MANAGED PAYMENTS - yet again

[diossportscards]

This isn't working and it's funny when they charge you it is deducted right away from your funds.  I sold a $200 card on Sat. it stayed in processing til after noon today and is scheduled to be paid out tmrw. so I won't see it til Wed.  That is 5 days I mean I am very happy with the many added monthly listings, but this LONG wait time is costing me buying opportunities which in turn will cost them collecting more fees from me.  For God's Sake it's 2021 can we figure out how to get us immediate payments.  I can't wait 5 days to ship an item and I don't like mixing-in my off eBay work and life funds.  It's gets confusing so why in this day-and-age of instant information and transfers are you doing this to us.   Answer please.  DIO

[designsbytiti]

Immediate payments...hmmmmmmm...like, PAYPAL??

 The ONLY reason I can think of for Ebay to go to this managed payment **bleep** is so they can control OUR money. 

They Bleeped the word "parc" (backwards)??. Are we all back in Kindergarten??? Are they serious??

[diossportscards]

Funny.  I go to the Fleas on Sat. and or Sun. and if I had that extra $200 I may have landed another worthy find and had it up and likely sold by Mon.  They must make something off holding the funds, otherwise they are losing fees in this way.  DIO   

[rp12367]

Yep they are making interest on holding your money it's called float.

[vintagecraze50]

Most payment processors with credit cards take several days to process. Pay Pal was an entirely different system. PP fronted the money out of their own funds before the payment was actually processed. One day Ebay may be able to front the money but right now no. 

[vintagecraze50]

No, they are not making money on payments that are in process land. Process land is not a place where money is deposited for interest. If anyone is making interest it is the Martians in process cyber space.

[rp12367]

LOL you're absolutely insane if you think that's not the case... eBay did not take over payments out of their kindness of their heart to save you .01% over using PayPal. They will be making millions off the interest float alone a year. I am in banking everything is instantaneous nowadays there is no taking days for a check to clear that is a myth from the olden days it's all about the float now!

[kensgiftshop]

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@rp12367 wrote:

Yep they are making interest on holding your money it's called float.

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While the payment is processing, there isn't any funds to hold or make interest off of.

[pru2234]

I think eBay should keep our funds after a sale on our account for making purchases ourselves on here. Like most of ya I purchase new cards on here for inventory. They also need a quicker and more efficient pay out application. I didn't like the double fee hit from PP & eBay from the old way a few months ago, but it was instant & went straight into my PP. Because of the new pay out system I had to use my wifes checking account as a pay out option. I hate that too, because I keep my eBay/PP separate from my other accounts as to not spend money from our personal checking or other accounts. There should most certainly be something quicker, efficient & a way to avoid a double fee from PP & eBay.  I agree with you 100 percent!!!!!

[hagakure_antiques]

When I learned ebay was cutting paypal for managed payments I was very upset.

I even stopped selling on the site.. but I realized that business is all about profit, and ebay is doing what is profitable for them as well as the buyers and sellers (the great balancing act). This is true for all corporations and small businesses like myself. Of course there will be some growing pains, for it is still a relatively new system. Regardless of all our negative comments, ebay is still the top ecommerce site for consumers thus until I can call my own shots I realized that its all apart of the game of capitalism..and I appreciat the freedom of capitalism..its definitely a ladder to climb, but if you play well you just might win. I started listing again not too long ago..business is slow with very low views..had I not stopped selling, I would've developed more relationships with sellers and be doing better today. Its a learning process, but its worth it due to the amount of site traffic and buyer/seller friendly interface. Be optimistic friends,  and do your best!

Eroha