Ebay`s 'INTEREST' In Managing Your Payments ?

[hero-for-hire]

My Theory on Ebay Managed Payments:

While Ebay tries to paint a rosy picture of 'EMP' as being a positive move to 'simplify and improve' the buying & selling for both Buyer AND Seller...

What it really does is give Ebay the opportunity to inject itself into the transaction and control the money...high-probability; for their own corporate benefit.

How So?

Well; note that under 'EMP', when an item is paid for, the $$ is NOT available to the Seller.

Ebay has total control of that $$ for at least A FULL DAY...

A full day where--if I am right--that $$ sits in an Ebay Bank Account ....and COLLECTS INTEREST!

Now, one day of Interest may not be much for just ONE sale...pennies, at best.

But...How many sales happen on Ebay in a given day?

How much $$$ would be collecting Interest..for one full day?

(Que the sound of Lots O` Pennies of Interest adding up! CHA-CHING!...EVERY 24 HOURS!)

I know this much; BEFORE, when PayPal was handling things, I had my payment from a sale within one day of the transaction--(within 30 MINUTES, if I wanted to sacrifice a nominal transfer fee).

With 'Ebay Managed Payments', I wait for DAYS before Ebay tells me that they are sending my payout, and that it may still take' 1-2 Business Days' to show up in my Bank Account.

Question: If PayPal could zap my $$ so fast...

WHY does it take Ebay so much more TIME to do the same thing?

(My theory does not sound quite so wild now, does it?)

I spent 15 years as a Private Investigator, and Motive is always the prime consideration when seeking answers. Ebay inserted it`s corporate nose into everyone`s Business (literally) for a reason that benefits Ebay, not to 'simplify and improve' things.....by making them more complicated and time-consuming!

So:  Cui Bono? ('Who Benefits?')

Well --- Follow The Money !

Incidentally...IF this theory is correct...

The least Ebay could do is eliminate their Fees, considering the pile o` $$$ they are making for doing..nothing .....but let Our Money sit in Their Bank !

It`s one thing to take advantage of an actually quite legal financial opportunity..

It`s another to DOUBLE-DIP and charge us all FEES for that opportunity!

[north40sales]

eBay's released statement on this specifically states the three exact times that they do not earn interest on buyer payment funds. 

Curiously those times are the exact times that they are not in custody of the funds, so they cannot earn interest at that time anyway.   

[itsjustasprain]

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@hero-for-hire wrote:

Well; note that under 'EMP', when an item is paid for, the $$ is NOT available to the Seller.

Ebay has total control of that $$ for at least A FULL DAY...

A full day where--if I am right--that $$ sits in an Ebay Bank Account ....and COLLECTS INTEREST!

No. Ebays payment processor is Adyen. If anyone is making interest off the float it would be Adyen - which kind of makes sense since they are the payment processor so that is how they would make their money. They might make 1 cent from holding my money for a day or so. I dont care and I am receiving the full amount to which I am entitled anyway.

Also the money IS available to the seller for purchasing the label. You can buy the label using the pending funds from the buyer as soon as he pays. You dont have to wait for the funds to land in your bank before shipping.

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@hero-for-hire wrote:

WHY does it take Ebay so much more TIME to do the same thing?

---

Because Adyen is the payment processor and Ebay tells them when they can release the funds to the sellers bank account. This usually doesn't take more than a couple or 3 days total. If you have chosen daily payouts and have a steady turnover of sales then you will be getting daily payouts every business day. I dont worry about which funds I receive today go to which sale from the past because I ship as soon as Ebay tells me that the buyer has paid. I buy the label with the buyers pending funds and the rest of the money lands in my bank account soon enough. No worries.

[desert_rat_ny]

You are 100% correct. If there was not money in it for them they would not be doing it. In business if they its not about the money, then its about the money. 

[hero-for-hire]

Frankly, I would like an Ebay explanation of WHY it takes Ebay SO LONG to do something that PayPal could do SO QUICKLY !

As it stands; When I sell an item, I get an Ebay Auto-Notification telling me I have 'been paid' and should 'Ship Now'.....

...When I have not seen a single dime from that sale, and will not see that dime appear...for DAYS !

This is hardly 'simplifying and improving' the transaction...which IS what Ebay claimed this 'Managed Payment' concept was all about.

I once carried out--for fun--a Social Experiment...

For one afternoon,  I stood on a  corner at an intersection, holding a sign that read:

'I Am Not Homeless.

I Have A Job.

I Am Not Hungry.

I JUST WANT YOUR MONEY!'

...And people stopped, read the sign...laughed....and handed me money!

They said that they normally did not trust the destitute who stood at spots such as that, because they suspected that they were lying, and were making money off of the generosity of the passersby, by lying to them and preying on their sympathy.

With me, they could believe that I was not lying to them...and they appreciated that!

Well, if Ebay tells me HOW GREAT Managed Payments are, I cannot help but distrust them...

Because I have not seen anything at all 'great' about it.

A formerly quick & easy process has been slowed and gummed-up by an autocratic middle-man, with I suspect, at least ONE ulterior motive.

No explanation has been made of why Ebay takes so much more time in handing the very same transfer process that PayPal handles with no delay at all.

 That makes NO SENSE.

'Simplified'...?

'Improved'...??

Not hardly!

The fact that this was a non-negotiable EDICT on Ebay`s part does not engender a feeling of trust, either.

Most truly beneficial financial plans are not, as a matter-of-course, delivered as  Do It Our Way... OR ELSE!

[hero-for-hire]

RE; "Ebays payment processor is Adyen. If anyone is making interest off the float it would be Adyen"

------I cannot accept Ebay as a warm & fuzzy, friend-to-all, blameless Corporate Entity.

Frankly, I would not be surprised--given the expanded time frame--if the Interest pie were not being split between the two...Interested...corporations.

[stuff4divas]

So are you going to stop selling on eBay due to your complaints about them?

Or does eBay have enough going for themselves that you will continue using their platform to sell?

Looks like you've been with eBay since its inception, so you've seen lots of changes, good and bad?

[hero-for-hire]

RE; "So are you going to stop selling on eBay due to your complaints about them?"

---No yet... I still make $$, even with the obvious **bleep** delays in my seeing it in my bank account.

But if we are all merely puppets on strings....

I at least want to be a puppet who can SEE THE STRINGS.

[kensgiftshop]

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@hero-for-hire wrote:

Well; note that under 'EMP', when an item is paid for, the $$ is NOT available to the Seller.

Ebay has total control of that $$ for at least A FULL DAY...

A full day where--if I am right--that $$ sits in an Ebay Bank Account ....and COLLECTS INTEREST!

---

Wrong.

While the payment is processing, Ebay doesn't have the money either.

They don't have the money until the payment has been processed and the funds are available, then they send them to your checking account on the schedule you chose.

The only time they would hold the funds is if you chose weekly payouts, even then, they don't make any interest, because the money isn't theirs.

[stuff4divas]

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@hero-for-hire wrote:

RE; "So are you going to stop selling on eBay due to your complaints about them?"

---No yet... I still make $$, even with the obvious **bleep** delays in my seeing it in my bank account.

But if we are all merely puppets on strings....

I at least want to be a puppet who can SEE THE STRINGS.

---

Yes, I'm sure lots of us would like to SEE THE STRINGS in many areas of life, but alas, it isn't always meant to be.

Remember the big outrage when eBay stopped allowing negative feedback for buyers? How did you feel about that? Cuz I see you did leave some negs for some deserving buyers LOL

[kensgiftshop]

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@hero-for-hire wrote:

Frankly, I would like an Ebay explanation of WHY it takes Ebay SO LONG to do something that PayPal could do SO QUICKLY !

---

As it's been explained thousands of times, Pay Pal loaned us the money until the payment was processed and they had the funds to give us.

They knew the payment was good and they knew they would be receiving the funds in a couple days, so they let us have access to the funds early.

[reallynicestamps]

EBay used to own Paypal outright and profited from PP fees.

EBay was forced to divest from PP and had to pay fees to the spun-off company.

EBay developed Managed Payments and does not pay fees to Paypal any more.

• Managed Payments is run by Ayden and we can assume that Ayden's fees are lower than PP's fees.

[reallynicestamps]

@kensgiftshop 

They knew the payment was good and they knew they would be receiving the funds in a couple days, so they let us have access to the funds early.

Which is pretty much what happens when we use a credit card in a store.

The card is a promise to pay not a payment.

The merchant is able to get the payment from the card within hours of use because "They knew the payment was good and they knew they would be receiving the funds in a couple days, so they let us have access to the funds early."

The card is only paid a month later at best.  If the cardholder does not pay the full monthly invoice, he is charged (substantial) interest.

The card company makes it's money on the late payment interest.

[hero-for-hire]

RE: "As it's been explained thousands of times, Pay Pal loaned us the money until the payment was processed...." 

You have an astoundingly trusting nature.

IF the payment required so much time to 'process' when it is in our favor, then commensurately,  DEBITS would require the same 'processing' time.

They do not.

If I buy gas at the local station down the road, by the time I get home--7 minutes away-- and check my account; lo and behold; the payment has been  subtracted from my account.

Be it ExxonMobil...PayPal....Adyen, or whatever....

It does NOT take DAYS to 'process' an electronic transaction.

Ergo; there is NO REASON why Ebay Managed Payments should require a LAG TIME of 24-48 hours before they effect a transfer INTO your bank account.

....Further; Truth generally does not require explanation  'thousands of times'...

Lies on the other hand, have to be continually reinforced for the gullible to believe them.....

 Take Donald Trump, for example!

[hero-for-hire]

RE: "Remember the big outrage when eBay stopped allowing negative feedback for buyers? How did you feel about that? "

---Human Nature being what it IS, my thoughts were the same then as they are now....

If you give some people the power to strike at others with impunity, with no negative consequences for themselves to fear, then they will do so. Behavioral Studies at UCLA in the 60`s and 70`s proved that.

(or you could just watch the Dr. Venkman 'lab' scenes in 'Ghostbusters', if you want to laugh at such a sad truth)