Express Payout Changes

[willis009]

I just spoke with eBay customer support to get clarification of the new express payout fees that go into effect in July. There will be a flat fee of $2 on every express payout request, with a minimum $10 withdrawal. I guess they want to eliminate smaller immediate payouts by making them ridiculously expensive. I think they said, at present they charge 1.25% for the express payouts, which is actually reasonable especially when you want to take out a few bucks, but now any request under $200 is going to be MORE expensive than it is right now.

My brother @jwsrogers1980 and I are really just getting started on eBay, selling baseball cards, and we started to do some math on all the fees and little percentage points that add up, and they are making it very hard to make money on any smaller individual transactions. So, I guess I shouldn't be surprised that they've figured out a way to make it more costly and inconvenient to get the money you make from the sales that they are already taking a huge cut from.  

You might think a couple points, or a $2.00 flat rate here and there isn't that big of a deal, but when you multiply that by the huge number of transactions that they make per day, this little change is going to make MILLIONS more for them. Fewer users will make withdrawals this way, leaving our money in eBay accounts longer, even for just a few hours, if you get daily payouts. Giving eBay more liquidity in the markets for a longer period of time. Basically, using money they owe to sellers for money market deals, accruing interest and whatever other investments they want. 

Thanks for looking out eBay! I'm glad to be of service to your corporate greed! The next time my checking account or PayPal is a little tight and I want to get lunch or maybe I need to put gas in my car, I'll have to remember to add yet ANOTHER eBay `markup on the final price of getting that money from eBay on the spur of the moment.

Oh, and you may have noticed the banner on the top of your seller's hub page, announcing this change? With a link to "Learn More"? Right, that link just takes you to the standard payout FAQ page with NO mention of this new policy. That's why I had to call in and talk to someone. It took the rep more than 10 minutes to find the information about it, and then tried to put in the light that they were just making things "way easier" for me to get express payouts. I admit i got a little annoyed, and pointed out the fact that they are taking 20% of the minimum withdrawal. The rep stammered a bit and could only say that "it's just an easier transaction". I asked for whom and almost let my disbelief in how stupid they must think we are make me angry. Instead, I said never mind, thank you very much and hung up, and forgot to ask what the maximum amount you can withdraw at that "easier" $2 rate. I'll bet they've lowered that substantially too.

I would welcome any and all comments or explanations from eBay customer support here!

[solidguitar1961]

Ebay customer support doesn't comment on here . It is what it is and have to deal with it.

[willis009]

Thanks for pointing that out, I didn't know. I figured that they monitored these pages like they do everything else on the site.

[kensgiftshop]

If you need the money that fast, go to daily payouts and save the $2.

[ebooksdiva]

Why subscribe to Express payouts when they offer On demand payouts at no charge? 

[solidguitar1961]

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@ebooksdiva wrote:

Why subscribe to Express payouts when they offer On demand payouts at no charge? 

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Because sometimes people need their money faster.

[12345jamesstamps]

For one to be hooked up to Express Payouts you have to on Tuesdays payouts...that's once a week payouts.

Daily payouts would be better...since one wouldn't have to wait every Tuesday. Kinda can't have both.

I like express payouts for emergencies.

And I don't think new sellers will be able to hook up to this immediately plus those who sell something once every 3 months.

When I joined express payouts it was not easy to get it.

Should be interesting if changes will happen with this more changes coming.

[willis009]

Wait, I think you misunderstood. There is no subscriptions for "Express Pay Outs". Express and On-Demand payouts are one in the same. And On-Demand payouts aren't free even now . They charge 1.25% now, and that will be changing to the $2.00 fee. You can "subscribe" to daily pay outs, which disables On-Demand pay outs altogether. Or Tuesday payouts, weekly, bi-weekly or monthly.

[solidguitar1961]

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@12345jamesstamps wrote:

For one to be hooked up to Express Payouts you have to on Tuesdays payouts...that's once a week payouts.

Daily payouts would be better...since one wouldn't have to wait every Tuesday. Kinda can't have both.

I like express payouts for emergencies.

And I don't think new sellers will be able to hook up to this immediately plus those who sell something once every 3 months.

When I joined express payouts it was not easy to get it.

Should be interesting if changes will happen with this more changes coming.

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That's not accurate , I'm on "on Demand Payouts" as soon as the money becomes available I can send it to my bank for free ,which is available at my  bank the following day. Or I can send it to my debit card and is available within 30 minutes for a fee

[willis009]

But what if i need it before the daily payment is processed? Just being devil's advocate here, but what if you could get money out of the ATM daily, but just once on their schedule.

I know it's not quite the same. I am just trying to point out the fees are way different.

[buyselljack2016]

I have no emergencies that require me to get hit with a $2 (20%) fee on a $10 withdrawal, or the present %age fee. YMMV

Good move on eBay's part to save sellers some coin with the flat $2 that would only be a burden for sellers "expressing" less than $134

Flat $2 on $500, $1000, $2000 will be way better than the present %age fee cost.

I do weekly (tuesday), and on occasion switch over briefly to "daily" (M-F) to get a faster payout.

disclaimer: I am not eBay support

[solidguitar1961]

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@willis009 wrote:

Wait, I think you misunderstood. There is no subscriptions for "Express Pay Outs". Express and On-Demand payouts are one in the same. And On-Demand payouts aren't free even now . They charge 1.25% now, and that will be changing to the $2.00 fee. You can "subscribe" to daily pay outs, which disables On-Demand pay outs altogether. Or Tuesday payouts, weekly, bi-weekly or monthly.

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If you send it to your bank it is free . If you send it to your debit card there is a fee . 

[12345jamesstamps]

I am on demand payouts on Tuesdays in order to have express payouts.

At the moment I have to wait the next day for available funds after 10PM to receive them if a buyer make a purchase.

I can also withdraw my "available funds" after 10PM every night and receive them in a minute or less.

I think the wording can be confusing with on demand and daily payouts.

If I don't withdraw anything I get my funds on Tuesdays once a week.

This is how my account is. Maybe you have something different.

[willis009]

Right, sort of. You must be on a weekly, bi-weekly or monthly payout schedule. So you can use On-demand as soon as eBay makes it available. Yes it's free to process to you bank account but that takes at least 1 day. The fee I am referring to is if I want the money right now. That's what's changing.

[kensgiftshop]

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@solidguitar1961 wrote:

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If you send it to your bank it is free . If you send it to your debit card there is a fee . 

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It still goes to your checking account, even sending it to your debit card.