Reverb Payments

SimpleSimon

just sold an item for the first time since switching from accepting Paypal payments to Reverb payments. 'Recieve payments directly into your bank' it said. Only now to find out i have to ship the guitar and wait until its delivered before they release my payment. To say im not happy is an understatement. At least Paypal funds clear instantly, whilst Reverb are holding onto millions of sellers cash to gain additional interest. It stinks. Im thinking of refunding the guitar- what do you guys do?

tone1

I was also amazed on Reverb that ‘After’ I put an offer in on an item, the seller could change the description and title of the listing....With regard to your issue, it is crafty but does put some impetus in to your speedy-ness of posting.... Some people would drag their heels in posting an item as they already have their money. That and Reverb making a few extra quid to pay for that bloke on YouTube’s perms, beard wax and scarfs

guitars4you

I use Reverb quite a bit - Never a problem - I can understand the trust issue but they are fine - What about the buyer - He has had to pay out for something he has not seen - Depending on where you are sending it, I've known the funds arrive in my account before the guitar has arrived - In my experience 100% safe and sound

Strat54

This explains it....just hope the buyer doesn't find fault and asks for a return! Good luck. Me, I'd rather leave it with a trusted dealer to sell on comms and avoid the likes of ebay and Reverb. 

Is this your first Reverb Payments sale?

You will receive notification of your first payout being approved within 24-48 hours following the delivery of the item according to the tracking information you've provided to Reverb. Following that, it may take your bank 1-3 business days to process that deposit. After your first sale, your payouts will be initiated once tracking is entered and the item is "in transit"

andrewaward

So is Reverb Payment fee free to you the seller?

Strat54

andrewaward said:

So is Reverb Payment fee free to you the seller?

No, they take 2.7% which is .2 below Paypal. There's the 3.5% sale fee on top too. 

guitars4you

andrewaward said:

So is Reverb Payment fee free to you the seller?

only fees on the sale - No sale no fee

SimpleSimon

guitars4you said:

I use Reverb quite a bit - Never a problem - I can understand the trust issue but they are fine - What about the buyer - He has had to pay out for something he has not seen - Depending on where you are sending it, I've known the funds arrive in my account before the guitar has arrived - In my experience 100% safe and sound

Fair point but cant help thinking how much Reverb cream off in interest on buyers/sellers deposits! So i should just suck it up this time and post the item? Fingers crossed .....

hyperben

I thought they only pay you after delivery for the first item you sell. After the first one you get payments before delivery - as soon as a valid tracking number is entered in the dispatch details. So the first sale takes a while to get the funds, but then as quick as you dispatch after that paying out once a week...I think.

Wazmeister

I've just used them for the first time... and had the same response.

All good though, and funds are due 'soon'.

To give you an idea, I sold a pedal for £266 and will get £249.50

JayGee

So it’s effectively an escrow service?

Speaking as a potential purchaser I’m all in favour of that...

Macca_25387

ive bought and sold a couple of bits on Reverb without any hassle. Find it all pretty decent tbh. 

SimpleSimon

Have used Reverb hassle free up until switching payment services, i suppose they are not taking into account my previous trading history despite that being top notch....

57Deluxe

I use Reverb for selling sets of my ME-5 and ROLAND patch programs and although I supply on disc I also offer a download option for a discount. I use Paypal but I get constant bugs from the Reverb system to supply tracking numbers... It just doesn't look good at my record to see that I don't (can't obviously)!

bgmartinsbridge

I used reverb for the first time very recently and waiting for the item to get posted/ arrive.
Got to say I'm a little nervous. 
I know my payment went through straight away, and then the guy said he's been told to ship it but the payment won't get released until later.

soma1975

I think it's fine. A bit annoying to wait for international sales to go through but they take less money than Ebay

SimpleSimon

Have taken the leap of faith, fingers crossed untill tomorrow....

SimpleSimon

All's well, Guitar delivered safely, 5star feedback and cash 'almost' in the bank.....

Moe_Zambeek

Ive sold a bit on Reverb and switched to Reverb payments when it became an option. No
problems thus far other than over-zealous German customs threatening to destroy a fuzz pedal because it had a 9v battery in it...

rossi

Can Reverb grab your money back if a customer complains or scams you .

SimpleSimon

rossi said:

Can Reverb grab your money back if a customer complains or scams you .

I would imagine so, possibly the same or similar model to paypal