"At Etsy, supporting our sellers is our highest priority, and we understand how important it is for these small businesses to be able to receive their funds when they need them,” an Etsy spokesperson told me via email on Saturday.
“We recently experienced a delay in issuing payments to some sellers related to the unexpected collapse of Silicon Valley Bank. Our teams have been working around the clock to implement a solution, and we expect to pay sellers via our other payment partners within the next several business days,” the statement continued.in an effort to let sellers know it’s working on the problem.
Silicon Valley Bank collapsed on Friday after a traditional run on the bank was started by billionaire Peter Thiel, who reportedly gotbefore the bank was taken over by the federal government. The Federal Deposit Insurance Corporation was founded in the 1930s after bank failures in 1929 kicked off the Great Depression and that same program will now be in charge of trying to administer services to SVB’s customers.
Its
Sounds like Etsy needs a side hustle
Has Etsy considered making a bank at home?
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Etsy delays paying sellers because it was using Silicon Valley BankInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Etsy sellers are not getting paid after Silicon Valley Bank collapseSome Etsy sellers are still having trouble accessing funds tied to Silicon Valley Bank and they don't know when they'll get them Lyft uber win appeals👍
Source: BusinessInsider - 🏆 729. / 51 Read more »