Why can't eBay bring back instant payments ?

[bittyboy101]

Well, it used to be pretty handy and very nice to receive instant payments after my items have sold on eBay...

But now since eBay managed payments it is now a few hours to over  1 day delay before the money from my buyers is available at my bank for me to use...

Whilst I understand that it was PayPal who used to provide the instant payments and money upfront to the seller and then take the 1 - 2 days wait before they receive their money back from the buyer's bank...

Now in eBay... we have this "lag" of approx 24 hours... It is OK if an item sells at 10pm the night before and eBay then sends the payout to your bank at 4 am in the morning and the money is then available at the seller's bank after 9 am in the morning...

But when happens if an item sells at 12:01 am in the morning ??... eBay treat this as the day before and then don't send the money/payout to the seller's bank until the following day after more than 24 hours have passed from when the item had sold at 12:01 am and the buyer had paid...

So your item sells on eBay at 12:01 am in the morning on Tuesday.................................... then eBay sends your money/payout at 4:25 am the next day (on the Wednesday) and it is then available at your bank after 10 am on Wednesday...

It would be really nice in eBay sends the payouts the same day instead of making us wait for 1 day or more in some cases before they actually send the payout over to your bank.

So it should be your item sells on eBay and you receive an email from eBay "You've made a sale"

Then within 10 minutes you should then receive another email from eBay saying "We've sent your payout"

Then the money from your buyer should be avialable at your bank same day if item has sold during the start of a working day or in working hours on a week day... (or 9am on the following day if the item has sold after 6pm and then send the payout within 10 minutes after that sale...)

Ideally, eBay really needs to get rid of this 1 day lag/delay and send our payouts over to our banks via automation as soon as our buyers have paid in order to speed up the payment process and cut the unnecessary delays in sellers receiving their money for sold items...

[bittyboy101]

That should have read "what happens" instead of "when happens"

And that should have read "available" instead of "avialable"

Sorry guys for the typos, tried to correct this, but eBay now won't let me touch the original post.

I am no way trying to run eBay down, It would be so nice  to have something as close to instant payments as possible as this was very handy for many people.

[plpmr]

just to say that originally a seller got paid directly by the buyer, now with managed payments that does not happen.

the buyer pays eBay and they pay the seller, extra operations mean more time needed.

[bittyboy101]

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@plpmr wrote:

just to say that originally a seller got paid directly by the buyer, now with managed payments that does not happen.

the buyer pays eBay and they pay the seller, extra operations mean more time needed.

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...and more people to pay = higher selling fees which could be avoided if eBay didn't make their payment system so complicated and such a drawn out affair !

[mmeusz123]

Coz they get a bit of interest out of it

[*help_no_brakes*]

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@mmeusz123 wrote:

Coz they get a bit of interest out of it

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There is no shame in not knowing that eBay do not have the funds so do not earn interest.

[mmeusz123]

So once buyer has paid, where does the money go?

Regards

[bennotbill]

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@mmeusz123 wrote:
So once buyer has paid, where does the money go?

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That would be adyen. And as eBay own a large part of that company they will certainly benefit even if they do not get interest directly.

[jt_homelessness_project · Accepted solution]

ebay don't give people instant payments because they want the money within their own bank account for a longer time. ebay say that it is our own banks whom take longer to process the payments, but this is not true. My bank, and all banks process every minute of the day. It is ebay who hold onto our money, as it makes them more money. 

We need to complain about this. I doubt ebay will show this thread, as they are dishonest, and equal to every other big business. 

[kimmy_g]

I gather you work for ebay. Lol

[*help_no_brakes*]

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@kimmy_g wrote:

I gather you work for ebay. Lol

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How did you come to that incorrect conclusion?

[ett1954]

@bennotbill   Adyen are a publicly owned company and eBay sold the relatively small amount of shares they had in the company back in 2022.

[bittyboy101]

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@jt_homelessness_project wrote:

ebay don't give people instant payments because they want the money within their own bank account for a longer time. ebay say that it is our own banks whom take longer to process the payments, but this is not true. My bank, and all banks process every minute of the day. It is ebay who hold onto our money, as it makes them more money. 

We need to complain about this. I doubt ebay will show this thread, as they are dishonest, and equal to every other big business. 

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I agree 100%.

[bittyboy101]

eBay really need to get rid of this 24 hour "processing time" and start offering instant payment like PayPal  did.

You can't just take something away that was brilliant and USEFUL and then DOWNGRADE to something that is only half as good and expect every user to just suck it up and be happy with it.

For me and many other people using eBay to sell stuff to raise money QUICKLY I expect to see and have my money AVAILABLE within 10 minutes of the buyer paying for my sold item no if's or but's.

Now we have this AWFUL delay of 24 hours (1 working day), so if you sell something at 11 pm and your buyer pays - you get your money the next morning deposited in your bank... but if you sell something at 12:10am and the buyer pays then, Then you don't get your money deposited in your bank the same morning... eBay makes you wait a PAINFULY SLOW 1 working day (24 hours +) before they then deposit your sales money the following day.

So like I said in my original first post if you sell an item  at 10 pm on Monday - eBay will let you have your money on Tuesday morning at your bank... but of you happen to sell an item at 12:01 am on Tuesday morning, then eBay will make you wait 1 working day and then your money will be deposited into your bank on the Wednesday morning. So basically 11:59pm is the dealine/cut off time for getting next morning payment from eBay, otherwise it is subject to a ridiculous 24 hour DELAY ! if a sale happens after 11:59 pm. 

[coinsanstuff]

No but the third party who are holding the funds do. Their name is ayder and I wonder who the major share holders are?

[ett1954]

Not eBay - see post 12.

Money transactions often take up to 48 hours to complete, especially at weekends and bank holidays - nothing unusual in that.

[coinsanstuff]

Sorry they are called Adyen 

[cspc5920]

im currently being forced to wait 14 days for my payout...even tho ive been selling since 2022 ....single worst selling platform ever.

[61stephenuk]

You are a very infrequent seller not having sold for over a year and eBay will place your payments on hold as explained here

https://www.ebay.co.uk/help/default/default/payment-holds-sold-items?id=4155

[cspc5920]

just pay the sellers the money your platfrom owes them...simple waiting 2 weeks for a payout is a complete joke.