Funds on hold policy
Hello everyone,
I just wanted to post this since it is definitely a point of frustration for sellers in Ebay these days.
Hopefully, Ebay will change these policies at some point if they read this.
Recently I sold an item on Ebay.
I included free shipping in the cost of the sale.
And had it mailed last week.
One major issue I encountered was with a funds on hold status in my order information.
I've been a member of Ebay for over 14 years.
As a buyer and seller.
I've maintained a 100% positive feedback score as a seller as well.
No disputes or issues at any point.
Since I haven't sold anything in close to a year, Ebay decided to freeze my funds until delivery confirmation of the item has been verified.
I really don't agree with how they decided to implement this sort if policy.
After talking with a customer service representative, they told me it was due to my inactivity as a seller .
I offered to verify whatever was necessary to expedite the process, but was told there was nothing I could do in this instance but wait..
Very frustrated with this..
They of course, immediately received their fees. Over $70 in listing fees just for this sale.
And will also collect a 10 percent fee in addition to what has already been extracted from my proceeds.
I mentioned this to them but this did nothing to expedite the process.
They received their cut so that's all that matters.
Furthermore, the package delivery is now delayed.
Despite the supposed guarantee of delivery within 2 to 4 days.
This time has already come and gone.
What's really sad is how the sale is actually in my state.
Maybe 2 hours away from where I live.
I paid around $60.00 to ship the item.
Which is ridiculous.
So, I won't have any money until it arrives at the destination.
I just hate how everything is all so conditional.
All of the hoops one must jump through to make a sale, without access to the money for the item sold.
I've never taken advantage of anyone here.
It just feels like Ebay has taken advantage of me in this instance.
Not at all happy with this or the postal service either.
The perfect storm I guess you could say.
luckythewinner
·1 year agoI really don't agree with how they decided to implement this sort if policy.
To be blunt, I do not think eBay cares what you think about their policies, especially when it comes to managing risk.
I've never taken advantage of anyone here.
Longtime, established accounts with a good reputation and no recent listings are *exactly* the sort of accounts that scammers like to hijack.
lux.ra_14
·1 year agoThis is a posting ID, but I've been a seller since 1997 with a spotless track record. Took my first break ever during Covid, and my funds were held when I returned.
Made sense to me, especially since my first sale after coming back was for $300-plus. I think it was the one and only item that a hold was applied to, so it does seem that account history is a factor. Zero inconvenience.
johnrj1226
·1 year agoLooks like you have only sold 1 item in the last 90 days plus your Feed Back received as a seller is older than 1 year - strong indications you are an infrequent seller of rather high dollar items - $400 to 500 range. When that happens - read all about it - here is eBay's policy on getting paid -
https://www.ebay.com/help/selling/getting-paid/getting-paid-items-youve-sold/payments-hold?
Feel certain you haven't kept up with all the changes in eBay's polices, rules or procedures since.
For the most part people are evaluated on how they perform today rather than what they did today versus what they did yesterday for just about all phases of ones life sales, job performance, credit ratings, what kind a car you drive or house you live in or the jeans you wear etc. How one views themselves means very little but the perception(s) of others means every thing.
Ciao & Pura Vida
mam98031
·1 year ago@r_m_c
Ebay has had a rule for many years that pertains to New Seller and sellers that have been away from selling for 90+ days. The following is the policy that outlines why you money is likely on hold.
https://export.ebay.com/en/fees-and-payments/payments/payment-holds/
https://www.ebay.com/help/selling/getting-paid/getting-paid-items-youve-sold/payments-hold?id=4816&&redirectedFrom=4155
albertabrightalberta
·1 year ago"Since I haven't sold anything in close to a year, Ebay decided to freeze my funds until delivery confirmation of the item has been verified."
"So, I won't have any money until it arrives at the destination."
Although you say you shipped the item last week and it will likely be delivered sometime this current week, don't be surprised or upset if the funds aren't released once tracking shows delivery. For the prices of your items, it's more likely that ebay will hold the funds for at least 30 days after delivery, the amount of time in which the buyer can open a return claim.
@r_m_c
Please explain what you mean by this: "And will also collect a 10 percent fee in addition to what has already been extracted from my proceeds."
ryry-jj
·1 year agoThis is just the way it is now selling on eBay. Sellers need to take more financial responsibility for the duration of the sale and ebay's money back guarantee. Nothing is hidden, it is all written out in ebay's policy.
Also ebay falls under new Inform Consumer Act that requires more info on buyers & the items they sell as proof we actually own them...this alone can slow down payouts.
Online selling isn't what it used to be
soh.maryl
·1 year agoRegardless of your stellar seller record, if it's been 90 days or more since you last sold on eBay, you are treated like a new kid on the block with the subsequent hold on your funds for up to 30 days.
Why is the package delivery now delayed? Are you holding it until you see the funds in your bank?
Another thing I don't understand is "and will receive a 10% fee in addition to what is still extracted from my proceeds". What 10% in addition? The final value fee for items on eBay is 13.25% in most categories, so have to ask, are you saying you think you'll be charged 10% in ADDITION to that?
PS: Your last sale was over a week ago. You really need to get that in the mail or you may have another problem you don't want. BTW: The above policy involving new or infrequent sellers isn't just directed at you alone. Everyone in your situation faces the same set of rules.
r_m_c
OP1 year agoI appreciate the follow up to my post.
Honestly, I have no idea as to the delay in shipping.
The item was mailed last Tuesday.
The tracking information simply says arriving late.
I opted for a 2 to 4 day delivery service through the Usps.
That time has already come and gone.
In regards to the additional fee, yes.
It's been a bit since I've sold on here obviously.
As I recall though, Ebay will typically tag on an additional fee of around 10 percent of an items final value.
Generally, this comes around a month after the sale.
Although it is possible this rate may have increased since I last sold an item.
I mailed the item as soon as I could.
And it hasn't been in my possession since last Tuesday.
mam98031
·1 year ago@r_m_c
"As I recall though, Ebay will typically tag on an additional fee of around 10 percent of an items final value."
I don't know where you got that from, but it is NOT TRUE.
Go to USPS website and review the detail tracking info.
On this tracking screen there is a place to file for email updates as there is movement on the tracking. Sign up for that so you get informed right away when something gets entered to the tracking.
Go and file for a TRACE, I don't recommend filing for Missing Mail just yet. The two are completely different actions. The Trace usually gets the job done quicker.
https://usps.my.site.com/emailus/s/package-inquiry
Contact your buyer. Keep all contact inside the INR filed so everything is recorded on the claim. Let your buyer know you are working with USPS to get their package delivered. Apologize for the delay. And let them know you filed a trace which takes between 48-72 hours for USPS to respond. As you get any information you will update the buyer right away. Assure your buyer that you are working this problem and will continue to do so until a proper resolution.
buyselljack2016
·1 year agoIn regards to the additional fee, yes.
It's been a bit since I've sold on here obviously.
As I recall though, Ebay will typically tag on an additional fee of around 10 percent of an items final value.
-------------------------------------------------------------
Time was eBay billed on a "monthly basis" for their fees.
Now eBay gets their %age almost immediately. No delay.
Back in olden days it was 10% with PayPal taking another 2.9%
Now eBay has their own payment processor, and fees are typically 13.25% of the entire buyer payment. %age can vary by category.
view order details will display what is happening $ wise
dbfolks166mt
·1 year agoThe funding holds are a PITA for a lot of infrequent or new sellers. Despite what eBay proclaims the only reason they do this is to protect their own posteriors. If something goes wrong with the transaction they don't have to worry about using their own funds to refund the buyer.
Once you found out the buyer was only about 60 miles away and given the delicacy of the item I may have worked with the buyer and asked them if they wanted to cancel the order, relisted the item with local pickup only and had them repurchase then driven the item to the buyer. I am pretty sure you could have driven the 120 mile round trip for less than $60 and would not have had to worry about shipping delays or potential damage in transit.
EBay will never read your post they do not monitor this forum.
r_m_c
OP1 year agoI hear ya.
They are definitely looking to cover their own behinds.
In hindsight , I would have probably delivered the package myself had I known there would have been this much of a delay.
Unfortunately, I didn't know this would be a thing.
The package left my local post office the same day it was mailed.
It wasn't until a day or two later that the arriving late message appeared in the tracking information.
Just frustrated with all of this.
The postal service delays are a major setback for me in this transaction.
mam98031
·1 year agoThat is a comment normally found in the Community from other members, NOT from Ebay.
This policy was started years ago to protect BUYERS. Stopping those seller that would come here, sell a bunch of stuff, collect the money and then disappear. Never to send the items. We use to have a real problem with this on this site.
So when the funds are held until a reasonable time to insure the buyer is happy, then there is less risk to the buyers.
dbfolks166mt
·1 year agoThat is a comment normally found in the Community from other members, NOT from Ebay.
This policy was started years ago to protect BUYERS. Stopping those seller that would come here, sell a bunch of stuff, collect the money and then disappear. Never to send the items. We use to have a real problem with this on this site.
So when the funds are held until a reasonable time to insure the buyer is happy, then there is less risk to the buyers.
mam98031
·1 year agoEBay or the community can sugar coat this anyway they want but the buyers are going to get their money back one way or another, either through eBay or through their financial institution. The funding holds have NOTHING to do with protecting the buyers it's eBay's way of holding funds to cover any transaction that may go afoul so they do not have to use their own assets to refund the buyer.
It isn't sugar coating. This policy existed a long time BEFORE Ebay became our Money Processor. BEFORE Ebay handled our money. So what was the reason BEFORE Ebay was our Money Processor? They couldn't earn interest on the funds. They didn't have control of our funds.
The community also claimed, often loudly, that eBay did NOT earn interest on held funds until eBay finally disclosed that they did in fact earn interest on those held funds.
Yes some of us on the Community did say that Ebay did NOT earn interest on money held once Ebay became our Money Processor, because they DIDN't. Not right away anyway. Ebay started onboarding sellers in July of 2020 to MP and completed it by the end of 2021. Ebay did NOT earn interest on funds held until late in 2023. So when we were saying they didn't earn interest, it was because they didn't.
How so?? Buyers have no clue the funds are being held but they do know, or at least most do, that they are covered by the eBay MBG.
True, but they don't need to know. And yes, most buyers will know about the MBG. That still doesn't change anything I've said about this subject.
monica-sells
·1 year agoThis is a conundrum that affects all infrequent sellers on most platforms. It is an unfortunate by-product of todays online market environment, Once you establish yourself, the payments are forthcoming as quickly as they are processed....
One statement that is factually incorrect.
"...They of course, immediately received their fees. Over $70 in listing fees just for this sale..."
They (I assume you mean ebay) have to wait just like us "frequent" sellers, for the funds to process before they 'receive' them.