How to Get Your Money From Poshmark Sales
Navigate the Poshmark payout process with ease. Learn how to effectively manage and withdraw your sales earnings into your account.
Poshmark is an online marketplace where individuals can sell new or gently used clothing, accessories, and home goods. After successfully selling an item, understanding how to access the earned funds is a common next step. This guide will walk through the process of understanding your earnings, selecting a payout method, initiating a withdrawal, and receiving your money from Poshmark sales.
Understanding Your Poshmark Earnings
When an item sells on Poshmark, your earnings are calculated after the platform’s commission is applied. For sales under $15, Poshmark deducts a flat fee of $2.95 from the final sale price. For sales of $15 or more, Poshmark’s commission is 20% of the sale price. This commission covers payment processing, customer support, and the provision of a pre-paid shipping label.
Once a sale is complete and the buyer receives and accepts the item, or after a three-day inspection period passes, the net earnings are released into your Poshmark account balance. These funds are held in your account until you decide to withdraw them. The balance reflects the amount available for redemption, distinct from pending funds from recent sales.
Choosing Your Payout Method
Poshmark offers sellers two primary options for withdrawing their earnings: direct deposit to a bank account or a physical check. Each method requires specific information and depends on individual preferences for speed and convenience.
For direct deposit, which is an electronic ACH transfer, you will need to provide your bank account number and the routing number. It is important to use the electronic routing number and not a wire transfer routing number or numbers from a direct deposit slip.
If you prefer a physical check, Poshmark requires a valid mailing address where the check can be sent. This method can be suitable for those who do not wish to link a bank account directly to the platform.
Initiating a Withdrawal Request
To begin the withdrawal process, you will navigate to your account within the Poshmark application or website. Accessing your financial summary is typically done by selecting your Account Tab, then choosing “My Balance.” Within this section, you will locate the “Redeemable” balance, which represents the funds available for transfer.
Upon selecting “Redeemable,” Poshmark will present options for fund redemption. You will then select your desired payout method, such as “Bank Direct Deposit” or “Check Request.” If you have not previously set up your banking details or mailing address, the system will prompt you to enter this information at this stage.
After choosing the method, you will specify the amount you wish to withdraw, up to your full redeemable balance. Poshmark may require a verification code to confirm the request, which helps secure your transaction. Reviewing all entered details for accuracy before submitting the request helps avoid processing issues.
Receiving Your Funds
After submitting a withdrawal request, Poshmark processes the transfer of funds. Direct deposits typically take approximately 2 to 3 business days to appear in your linked bank account. This timeframe does not include weekends or holidays. If there are errors with the account information, the process may be delayed, potentially requiring five business days for the bank to reject the request before you can correct the details.
For those who opt for a check, the delivery timeframe is generally longer, with checks typically arriving via mail within one to two weeks. Poshmark usually sends an email confirmation once the funds have been dispatched or the check has been mailed, providing an update on the status of your withdrawal. While Poshmark does not specify a minimum withdrawal amount, sellers can choose to withdraw their entire redeemable balance or a partial amount.