So as of 4 Feb, eBay will now hold onto private seller monies until after delivery confirmation which, if there is no such confirmation could be 14 days plus. Private sellers in addition have to request payout (and have since Oct 24 I think).
While there are fixed pay outs dates quarterly if monies aren’t claimed, if you don’t make the effort to withdraw( which let’s face it is an extra task) eBay are clearly earning significant amounts of money (In Interest) by holding onto these monies. This isn’t advertised!
are eBay regulated by the FCA in terms of holding onto these monies as they could be said to be acting like. A bank.
What protection is there for these monies if eBay goes bust (unlikely admittedly but still something might want to know about). is there segregation of sellers monies away from eBay funds so there is an element of protection (this is what happens on PayPal).
any thoughts or answers to this would be welcome!
