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How Do I Get My Money From Poshmark? Your Guide to Cashing Out

So, you’ve successfully sold an item (or several!) on Poshmark, congrats! Now for the best part: getting your hands on that hard-earned cash. The process is straightforward, but understanding the nuances ensures a smooth and speedy withdrawal. In a nutshell, you get your money from Poshmark by redeeming your earnings balance via direct deposit to your bank account or by requesting a check. Let’s unpack that. Once your buyer receives their order and Poshmark releases the funds (typically 3 days after delivery), your earnings will appear in your Poshmark account balance. From there, you can initiate the withdrawal process, selecting your preferred method.

Setting Up for Success: Before You Sell

Before diving into the nitty-gritty of cashing out, it’s crucial to have your payment settings configured correctly. A little prep work here will save you headaches later.

Linking Your Bank Account

For the fastest and most convenient way to access your funds, connecting your bank account to your Poshmark account is highly recommended. Here’s how:

Go to your Account Settings.
Select “Payment Settings”.
Click on “Add Bank Account”.
Enter your bank account details: routing number, account number, and account holder name.
Poshmark may use a micro-deposit to verify your account. This involves them sending a very small amount of money (think pennies) to your account, which you’ll then confirm within Poshmark.

Accuracy is paramount here. Double and triple-check those numbers! Incorrect information can lead to delays and complications.

Requesting a Check

While direct deposit is generally the preferred method, Poshmark also offers the option of receiving a check. This might be useful if you don’t have a bank account or prefer the tangible nature of a paper check. However, be aware that check requests typically take longer to process and arrive via mail and may incur a small fee. To request a check:

Go to your Account Settings.
Select “Payment Settings”.
Choose “Request Check”.
Confirm your mailing address. Poshmark will send the check to the address on file, so ensure it’s accurate.

Cashing Out: Turning Earnings into Reality

Now for the fun part! Once your funds are available in your Poshmark account, here’s how to initiate the withdrawal.

Redeeming Via Direct Deposit

Go to your Account Settings.
Select “Payment Settings”.
Click on “Redeemable Balance”. This will show you the amount of money you have available for withdrawal.
Click “Request Direct Deposit”.
The funds will be deposited into your linked bank account. Processing times vary, but generally, it takes 1-3 business days.

Redeeming Via Check

Go to your Account Settings.
Select “Payment Settings”.
Click on “Redeemable Balance”.
Click “Request Check”.
Confirm your mailing address.
A check will be mailed to your address. Expect a longer wait time compared to direct deposit, typically 7-10 business days.

Troubleshooting Common Issues

Sometimes, even with the best preparation, things can go awry. Here are some common issues and how to address them:

Delayed Direct Deposits

If your direct deposit hasn’t arrived within the expected timeframe (3 business days), here are some steps to take:

Verify your bank account information: Double-check that the routing and account numbers are correct.
Contact Poshmark Support: If your information is accurate, reach out to Poshmark’s support team. They can investigate the transaction and provide updates.
Check for bank holidays: Bank holidays can sometimes delay processing times.

Incorrect Mailing Address for Checks

If you realize your mailing address is incorrect after requesting a check, immediately contact Poshmark Support. They may be able to intercept the check and update the address, but time is of the essence. If the check has already been mailed, you may need to wait for it to be returned to Poshmark and then request a new one with the correct address.

Insufficient Funds

Make sure you’ve met any minimum withdrawal requirements that Poshmark might have in place. This is generally not an issue, but it’s worth checking.

Poshmark FAQs: Cashing Out Edition

Here are 12 frequently asked questions about getting your money from Poshmark, designed to address any lingering questions.

How long does it take for Poshmark to release my funds? Typically, Poshmark releases your funds 3 days after the buyer receives their order. This allows the buyer time to inspect the item and ensure satisfaction.
Is there a minimum amount I need to have in my account to cash out? Poshmark generally does not have a minimum cash-out amount, but this is subject to change. Always refer to the current Poshmark terms and conditions for the most up-to-date information.
What happens if my bank account information is incorrect? If your bank account information is incorrect, the direct deposit will likely be rejected by your bank. Poshmark will then notify you, and you’ll need to update your information and resubmit the withdrawal request. This will delay the process.
Can I cancel a redemption request after I’ve submitted it? Once a redemption request is submitted, it may not be possible to cancel it. It’s best to double-check all information before confirming the request. Contact Poshmark Support immediately if you need assistance.
Does Poshmark charge any fees for cashing out? Poshmark takes a commission from each sale. The commission is $2.95 for all sales under $15. For sales of $15 or more, Poshmark’s commission is 20%. They do not currently charge fees for direct deposits; however, requesting a check may incur a small processing fee.
What if my check gets lost in the mail? If your check gets lost in the mail, contact Poshmark Support. They will likely need to cancel the original check and issue a new one. This process can take some time.
Can I use a prepaid card for direct deposit? Generally, Poshmark does not support direct deposit to prepaid cards. You’ll need to use a traditional bank account.
How do I change my bank account information on Poshmark? Go to your Account Settings, select “Payment Settings”, and click on “Edit Bank Account”. You can then update your routing number, account number, or account holder name.
What if I move and need to update my mailing address for checks? Go to your Account Settings, select “Address Book”, and update your mailing address. Make sure to do this before requesting a check to ensure it’s sent to the correct location.
Is it safe to link my bank account to Poshmark? Poshmark uses secure encryption to protect your financial information. However, it’s always a good idea to practice safe online habits, such as using a strong password and monitoring your bank account for any unauthorized activity.
Can I cash out my Poshmark balance to PayPal? Currently, Poshmark does not offer PayPal as a cash-out option. You can only redeem your balance via direct deposit to a bank account or by requesting a check.
What do I do if Poshmark Support doesn’t respond to my inquiry? Poshmark Support can sometimes be overwhelmed with requests. If you haven’t received a response within a reasonable timeframe (2-3 business days), try contacting them again. You can also try reaching out to them on social media platforms like Twitter, as this can sometimes expedite the process. Be patient and persistent!