Quarterly payouts for private sellers with free to list

[medealady]

Incase people missed it in the announcement funds from selling will be held in your ebay account and paid out quarterly to bank accounts 'unless requested' by an unexplained process. Chances are money will be held in many accounts by inertia.

[wildlily07]

Because they are hanging on to our payments for at least 2 days meaning we are having to layout money we dont have to pay for postage or ship on day 3 or we are forced to purchase labels via Ebay. 

[hudsonsclothes]

I get you, however you can't have totally free listings and instant access to your money. You will either have to take the free listings and keep 100% of money you make for a sale or give up a percentage (over 10%) to eBay and become a business seller so you can access funds instantly, or stay private and use eBay postage labels Or lastly this comes into effect on the 16th so there is time to set a few pound aside for postage costs.

I am not putting my own opinion across its just the way things are now. I would gladly purchase eBays labels or keep a few quid aside to cover the P&P costs in exchange for the hundreds of pounds you will save in now none existent selling fees 

[wildlily07]

It not the fact if having to manually withdraw it that i object to its ebay not allowing me to request to withdraw it for 2 days after the buyer has paid. Why the delay?

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[hudsonsclothes]

I believe eBay hope that private sellers then go on to spend this money elsewhere on eBay to boost sales elsewhere particularly for business sellers who have had no free listing benefit. Their logic is that it is sat in a wallet on eBay easy to use and that you and many others will use funds to buy things you want. They do it in Germany already I believe with great success and it's how the old PayPal used to work.

Again this is not my opinion just what I have read from eBay in the various promotional and information pieces explaining the changes they've made.

[sml192]

@wildlily07 wrote:

Because they are hanging on to our payments for at least 2 days meaning we are having to layout money we dont have to pay for postage or ship on day 3 or we are forced to purchase labels via Ebay. 

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@wildlily07 wrote:
It not the fact if having to manually withdraw it that i object to its ebay not allowing me to request to withdraw it for 2 days after the buyer has paid. Why the delay?

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2 days aligns with the amount of time it takes for a card payment to be processed so they aren't necessarily 'hanging on to payments', just not prepared to send payments in advance like PayPal were. 

[kath3735_wxmjn]

Now do stop talking sense!  You know it will only upset the professional moaners on here!!!

[kath3735_wxmjn]

or how about just making sure you have some money in your pocket to actually pay for postage the first time and then it will be a rollover situation!  

[papso22]

I really worry about members seling on  here who live so hand to mouth that they can't afford to pay postage from their own funds.

What on earth will they do if there is an ebay money back guarantee claim, or even worse, a chargeback?

[wildlily07]

I will already have had the payment so funds will be there. So glad you have never experienced financial stress where every penny counts and I really hope you never do. Thanks for your concern tho.

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[hudsonsclothes]

He said he "really worries" he never had a go or looked down on you, everyone experiences hard times financially. If I was however, I would use eBay postage whether I liked using it or not in that instance, that way you aren't using your own money, and your buyer gets their product 

[johnwash1]

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@wildlily07 wrote:
I will already have had the payment so funds will be there. So glad you have never experienced financial stress where every penny counts and I really hope you never do. Thanks for your concern tho.

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Funds for the postage part of the sale will not be there.  Hence the concern being expressed for people unfortunate enough to be selling when finances are down to the wire.  An INAD refund leaves the seller out of pocket.

[bosley2016]

Now confirmed as the first Tuesday of every January, April, July and October.

[a45heaven]

I really worry about members seling on  here who live so hand to mouth that they can't afford to pay postage from their own funds.

Thats the very same argument ebay pushed when MP was inflicted on sellers. Didnt wear well then, less so now.

Remember Paypal, still instant reciepts 24/7 , 365 days a year.

What on earth will they do if there is an ebay money back guarantee claim, or even worse, a chargeback?

Will these claims have the chance to kick in if the Private Seller extends their handling times (assuming ebay don't still adjust the dwell times), and dispatch once funds are in their bank.

[wysiwyg_steve]

Translation:

Another Vinted s̶c̶a̶m̶ innovation s̶t̶o̶l̶e̶n̶ appropriated by eBay. Sellers used to get their money transferred into their bank accounts shortly after a sale. This didn't really benefit eBay so consequently eBay Sellers will now have to be pro-active in order to get their money as rapidly as they formerly did.

eBay, of course, are literally banking on Sellers not being pro-active in order that they can make an absolute fortune out of the interest on the Seller's money sitting in eBay's bank account as opposed to the Seller's.

None of this is appears to be beneficial to Sellers but then eBay / shareholders / Vinted / capitalism sooooooo...

'en*bleep*tification'?

TL:DR - More eBay ensh*ttification which sees Seller's missing out on making interest on sales from their bank for three months in order for eBay to benefit instead.

 

[dch2112011]

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@wildlily07 wrote:
It not the fact if having to manually withdraw it that i object to its ebay not allowing me to request to withdraw it for 2 days after the buyer has paid. Why the delay?

Go back and read the funds available time scale again - it states within 2 days -  most payments will be available same day  - but some may not be available until the following day - nothing new with this statement or the way payments are made available in your new ebay 'wallet'

It does not say ebay will hold your funds for two days - this is your imagination running wild - the same with processing times 0 - 4 days - most will land same day in your bank as long as your bank processes payments for you quickly - some banks are not so quick - so choose a bank with good processing speed rather than assume it is ebay delaying your payment !

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[thetimetower]

U literally just need to push a button.....

I see no issue

[a45heaven]

why should users have to  though ?

Its not as though its ever been as rapid as Paypal which ebay deemed to replace with an inferior model for the users.

[1956glyn]

I have a bid on something ending on the 16th.......lets see how quickly i get the funds 🙂

I am waiting to see how the new system actually works in reality before knocking it too much  🙂

usually funds are in the bank the day after sale and payment.

[1956glyn]

wildlily07

I have just had a little look at the account you are posting on.    It appears that you have not sold on that account (or you may have another one too) for quite a while.

If this is your only account and you start selling again then Ebay MAY treat you as a new seller and hold your funds for much longer than a few days.

[eastern-lights]

I don't get interest on money in my bank account so it really doesn't matter to me where it is sat not earning interest for me.