Currency and Payment Differences on International Poshmark

Poshmark has opened up a global marketplace for fashion resellers, connecting closets with buyers across different countries. While this expansion offers incredible opportunities for growth, it also introduces complexities, particularly when it comes to currency, international payments, and fees.

Selling on Poshmark US from another country, like Canada, means navigating a different currency system and understanding how to receive your earnings without losing a significant chunk to fees and poor exchange rates.

This guide will break down everything you need to know about Poshmark currency differences, how to handle international payments, and what to expect from Poshmark's fee structure. We'll also show you how you can streamline your entire operation to scale your business effectively, even with these cross-border challenges.

Understanding Poshmark Currency by Country

The first step to successful international selling on Poshmark is understanding its currency policy. Poshmark operates separate marketplaces for different countries, and each one functions in its local currency.

The key fact for international sellers to grasp is that if you are selling on the Poshmark US platform, you will be paid in US dollars (USD).

A seller operating on Poshmark.com will probably only be able to accept payment in USD from Poshmark US. This policy is straightforward but has significant implications for anyone located outside of the United States.

If you're a Canadian reseller listing items on the larger US marketplace to access more buyers, your sales will be processed in USD. When Poshmark disburses your earnings, they will be sent in USD. This means you cannot simply have the funds deposited into a standard Canadian dollar (CAD) bank account without a conversion process.

This creates a challenge: how do you receive USD payments efficiently and convert them to your home currency without incurring high fees?

Navigating International Payments on Poshmark

Since sellers on Poshmark US are paid in USD, managing international payments becomes a primary concern. You need a reliable and cost-effective method to handle currency conversion.

Letting a traditional bank handle the USD to CAD conversion, for example, can result in hefty exchange rate markups and hidden fees, which eat directly into your profits. Currency conversion is a main issue you can run into when selling items on Poshmark US from abroad.

Finding a Cost-Effective Solution

To avoid losing money on exchange rates, many savvy international resellers turn to specialized financial technology services. Using Wise is highly recommended for international payments.

Services like Wise are a secure and cost-effective way of transferring funds without incurring hefty exchange rate fees. They are designed specifically for international transfers and currency conversions, making them an ideal tool for Poshmark sellers.

With Wise, you can get local US bank details, allowing you to receive payments from customers and platforms like Poshmark directly in USD, just like a local seller. This sidesteps many of the initial hurdles of international payment reception.

Furthermore, Wise is known for using the mid-market exchange rate—the real rate you see on Google or Reuters—and has a transparent fee structure. This means you know exactly how much the conversion will cost, and you get a much better rate than most banks offer.

For a reseller selling items from Canada on the US market, Wise is a great way to save on international transfers and currency conversions.

The Buyer's Perspective on International Payments

It's also worth noting that the demand for international shopping on Poshmark is strong enough that third-party services exist to help buyers. For instance, services like Planet Express offer a "Shop For Me" service.

When using this service to order from Poshmark, customers can pay Planet Express for the order with a foreign credit card or whatever payment method suits them best. This shows that buyers are actively seeking ways to purchase from other Poshmark marketplaces, highlighting the value of making your products available to them.

Decoding Poshmark Exchange Rates and Seller Fees

While third-party services can solve the currency conversion issue, it's also critical to understand Poshmark's own internal fee structure. These fees are the primary deduction from your revenue, and a recent change has made it more important than ever to know how they work.

In October 2024, Poshmark's fee structure will change. While Poshmark marketed this change as a savings for sellers, an analysis of the new system reveals a more complex reality.

The new structure impacts the "combined Poshmark fee," which is the sum of the buyer fees and seller fees. Poshmark keeps both of these fees, so this combined number represents the total amount the platform takes from each transaction.

For most price ranges, the combined Poshmark fee is actually higher than it was previously. The most significant combined Poshmark fee increases are concentrated in the $0 to $60 item price range—a bracket where many resellers make a high volume of sales.

In its blog post announcing the change, Poshmark used examples of $3 and $300 item prices to illustrate the new fees. However, a broader look shows where sellers might pay more.

Key Fee Thresholds and Changes

Understanding the new fee thresholds is crucial for pricing your items profitably. Here are some key data points from the new structure:

• Poshmark changes its flat fee from +$1 to +$2 at a $15 item price threshold.
• It changes again from a $2 flat fee to a $3 flat fee at a $50 item price threshold.
• At an item price of $96.87, the new combined Poshmark fees are 20%.
• For higher item prices, the combined Poshmark fees are lower than the previous 20% combined fee. For example, at a $500 item price, the combined Poshmark fee is about 15%.

For international sellers, these fees add another layer to the financial puzzle. When your earnings are already subject to currency conversion, a higher-than-expected platform fee on lower-priced items can noticeably shrink your net profit.

Pricing strategy becomes paramount. You must account for Poshmark's commission, potential shipping costs, and currency conversion fees to ensure every sale is worthwhile.

Managing all these financial details, on top of the day-to-day tasks of listing, sharing, and shipping, can be overwhelming. This is where having a powerful, all-in-one tool becomes not just a convenience, but a necessity for growth.

The Reeva Solution: Scaling Your International Resale Business

Juggling different currencies, complex fee structures, and the demands of multiple platforms is a major challenge for any reseller looking to scale. That's why we built Reeva. Our platform simplifies and automates the entire resale process, giving you back valuable time to focus on sourcing, strategy, and growth.

We are designed to accelerate growth for resale businesses, helping them scale with ease. Top resale businesses across the U.S. trust our tools to run their operations, from Nuzzydeals in Denver to TuffNY in New York.

If you're feeling bogged down by manual tasks, our platform is built to set you free.

Ready to see how much time you could save? Start your free trial today and discover a smarter way to resell.

Sell Smarter and Faster Across All Platforms

One of the biggest time sinks for any reseller is creating listings. The process of taking photos, writing descriptions, and filling out item specifics is tedious, especially when you want to sell on multiple marketplaces like Poshmark, eBay, Mercari, and Depop.

Our platform offers a suite of tools designed to optimize your selling process. You can turn photos into complete listings instantly. Simply upload your photos, and our AI will generate titles, descriptions, and prices for you.

With one click, you can then publish your items to all your connected marketplaces without ever switching tabs. Our multi-store support allows you to sell across all your stores simultaneously, maximizing your visibility and reaching more buyers effortlessly.

FabFam, a resale business from Washington, shared their experience: "Reeva has cut my listing time by more than half. I can take photos, voice-to-text my details, and let Reeva handle the rest."

Save Time with Powerful Automation

Success on platforms like Poshmark requires constant activity. You need to share your items, send offers, and relist old products to keep them visible. Doing this manually is a full-time job in itself.

We automate these critical tasks to boost your visibility and maximize sales. Our system can automatically share your products on Poshmark, send personalized offers to potential buyers, and relist stale products to push them to the top of search results.

Crucially, our platform also instantly delists sold items across all marketplaces. This prevents you from overselling an item that has already been purchased elsewhere, which is a major risk for multi-platform sellers.

AlistairBP, a reseller based in Georgia, couldn't imagine working without this feature. "The feature I use 100% the most—and couldn't live without—is the AUTO-DELIST feature," he says.

Grow Your Business with Ease

As your business grows, so does the administrative workload. Managing hundreds of listings, tracking sales, and handling accounting can quickly become unmanageable. Our management tools are built to help you grow and scale efficiently.

You can update and manage hundreds of listings in bulk with ease. Our powerful business analytics help you track sales and profits, so you always know how your business is performing. For those with a team, our multi-user account options allow you to give team members access to the platform.

TuffNY from New York explains the impact on their business: "I've cut down my admin time by at least 30%, which has allowed me to source more products and expand my offerings."

Tired of admin work holding you back? Let us automate it for you. Try Reeva for free.

Full-Service Accounting Built for Resellers

For international sellers dealing with different currencies and fees, accurate bookkeeping is non-negotiable. Traditional spreadsheets are prone to errors and incredibly time-consuming. Our platform includes full-service accounting tools designed specifically for the needs of a resale business.

You can connect your bank accounts, and we will automatically record your transactions, expenses, and fees. For record-keeping and audit protection, you can simply upload a photo of a receipt and attach it to the corresponding transaction.

Our system automatically categorizes your income, fees, and expenses, which simplifies tax filing immensely. You can also generate clear profit and loss reports to help you make smarter, data-driven business decisions.

As PCT Vintage Finds from Florida put it, "No more spreadsheets. My bookkeeping is now all automated thanks to Reeva accounting."

Access Your Business Anytime, Anywhere

Your business doesn't stop when you step away from your computer. We allow you to manage your business seamlessly on mobile, desktop, or tablet. You don't need a Chrome extension or to keep your laptop running for our automations to work.

This flexibility is a game-changer. AlistairBP, who now manages around 1,000 listings and sells 10-15 items a day, says, "Being able to manage my entire reselling business through my iPhone is truly industry-leading—nobody else does it to this degree."

Conclusion: Conquer International Selling with the Right Tools

Selling on Poshmark internationally presents a fantastic opportunity, but it requires a solid understanding of the platform's currency and payment systems. By knowing that Poshmark US pays in USD, using a service like Wise for cost-effective currency conversion, and staying aware of the platform's fee structure, you can protect your profits and operate successfully across borders.

However, managing these financial details on top of the daily grind of listing, sharing, and cross-posting can stifle your growth. The key to scaling is to automate and simplify your operations wherever possible.

That's where we come in. Our all-in-one platform is trusted by top resellers to handle everything from AI-powered listing creation and cross-platform syncing to automated tasks and full-service accounting. We empower you to spend less time on admin and more time on what truly grows your business.

Ready to stop juggling spreadsheets and manual tasks? It's time to run your resale business with ease. Start your 7-day free trial of Reeva today and see how we can help you scale.