cancelled transactions

[chekov_42]

Here’s a new eBay revenue generating policy if nobody’s aware. Add it to the list?

I ‘sold’ an item the other night. Money was credited to my eBay funds total immediately, to be made available two days after delivery as is usual now. Buyer then messaged within the hour with a request to cancel the transaction, saying it was bought in error, so I agreed and relisted the item. My total eBay funds were reduced by the same amount straight away. Fair enough.

The next morning my account showed that some funds were available to withdraw, basically for those items that had been delivered two days ago. When drilling into the amount made available to withdraw, I found eBay had deducted the ‘refund’ for the cancelled item. The actual funds for the non existant sale would, I learned, not be ‘made available’ for another 2-3 days.

So, on a net zero non-transaction that never happened, eBay have just taken my money for a few days and they will earn interest on that. There are 18 million active sellers on eBay. If this happens to even 1% of them then they're keeping vast amounts of money which simply doesn’t belong to them. Does this not smack of illegality? It would seem eBay are using this loophole to just temporarily "borrow" (steal) sellers’ funds.

Like everyone else I have never read eBay’s terms and conditions in their entirety. I suspect I have agreed to this and much, much more by just clicking on 'agree'.  Strictly legal? Perhaps. Moral or ethical? Defintely not. I would welcome replies from anyone associated with eBay trying to defend this policy but will not hold my breath.

Stay Happy.

[lucy_farmer]

'I suspect I have agreed to this and much, much more by just clicking on 'agree'.   '

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You don't even need to have 'clicked on agree' on ebay : you are deemed to have agreed simply by using ebay.......

[clydeandrascal]

eBay are making huge amounts more in fees than a year ago.  They make money on every EVRI delivery (they don't specify EVRI for anyone's benefit - they have a profitable contract with them);  they make money on every surcharge on every sale (the Mafiosa Buyer Protection Fee); they make money by holding the payment for every sale until delivery & here is yet another way in which they make money.  It beggars belief that are getting away with so much.  Somewhere out there must be one of the many platforms available in the US that might just exploit this UK market.