Are managed payments too slow?

[slpentico]

So I’ve been selling for a couple of years now and I was suckered into signing up for managed payments. Before managed payments I had access to my profits instantly after a sale via PayPal. With eBay managed payments I can use my profits to purchase shipping for a sale then I have to wait a couple of days while EBAY let’s the transaction sit in “processing” then wait a few days for the bank transfer to go through. This seams like a huge step backward. Why can EBAY not process cards instantly like PayPal could and why can I not transfer funds to my bank instantly like with PayPal? What’s is your option of managed payments. I honestly feel like EBAY rolled this system out a little half baked. Perhaps the only good thing about it is final value fees are taken at the time of the sale instead of being allowed to pile up into one shockingly pricey invoice.

[loveyourimagination49]

I just signed up a couple days ago, so really have no input on how long it takes.

When I had PayPal, I would never transfer the money out until at least 30 days or until I knew my buyer was completely satisfied. (180 days)
With that said, waiting on a payment will not make a difference to me.

[kensgiftshop]

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@slpentico wrote:

Why can EBAY not process cards instantly like PayPal could and why can I not transfer funds to my bank instantly like with PayPal?

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It takes a couple days to process the payments.

Pay Pal gave us access to the funds even before they had them, Ebay doesn't.

[luckythewinner]

EBAY let’s the transaction sit in “processing” then wait a few days for the bank transfer to go through

eBay does not "let the transaction sit" - that is just how long it takes mosts banks to clear a transaction. PayPal was willing to "lend" you the money immediately; but most banks do not. 

https://www.nerdwallet.com/article/banking/slow-mobile-payments

What’s is your option of managed payments.

I switched six selling accounts over the MP near the end of November. It took a couple hours for eBay to verify the switch, and I've been through four rounds of weekly payout with no issues. 

Are managed payments too slow?

Not for me. I run my business with a cash reserve so that I am not operating hand-to-mouth. 

[1grandmashope_1]

I've been in MP since August, and selected weekly payouts.  My monies are shown transferred Tuesdays and are in my account  on Wednesday without  incident. 

Best to you, 

Grandma 

[rxlrml35]

wow must be nice. 

[rxlrml35]

Your wasting your time asking these people there opinions. You know there slow and so do I.

[wrong66]

When I transfer money from my checking account to PayPal, it takes 5 business days. Nothing is as "instant" as you think.

[albanyauction]

Paypal is based in the US while the third party payment processor is based in Amsterdam Netherlands, this constitutes an international transaction, so the third party, (not ebay) collects the funds, then later it is transferred back to US bank account.   So money goes outside the US then comes back into the USA this is why it takes so long.   The mistake that Ebay made was in NOT following through in its first decision to create a payment system.  What they did do was to contract with an overseas third party entity instead of doing what they first said they were going to do.  

[cougarwooger]

The likes of all Banks and now Ebays processing time is about re investing YOUR money into offshore accounts to make extra profit over that 1 to 3 days wait. All electronic transactions are instant but there is money to be made using your funds

[computer_tech30]

This is Fing too slow, do I have option to keep it through paypal??? FU ebay, this is last time i sell it on ebay

[ecuriosities]

It is horribly slow. About a week lag between the sale and the payout.  My money is kept hostage for that time, and as a small volume seller, it is pretty terrible, especially when I have bills due and am trying to budget my money.  It’s greedy of eBay to try and save money at the seller’s expense. They need to find a better way because this current method does not work!

[ecuriosities]

Sheep.

[davidsbooksa2]

Sold three items worth about $110 and have balance of -$1.60. One is "on hold" (buyer never returned), one is "processing" and one has no information at all. Phone rep was sympathetic but not much help.

[rail-stop]

I agree, eBay payments suck!