Cancelling after purchase

[csma4600]

I had an item for sale on a buy it now, it sold yesterday. I hadn't realised the buyer had paid for the item, I wanted to do cash on collection(I'm new to ebay) I messaged him and his money is pending in my account, I tried to cancel, he then requested to cancel and selected option 'refusing to sell'  I then selected Refund the buyer but it's now asking for my bank details again. The £600 is showing as pending, but worries me as I don't want the £600 to come out of my bank account. Don't know what's right etc but also don't want my buyer to be out of pocket. Please help and advise 

[jckl1957]

You have got yourself into a bit of a mess here.

The first thing to know is that you cannot ask for cash on collection when you sell on Ebay.  This is a fairly recent change, but buyers have to pay through Ebay checkout.

When you cancel a sale, you have to refund the buyer.  Funds generally come out of your bank account even if the money from the buyer is still on hold. Then, the payment from the buyer would be released and you would be repaid.  There can be a gap between these two things happening so you would be out of pocket for a short time.

If you don't add your bank details, I assume Ebay would pay the buyer back from your pending funds.  However, I would also assume this could affect your ability to sell on the site.  You have to have a linked bank account with a direct debit set up in order to be able to sell on Ebay.

It is too late now, but your best option would have been to allow the sale to go through.  You had a willing buyer who paid you a large amount of money - cancelling the sale was not a good move.

[tressygirl]

Best to know the rules of eBay especially if you start with selling such an expensive item.

Cash is not allowed for collection items.

The buyer correctly paid you through eBay checkout, and this payment would be released to you after tracking shows delivery or for a collection item a QR code is scanned to show collection.  As it is a large amount and you are a new seller,  they may have been a longer hold,  for security reasons.

If you have cancelled  the sale,  the reasons given will give you a damaging defect on your account,  eBay will use  your back up system which is usually your bank account to refund your buyer, as the money is not yet in the Available section in your Payment Summary.  This is what we signed up to on eBay as sellers.

Once the refund is made,  the money from the payout will soon be released.

@csma4600