Poshmark is a platform for buying and selling new and pre-loved goods online. As a seller, it is a great way to make extra income or even go full-time and replace your income.
So if you’re a Poshmark seller, it’s important to know when and how you will be paid by Poshmark for the item(s) you sold. In this post, we will go over the payout timeline, how to access your balance, and the options you have for receiving your hard-earned cash.
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When Do I Get Paid?
The first step to getting paid on Poshmark is to create a quality listing with a good description and stunning photos. This will attract buyers to your closet and make them more inclined to buy.
Next, you will want to share your item(s) and negotiate with potential buyers by sending offers. You can easily perform both of the above tasks with your trusty Poshmark bot, PosherVA.
Once you land the sale, pack up your item and send it on its way. The sooner you can ship out the item, the sooner you can get paid. Plus, the happier the buyer will be!
During this time, the amount of money you made from the sale will appear as “Pending”. This is due to Poshmark having a process where buyers can open a return case if the item arrives not as described.
But, assuming all things go as planned, the buyer will rate their purchase and the funds will be released to you. If your buyer does not rate the purchase within 3 days of delivery, the transaction will automatically be completed by Poshmark and you will be paid.
What Is Your Poshmark Balance?
To answer the question of how does Poshmark pay you, you need to be able to access your Poshmark balance. To do that, follow these steps:
From the app
- Open the Poshmark app.
- In the bottom right corner, tap the icon above your username.
- In the top right corner, tap the green circle with the dollar sign.
- Here you will see your pending balance, redeemable balance, and any credits you may have on your account.
Payout Options
Once the money has moved from pending to redeemable, it’s time to withdraw your earnings and get paid. Poshmark has multiple options for redeeming your money. So let’s go over each option.
Direct Deposit
If you choose to use direct deposit to get paid by Poshmark, it will typically take 2-3 business days for the money to make it into your account. This does not include weekends and holidays.
In order to set up direct deposit, you will need to follow the above steps to navigate to your redeemable balance. From here, select direct deposit to receive a verification code. Once you enter the correct verification code, you will need to enter your banking information.
This includes your routing number and account number. Typically you can look up these numbers online or within the app to your financial institution. Alternatively, take a look at a paper check you have on hand to obtain these numbers.
Further, you will need to specify whether the account is a checking or savings account. Lastly, enter the name of the account holder. Once you’re finished with these steps, you are ready to receive your direct deposit!
After completing these steps once, it will be saved for all future direct deposits. It will only change if you willingly choose to modify your direct deposit account.
If this is the case, navigate to your redeemable balance via the steps outlined above, select direct deposit, and this time tap “Edit”. You will receive a verification code and be prompted to enter the new information for your account.
Instant Transfer
If you don’t have time to wait 2-3 days or are wanting the money fast, you can opt to use Poshmark’s instant transfer option. When you choose this option, you will receive the money to your eligible debit card within 30 minutes.
However, the trade-off is that you have to pay a small fee for this speedy service. You will be charged a $2 transfer fee that is deducted from your earnings.
Venmo
Venmo is another way to transfer your funds and get paid by Poshmark quickly. To set this up, navigate to your redeemable balance and select Venmo. You will be prompted to enter your phone number that is connected to your Venmo.
Following this, you will receive a verification code to make sure it’s you. Confirm your account and the money will be on its way!
Similarly to instant transfer, you are required to pay a $0.35 fee due to the convenience of this transfer type.
PayPal
PayPal redemption operates in a very similar way when compared to Venmo transfers. You will be prompted to connect your PayPal account via email or phone number.
Alternatively, if you do not already have a PayPal account, you can create one during this process. Like Venmo, you will be charged a $0.35 fee to transfer your funds with this method.
Paper Check
The last option to receive your payout is with a paper check. This method requires you to wait for the longest and arguably takes on some risk by having the check sent through the mail system.
However, this is a good option to have for certain circumstances and preferences. Plus, this is a literal paper trail that you can keep in your files for your own personal and business reasons.
Store Credit
Aside from receiving money from Poshmark to one of your financial accounts directly, you can also do a trade of sorts. If you have something in mind you’ve been eyeing on the site, you can easily pay for it with your Poshmark balance.
Actually, this is the default way to purchase an item if there are funds available in your account. Unfortunately, you don’t receive any extra by putting your funds back into the app. However, it can make shopping on Poshmark convenient.
So now we've answered the question everyone's burning question: How does Poshmark pay you? Luckily sellers have multiple flexible options for redemption to suit any need or situation.
Which Poshmark payout method do you prefer? Have you tried all of the options? Comment below!
FAQ
You can use multiple methods to get your earnings into your bank account. The two primary ways are by using direct deposit and requesting a paper check in the mail. Both of these methods are free, with direct deposit being the quickest option.
A PayPal account is not required to sell on Poshmark. PayPal is just one method of redeeming your Poshmark balance. You can also choose direct deposit to a bank account or Venmo to redeem your earnings.
Generally, the amount of followers you have on Poshmark does not reflect how much money you will make. Whether you have 100 or 100,000 followers, what really matters is the quality and demand of your inventory. Although, having more followers will help you qualify for Poshmark ambassador status which may increase trust and thus sales with future buyers.
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