Spendable funds - opting out?

[coopuk]

Hi, received an email saying that I'm opted in to Spendable funds. I didn't request to be opted in, and I want to opt out. The ebay automated assistant is worse than useless, and there are no ebay pages on how to opt out of Spendable funds. 

So, the question is - how to opt out of Spendable funds. 

Any ideas/help please?

[dch2112011]

All private accounts are opted in - you can either use funds to buy on ebay or request part or all of your funds to  be withdrawn - you have to make this request everytime you want to withdraw funds - you will also find that you will be opted in to simple delivery as it is rolled out - all designed for sellers of personal items 

[coopuk]

So! Just got off a chat with customer services, lovely person.

You can't "opt out" of Spendable funds. Once you're in, it's a feature activated for life.

Secondly - any funds you get for payment are sent automatically to your Spendable funds. You no longer get money for payments sent directly to your account. Oh no. Now you have to manually withdraw the funds from the financial summary: https://www.ebay.co.uk/sh/fin

So something I didn't ask for and want has been imposed on me, and previously automated payments to my account now have to be done manually.

Well done ebay. Well done.

[coopuk]

Yes, thanks for that.

So something I didn't ask for and want has been imposed on me, and previously automated payments to my account now have to be done manually.

Well done ebay. Well done.

[jonat_broad]

But you do get to list for free so... swings and roundabouts.

eBay need to make their money somewhere. Rather than getting it in the form of fees it's in the form of accrued interest on those who don't disburse or even better if that customer buys from an eBay business was seller

[coopuk]

Replacing an automated system to pay sellers with a manual process is a
step backwards. I note with interest that eBay have not clearly documented
this "feature" or why it is necessary. Always good to see eBay being
transparent.

[dch2112011]

Follow this link - it seems straight forward enough and well explained 

ebay balance 

[coopuk]

Wouldn't it be lovely if eBay's automated "help" could find that? 😉

[dch2112011]

Go to help and type 'ebay balance'  there have been several announcements but if you didn't know it was called 'ebay balance'  it could be hard to find with the search facility  - search 'simple delivery' as well this will be opted in for you but there is an opt out for this one

[coopuk]

So for "spendable funds" search "eBay balance". Right 😉

[dch2112011]

Yes that's what ebay have decided to call it - I guess they called it 'spendable funds' in your email - straight forward as usual.

In reality it is no big deal  and ebay will automatically sweep your funds if you forget once every quarter to your bank account -  they are thinking of members who find it difficult to fill in the amount and click the button - no stone unturned !

The up side is for personal sellers who want to buy on ebay can immediately use the funds to purchase  as soon as the sale goes through - it might increase sales ?

Make sure you keep your bank account details up to date - 

[jonat_broad]

In reality it is no big deal and ebay will automatically sweep your funds if you forget once every quarter to your bank account - they are thinking of members who find it difficult to fill in the amount and click the button - no stone unturned !

The up side is for personal sellers who want to buy on ebay can immediately use the funds to purchase as soon as the sale goes through - it might increase sales ?

And this is pretty much how it works on Vinted I believe - the money can be used to buy on Vinted or transferred to your bank. So its ebay following the trends.

[dch2112011]

Pretty much apparently, it seems to be just as quick as MP but you have to instigate the withdrawals - wonder where it will end up as ebay have a habit of tweaking things once introduced !

[coopuk]

One more thing - scheduled payments no longer seems to work once you are opted in. I had funds in my account, tried to get them scheduled to send to my account and got the message, "scheduled payments canceled". So it looks like that bit of eBay functionality has been disabled if you're opted in without telling the users...

[lily_holic]

simple delivery sounds awful to me. One of the things i like about selling on ebay is that I can use whatever courier is most appropriate and usually pick Royal Mail. As a personal seller, the postage also reflects the packing materials, petrol time and effort. I usually offer express delivery at a premium for this reason and standard delivery free or heavily discounted.

[coopuk]

On the plus side, ebay says you can opt out of simple delivery when you created a listing:

https://www.ebay.co.uk/sellercentre/postage/simple-delivery

[thesmokingrunner · Accepted solution]

Hi coopuk.

It's not that scheduled payments no longer work once you are opted in to spendable funds, it's that scheduled payments ended with the introduction of eBay balance on 16th October though, as usual for eBay, the information wasn't publicised too well.

The information is actually given on the 'Getting paid for items you've sold' Help&Contact page - https://www.ebay.co.uk/help/selling/getting-paid/getting-paid-items-youve-sold?id=4814&st=3&pos=1&qu... - it's about a page down and the paragraph beings "From 16 October 2024...". Clicking on the link "payouts on demand and eBay balance" gives a little more information, including on how to make withdrawals from an eBay balance to a bank account, as follows:

How eBay balance affects your payouts

Scheduled payouts are being removed for private sellers from 16 October 2024 as part of the launch of eBay balance. This means that if you’re a private seller, you won’t receive your payouts on a daily, weekly, fortnightly, or monthly schedule as the funds will be stored in your account as part of your balance.

Your available funds will be sent to your eBay balance, typically in 1 day, where you can use them to pay for items, postage, and other selling costs on eBay.co.uk.

Private sellers can still request payouts directly to a linked bank account by selecting Withdraw in the Payments tab.

If you don’t use or withdraw your balance, we’ll automatically send your available funds to your bank account on the first Tuesday of every January, April, July, and October.

If you’re a business seller on eBay, nothing will change and you’ll receive your payouts on your usual schedule.

For more information, visit our article on eBay balance.

Hope this helps.

[magnolias01]

You can bet your life that eBay are investing all the funds in your eBay balance account but not paying you any interest.  eBay is getting far too big for it's boots. Greedy and 'controlling'.  It used to be a simple matter to sell and get paid - not any more, eBay have taken control of every aspect of your sales and made the whole thing so very tedious.