Ebay payment program will bankrupt me

[kingdiamond91]

I can't be waiting around 6 to 7 days  to receive funds i have invoices to pay  credit cards  mortgage     why can't you make it like PayPal  get your funds sent to checking account instantly  .this is totally **bleep**  even Amazon market place doesn't make you wait around this long  i been selling on there platform  just as long as i have on ebay 20 years 

[helpmechill1]

Agreed

[dryophelia]

@kingdiamond91 

Are you saying you’re getting instant payments on Amazon like you did when PayPal was your payment processor on eBay?

Adyen, the new payment processor for eBay sales, is the same company that Amazon uses. I don’t know why your payments would be released faster there than eBay. 

[go-bad-chicken]

@dryophelia said

"Adyen, the new payment processor for eBay sales, is the same company that Amazon uses. I don’t know why your payments would be released faster there than eBay. "

Amazon does not use Adyen for its payment processing services.

[powell-memorabilia]

Understood that waiting for money is a big change with MP.  However, a float of money is necessary, regardless of whether using MP or PayPal for payouts.

The illusion that PayPal created isn’t healthy – money in your account isn’t free and clear for 180 days!  Life happens – returns, in-transit damages, faulty item, seller sent the wrong item, buyer returns the item, massive shipping delays, etc..  At least with MP, if a buyer isn’t using PayPal, you are usually looking at a thirty-day window.  Huge improvement!

If you are pulling out all of your money as soon as you receive it, and spending it, that is a huge risk for you.  If a delay of a few days will bankrupt you, for your sake, please look at finding a way to tighten your belt.  If there is a dip in sales, that extra money come in (because of the delay, meaning that you’ll have a few days of payment receipts after a sales drop) will come in handy. 

[donsdetour]

Bank rupt you??

Maybe you need to find a diferent line of work or some other thing to do.

I do wounder how any of these folks would have handled eBay in the early days of checks MO etc.

Having to wait untill cleared etc.....

It sure is the  (I want it NOW) generation.

Advice is to put some money back to have a cushion for shipping etc like most business do.

[mtgraves7984]

For what it's worth, my buyer's payment is my bank deposit in 4 business days. I've been in MP since August of 2019, but notice consistency in a 4-day wait since August of 2020. Good luck to you.

[leximay524]

Same here it’s awful. I hate the wait. Do you have your acct set to daily payouts and not weekly?  I heard using a bank like Chime processes faster but still would not get it same day since processing takes usually a day alone.  I do wish we could use our PayPal routing and acct number for deposits though since it is thru a legit bank - Wells Fargo!   I really wish they had an instant bank transfer option like Mercari and PayPal. 

[mam98031]

That is a curious statement.  How does waiting a few days for your money mean you can't pay your monthly mortgage?  Do you make weekly payments on your mortgage and CCs?

Once the payment is made by the buyer, MP takes 1-2 days to actually get the money moved from the funding source to your MP account.  Then it moves to Available for transfer.  It will transfer on the next Business day if you are on Daily deposits or on Tuesdays if you are on Weekly deposits. 

 Once the transfer is released into the ACH banking system, the banks are in control of the transfer, not MP.  This process may take 1-4 days for the money to arrive at your bank.  Smaller more local banks may take longer than a larger more main stream bank.

As for Amazon.  That would be a NO.  While you can request them to send your payment instead of waiting a week or two [however you have your account set up] before they auto release deposits, their processing of that payout is SLOWER than Ebay's MP.

For example:  I do Weekly Payouts in MP.  Every Tuesday morning my payout is sent.  I have that payout deposited in my bank before noon on Wednesday.  I do bank with a major bank so that helps.  Some smaller more local banks take longer to record deposits.

Now with Amazon, if I requested a payment on Tuesday morning from them, the deposit would NOT arrive at my bank until Thursday or Friday.  And Amazon also does not process on non business days.

[disneyshopper]

Now with Amazon, if I requested a payment on Tuesday morning from them, the deposit would NOT arrive at my bank until Thursday or Friday.  And Amazon also does not process on non business days.

I didn't know that.  I had always read that Amazon sends out payments 2 weeks after receiving it.

[mam98031]

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@disneyshopper wrote:

Now with Amazon, if I requested a payment on Tuesday morning from them, the deposit would NOT arrive at my bank until Thursday or Friday.  And Amazon also does not process on non business days.

I didn't know that.  I had always read that Amazon sends out payments 2 weeks after receiving it.

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I've sold on Amazon for many years.  Mine is set at every two weeks but I can ask for a deposit to be released sooner whenever I want.  But Amazon is no where near as fast to process a payout as MP or PP are.  Amazon will take 3-4 days.