Paying Sellers
This is 2023 when technology is core to banking, selling online and using an app to buy a cheeseburger at McDonalds. When I, as a seller, am charged for shipping label or costs associated with selling an item, eBay gets paid within seconds if not a few minutes. I know they can do it, but I guess they choose not to, pay the seller for the item sold in a day or so. Furthermore, I have noticed that when it says "processing" meaning taking money from the buyer and then giving the money to the seller, i.e., owner of the item sold, it even takes longer than a day. Many times, it takes well into the evening of the next day before funds are available to the seller. Why does it only take eBay seconds to take my money and days to give me my money? Double standard? Drawing interest off literally hundreds of thousands of our dollars for as long as possible? I believe this "greed" will be the downfall of eBay in the long run. And I can see a "class action lawsuit" in the future!
Thanks,
Dave
gone.c-33
·3 years agoThat cheeseburger has long completed its journey before McDonalds sees your payment hit their bank account.
joliztoyco
·3 years agoPoor old eBay can't afford to offer the sevices that Pal-Pal could.
eBay took that 2.9% that PAYPAL used to charge us, and gave us a crappier product.
But never missing an opportunity for a cash grab, eBay introduced their all new " instant payment " service for a 1.9 % of your money.
So for almost 5% you can now get what PayPal used to offer us.
For 2.9%.
The " new & improved" eBay.ðŸ˜ðŸ˜
bonjourami
·3 years agoPaypals fees have gone up.The 'new and improved' Paypal.
monica-sells
·3 years agoYou are aware that McDonalds does not have "immediate access" to that 2.29 you paid for that cheeseburger.....right?
They are subject to a processing time before it is recorded as cash in the bank......
When you pay for anything with your credit card, those funds are not cash to the vendor for a few days. In my B&M store, it is deposited with 48 hours and only then can I pay bills with it....
and if I am reading this right, you are complaining that you can buy a shipping label through ebay with funds that aren't cleared yet?
that would be the first time I have seen anyone complain about that......
fab_finds4u
·3 years agoYou are wrong on so many parts.
Your money may be sent to McDonalds instantly, removed from your account when you pay but it does not clear into McDonald's account instantly. It doesn't get to eBay instantly.
ADYEN receives your money. They're the payment processor for eBay.
eBay has stated they don't earn interest on pending payments or payments in the process of being paid out.
They can be earning interest on their seller fees they withdraw from the the payment if those fees are deposited in an interest bearing account.
You better read up on the user agreement you signed agreeing to all eBay's policies and decisions, and especially about lawsuits.
Someone else will explain about ACH transfers but I think they take 1-3 days to process, longer than a than wire transfer, credit card transactions and ATM withdrawals.
A lot of sellers think because payments hit their PayPal account instantly that eBay is deliberating withholding the payment. PayPal fronted the money while they waited for it to clear. ADYEN and eBay do not front.