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.

[kath3735_wxmjn]

i shall just do what i did with paypal and transfer it as and when i want it.  Actually better in some ways as if a few pound go in a week then it disappears into the rest of my spending money, if it is held and i get it out in a lump sum then i tend to save/use if for something useful.   With paypal everytime i got up to and slightly over a hundred a bought premium bonds.

[medealady]

Think one idea is that sellers will use the money in their account to buy which is what often happened with paypal. Whilst business accounts may moan this move may be to their advantage as some sellers will view their ebay account as fun money for purchases as they visit the site more. Free to sell is also excellent for those with cheap items where the fees simply made them not worth selling previously.

[roger_roger_over_and_nowt]

"fun money" 😂

"Think one idea is that sellers will use the money in their account to buy which is what often happened with paypal" in 2014 maybe but now .........

All the extra items that may be listed will need more buyers with money to buy with.

I wonder where will these buyers be getting the extra money from to buy these items and if it's only possible by them moving away from other sites and retailers then it will not help the economy in any way at all.

It will only be a shift.

The site is already flooded and clonky,i wonder also how Ebay intend to address and fix the long list of problems already present along with the extra problems this change will no doubt bring.

I guess it's too early to speculate 😴

[microvolk]

It will earn Ebay a whole shed full of money as that is how banking works. But it will mean when I give a buyer a £ or so postage refund if I overcharge, it will not be another bank transaction as the money goes in so fast now. Yes I know it could always be set as weekly I just had it set to immediate. I hope we will be able to set to weekly & not have to go in each time. We wait & see.

[eastern-lights]

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@roger_roger_over_and_nowt wrote:

I wonder where will these buyers be getting the extra money from to buy these items and if it's only possible by them moving away from other sites and retailers then it will not help the economy in any way at all.

It will only be a shift.

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It's not intended to help the economy.  It is intended to help Ebay and their users. No more.

[johnwash1]

Yes, 10 years ago, when my proceeds were in Paypal, it was 'fun' money and I used it to buy on ebay.  But ebay killed that feeling for me with the move away.  I looked around, I discovered AliExpress.  My ebay purchases went right down.  Will be hard to tempt me back.

[lesma_32]

This is not good at all and not really fair to be honest I am sure customers who bit out items won't any to wait for their items unless as it seems we are expected to pay the post wage out of our pockets till eBay pays us !! A little un fair yes I spend on eBay too but I should eballowed to have my money paid out like it is now 

[hudsonsclothes]

You are getting entirely free listings in return for having to request a pay out? I know which on I would prefer

[microvolk]

p.s Just had the message land in my email. So no auto choices for anything other than quarterly unless requested each time. Think I may ask for it very frequently : )

[wildlily07]

So are private sellers expected to pay postage out of their own money while ebay hangs on to the postage charge received from the buyer? The new rules say that it private sellers can request payout from their ebay balance after 2 days and that it may take a further 0-4 days to receive it into my bank account. So I sell an item but dont get paid for it for up to 6 days ? Something not right here. This is not why adhoc private sellers like me sell on ebay. We sell because we need the money asap usually. Im not happy to send my items out until that money is in MY bank. The buyer has paid postage  but I have to shell out of my own pocket for a week? Is this to force me to buy postage only through Ebay? Am I missing something here?

[tommystrezures]

Your example is extreme. Most processing of payments are done around midnight and show as cleared funds the next morning, in your payments tab. You can withdraw your monies then. The 0-4 days covers all eventualities with all banks who may process things differently. However when we request a pay out it's usually in our account same day within a couple of hours.

the new eBay wallet if you want to call it this should allow you to buy goods, postage etc direct from it.

Or withdraw monies when you want them as you wish, it gives you greater  flexibility than before.

personally I am not clear why people are getting worked up about it. As I see it everyone complained when managed payments came to fruition a couple of years ago for everyone "oh I can't withdraw funds like I could on PayPal" well I would say with a hint of irony that perhaps eBay have listened to all these comments over time and introduced this payment procedure as this is what everyone was up in arms about 24 months ago?

[johnwash1]

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@wildlily07 wrote:

So are private sellers expected to pay postage out of their own money while ebay hangs on to the postage charge received from the buyer? The new rules say that it private sellers can request payout from their ebay balance after 2 days and that it may take a further 0-4 days to receive it into my bank account. So I sell an item but dont get paid for it for up to 6 days ? Something not right here. This is not why adhoc private sellers like me sell on ebay. We sell because we need the money asap usually. Im not happy to send my items out until that money is in MY bank. The buyer has paid postage  but I have to shell out of my own pocket for a week? Is this to force me to buy postage only through Ebay? Am I missing something here?

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Sounds like that's the way it's going to go.  At present I buy postage outside ebay.  So with the new scheme ebay will see when I dispatch and screw my expected delivery dates so I need a time machine.

[Anonymous]

I think it's a great idea,

I recently sold my DVD collection, all listed individually, sometimes I'd sell 1 a day, my bank statements started to look longgg and messy.

Being able to store it with eBay until I've built it up enough to want it is great.

I know eBay may make profit on storing the money but I don't care about that, the interest eBay earn for storing my £10 is not going to be as much as the listing fees I used to have to pay to earn that £10.

[hudsonsclothes]

If the exchange for totally fee free listings is having to manually withdraw your funds I don't understand why people are so unhappy. I wish I had this available to me

[tommystrezures]

You can't please everyone.... In fact to be blunt it beggars belief.

[eastern-lights]

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@tommystrezures wrote:

You can't please everyone.... In fact to be blunt it beggars belief.

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If Ebay announced that their new AI was going to predict your sales and pay you before you list the item, someone would be moaning. "You mean I've got to actually list the item?"

[manyjamjar]

Heres me thinking once we are used to this "ebay balance" system,  payment withdrawal will be monthly basis only.

[hudsonsclothes]

It is simple really isn't it, you have 3 options.

1) Sell as a private seller and take advantage of the amazing totally free listings to sell your stuff and keep all of the money, however you will have to manually withdraw it from the new ebay wallet which has been set up to mimic paypal and the German eBay in the hope that it encourages private sellers to spend on the site and help out the business sellers and the sites overall traffic.

2) Become a business seller paying a monthlysubscription as well as very high selling fees with less listings however your funds can be set to daily, weekly payouts etc.

3) choose you are unhappy with both of them and want everything without willing to give something up, so your option is to cease selling on eBay.

[wildlily07]

Ebays notification itself says that we can request a withdrawal 2 days after it hits the ebay balance. Lets say it hits my bank next day after withdraw request made that is still 3 days. So if i want to stay competitive despatch time wise i am going to have to purchase shipping via Ebay or post 3 days after buyers purchase when payment hits my bank.