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]

it is your choice if e bay keep your money for 3 months, you can request it whenever you want just like at the moment.  I choose to get it when an item is sold but i could have chosen other times for payment.  All it means is that instead of a couple of pounds going in every few days and getting lost amongst all my normal funds i will leave it until i get a reasonable amount to actually do something positive with.  E Bay do plenty of things that need moaning about but this is not one of them.

[kath3735_wxmjn]

some people are not happy unless they are e bay hating.   I can think of lots of things that need moaning about - currently the search engine as i have been looking for a couple of new clothes items for myself and it is a nightmare trying to find exactly what i want!!

[kath3735_wxmjn]

well i cannot complain, my payments have always gone in to my bank account within a few hours of selling the item - and it actually appears in my bank account not just e bay saying they have sent it.  Most impressed actually.  Every now and again it may take a little longer but i have never had to wait more than a day.

[kath3735_wxmjn]

same with me, i have the most basic account so i do not pay any fees to the bank either.  Not sure why all the moaning is going on about this anyway, its not a big deal having to wait a day for your payment or having to click a box (or however they are going to do it) to get the funds yourself. 

[a45heaven]

my payments have always gone in to my bank account within a few hours of selling the item

Well done - if i get payments from buyers on , say, a Tuesday from 5.00am onward until around 10.00pm, those funds are generally in my Bank on a Wednesday morning by 5.00am. Payments received after 10.00pm on a Tuesday will be in my bank by Thursday 5.00am.

Now if thats you definition of a few hours, we can agree.

Paypal however on other platforms, makes payments to my bank , as they used to do in old ebay days pre MP, and still now on other platforms instantly.

In fact Paypal even provided the service on Bank Holidays, which is something ebay have avoided.

[theelench]

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@wysiwyg_steve wrote:

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.

 

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While I think that trying to re-establish the virtuous circular economy that helped ebay so much when Paypal Wallets were the norm, I wonder why it's taken ebay years to introduce this inferior arrangement?

This might have been appropriated from Vinted because ebay had abandoned plans to introduce its own Wallet in favour of going down the route that etsy tried.  They tried to introduce Mandatory Holds on all payments, making payments only weeks after the sales.  Ebay followed with increased use of Holds on private seller's funds and still does, but had second thoughts about extending the idea when etsy sellers revolted and started putting their shops on Holiday in protest.

The ebay Wallet has now been dusted-off and spun to look like a benefit to private sellers but will still net ebay huge amounts of cash (and interest) through inertia, but the intent was the same in all the above scenarios  --  to keep sellers cash in the sites bank account for as long as possible.

Some replies have tried to portray this as a necessary trade-off in return for ebay's Free to Sell listings and an improvement for private sellers.  It's not IMO.

Under the paypal arrangement we had free listings + immediate payment + immediate withdrawal to our bank accounts with fees paid to ebay once a month and the use of our funds to buy postage from any delivery company we chose. 

Yes, paypal made interest on what it held in our Wallets, but it provided advantages for private sellers in return.  

[reasonable-robert]

fun money cant afford bloody fun money these days...😁😀😃😄

[wildlily07]

Well this is my whole point. You wont be receiving those payments into your bank next day anymore. You will be receiving them 3 days after the buyer sent the payment at the earliest. Could be up to six days according to ebays wording of the new payment policy. And that's if u manually request it as soon as it is available

Sent from my Samsung Galaxy S9 - Powered by Three
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[sml192]

The wording on ebay's help page says that funds will be available to withdraw within 2 days, so could be less, and that it will then take 0 to 4 days to clear into your bank account. There is no reason why it should take any longer for the funds to get from eBay to your bank account than it does currently and the funds will be available to withdraw within 2 days at the most, ignoring payment holds, so I don't see how you can possibly say that it will take at least 3 days.  I think you are just being overly pessimistic. 

When will my funds be available to use or withdraw?

From 16 October 2024, once the buyer’s order is confirmed, your funds will typically be available in your balance to use on eBay or withdraw within 2 days. 

Withdrawals typically take another 0-4 business days to clear in your bank account.

[a45heaven]

There's going to be quite a lot of upset buyers waiting for their purchases then.

Remember the sellers are now Private ones without a business to support their posting costs layouts. No funds , no posting.

That said why should anyone have to wait for their funds - Paypal still send funds instantly , be it to the same bank ebay say needs up to 4 days, or any other one.

[lesma_32]

Many thanks for you reply

I am usually optimistic, as I was with MP and it worked '!! . It was the first impression of 4 days it just seems as though it will cause confusion and dismay at the start  but what must be must be , 🤗thanks again for your reply 

[a45heaven]

as I was with MP and it worked '!! .

Please explain how MP 'worked' from the point of view of a Seller?

The simplification of  financial Control, was one which was quoted, which is far more complex now.

Fees, are more complex and widespread now, one could say hidden to avoid the whole picture being seen by the sellers.

At the time Paypal provided instant payments to the sellers, whilst ebay improved the Payouts from 'several days', it still is next day, so its difficult to stretch that as an advantage.

[dch2112011]

To name but one advantage with Managed Payments

elimination of fraud  because paypal worked on an email address which if your ebay account was unlawfully accessed and your email address tampered with - your funds were diverted to another paypal account with no means of recovery -  this was one major advantage with MP 

[kath3735_wxmjn]

I may be wrong but i would say that most real private sellers can afford to pay out for postage without having to wait for funds into their account.  You would only need approx £4 to start the circle and then you would have the rotating postage for the next item.  As someone previously said, how can you afford to refund if required  if you cannot afford to even pay the postage initially?  Not sure why you are all so obsessed with paypal now, that has ended whether you like it or not.  I was unsure about managed payments initially but i have had no problems with it at all.  As for the delays in payment they are only giving approx times until it starts no one knows if it will be the next day or 4 days.

[a45heaven]

and one ebay never found the need to mention at the time - not that i endorse ebay being a more secure entity than Paypal, in fact i find that hard to imagine with the permanent platform failures on ebay, you would never be told now should ebay get hacked of course.

[a45heaven]

Why should a seller have to wait to get their funds? Has the transaction now identified ebay as the seller now?

As for the delays in payment they are only giving approx times until it starts no one knows if it will be the next day or 4 days.

Forgive me , i thought the release of funds process was an already existing function , just the weeks or more holding trigger by ebay is different. 

With MP, at first the delay was a few days, ebay blamed the banks (which still performed instant Paypal deposits from other platforms), then without mention the deposits ended up next day or the day after, depending on the unknown cut off time. Still short of Paypal though who are still instant.

[dch2112011]

Another benifit of MP

Buyers do not need to open a paypal account  they can purchase direct with debit or credit cards affording them protection and  control from the card company  thus opening up sales to buyers who did not trust or want a paypal account 

[sml192]

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@dch2112011 wrote:

Another benifit of MP

Buyers do not need to open a paypal account  they can purchase direct with debit or credit cards affording them protection and  control from the card company  thus opening up sales to buyers who did not trust or want a paypal account 

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Buyers have never needed to open a PayPal account to buy on ebay though? 

[wysiwyg_steve]

And yet you felt the need to comment.

[wysiwyg_steve]

..........🤔