ebay Payments - BACS or Faster Payments

[karma_30]

Hi everyone,

I am new to selling on ebay, well six months. Pretty much all my payouts have been processed by Faster Payments, the largest of which was for just under £800. However on Thursday last week, I received a regular notice of a payout c£350 and expected it to drop into my account imminently. It did not. Nothing on friday, Saturday, Sunday, Monday, Tuesday... And nothing today either.

As I am sure you all know, there are two payment systems in the UK. Faster Payments and BACs, Faster payments is great, it runs 24/7 and holidays do not impact it. BACS payments take up to four days and only working days to boot. Its the favourite of people with antiquated banking systems and those who want to earn a few days extra interest on balances.

ebay confirmed that the payout was sent by BACs and I have been trying to find out what the criteria is in the system to determine which payment system is used. Then one can plan.

In this trek I spoke to a very annoying ebay manager who, while admitting that - for a reason she declined to state - ebay chose to send the payout via BACS this time not Faster Payments . When I asked for clarification of the criteria for BACS vs Faster Payment her whole narrative was that it was my banks fault for any delay. She was obviously an intelligent woman who was simply choosing not to understand me or engage honestly. 

Most of the time I am happy and supportive of ebay and the support i get, but then there are times like this and it becomes patently clear that those at the top dont give a rats wotsit about me and are happy to lie and be difficult.

So, in the community what are your experiences with ebays choice of Faster Payments vs BACs ? Is there a rule or logic? 

[ile136yz]

Did you check you Bank Account to see if they are still processing you Payout with it being Easter Holidays?

Also check your 'Transactions'  on the Payments Column of your Hub to see everything is up to date.

[karma_30]

Thanks for the reply. That's a very eBay response & not actually my question. Thanks for taking the time though. 🙂

Tbe question is about the logic rules behind the choice of BACs or Faster Payments. EBay's platform is code, it utilises rules based decision making. 

[plpmr]

eBay does not allow asking for a bank transfer for items that are required to be paid through eBay checkout and bank transfers are not processed by eBay.

[alvisinwales]

On my payout of 2 April my bank account shows Transaction Type: Automated credit

I haven't the foggiest idea whether it came by BACS or FP. How can I tell?

I've always assumed BACS as payments take hours to arrive from when eBay sends me the "We sent your payout" email.

[karma_30]

If the Payout arrives in hours then its sent by Faster Payments, which runs 24/7 every day.

If it takes 3 to 4 days then it is BACS. 

Ebay use both.

The question is....

"What is the decision making on which payment system ebay use and why?"

Why do they choose to send some payments by Faster Payments and others by BACS.....

[alvisinwales]

Looks like mine all come by Faster Payments then as they arrive the same day but I'm surprised they take so long.

So in that case I don't know why you'd get one by BACS or how eBay have decided this.

[karma_30]

That indeed is the question.... Why does ebay choose to send payments by Faster Payments and then inexplicably to then send some payments by BACS.....

Being the grotesque uncaring monopoly they are there is absolutely no answer of explanation just a desire to shift blame / responsibility elsewhere...

[pg_kicks]

You'll never get an answer but I'm pretty sure when we signed up it was advised that it can take upto 4 workings days, I just checked my email this morning and it mentions it there too. I use Starling and get it within 3 hours of the email, the money normally disappears from my balance an hour or so before the email. Payments on Friday and Monday (I believe) all came on the following pay out.

To answer your actual question though the only way you will find out why they use whichever method they do is to get a job in the eBay finance department as there is pretty much slim to no chance of ebay every telling you. We've been asking to have some sort of explanation on the reporting and EDD algorithm for months to try and understand them.

[karma_30]

Hi there PG_kicks - thanks for your message, thats helpful to know. I also agree with you regarding the 'actual question'....

In the meantime I have written to the Companies & Markets Authority asking for their assistance.

[pg_kicks]

Not sure what the CMA can do as yo signed up with the knowledge that payments can take upto 4 business days, pretty sure somewhere in the hundreds of pages they'll even say payments can be 28 days just like refunds. Good luck though.

[micni-6789]

Any luck finding out?

I could only guess it's dependant on your payout schedule. 

If weekly, it's paid the same day each week, so I'd assume they'd use BACS.

If its daily or on demand I'd assume they'd use FPS.

🤷‍♂️