Removal of automatic eBay Payouts

[jbrusby]

So in addition to the expected change to eBay balance, making your available funds usable to purchase other items on eBay immediately, eBay have also announced they're removing automatic payouts entirely. The only way to withdraw funds to a bank account now will be manually. 

eBay claim this allows 'more flexibility', but for those who run actual businesses with business bank accounts that benefit from continual cashflow, having an automated daily payout at a regular time is the best option. For those who make sales mostly in the evening and got a payout overnight, you'll now have to wait up late every evening and make a withdrawal. Without any automation it's just another little time consuming task eBay is outsourcing to the seller. Why can't they have both options, automated and manual payouts?

And if you 'forget' to withdraw they'll only automatically send the funds every 3 months. Sounds like a scheme to enable Ebay to hold onto sellers' money for longer in the 'bank of eBay' so they can invest and make money off it.

Here's the key points from their email:

"With the arrival of eBay balance, we’re also changing how payouts work. The following changes will take effect after a final scheduled payout on 16 October 2024:

- Daily, weekly, bi-weekly, and monthly payout schedules will no longer be offered.

- You can withdraw available funds from your balance on demand.

- If you don’t use or withdraw your balance, we’ll automatically send your available funds to your bank account on the first Tuesday of every January, April, July and October."

[merlinwholesale]

Thanks for the heads up.  More changes!

[bojangled]

@jbrusby 

Ok I thought the end of automatic payments was private sellers only. From the 

Getting paid help page 

"From 16 October 2024, private sellers will no longer have a payout schedule, as part of the launch of eBay balance. eBay balance will let you use the earnings from your sales to pay for items, postage labels, and cover other selling costs on eBay.co.uk. You can still withdraw your payouts on demand to send your funds directly to your linked bank account."

and 

"If you’re a business seller on eBay, nothing will change and you’ll receive your payouts on your usual schedule."

Jo

[jbrusby]

Ah, thanks for that link, glad it's not changing for business sellers. I got confused because they sent the email to my business account, and the link in the email went to a page which didn't make any mention of private sellers. Must have been sent mistakenly.

[merlinwholesale]

Glad it's not changing for us then. Thought it was a bit odd.

[wyntersemporium]

Thank goodness for that - can't be doing anything manually, not at this time. 

[paulwozdec2002]

Just a way of clawing back what they have lost making selling free. This was always in the pipeline, just make us feel better by giving us free selling then later on hit us with another scheme which will take that money back as most people will not have the time or will forget to take the money manually. Just another sly, underhanded  action from ebay!!!

[padanpcparts]

Phew! I was about to lose my s$%t.

[wyntersemporium]

Same if I'm still on eBay 

[vicflick]

I got no email from eBay about this change! I was double-checking my account for the funds. It's a pointless change benefiting no-one apart from eBay.