Upcoming payment changes.

[prelovedtreasures-3]

I have seen that in a few weeks the funds from sales will sit in eBay account until they get used.

does anyone have more information on this.

I am just trying to understand how this will work and whether the money will still be able to go to my bank account. 

Very much intrigued by this update.

[tressygirl · Accepted solution]

Here we go,  here's the new info,  on the eBay Balance:

From 16 October 2024, we’re introducing eBay balance, a new way to use your funds after you sell. You’ll be able to use your funds to shop directly on eBay or pay for things such as delivery labels, promote your listings, or to cover any selling needs.
Alternatively, you can withdraw available funds from your balance to your bank account - payment holds may apply. As your funds will be stored in your eBay balance, daily, weekly, bi-weekly, and monthly payout schedules will no longer be offered.

@prelovedtreasures-3 

[sml192]

https://www.ebay.co.uk/help/selling/spendable-funds/ebay-balance?id=5305&st=3&pos=1&query=eBay%20bal...

Receiving payouts

You can request payout of all or part of your available funds to your linked bank account at any time.

Simply select your eBay balance shown on My eBay within the app. Alternatively, you can select eBay balance on the payment tab in Seller Hub or My eBay, and select Withdraw.

[stimpson1970]

Another change nobody asked for. And when you withdraw funds from eBay it will take several days instead of arriving in your bank next day?

[prelovedtreasures-3]

you're right, it's hard to keep up when they are constantly changing things. It's been a headache of late. The amount of changes that have happened this year. 

[ccccchhrriis]

Whats the catch is my thinking?

[prelovedtreasures-3]

I concur. That's been nawing at me too

[stimpson1970]

I'm guessing the catch is that by keeping hold of your money for longer, they gain more interest from it. Ebay have nothing but contempt for smaller sellers. They start every update with "Good news!" - it never is. Has anyone tried contacting customer service lately? If you're unlucky enough to get through, they will just treat you like an idiot. In nearly 20 years, eBay has never solved a single issue in my favour.

[thesmokingrunner]

The catch, stimpson1970, is that from 16th October eBay will be keeping hold of your money until you request it to be transferred to your bank account. And as scheduled transfers will no longer take place after that date it will require proactive action by the eBay account holder to transfer any funds.

According to the Help&Support page

https://www.ebay.co.uk/help/selling/spendable-funds/ebay-balance?id=5305&st=3&pos=3&query=eBay%20bal... it will take up to 2 days for sale proceeds to be credited to an eBay balance and up to 4 days for an eBay-to-bank transfer. Incidentally these are working days, not calendar days.

The bottom line is that after 16th October an eBay account will have to request transfers each and every time, and each transfer could take up to a calendar week. Ahh, the price of progress...

[prelovedtreasures-3]

I unfortunately have to somewhat agree with you. I started eBay about 4 years ago and I am now kinda regretting it as selling is becoming increasingly harder as in regard to trying to make a profit.

While they take off a good deal of that in fees which is understandable but I feel sometimes they get a bit greedy. And then there is the constant updating of the listing template page and they just leave you to try and figure it out on your own. When you've finally found your way around the new listing appearance they change it again. And now it's got to a point that eBay is no longer user friendly. Like why cabin luggage has to be included when there was nothing wrong with having, small, medium and large options for parcels. Why all of a sudden is it now free to sell, when they have been charging us the sellers for years and taking a percentage of our profit. What is the catch. That's always the question now when they change something. 

Now don't get me wrong, I understand change is sometimes necessary. But they change things in a way that actually makes things harder rather than easier. I just feel they are trying to push away sellers like me who are not a big business. I just sell from my home. At the end of the day I do want to make a profit. But my main goal isn't just selling for financial gain but to give more love to my preloved items. It makes me feel good knowing that the things I no longer need nor want are getting a second life. In a sense that is.

I know I might sound like I'm moaning but I'm not actually. I'm just pointing out things I've noticed. There is more than what I have mentioned here. But to sum it all up. I am always on edge with this site and every time I get a notification from eBay. I just think, what now and I dread opening the message for fear of what that have done now. Good news means bad news.

[vintagevilarosa]

So the longer they keep the funds in their account the more interest they can accrue in their account rather than it being in your account accruing interest!  Cheeky very Cheeky!

[tommystrezures]

There is nothing cheeky going on here, and I really don't know why people are getting worked up/annoyed/moaning about this.

If I had the choice of 300 listings free a month no fees, and had to take my money out of my account myself I know what I would prefer......

Payment process of 2 days that is currently what it is (no change)- eg Buyer buys item on day one, payment process overnight and availble day 2 eg in your wallet as cleared funds. If you then decide to withdraw funds, it can take up to four days, all banks and payment providers have different methods of processing. If I want to make a withdraw, its usually in our account within a couple of hours.

When you currently receive your weekly payouts or daily payouts how long does funds take to land in your account? However long it is taking now I see no reason its going to take any longer.

Below is the guidance from the ebay pages:

As a platform ebay has to evolve, 2 years ago with managed payments you all complained that you couldn't use your account like paypal, well perhaps ebay have actually listened for once and thus introduced the ebay wallet. However to protect themselves and YOU as sellers payments are processed slightly differently, in accordance with the existing payment clearing house processes that operate in the banking world. You can't have instant payment system. for ebay 24 hours later to say oh that payment failed we want that money back..... There would be uproar. They have to get it right to protect you and themselves.

So come on guys take the positives of these changes, I know eBay has its foibles and plenty of them, as I see it all of these changes are a bold step by ebay...... Are they right, well time will tell.

[stimpson1970]

My payments currently clear in my bank the next day. That has been the case ever since eBay took away the ability to have instant payments into PayPal. Keep in mind, eBay forced users to accept PayPal at one point, which they then took away. I'm pleased for you that you are happy with the changes, just don't expect everyone to agree with you. These changes do not help me. You are free to shill for whoever you like, but please don't be so condescending as to tell me I have to enjoy something you are clearly delighted with.

[papso22]

Then your payments will continue to clear into your account the day after ebay release then.

You were not told to enjoy the changes, the poster just set out the position in a balanced way.  In no way were they being condescending. 

[stimpson1970]

Do you all speak as one?  They WERE being condescending, as are you. Perhaps you could learn what condescending means.
I didn't realise this forum was moderated by eBay employees. Do you all weigh-in to shut down dissent?
The level of simping is off the scale.

[tommystrezures]

Just to let you know,  we are NOT ebay employees but buyers and sellers like yourself, who give our time up for free to help others, between us as a group we help anyone who needs it close to 24/7. Ebay employees when responding on these boards have a blue border around their post. So I hope that has clarified matters for you.

Ebay purchased Paypal in 2002 and then sold the company in 2015. Paypal started life around 1998 as Confinity. There was no forcing into or taking away they were for years part of the same group of companies.

And please don't tell me I am delighted with these changes. Once again Business users are being shafted by ebay.

[dch2112011]

A worrying aspect of the ebay balance is not the payment times which are potentially slightly longer  to withdraw - within 2 days from customer payment with the same processing time by your bank which is stated as 0 to 4 days .

The worrying aspect is the return of the scammers charter to take your funds from the internal ebay balance.

This is the same problem as members had when using paypal which was eliminated with managed payments - a scammer accesses your account and ebay balance and uses your funds held by ebay.

Ebay know this and have very kindly issued a warning  and the only change seems to be that ebay can no longer push it onto paypal but hint that you might be eligible for reimbursement 

Remember under ebay balance you will lose the chargeback protection - so if an item goes wrong after 30 days or a warranty is denied - you are stuffed - unless ebay change protection in the new year

see link below

unauthorised transactions new ebay balance warning 

[vintagevilarosa]

Wow if thats the way you speak to people why the heck would anyone want to help you and no I am not being condescending just pointing out your rudeness!!!

[stripyzebras]

I'll be asking for my funds to be transferred to my bank account after every batch of sales (I tend to do 10 day auctions listed on the same date) - it can then accrue interest in my bank account, not ebay's, even when I've only made a few pounds. I'm guessing ebay will rely on people who feel they have to spend every penny in their pocket - seeing £20 in an ebay account will have them searching on ebay for something to buy that they probably don't really want and definitely don't need. All about the psychology of buying. 

[le552711]

Sorry I have to disagree with you. The fact that eBay is deciding for you that your funds stay in their pot , I suspect more sellers will leave eBay. I've noticed a decline in the diverse range of goods being sold. I won't be selling any more items on eBay as the new changes reinforce my view it's time for me to move on.  If your happy with the changes that's great for you but I suspect they will lose business.  Only time will tell but I think it's sadly has lost its way !