mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@snapzut wrote:
- I tend to agree with jmuoio. Its interesting that eBay takes their fees when the sale is made, but before the buyer pays??? What about these $#%%% buyers that take 4,5,6 or 7 days to pay? I enjoyed PayPal because is was like a forced savings account. If my (meager) sales proceeds go to my checking account, I'm afraid it'll just dribble away. I had hoped to have the funds transferred to a savings account, but now I see that that is not allowed.
PP took their fees out of our payments too.
Most other sites that have money processing programs also take their fees out of the payments received.
The buyer has paid in MP at the moment your buyer submits the payment. Just like when you go to a retail store and pay for something with a CC, you get to walk out with the product you bought. But still the payments have to clear and the literal money transferred to the retailer. Same with MP and PP. The funding source a buyer chooses gets pinged at the time of payment to get authorization for the payment. That ping does NOT get money transferred at that time. Money doesn't move like that in a nanosecond. It takes 1-2 days sometimes less. But your buyer has paid.
I get it you want the money in your bank account. I respect that and you have every right to wait until that time before you ship to your buyer. Some sellers in MP do that. They extent their handling time in their listings to accommodate the additional wait time before you are willing to ship.
Open a separate checking account. Don't put your money from MP into your personal checking. That may help you to save the money.
@jmuoio wrote:there’s always someone who thinks they’re smartest in the room and corrects the OP? instead of the topic
EBay isn’t rooted in financial services and now they’re going to try it. Sadly, it probably won’t be long before there’s a huge breach because they don’t have the proper approach to financial services, their IT QA is dismal, with service even worse.
the point of my post being we have been forced to expose our information and use a substandard provider for payment processing without warning, support, or documentation and they just don’t care as a monopoly.
It’s another virtual monopoly forcing customers into behavior for their own benefit. Here, it’s the days of my money in their pickets for free for a while and immediately getting their cut instead of waiting gor me to pay.
But in my case, they do wait to take their cut until buyer pays.
Amazon will do things like this soon too. Strategy: “Rope them in with cheap Prime, liberal returns, inexpensive shipping and prices, put competitors out of business, then bring the hammer down on a captive base.
It is likely your assumptions that cause you the most problems. "there’s always someone who thinks they’re smartest in the room and corrects the OP?" Simply because someone is an OP doesn't mean they are all seeing and all knowing. And that what they say can't possibly be wrong or there is no other way to view something.
You and others brought up points and I responded. It is nothing more than that. Trying to read between the lines is likely to cause misunderstandings that simply aren't necessary.
OMG Amazon has had their own money processing program for many years. They have not need to do this as they did it a long time ago. As did Etsy, Mercardi, Offerup, Poshmark, and more.
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