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!

[willis009]

I'm glad for you to be so financially secure.

Others probably aren't and like I said, I doubt that $2 will apply to larger withdrawal amounts.

It's not just about emergencies. It could just be convenience or personal preference. My point is they are making this change on the low end transactions, calling it easier, while they are definitely going to benefit financially from it by taking away options from the seller.

[solidguitar1961]

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@kensgiftshop wrote:

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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.

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When my sales from yesterday become available tonight at 12:46 am Eastern time (technical the day after Since I'm not on Pacific time) So Monday's payment will not be available to me till Wednesday . If I send to my debit card it is available at my bank within 30 minutes.

[solidguitar1961]

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@willis009 wrote:

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.

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No I'm not on any scheduled payouts . As soon as my funds are done processing and became available I say when and how I want it sent to my bank . If a choose to let it build up for 4 days I can or I can send to my checking account for free which takes an extra day for my bank to make available for use . Or i can send it to my debit card for a fee and the money is available for use within 30 minutes .,

[calicomapsetc]

Yes, it takes 2-3 days to get money into my bank account. One day for express. They have found yet another way to screw over sellers that they claim to love , especially the ones who have been with them since the start. I wish etsy was more friendly, but all are doing what they can to stick it to their sellers. 

[fernfossils]

I think he's saying that if you just switch to daily payouts you get money every day and don't pay anything.. and if you're express payout is 123 or more you're actually saving money so there is a very small window of time and dollar where this isn't beneficial for sellers. 

[lamb716]

Hi, I am on Daily Payouts but I’m still getting the $2 express payout fee. Is that right?! 

[casakelash2479]

I see you haven’t received an answer to your question yet, but I’m having the same issue. I’ve tried daily payouts and weekly payouts and I’m still being charged $2. Does anyone out there know how we can *avoid* this $2 fee? I’m a small seller, and $2 coming out of any payment I receive is actually a pretty big deal. 

[valueaddedresource]

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@casakelash2479 wrote:

I see you haven’t received an answer to your question yet, but I’m having the same issue. I’ve tried daily payouts and weekly payouts and I’m still being charged $2. Does anyone out there know how we can *avoid* this $2 fee? I’m a small seller, and $2 coming out of any payment I receive is actually a pretty big deal. 

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@casakelash2479 

The Express Payout fee is assessed any time you request an on demand payout to your debit card or anytime a scheduled payout occurs if your preferred payout method is set to your debit card instead of a bank account.

I've seen a lot of confusion here about this and it seems a lot of people are not even aware that you can set scheduled payouts to go to a debit card and that if you do, you'll be charged the additional fee for each and every one of those payouts.

To check your preferred payout settings, you'll need to go to the Payments tab in Seller Hub.

https://www.ebay.com/sh/fin

On the summary page, if you scroll down, it should show you your current payout method.

If that is set to use your debit card as the preferred method, you'll need to navigate through the "manage" link to change it to a bank account to avoid the fee - but remember that will then route payouts through the usual ACH bank account payout process which is not as fast as to a debit card (ACH is typically 1-3 business days, depending on your bank.)

[melstanis_79]

Lies… ALL lies. They customer service people are like little brainwashed oompa loompas that read what they are told too.  I just got the express payout. These people must not know how to drive on the expressway either.  24-48hrs until I can request the funds, I mean I’m not the brightest bulb, but that’s not what I call express. It’s supposed to be on holidays weekends within 30 minutes. This guy is telling me it’s in black-and-white how it’s processing I said fine with it should be done processing within 30 minutes. He said no it takes 24 to 48 hours I said, and that is not expressway payment and again lies lies about advertising. Whatever you wanna call it they’re full of it and they bc are  scam artist  and  taking peoples money under false pretenses. He continue to say that stupid verbatim crap I just have to tell you it’s processing it’s in black-and-white. I said if we’re gonna go to black-and-white route it is in black-and-white that I will be paid within 30 minutes. It does not say anything about processing in 24 to 48 hours anywhere any page anything, so I said if you want to talk black and white here here’s my proof so now what? They are a bunch of idiots and thieves and it’s disgusting. .

[valueaddedresource]

@melstanis_79 there are two parts to this and you seem to be confusing them.

The first step is the timeframe for when funds are processed from the buyer's payment method to the seller's eBay account - that is the 24-48 hour timeframe and depends a lot on the financial institution, credit card company etc the buyer uses to pay.

Back when PayPal was processing payments for most eBay transactions, sellers had immediate access to the funds within their PayPal account because PayPal fronted the money - that was a business decision they made.

While it was certainly a nice thing for sellers to have, it's not required that all payment processors do that and in fact eBay's current processor Adyen does not do that.

All of that is separate and distinct from the timeframe for processed funds that are now available in your eBay balance to be transferred to your bank account when a payout is initiated.

The second step, a payout, can only be initiated for funds that have already completed that first step.

Once a payout has been initiated it will either be 1-4 business days through standard ACH for those funds to be in your bank account or, if you pay the fee to process an Express Payout through your debit card, those funds will be in your bank account within 30 minutes.

Again, that 1-4 business days or 30 minutes for the step 2 payout timeframe is separate and different from the 24-48 hour timeframe for the step 1 payment processing.

And yes, all of that is directly and explicitly spelled out in black and white on eBay's help and policy pages for payments.

You're certainly free not to like that the payment process on eBay includes different steps and that each step has its own timeframe, but that doesn't make support "stupid" for explaining to you exactly how the process actually works.

[melstanis_79]

Every write up and description given to me does not mention the o processing time. I am not confusing two of anything. 
It reads as , buyer pays, and funds are available within 30 minutes. On weekends. Holidays, etc. Not days, not hours,waiting,  minutes! 
I currently have 3 free express payouts.   Not in one email did  it say about processing time. Maybe some people would know that. Either way, it should be stated when the express payout info is emailed. 

Please, do not put words in my mouth. I did not call anyone stupid. Read it again, I said they read that stupid script verbatim. Make a comment, and they repeat same thing. You must be confusing what it was I was actually describing. 

Thank you for the information 

[valueaddedresource]

@melstanis_79 

https://www.ebay.com/sellercenter/payments-and-fees/payments-and-earnings

[simba6]

You don't need to use the express option.   No point spending more money to get your payment a bit faster.

[top_sellers_239]

They still charge you $2 bucks for daily payouts. 

[hart-to-hart]

Thank you so much Willis009. I am so upset about Ebay forcing us to use Express Payout and your call and explanation really helps me to understand. They have us stuck like a deer in front of the headlights. I have over 6600 feedback so I've been on Ebay since 1999 and have seen a lot of changes. I don't want to quit. We are just stuck like the deer.