the two shall meet. I don't use work/household income for toys and try to never use toy money for actual bills.

Well, it's off to the next selling platform then ... oh wait, that's right... i'm not a fan of that one anymore either! I'm just out of luck on this one!
Nonsense I will hold and distribute your funds. Call me
 

drumtimejohn

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Nothing quite new. Preferred sellers already have this. Fees are less than with PayPal and you’re cleared from return threats after 10 days, unlike the stupid PayPal 6 month return policy. This will likely clean out less stable sellers too. In summary, sellers will find this to be an advantage.
 
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musicman64

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This popped up today in my email. Looks like a change to how and when we receive our money on Reverb.com.


Hi Reverber,

Thanks for choosing to sell on Reverb. We want you to have the best selling experience possible so we’re constantly evaluating and evolving the tools and services we offer to help you sell gear easier and faster.

What’s Changing


  • On May 19, 2020, Reverb Payments will become the exclusive payout option for all sellers.
  • When an item sells, your funds will simply be deposited directly into your bank account.
  • While PayPal will no longer be a payout option, buyers can still purchase using PayPal and all other payment methods accepted via Reverb Payments.


Please take this opportunity to add or confirm your bank information. Just go to your Shop Settings, add the info under “Reverb Payments,” and you’ll be on your way to getting your funds deposited directly into your pocket. Until you add a bank account, your money will simply stay in your Payout Balance.


Why It's Changing


  • Reverb Payments allows us to provide you with the safest possible experience.
  • All transactions made through Reverb Payments qualify for Reverb Protection, so you'll get direct support from a musician who understands the value of your gear in the unlikely event that anything goes wrong with a sale.
  • Reverb Payments also allows you to accept a wide variety of payment methods, which attracts more buyers and helps you sell gear more quickly.


Have questions? More information is available in Reverb’s Help Center.

- The Reverb Team



Stretch
I have been a reverb seller for about 6 years..loved it..actual people at customer service..great customers and format. BUT...I NEVER GOT AN EMAIL /NOTIFICATION..NOTHING SO.. I sold something last night, and this morning find that" you've been paid" now means "We've been paid...so hurry up and ship and maybe, just maybe in a "while" you might get paid..oh and by the way, You have to pay shipping first..with your own money..and we pay you no interest for keeping your money..we actually charge you to hold it"" Another one bite's the dust. I am cancelling the $1800 sale, keeping the drums here, and the buyer can fight with reverb...seems like the frame of mind that they have.
 

Tanabata

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I truly dislike paypal, but the more I look at this, the less I like it. Feels too big brother to me, I'm done there.
 

NewBeat

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Now that most states are having eBay collect sales tax, have you noticed that PayPal charges the seller their regular fee on the sales tax portion of the transaction?

This is nuts. I can see paying PayPal's fee on the sale amount, as the seller actually receives the cleared funds less the fee, but now the seller is essentially also forced to cover the clearing costs for the collected sales tax portion of the sale (from which the seller benefits in no way whatsoever).
 

musicman64

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It's the way of modern business...where the middlemen actually take control of all transactions, and constantly up their footprint for more profit....IE your money
 

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