No Payouts on the Weekends? Why Not?

[the.quality.goods.store]

For those of you who are new to the MP program this is how its been. I have been with MP since July of 2019.  Up until July of 2020 Daily Payouts were just that DAILY.  7 days a week Monday thorough Sunday.  Now all of the sudden they can't process on the Weekends?  Why is that?  Now you're lucky to get a payout from the previous week on the following Tuesday.  Someone is being dishonest or maybe they can explain why they were able to do it then but not now.

[rebell45]

I'm sure it's not so they can earn a little more interest off it. Their site, their rules.

[jda15121]

Because the US banking system does not transfer funds on weekends or holidays. Always been that way. Pretty simple.

[the.quality.goods.store]

Then explain why I received payments every Saturday and Sunday up until July of 2020. They make special arrangements just for me? How did PayPal do it?

[jda10121]

Paypal didn't. With Paypal you were living on "Paypal" float. Paypal made it look like everything was instantaneous. Sorry it's not. Never has been.

[jda10121]

Payments between two Paypal accounts could process 7 days a week because Paypal had the monies from both accounts and was making money on them. A transfer from Paypal to your bank account worked the same way as MP does. 

[the.quality.goods.store]

Ok. So MP was floating the money? It's not my imagination, payouts were 7 days a week up until July 2020

[mam98031]

[the.quality.goods.store]

When was that dated? I'm just saying, UP UNTIL JULY 2020 PRIOR TO THAT DATE I RECEIVED DAILY PAYOUTS INCLUDING SATURDAY AND SUNDAY.

[mam98031]

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@the.quality.goods.store wrote:

When was that dated? I'm just saying, UP UNTIL JULY 2020 PRIOR TO THAT DATE I RECEIVED DAILY PAYOUTS INCLUDING SATURDAY AND SUNDAY.

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I don't remember the exact date and I didn't save the email.  But the change happened in August of 2020.

@the.quality.goods.store 

[jda11121]

The federal ACH system has NEVER run on weekends and Holidays.

[the.quality.goods.store]

So did MP float the payments to me and everyone else on daily payouts prior to July 2020?

[raylearned]

This is my first experience since I was FORCED into the new “payout” system... I’m still waiting on “daily” payouts for items that sold last week. I’m selling on eBay again now because I’m laid off and need the money. Explain all of the “reasons” to my bill collectors. I’m sure they understand and are willing to wait ( no one knows how long ) 

“float system” or not - I was able to pay my bills and get my money via PayPal. So quick and easy. Now it’s just easy for eBay / buyers. And sellers are just employees waiting on a paycheck from eBay. I have better luck on FB somehow... after 20 years of eBay... this is disappointing

[mam98031]

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@raylearned wrote:

This is my first experience since I was FORCED into the new “payout” system... I’m still waiting on “daily” payouts for items that sold last week. I’m selling on eBay again now because I’m laid off and need the money. Explain all of the “reasons” to my bill collectors. I’m sure they understand and are willing to wait ( no one knows how long ) 

“float system” or not - I was able to pay my bills and get my money via PayPal. So quick and easy. Now it’s just easy for eBay / buyers. And sellers are just employees waiting on a paycheck from eBay. I have better luck on FB somehow... after 20 years of eBay... this is disappointing

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Once the payment is made by the buyer, MP takes 1-2 days to actually get the money moved from the funding source to your MP account.  Then it moves to Available for transfer.  It will transfer on the next Business day if you are on Daily deposits or on Tuesdays if you are on Weekly deposits. 

 Once the transfer is released into the ACH banking system, the banks are in control of the transfer, not MP.  This process may take 1-4 days for the money to arrive at your bank.  Smaller more local banks may take longer than a larger more main stream bank.

[motodad201]

This has turned into an absolute **bleep** show