Interest?

[Anonymous]

Hello All,

  Just a general questions for sellers. Does any one know if we are going to get interest for monies on hold? Because I am pretty sure eBay is. I still hate eBay for for making us only use their payment services. I used to use Paypal (Shuuuh!!. Dirty word) But I also have a Square account. I know it's about protecting the buyer, but what about sellers being protected from eBay?

Tuke

[annadryl]

Oh I hear something poppin' 😏

[gwzcomps]

I could care less about the interest personally.  They probably aren't even making 1/100 of a penny a day off you.  I always kept a balance in my PayPal account of some sort.  The only difference is with PayPal I always had access to my money unlike eBay.

[dryophelia]

@Anonymous 

Previous to the current system of Adyen being the only option, PayPal was the only option. There hasn’t been a choice for payment processing for YEARS. PayPal isn’t a ‘dirty’ word, just the old system. 

Your payments go to Adyen to be processed. Once that is completed, Adyen gives the money to eBay. eBay takes their portion and sends it to your bank. It can then take your bank a couple days to put it in your account. 

This is the basic process. It’s how long it takes. Stop wasting time and energy on who gets what from that money before it gets to you.
What makes it seem that you need to make money on those funds as they move through the system?
Sellers are the pawns in the money systems of the world. The kings are not going to cut you in. 

[moxiedrinker]

I had my doubts about the "New System" Having a bank account instead of Pay Pal but it seems to work

[dbfolks166mt · Accepted solution]

     Probably not. There are no laws on the books that require eBay/Adyen to pay interest on funds held in what amounts to escrow. You can bet that just like PayPal either eBay or Adyen is collecting interest on those funds and they would be foolish not to do so. It's just like smart businesses do not pay their bills until the day they are due as opposed to when they receive the bill because the cash is earning interest up until the day it is expensed. It doesn't mean much at the smaller level but when you are talking millions the interest is significant. 

[1786davycrockett]

Would you like to be filling out additional state and federal tax forms for additional interest paid to you throughout the year?

Nah -- I didn't think so.

[bill.purvis2012]

I have no complaints about managed payments.  Works well for me. I like Ebay taking their fees out as we go along instead of a monthly bill. They transfer funds to my account every day. My bank has it in my account the following day and sometimes the same day.  Funds are released when item is shipped. Seems fair to me. I ship right away. So, it's all good.

[jimmyheartbreaker]

I guess, but when the buyer leaves positive feedback.. that's when the money should be released! There's no reason I had to wait for 30 days to get my money because it was $2000.00???? 

 Is what it is I guess, at least it's backed by Ebay.

[pjcdn2005]

The buyer can make an ebay claim saying that there is a problem with the item up to 30 days after delivery. Since you are a new or infrequent seller ebay wants to make sure that if there is a problem the refund will come from you, not them.

btw This thread was started in 2021 so this has been a complaint for a while, it's unlikely that ebay is going to change things.

[kh-gary]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread HERE if you wish to continue to discuss this topic.

Thank you for understanding.