09-26-2019 12:33 AM
It's 3:18 am and I can't sleep. This is dreadful..I purchased an item on eBay for $2.68 with 38 cent tax..no problem..big drawback is that my bank sees it as 2 separate transactions..I was charged $37 + $37 overdraft fee.
Prior to that on Sept 23 I noticed that I was negative $30 in the bank..after work I deposited $60 in my bank's ATM..following day checked my internet banking and it showed $30 in the positive..I was happy..didn't think about it until today..checked my bank..it's -$80. I was charged $37 overdraft fee for 3 items...ironically a paypal credit card payment, and then an Ebay purchase, and the tax on the purchase.
I need to call my bank in a few hours, but eBay submitting a single charge as two separate charges is not cool..the ONLY company I know that does this..this resulted in me getting charged two overdraft fees..I hope eBay fixes this soon.
09-26-2019 06:45 AM
The issue is NOT that my account was overdrawn..the issue is being charged $37 EACH overdraft fee for TWO transactions, after I deposited $60 in my bank's ATM on the same day...was told that since the deposit was done AFTER BUSINESS hours, my deposit was applied next day.
No no no..it was a cash deposit in my bank's ATM. No reason for it to apply next day.
The solution is changing to a credit union..my local credit union accepts cash deposits in the ATM and applies it IMMEDIATELY the same day it is deposited.
This would not have been an issue if my current bank had more user-friendly policies..policies that benefited someone with no car and works second shift.
09-26-2019 06:47 AM
you need to bank with a bank that covers overdraft charges protection for a small fee.
09-26-2019 06:51 AM
You will find that ALL banks handle after hours deposits the same way. Anything after I believe 2PM tonight won't show until tomorrow. Good luck but this is on you not the bank.
09-26-2019 06:59 AM
I'm sure I'm not the only one that this has happened to..but the solution is NOT found in telling people to better balance their checkbooks..one $3.06 eBay purchase should not accrue a $74 overdraft fee because it's handled like 2 transactions...my bank sees 2 separate transactions..it doesn't see one transaction handled 2 different ways.
I just hope eBay fixes this, and quickly..until then, I am strongly considering relocating to a more user-friendly bank..not looking forward to setting up a new direct deposit though..ugh!!!
09-26-2019 07:02 AM
Ebay is not going to 'fix this', the tax must be a separate charge in order for Ebay to remit it to the proper state.
09-26-2019 07:05 AM
Not at HVFCU..if you make a cash deposit at 11:59 pm at one of their ATM's, the deposit is applied the same day.
I couldn't sleep last night and spent most of the time researching a solution to my problem.
From their website: "Our ATMS are located throughout the Hudson Valley corridor, accessible 24 hours a day, seven days a week with your HVFCU Visa Debit Card or ATM Card. Get cash, transfer funds between accounts, check balances, deposit or cash checks (most with $200 available immediately), make loan payments, and more."
09-26-2019 07:07 AM
I believe eBay will fix the procedure (which is currently not buyer friendly), considering it's pretty new.
Anyway, I found my solution, thanks for your post!
09-26-2019 07:08 AM
@varietymax wrote:I believe eBay will fix the procedure (which is currently not buyer friendly), considering it's pretty new.
Anyway, I found my solution, thanks for your post!
How would they fix it
09-26-2019 07:13 AM
Im pretty sure Ebay prefers to follow the letter of the law over being 'buyer friendly'.
09-26-2019 07:23 AM
It's not about one or the other..it's about following the letter of the law WHILE being buyer friendly...wow. I think I'm going to pull out from this conversation. Thanks for everyone's contribution.
09-26-2019 07:33 AM
@varietymax wrote:It's not about one or the other..it's about following the letter of the law WHILE being buyer friendly...wow. I think I'm going to pull out from this conversation. Thanks for everyone's contribution.
Which right now isn't possible. And may not be possible
I dont know how managed payments works so not sure if it would be possible through them? But then managed payments would be required by all sellers which may be comin anyhow ?
09-26-2019 07:44 AM
@varietymax wrote:The issue is NOT that my account was overdrawn..the issue is being charged $37 EACH overdraft fee for TWO transactions, after I deposited $60 in my bank's ATM on the same day...was told that since the deposit was done AFTER BUSINESS hours, my deposit was applied next day.
No no no..it was a cash deposit in my bank's ATM. No reason for it to apply next day.
The solution is changing to a credit union..my local credit union accepts cash deposits in the ATM and applies it IMMEDIATELY the same day it is deposited.
This would not have been an issue if my current bank had more user-friendly policies..policies that benefited someone with no car and works second shift.
I hate to burst your bubble, but if you deposit with a credit union after business hours, the same thing is going to happen.
This isn't on eBay, or your bank, it's on you for not taking care of your finances better.
09-26-2019 10:20 AM - edited 09-26-2019 10:23 AM
@varietymax wrote:..one $3.06 eBay purchase should not accrue a $74 overdraft fee because it's handled like 2 transactions...my bank sees 2 separate transactions..it doesn't see one transaction handled 2 different ways.
I just hope eBay fixes this, and quickly..
There is nothing broken needing to be fixed
Do you consider the amount of money that a bank is allowed to charge you for an overdraft to be appropriate, a just & fair dollar penalty ?
Banks are regulated by government, why not contact your government politicians to advocate & implement a overdraft fee reduction on the banks.
09-26-2019 10:56 AM
As for the 2 payments.. You have to remember. First, ebay takes the payment for themselves to pay the sales tax. The other part is sent directly to the buyer. Ebay would have to take the full payment, and then transfer the money for it to be one payment. Since paypal does the payment part for the sellers part, doing it in one payment would make it so that the money would have to be transferred 2 times for the buyer to get the money, not just once. That is where the problem is. In the store, they take the full payment, one part that goes to them, and one part that they collect for the state. The problem with the seller sending the money is.. Well, unless you are a high seller that is doing it as a way of life, and a business, most normal people that only have a few things that they sell, like at a garage sale, will not be sending it in as income. In those cases, people would not send in the sales tax to the state, and it would cause a lot of headache for regular people like me, that have only sold say 10 things over the years.. This just simplifies things for regular occasional users, and at the same time, it makes the state happy because they are guaranteed the money sent to them.
I agree with them.. If your bank account was balanced, then this just would not have happened from the start.. If it was just a $2 item, why couldn't you wait 1 day, and verify that the money was there, and the deposit was made before you bought anything. I know when I pay my bills, that is the first thing I do.. Check my balance to make sure that the money is there before I pay anything. This comes down to too much assuming, and less checking, which is what causes problems. It is no different from people buying things.. They just look at a picture, and assume things, and do not read descriptions, and then when something happens.. They find out that it was a stock picture, or such.. and something is off.. Then they get mad because things were not as they assumed, where if they took 2 minutes to read the description first, it never would have happened. I remember seeing bad reviews for an extension cord because people looked at the picture and thought it was black, and when it came in, it was green. The title, description, etc all said it was green, but they just assumed by looking at a picture. I think all people need to stop at times like this and just take that 2 minutes to check things out and not just assume without verifying things.. It would save a lot of problems if people did.
09-26-2019 05:07 PM
Alas! One must always make sure that you have enough money in the bank before spending it.