Ebay takes FOREVER to process payments... is this ever going to change??

[dcmerc2012]

Time to vent.

I've been selling on ebay a long time and remember the good old days when a buyer paid for something it would be in my bank within the hour or less. But now, since they broke ties with PayPal it seems to take many days for payments to process. This is getting old. We live in a modern world with all kinds of technology, can someone explain why eBay still takes the same amount of time to process an electronic payment as it would if the buyer literally mailed me a check like it was 1975?

This is ridiculous. Get with the times for godsake. Having a site like eBay have the same kind of payment processing speed as snail mail is laughable. Pretty much every place else on the net that deals with payments (Etsy, Shopify, etc) all process instantly, if not at least within 24 hours. I have had payments on ebay take 4 to 5 days to get processed and since they don't process over the weekend it can stretch it out even longer depending on when the buyer has paid.

Can someone please remind eBay that it is 2023?

Thank you. 

[kensgiftshop]

Ebay and Etsy use the same payment processor.

The reason we got paid faster with Pay Pal, they didn't wait for the payment to be processed.

When Pay Pal processed the payments, they had to wait for the funds just like we do, but they gave us access to the funds, which Ebay doesn't.

[joliztoyco]

I can sympathize with your view. 
However other sellers wish to gaslight us, Managed Payments" is NOT an improvement over PayPal.
Not even close.
But Ebay was basically forced to divest themselves from PP, so they invested a large chunk of cash in a willing  Ayden.
And cut a sweetheart deal that was beneficial to both.
I know..I know, fellow sellers...here comes the " there was no "nefarious sweetheart deal".
"You're imagining things".
But I do one thing many of you don't. Being a "numbers" guy I ACTUALLY parse Ebay's quarterly and yearly reports.
And found this amazing stat buried in that word salad of a yearly report that's 3/4 public relations and 1/4 hard data:

Year Ended Dec2021
Ebay reported 19 million in "interest income"
Year ended Dec2022
Ebay reports "interest income" of 73 million.
A 284% INCREASE in one year.
Is this the result of delaying payments to sellers?
I don't know.
But it does seem like a fortuitous "coincidence" for both eBay and Ayden.
Let's face it. SOMEONE is making interest money off that great big pile of cash that Ayden holds.
If not Ayden and Ebay then who?

[yuzuha]

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@dcmerc2012 wrote:

I have had payments on ebay take 4 to 5 days to get processed and since they don't process over the weekend it can stretch it out even longer depending on when the buyer has paid.

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That would be due to the payment method the buyer used, not eBay. I'd be willing to bet you that those buyers paid with an AmEx card because AmEx is NOTORIOUS for having ridiculously long processing times-- it's part of the reason why many B&M stores don't take AmEx.

[monica-sells]

"...remember the good old days when a buyer paid for something it would be in my bank within the hour or less..."

I am not disagreeing with your stance, but I don't recall having money in my bank account within an hour of the sale...

It always seemed to take 24 hours or more for the money request to leave PP and get to my bank. Or am I having a senior moment recalling the good old days again?

and, in my case, A Monday sale was just sent from ebay (frequent seller)

I am still waiting for a sale from last week over at etsy (not so frequent)

[postcardcountry]

Credit card processing for my former employer:

Nothing processed on the weekend.

Debit card charges made Mon-Friday took less than 24 hours but you have to pay a fee of 1.2% in order to get it quicker than other payments.  Other wise debit cards generally took 2-4 days.

Credit card charges need to clear before the funds become available. 2-4 days is normal, except for American Express which seems to take forever.  Then it gets send to your bank.

I know because we researched a new credit card processor last year...they were all the same.

So I don't expect eBay's processing to be much better.  I guess since I was one of those people who cleared their PayPal account  when it hit a certain amount, I don't really notice a delay on eBay's part.

What I do miss, and eBay has apparently misunderstood, is deciding when and how much I wanted to send to my bank.  Their last set of changes, including time periods for them to auto deposit is not what I was looking for.

[kensgiftshop]

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@yuzuha wrote:

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@dcmerc2012 wrote:

I have had payments on ebay take 4 to 5 days to get processed and since they don't process over the weekend it can stretch it out even longer depending on when the buyer has paid.

---

That would be due to the payment method the buyer used, not eBay. I'd be willing to bet you that those buyers paid with an AmEx card because AmEx is NOTORIOUS for having ridiculously long processing times-- it's part of the reason why many B&M stores don't take AmEx.

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Years ago when I accepted AmEx on one of my sites, sometimes it'd be two weeks before they released the funds.

I didn't accept them very long.

[dcmerc2012]

If you attached your debit card to your PP account then yes, you could transfer your incoming payments directly to your bank instantly. If someone bought something on eBay, it was of course in my PP balance instantly. Then I could go to my PP account and transfer it to my bank with a click of a button and it would show in my balance in less than a minute. It was back in that time when at least that part of the world worked properly.

[kensgiftshop]

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@dcmerc2012 wrote:

If you attached your debit card to your PP account then yes, you could transfer your incoming payments directly to your bank instantly. If someone bought something on eBay, it was of course in my PP balance instantly. Then I could go to my PP account and transfer it to my bank with a click of a button and it would show in my balance in less than a minute. It was back in that time when at least that part of the world worked properly.

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Yes, it was credited to your account instantly.

But Pay Pal didn't receive the funds instantly, they had to wait like we do for the funds to be processed.

[joels-retrocade]

Those were good times lol.  New system is garbage; I hate the schedule.  It should be just one button, deposit money now and that's it lol. I can't tell you how many times I had like 10-20bucks sent to my account because I always have to remember to do the dance with changing the scheduled payout.  Extremely annoying

[discountdenimdeals]

I get all of my deposits within a couple days. It is most likely your bank that is causing the delay. 

IF that doesn't work you can always stop selling on ebay. I mean no one is forcing you to be here.

[monica-sells]

I am nobody special....and I don't know about sliding a pole...haha

but a 2 day processing time is pretty normal for me (less than 48 hours in this case...sometimes even quicker, but sometimes a few hours longer, too....)

[yuzuha]

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@dcmerc2012 wrote:

It has nothing to do with my bank, genius. I am not talking about deposits, I am talking about the time it takes eBay to "process" payments and make them available for deposit.  I don't know who's pole your sliding to get your money released in two days, but that is NOT the case for a lot of people here. 

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It's almost always 24 hours for me. The buyer makes a purchase, and the funds are processed and available for payout by the next evening.

[2202thumper]

It doesn’t take a rocket scientist to realize exactly what’s going on and let’s couple that with the fact that you can shop immediately on eBay with your funds

[2202thumper]

Can we also remind them that it’s our money. We are their customer not the other way around.