Payments by the end of the bank day?! Really?!

[thotshot]

This is mostly a rant:
I’m practically tearing my hair out because of how long it takes for payout to get through to my bank account. Why does it take until the end of the banking day for a payment to arrive?
I’m not sure how long it takes for a PayPal transfer to show up in my bank account but I don’t recall it taking until 5PM EST for the money to show up. Razafrazzin.

[mtgraves7984]

Razafrazzin.

@thotshot 

Now that ^^^ is a rant that I can appreciate. (And use later...) Thank you for sharing! 😁

[ebooksdiva]

My bank clears deposits posted the same business day by 12pm. if the deposit shows after 12pm it's cleared the next day.

Each banks policy on deposits is different.

Just a guess.... your bank probably clears deposits by the end of the business day.

[monica-sells]

Love the Razafrazzin

anyways...just a to refresh your memory

PAYPAL:

Standard transfer to your bank account 
This type of transfer is free and takes 1-3 business days*.

as a point of reference to compare banks...

My Sunday ebay sales were in my bank this morning.....

[thotshot]

Looks like my experience with payouts is different from yours, since the payouts that I get as early as Friday March 25 for example, don’t come to me until Monday at 5PM.
The only thing we can do with the payout, until it shows up in our bank accounts, is using the funds for shipping. 
The best thing about getting money through  PayPal for me is that the money was available to me right away, so I could make purchases through eBay right away. AND I could simply make offline purchases with my PayPal debit card right away. I’m SoL with eBay payout until after 5PM. 
So those PayPal transfer times weren’t really an issue for me. Even if I chose the same day transfer, the fee was infinitesimal. 

[buyselljack2016]

PayPal "fronted" the buyer payment.  eBay/MP/Adyen does not do that.

[kensgiftshop]

My payouts are sent on Tuesdays and the funds are in my checking account that night or Wednesday morning.

If it takes longer then that, it's your bank.

[thotshot]

I’m well aware of the differences between banks. That’s inherently the problem with the payout system for me. A delay is a delay, no matter if I have to wait until the evening or the next day.  No matter if it’s you or me, the previous method of being paid took less time that it takes now, unless the buyer’s PP account was limited. You can’t argue that.  
I prefer not having to wait until eBay’s payout system decides to release the money to me and then I have to wait for the money to post in my account. 

[kensgiftshop]

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@thotshot wrote:

I’m well aware of the differences between banks. That’s inherently the problem with the payout system for me. A delay is a delay, no matter if I have to wait until the evening or the next day.  No matter if it’s you or me, the previous method of being paid took less time that it takes now, unless the buyer’s PP account was limited. You can’t argue that.  
I prefer not having to wait until eBay’s payout system decides to release the money to me and then I have to wait for the money to post in my account. 

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The reason we were paid so quick with Pay Pal is because they fronted the funds and gave us access to them.

When the buyers paid with credit/debit cards, Pay Pal had to wait just like we do to receive the funds.

They knew the payment was good and they would be receiving the funds in a few days so they let us have the money early.

[yuzuha]

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@kensgiftshop wrote:

My payouts are sent on Tuesdays and the funds are in my checking account that night or Wednesday morning.

If it takes longer then that, it's your bank.

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Same. I should also note that PayPal was exactly the same speed unless you paid extra for an instant transfer.

[jda05121]

Paypal is gone (at their choice) and past time for people to get over it.

[petes_o-s_amplifier_hoarding_problem]

Individual banking institutions processing times aside, when a buyer pays, the funds usually say that they will be available for payout upon the following day.. but not at the stroke of midnight, when the specified payout availability date officially comes to pass.. oh no no no, eBay likes to sit on it and collect interest for 23 hours and 59 minutes beyond the start of said funds payout availability date, waiting as long as possible to fork over what’s left of your money that they haven’t already nickled and dimed away into their own pockets, releasing it at the last possible minute before it would become considered a late payout.. drives me absolutely nuts as well.. 🤬

[fab_finds4u]

Why in the hell do people still commiserate about PayPal? 

[gator08041971]

Man, I wonder what its like to have payments in less than 24 hours.....

Mine are always 24-48.  Sometimes longer!  And that's from anywhere, not just eBay or PayPal.  Hell with PP, it can take 3 days on average.  My Chase rewards takes 3-5 to post a payment.

My Square storefront is minimum 24 hours, up to 48.

I would be happy as hell if I got paid sometime the same day I requested it.  lol

But that's me I guess.

[kh-laura]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread if you wish to continue to discuss this topic.

Thank you for understanding.