ebay's New Payment System is TERRIBLE for sellers and buyers alike.

[sonisrising]

I'm a very small seller. That said I have been both a buyer and seller on the site for over 20 years. ebay's new payment notification is essentially a message that says "Trust us...you got paid...you'll see the money in a few days...hopefully." 

With PayPal we knew the money was in our accounts. Period. It was there. It may take a few days to get to your bank if you didn't use the instant payment option...but you KNEW the money was in your account. Now we just get a message that says the buyer paid. But we have to wait 3 business days to see it in our bank account. I'm sorry but that's not true verification of payment. Money in your account is verification of payment. This whole "I'll gladly pay you Tuesday" business model didn't work for Popeye...and it shouldn't work for you. 

To best serve our (and ebay's) customers, sellers either take a gamble...and send the item (buying postage from ebay of course) and hope the payment settles into our accounts...or you make the customer wait until the payment clears. So let's say you sell something on a Friday night, and the buyer pays immediately. It's still a minimum 2-3 business days before the money clears.  So let's say the money doesn't clear until Wed. Maybe I checked my bank account at 7AM before going to work and didn't see any money, so I left the item home. So now I'm not shipping until Thursday at earliest. If I'm shipping first class to the West Coast, the customer isn't getting their item until maybe Monday/Tuesday the following week at best. But with mail slowdowns...it's a toss up.  So now the customer has waited the 7 days of the auction and a week and a half to receive the item. That's a possible total wait of 2 1/2 weeks between the time a customer first sees an item they want and receiving it. Unless the seller just sends the item on good faith. 

I literally sent out over $300 worth of items today and have NOTHING to prove I was paid but an ebay notification. If you want to ruin faith and good will between buyers and sellers alike...ebay's perfected that. 

This is a very bad experience for buyers too. If I pay you on a Friday night...that payment may not clear for a seller until Wed. So now when does that seller ship? A week after I paid for the item? What if I decide to simply buy it from an online retailer who ships upon payment instead of waiting a week for some average Joe who doesn't even have a business license to ship me goods I paid for? Rant over...time to explore selling on social media. 

[rafra_96]

It's just getting bigger and bigger isn't it guys they're going to get a lot of trouble somebody's going to eventually sell them because this thing is getting bigger and bigger every day just watch and see. what happens

[mam98031]

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@umbra13 wrote:

"The sites are not responsible for this?" Bull**bleep**. The federal government's Office of Personnel Management was hacked some years back. My info was compromised; it had nothing to do with my computer or individual accounts. Kaseya, a supply chain provider, was hacked earlier this month, affecting 200 businesses.  JP Morgan Chase was hacked, along with E-Trade and the Wall Street Journal a few years ago. The Colonial pipeline company was hacked earlier this summer, leading to gas outages where I live. My concerns about ebay's se

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You are talking about two different things.  It is important to know the difference.

An account getting hacked does NOT mean the site has been hacked.  The instances above that you are talking about are site hacks.

But people get individual accounts hacked all the time on various sites without the site being hacked.

Last summer I had my PayPal account hacked.  PP site wasn't hacked, but my account sure was.

[mam98031]

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@rafra_96 wrote:

They are taking our money now, weth new fees,and also how you list your items. I was same as you a seller and a buyer. I will keep buying, I don't sell no more they started taking money. So I went elsewhere. My sales have almost doubled. There actually stealing from you my friend. They keep coming up with new ways to take money from everyone. They were awesome now theirs a rat somewhere.

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@rafra_96 

MP is a money processing system and it has nothing to do with how you list your items.  We still must comply with the selling rules of Ebay.  

Stealing requires deception.  Any seller that is unaware of what fees Ebay charges is simply not doing their homework.  It is public information for anyone to see.

The fees in MP have NOT increased overall fees. The following numbers represent those that do not have a store and the fee rate for most common categories [not all].

Fees BEFORE going into MP
10.20% FVF + 2.9% PP fees = 13.10% plus 30 cent per transaction fee.

In MP the fees are:
10.20% FVF + 2.35% money processing fee paid to MP = 12.55% plus a 30 cent per transaction fee.

Starting August 2nd, PayPal is raising their fees.

[north40sales]

There are several of those prowling the forums....

[clearbluethunder]

Couldn’t agree more. 

[m-segal]

On top of all problems with this New Payment System, we have to pay now almost 20% of the fees .. MONOPOLIES ALWAYS WIN....NO LAWS AGAINST THESE GUYS,,,,

[mam98031]

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@m-segal wrote:

On top of all problems with this New Payment System, we have to pay now almost 20% of the fees .. MONOPOLIES ALWAYS WIN....NO LAWS AGAINST THESE GUYS,,,,

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@m-segal 

MP does NOT charge a 20% fee in ANY category for any seller unless you are in the penalty fees caused by the Service Metrics or falling Below Standard as a seller.

For the Music Category you are charged 14.55% MP simplified fee plus 30 cents per transaction.  That is the fees without a store.  See link below.

https://www.ebay.com/help/selling/fees-credits-invoices/selling-fees?id=4822#section8

You can see the details of your fees in the Seller Hub under the Payments tab.

How are you breaking down that 20% fee?  Please specify so we can better understand where you are coming from on this.

[hipsociety2]

Think about how much interest eBay collects holding our money until they decide to "payout".

[hipsociety2]

The payment may have been approved, however, how many days does it take for you to get your money posted to your bank account? I sell, ship, and the item reaches my buyer before the money hits my account. If eBay wanted to keep our money for a couple days in order to collect millions in interest, they should have just said so!

[mam98031]

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@hipsociety2 wrote:

Think about how much interest eBay collects holding our money until they decide to "payout".

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@hipsociety2 

Think about this, Ebay has repeatedly said they do not.

Consider this. No one can earn interest on money they do NOT have in their account. So since when payments are Pending the money has not yet been received from the funding source, then earning interest on this money during this timeframe is simply NOT possible.

Once the money clears the Pending Status and moves to Available, it is transferred out to the seller on the next Business day for those with Daily deposits or the next Tuesday for those with Weekly deposits. So when that happens the money moves into the ACH Banking system to which MP has NO control over and the money is no longer in MP so there is no way for them to earn interest of funds they do NOT have. Once the money is transferred the banking system has control of the funds, not MP and the banking system determines how fast your money moves to your bank and your account, NOT MP.

[manualm0de]

So happy to see lots of comments like this. Im willing to bet ebay is going to lose a ton of sellers because of this change. I haven't sold in a while and was used to the old PayPal method where everything was fast and easy. I sold something today for the first time and was flabbergasted - I sold and shipped a $300 item, they took $30 in fees from it AND I have to wait 3 days before I see any money.

HOW IS THIS A THING IN 2021???? Every other app / service I use moves my money instantly, but ebay is stuck in the early 2000s. 

I sent them my thoughts and will be closing my account once I finally get my payment. I used to use ebay because it was fast and easy to sell things for quick cash but apparently they are making it more difficult than it needs to be.

[north40sales]

Think about it this way.....

eBay's official statement is this: 

"eBay initiates payouts to sellers’ bank accounts within 2 business days (Monday to Friday, excluding bank holidays) of confirming the buyer’s payment, unless the seller requests weekly payouts. eBay does not earn interest on pending payments, payments scheduled for payout, or payments that are in the process of getting paid out."

So their statement specifically outlines the three exact times that "eBay does not earn interest"....which is accurate, as they cannot earn interest on money that is inbound from the buyer but not deposited into eBays account yet, money that is withdrawn from their account for the ACH transfer to the buyer, or on the money that is in transit to the seller's account, but not a cleared deposit yet.  

[mam98031]

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@manualm0de wrote:

So happy to see lots of comments like this. Im willing to bet ebay is going to lose a ton of sellers because of this change. I haven't sold in a while and was used to the old PayPal method where everything was fast and easy. I sold something today for the first time and was flabbergasted - I sold and shipped a $300 item, they took $30 in fees from it AND I have to wait 3 days before I see any money.

HOW IS THIS A THING IN 2021???? Every other app / service I use moves my money instantly, but ebay is stuck in the early 2000s. 

I sent them my thoughts and will be closing my account once I finally get my payment. I used to use ebay because it was fast and easy to sell things for quick cash but apparently they are making it more difficult than it needs to be.

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@manualm0de 

You would lose that bet.  In the second quarter of 2021 Ebay just reported financial info for that quarter which included a One Million INCREASE in the number of active sellers on Ebay.

A $30 fee would be a 10% fee.  Depending on what category you sold the item in your FVF was likely closer to 12.55%.

I wish you well on wherever you end up.  Make sure you do your homework as all the larger sites like Ebay have their own money processing programs, none of them are similar to PP at all.

[anixi]

To all sellers, look up "quisling", you'll find this mam98031 described to a T.

[anixi]

quisling!