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. 

[mam98031]

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You really need to get your facts straight.  I am no traitor to my COUNTRY, which is what that word means.  You know nothing about me personally and I have offered NONE of my political opinions here.  You have a lot of nerve to suggest such a serious thing.

Keep in mind that this is a Community Forum.  It isn't Twitter and there is no Cancel Culture here.  

@anixi 

[kensgiftshop]

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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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How are you paying 20% in fee's?

Since switching over, I'm still paying around 13%, same as I was paying when Pay Pal processed the payments.

[kensgiftshop]

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@hipsociety2 wrote:

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!

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I chose weekly payouts and they send the funds on Tuesday and the funds are in my checking account that night or early Wednesday morning.

And no, they don't collect millions in interest, they don't get any interest.

[kensgiftshop]

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@anixi wrote:

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

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"a traitor who collaborates with an enemy force occupying their country"

Don't know now you come up with that.

Just because you don't want to believe what they say, doesn't make them a traitor.

What enemy force are they collaborating with?

[jferrero68]

I just sold something for the first time in awhile and I hate this new system.  What other service pays you once the item is received or later???  Imagine ordering off Amazon and not being billed till days after the order.  I guess a perfect feedback rating now means very little.  I won't be using Ebay ever again.

[sadaoh]

There are other options out there to sell stuff. I am done with eBay. They pushed me out there door.

[mam98031]

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@jferrero68 wrote:

I just sold something for the first time in awhile and I hate this new system.  What other service pays you once the item is received or later???  Imagine ordering off Amazon and not being billed till days after the order.  I guess a perfect feedback rating now means very little.  I won't be using Ebay ever again.

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@jferrero68 

Because you are returning to selling after 90+ days away, there are certain security issues Ebay will be watching for on your account.  Which is why many years ago they created a policy specifically for this.  It isn't new and it will happen every single time you take more than 90 days off from selling.

https://pages.ebay.com/seller-center/service-and-payments/funds-availability.html

https://www.ebay.com/help/selling/getting-paid/getting-paid-items-youve-sold/pending-payments?id=415...

[edwardkoch1978]

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@anixi wrote:

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

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That is a bit much, but I am pretty sure they are a paid poster. Amazon got caught doing the same thing. 

[kensgiftshop]

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@jferrero68 wrote:

I just sold something for the first time in awhile and I hate this new system.  What other service pays you once the item is received or later???  Imagine ordering off Amazon and not being billed till days after the order.  I guess a perfect feedback rating now means very little.  I won't be using Ebay ever again.

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Your funds will be held because they consider you a new seller.

You know when you order off of Amazon, they don't get paid for a few days either, but they go ahead and send your order, don't they.

[chapeau-noir]

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@mam98031 wrote:

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You really need to get your facts straight.  I am no traitor to my COUNTRY, which is what that word means.  You know nothing about me personally and I have offered NONE of my political opinions here.  You have a lot of nerve to suggest such a serious thing.

Keep in mind that this is a Community Forum.  It isn't Twitter and there is no Cancel Culture here.  

@anixi 

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Not to mention that most 'cancel culture' is actually 'consequence culture', but responsibility and facts aren't as exciting as conspiracy theories.  The 'quisling' made me chuckle though, and I wouldn't take it seriously.

[mam98031]

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@edwardkoch1978 wrote:

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@anixi wrote:

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

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That is a bit much, but I am pretty sure they are a paid poster. Amazon got caught doing the same thing. 

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You are correct, it is a bit much.  And as has been explained a few times to you, I am NOT paid to be here or post.  ALL Ebay employees must identify themselves and the Ebay logo appears on their posts.  Also there entire post is outlined in blue.

I don't know why some feel that just because I'm knowledgeable on the rules that this somehow means I must be on the payroll.  Simply doesn't make any sense to me at all.  I have been a seller a very long time and over that time I've gained knowledge.  I also stay as current as I can on changes because I am an active seller.  It is in my best interest to know what the heck I'm doing.  

Not to mention that some members come here asking questions or asking for help.  If you offer that to them and they don't agree with you on what you have said, then they attack, sling mud or otherwise try to dismiss what has been said.  Simply silly.

[north40sales]

I chose weekly payouts and they send the funds on Tuesday and the funds are in my checking account that night or early Wednesday morning.

And no, they don't collect millions in interest, they don't get any interest.

eBay's public statement on this whole interest thing is very deliberately worded.   They specifically state the three times that they do not earn interest on the money.  

I am close to moving to weekly payouts as well simply for the ease of bookkeeping.   Back in the PP days I would leave money in my PP account for a week and then sweep it to my checking account.  The fact that PP earned interest on my money that I left in my account did not bother me in the least. 

[eleanor*rigby]

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@north40sales wrote:

eBay's public statement on this whole interest thing is very deliberately worded.   They specifically state the three times that they do not earn interest on the money.  

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Your statement implies there are times, other than those "three times," when eBay does earn interest on the money. This statement has been posted many, many times over dozens of threads.

Please enumerate those times when eBay does earn interest on the money. If your statement is a guess, or an assumption, or pure conjecture, please include that in your response.

[eleanor*rigby]

@north40sales wrote:

eBay's public statement on this whole interest thing is very deliberately worded.   They specifically state the three times that they do not earn interest on the money.  

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Your statement implies there are times, other than those "three times," when eBay does earn interest on the money. This statement has been posted many, many times over dozens of threads.

Please enumerate those times when eBay does earn interest on the money. If your statement is a guess, or an assumption, or pure conjecture, please include that in your response.

[north40sales]

Your statement implies there are times, other than those "three times," when eBay does earn interest on the money. This statement has been posted many, many times over dozens of threads.

Please enumerate those times when eBay does earn interest on the money. If your statement is a guess, or an assumption, or pure conjecture, please include that in your response.

You will have to ask eBay that question.   The only thing they have ever posted on it publicly is found in the Q&A section of Managed Payments.   I'll highlight in green the three areas that they specify that they do not earn interest.

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." 

eBay has never clarified what those terms actually mean, so its kinda up to the individual reader to decide.