How to Set Up and Use Depop Payments: A Seller's Checklist

How to Set Up and Use Depop Payments: A Seller's Checklist

Selling on Depop is an exciting way to find new homes for your unique items and build a thriving resale business. To make the process smoother for both you and your buyers, Depop introduced Depop Payments. This integrated payment system is essential for any serious seller on the platform.

However, navigating the setup process can feel complicated. Understanding the requirements, fees, and payout schedules is critical to ensuring you get paid promptly and manage your business effectively.

This comprehensive guide will walk you through everything you need to know. We'll cover how to set up Depop Payments, how to activate Depop Payments, what to expect from the fee structure, and how you can streamline your entire resale operation to scale your success.

What is Depop Payments?

Depop Payments is the platform's own payment gateway, designed to create a more seamless checkout experience. It allows buyers to purchase your items using a variety of popular payment methods directly within the Depop app.

For buyers, this means they can use Apple Pay, Google Pay, or their credit and debit cards to complete a purchase quickly and securely. This convenience can lead to more completed sales for you as a seller.

For sellers, Depop Payments offers several key advantages:

• Direct Payouts: Your earnings are paid directly into your connected bank account, simplifying your cash flow.
• Centralized Management: You can view all of your sales and issue refunds without ever needing to leave the Depop app.
• Increased Trust: An integrated system provides a professional and secure experience for your customers.

It's important to note that the Depop Payments feature is not available to every Depop user at once. The platform is gradually releasing it to more of the Depop community over time.

How to Set Up Depop Payments: A Step-by-Step Guide

Getting your account ready for Depop Payments involves a few key steps to ensure your identity is verified and your funds have a place to go. Completing this process is necessary to receive your earnings from sales.

Step 1: Provide Your Personal Details

The first part of the Depop Payments setup is providing basic information to create your payments account. This is required to start selling with Depop Payments.

You will need to add the following personal details:

• Full Name
• Address
• Email
• Date of Birth
• Phone Number

This information is used to establish your account with Stripe, Depop's payment processor.

Step 2: Connect Your Bank Account to Get Paid

Simply making a sale isn’t enough to get the money into your hands. To receive payouts, you must connect a valid bank account to your Depop Payments account.

Your sales proceeds will sit safely in your Stripe balance, but they cannot be paid out until you provide a bank account for the transfer.

Step 3: Verify Your Identity

To fully activate Depop Payments and unlock payouts, you must also verify your identity. This is a standard security measure to prevent fraud and comply with financial regulations.

You will be prompted to upload a photo of a valid government-issued ID. This finalizes the verification of your Stripe account, which is mandatory for receiving funds.

How to Complete Your Setup

Depop makes it easy to find where you need to complete these steps. After you make your first sale, Depop will send reminders to finish setting up your account.

You can tap on the 'Get your money' red banner, which is prominently displayed on your profile page in the app. Alternatively, you can tap on the push notifications that Depop sends to guide you through the process of verifying your identity and adding your bank details.

What If I'm Under 18?

To have a Stripe account for Depop Payments, you must be over 18 years old. However, Depop has made provisions for younger entrepreneurs.

If you are under 18, you can still set up Depop Payments by using a parent or guardian's information. You will need their permission and will use their ID for the verification step. This ensures that a responsible adult is connected to the account, allowing you to sell safely and legally on the platform.

Understanding Depop Fees

A crucial part of running a profitable resale business is understanding the fees associated with each sale. Depop's fee structure varies depending on your location and how the buyer pays.

All fees for sales made through the 'BUY' button are applied automatically. If a sale is refunded, all associated Depop fees, including selling, payment processing, and boosting fees, are reversed automatically for Depop Payments transactions.

Depop Selling Fees vs. Payment Processing Fees

It's important to distinguish between two main types of fees: the Depop selling fee and the payment processing fee.

For sellers based in the UK and US, there are currently no Depop Selling fees. You only pay a payment processing fee.

For sellers outside of the UK and US, a Depop Selling fee of 10% applies. This is calculated on the item sale price (excluding taxes) and the shipping cost if you don't use a Depop Shipping label. These sellers also pay a separate payment processing fee via PayPal, which can vary by location and account type.

Payment Processing Fees by Region

The payment processing fee is charged by the payment provider (Stripe for Depop Payments, or PayPal) for handling the transaction. This fee is calculated on the total transaction amount, which includes the item price, shipping costs, and any applicable taxes.

For sellers using Depop Payments, all fees are deducted from the sale total before the remaining balance is paid out to your bank account. This makes accounting simpler, as you receive the net amount.

Boosted Listings Fee

If you use Depop's Boosted Listings feature to increase visibility, an additional fee of 8% applies. This fee is charged on the item's sale price and shipping (if not using a Depop label), but not on taxes. This is an optional fee only incurred if you choose to boost a specific listing.

Managing Payouts and Timelines

Once your account is fully set up and verified, you can start receiving payouts from your sales. It's helpful to know the typical timeline so you can manage your finances.

After a sale, the payment is processed and added to your Stripe balance. Payouts are then transferred to your bank account. If you have not received a payment into your bank account 10 business days after a sale, the first step is to double-check that your payment details are correct and that your account is fully verified.

Remember, no payouts will be sent until you have a verified Depop Payments account with a connected bank account.

Scale Your Resale Business Beyond Depop with Reeva

Setting up Depop Payments is the first step, but truly growing a resale business requires efficiency, organization, and strategy. As you start selling more, you'll find that tasks like creating listings, managing inventory across multiple platforms, and handling daily engagement can consume all your time. That's where we can help.

Our platform is designed to simplify and automate the complexities of running a resale business, giving you back valuable time to focus on sourcing inventory and making sales. For sellers on Depop, Poshmark, eBay, and Mercari, our tools are built to accelerate growth and help you scale with ease.

Top resale businesses like Nuzzydeals, Vintage Vault WV, and TUFFNY trust our platform to power their operations. See how we can transform your workflow.

Sell Smarter and Faster, Not Harder

Listing is often the biggest bottleneck for resellers. We've built tools to make it faster and more efficient.

You can turn photos into complete listings instantly. Just upload your photos, and we'll use AI to generate optimized titles, detailed descriptions, and suggested prices. As FabFam, a reseller from Washington, says, "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."

Once your listing is ready, you can publish it everywhere with a single click. Our platform allows you to list your items on all major marketplaces without endlessly switching between tabs. This multi-store support helps you reach more buyers and maximize your sales potential effortlessly.

Save Time with Powerful Automation

Imagine your business running smoothly, even when you step away. Our automation tools make it possible.

You can automatically delist sold items across all platforms, preventing the nightmare of overselling. AlistairBP, a seller from Georgia who now sells 10-15 products per day, says, "The feature I use 100% the most—and couldn't live without—is the AUTO-DELIST feature."

Our platform can also automatically share your products on Poshmark to boost visibility, send personalized offers to interested buyers, and relist stale products to keep them fresh in search results. These automated tasks work in the background to maximize your sales while you focus on other things.

Grow Your Business with Ease

As you scale, management becomes more complex. Our platform provides the tools you need to stay in control.

You can update and manage hundreds of listings in bulk, track your sales and profits with powerful business analytics, and even give team members access with multi-user account options. TUFFNY from New York notes, "I've cut down my admin time by at least 30%, which has allowed me to source more products and expand my offerings."

We even offer full-service accounting tools. Connect your bank accounts to automatically record transactions, categorize income and expenses for easy tax filing, and generate clear profit and loss reports. Say goodbye to messy spreadsheets and make smarter business decisions based on real data.

Are you ready to stop juggling tasks and start growing your business? Start your free 7-day trial of Reeva today and see how much time you can save.

Conclusion

Depop Payments is a fundamental tool for any seller looking to build a presence on the platform. By following the steps to provide your details, connect your bank, and verify your ID, you can ensure a smooth and professional process for getting paid.

Understanding the fee structure is equally important for pricing your items profitably. For sellers in the US and UK, the absence of a Depop selling fee is a significant advantage, leaving only the standard payment processing fee.

But setting up your payment system is just the beginning. To truly succeed and scale your resale business on Depop and beyond, you need tools that work as hard as you do. Our platform offers a complete solution to automate listings, manage cross-platform sales, and handle your accounting, all in one place.

If you're ready to reduce your admin work, increase your listing speed, and grow your sales, then it's time to see what our platform can do for you. Start your free trial today and take the next step in building the resale business you've always wanted.