Ebay Refusing to Make Payout

[ffahmy1]

This is another example of Ebay refusing to make a payout while they hold our money and collect interest.  I have been a member for 24 years, same bank account and nothing else has changed.  First excuse: need to verify bank account....so they did that (by making deposits and withdrawals) and said that was o.k.  Second excuse: need to verify my social security number which they already had.  Did that and they said verification and they confirmed it was o.k.  Now they won't say what else they are looking for/at.  They keep saying they need 5 days not do a further review.  Every day the 5 days starts over.  In addition to being unethical, this is potentially criminal behavior.  They collected their fees (almost $1000) on day 2 after the buyers payment cleared and have been sitting on my money ever since.  I would warn anyone against making a significant sale on Ebay.

[lablover2002]

I’ve been a member on here for 18 years and always enjoyed buying and selling on this website but no more!

I sold  an iPhone and Ebay immediately took the fees out the very day the buyer paid for the phone.

I always ship my item(s) right away either the same day  or the very next day. I know the buyer wants their product.

Ebay got paid, buyer has the iphone and I’m still waiting on my money, even though customer service said I would have the money by today.

I also had to call them and let them know that the buyer received the phone when the Ebay website said it had  not been  delivered yet.

I also don’t believe that they’re not making interest off my money even though the website says they don’t.

Paypal was  better, you got your money and you could transfer it and have it in your checking account within a matter of minutes not days!

[bonjourami]

Paypal fronted the money before the transaction was even complete, good luck finding another payment processor that does that.

[ffahmy1]

Paypal finally released my funds today 3 days after the buyer had received the merchandise.  So at least I didn't have to wait 21 or 30 days to get the funds released as some suggested.  They insisted until the end that my seller status (hadn't sold anything since last summer) had nothing to do with the delay, but never could/did explain the delay.  As one member here sated (which was the most useful and honest response I received and I believe supports my initial claim/warning), ebay can delay payments for any amount of time for any transaction for any reasons without explanation.  Apparently, many sellers here are o.k. with that policy based on their staunch defense of these practices.  Again, there was nothing suspicious about my transaction.  Everything could be easily verified and I have a perfect track record.  As best I can tell, they asked to reverify the same bank account I have used from all my prior transactions and that took a couple days.  They then wait (after they say the verification process has been successfully completed), based on a computer algorithm (they said something to that effect), an additional 5 days from that day.  If this EXTRA 4 day delay (after verification) is for reasons other than collecting interest, no one can explain it.  I think this whole move away from paypal was just a scheme for them to make more money by playing middle man.  Even under 'normal' transactions, they do not release the funds immediately after they receive them from the buyer but wait a day or two.  A couple years ago when I sold a piece of jewelry for $2000 to a thrilled buyer, I got my money in my paypal account seconds.  In this case it will end up taking about 10 days.  At any rate, I was aware of the new process when I listed this item, but I wasn't aware of the possible delay for any length and any reason without explanation fine print.  Knowing that now, I will consider other options going forward. 

[mam98031]

This rule would apply to you.

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&&...

[ffahmy1]

They haven't even acted as a money broker/middleman for "many years", so I don't know how it could have been a policy for many years.

The fine print says "may" which I understand if there is something suspicious.  At any rate, they claim that this was NOT the reason my transaction was held.  The last time I sold something for $2000, I hadn't sold anything for 90 days and I got paid in seconds.  Oh well, got my money now.

[mam98031]

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@ffahmy1 wrote:

They haven't even acted as a money broker/middleman for "many years", so I don't know how it could have been a policy for many years.

The fine print says "may" which I understand if there is something suspicious.  At any rate, they claim that this was NOT the reason my transaction was held.  The last time I sold something for $2000, I hadn't sold anything for 90 days and I got paid in seconds.  Oh well, got my money now.

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The rules of Ebay on this subject don't require Ebay to be the Money Processor.  When PayPal was our money processor they had to adhere to the rules of Ebay and this rule was active then too.

Ebay always puts "may" in all kinds of policies they have.  It is to allow them wiggle room if they feel they need it.  

I'm glad your money has arrived safe and sound.  That is certainly GREAT news.

[ffahmy1]

Thanks mam98301.

re: When PayPal was our money processor they had to adhere to the rules of Ebay and this rule was active then too.

Which makes my current transaction/hold even harder to understand/explain.  If those same rules were in effect, it is hard to understand why a $2000 sale (with no prior sales near that transaction and no prior sales nearly that large of an amount) was allowed to sale through in seconds with no questions asked??   Oh well, like you said it is GREAT news that I have received my money.

[applewizz]

Having the same issue.. My Bank Card is issued through Wells fargo. But is from PayPal. I called Wells Fartgo to see if the routing and account number is theirs for my direct deposit for my Government checks. They said yes.. They issue the card..

Now eBay refuse to release my funds. They say the numbers are PayPal. I told them no it's not. It's issued by Wells Fargo..Hence the buyer got my merchandise. I get nothing. As eBay does need issue paper checks.. So they are stealing across state lines. As the buyer gets the product. eBay gets to keep the money. That is a felony under the R.I.C.O. act... under Money Fraud...

I have now contacted the Texas Attorney General. While having my Law firm file a response letter to eBay. They will have 30 days to respond..

[fab_finds4u]

Please start a new topic for your problem instead of posting on a zombie post from months ago.

[applewizz]

then eBay needs to tell you that. Not tell you the Federal Government Mandated it. As they sent that notice out a year ago. I filled it out and thought it was all good. Then when you only sell 2-3 items a year. You realize they make **bleep** up.

So they just need to tell the seller the truth. They hold your money up to make sure that doesn't happen.. At least your customers know the truth. Besides since when is lying to the customer okay with companies?

[mam98031]

@applewizz 

Managed Payments will not accept that Wells Fargo account no matter what you do.  It is because PayPal is NOT a bank and this type of account you can only get with a PayPal account.  I know it seems strange, but no matter what you do, MP is not going to accept it.  And until you give them an account they will take, they will hold your funds.

You can fight this as much as you feel you need to.  Nothing will change.  Ebay will continue to hold your funds until you give them the info they need.

Please review the below link carefully. It contains very important information as to how Ebay needs to see the information you provide them on your account. It is likely easier to change your Ebay account to match your bank account if you find there to be a difference.

https://www.ebay.com/help/selling/getting-paid/registering-seller?id=4792

https://community.ebay.com/t5/Payments-Resources/Have-questions-about-payments-Check-out-this-post-f...

[mam98031]

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@applewizz wrote:

then eBay needs to tell you that. Not tell you the Federal Government Mandated it. As they sent that notice out a year ago. I filled it out and thought it was all good. Then when you only sell 2-3 items a year. You realize they make **bleep** up.

So they just need to tell the seller the truth. They hold your money up to make sure that doesn't happen.. At least your customers know the truth. Besides since when is lying to the customer okay with companies?

---

Ebay has all kinds of new requirements since they became our Money Processor.  It is a strictly controlled process by the Federal government.  The Anti Money Laundering law applies too.

https://www.fdic.gov/regulations/laws/rules/8000-1600.html#fdic8000fra1020.220

[applewizz]

 What does that mean? Under that claim. You could close down every Pawn Shop on the planet.

My solution was just email the buyer. Tell them to request a refund. Then they can send my item back.. I will sell it some place else. As I don't need this hassle today..There are just too many other places to buy and sell from now..

And I would never not use PayPal to buy or sell. They have saved me from fraud to many times..

[mam98031]

I'm not sure what you are speaking to.  When did "pawn shops" enter the conversation.

Ebay does tell their sellers the truth, but the sellers have to take the time to read and understand the policies.

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&&...