Managed Payment - Not Paying

[janetnmark2010]

I have about 1200.00 Ebay is holding of my money. Today is Wednesday 9/9/20. About 600.00 of that was Sales on Friday 9/4/20. The rest over the weekend. I elect payments to go to my bank account DAILY. So why is it that Ebay has been Piecemealing me MY MONEY??? Today they sent to my bank  130.00 from 2 of my items sold on Friday the 4th. Which I won't receive in my bank until tomorrow.  I have requested they call me today. Call is supposed to be within 1 minute. It is now going on a half hour! Managed Payment is TERRIBLE! I wish I could use PayPal again. With Paypal the minute the person paid you could transfer into your account in minutes.

Look I Love Ebay, & I make a lot of money selling on it BUT...COME ON EBAY you owned Paypal you know how to get the money over faster! YOU GOT TO DO BETTER!

[chac.re.kfsyd1zylk]

I agree. Managed payments is a mess

[fewvfi0]

Oh yeah if everyone was honest things wouldn't have to be this way, unfortunately the truth is far darker than this.  That being said living hand in mouth is never a good financial strategy, ebay has always released my funds in some kind of an order. I don't pay too much attention to it but I think generally they're about 1-2 weeks behind the buyer's actual payment, it's all good.

[jack_bucks_ghost]

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That being said living hand in mouth is never a good financial strategy.

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Sorry, but I don't think "living hand in mouth" is generally a strategy, but more the result of financial circumstances. Quite a few folks are doing the best they can in these tough times, myself included. 

[powell-memorabilia]

Perhaps it wasn't delivered as it was intended.  My heart goes out to anyone struggling - and I admire that people are doing what is necessary to get by.  However, it might be better to have eBay "delay" these funds.  With eBay, you can sell an item, receive money, then get it pulled back because of an issue with that item.  For anyone just getting by, it would be worse to have that money pulled back than never to have received it.  

[glgenterprise]

Are your funds listed as pending or available?

Here is the basic thing that eBay has not really explained:

eBay is operating more like a traditional payment processor than PayPal did. PayPal fronted us the funds even before they had them. But we could also decide how much funding to leave in a PayPal account to cover things like shipping, refunds, and our own purchasing. In that way PayPal acted more like a bank, though they were not. It's also one of the reasons that some items are not currently allowed to be paid for through MP - the interchange rate is much different that standard retail transactions, and eBay does not want to deal with that nightmare processing.

While it seems like a credit card transactions are an instant transfer of funds, it really isn't. The funds have to come from the issuing bank (whatever bank's logo is on your credit card) to the federal reserve system, then to eBay's bank. Once it arrives at eBay's bank and has been identified as your payment, they change your funds status from pending to available. Then, depending on your requested payment structure, it is sent out as a deposit to your bank - another round trip through the fed unless you bank with the same bank that holds eBay's account. Most of the time, these major data dumps to transfer from one bank to the fed to another bank happen once a day, not on a instantaneous, 24/7 process, which is why it is sometimes 5 days before the funds hit your account from a sale, maybe longer depending on weekends and holidays and your requested deposit schedule.

It would be the same process if you ran your own B&M or website. We just got spoiled by PP fronting us the funds.

[jack_bucks_ghost]

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@powell-memorabilia wrote:

For anyone just getting by, it would be worse to have that money pulled back than never to have received it.  

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No doubt! I have lived that nightmare...lol.

[csbbct]

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@glgenterprise wrote:

Are your funds listed as pending or available?

Here is the basic thing that eBay has not really explained:

eBay is operating more like a traditional payment processor than PayPal did. PayPal fronted us the funds even before they had them. But we could also decide how much funding to leave in a PayPal account to cover things like shipping, refunds, and our own purchasing. In that way PayPal acted more like a bank, though they were not. It's also one of the reasons that some items are not currently allowed to be paid for through MP - the interchange rate is much different that standard retail transactions, and eBay does not want to deal with that nightmare processing.

While it seems like a credit card transactions are an instant transfer of funds, it really isn't. The funds have to come from the issuing bank (whatever bank's logo is on your credit card) to the federal reserve system, then to eBay's bank. Once it arrives at eBay's bank and has been identified as your payment, they change your funds status from pending to available. Then, depending on your requested payment structure, it is sent out as a deposit to your bank - another round trip through the fed unless you bank with the same bank that holds eBay's account. Most of the time, these major data dumps to transfer from one bank to the fed to another bank happen once a day, not on a instantaneous, 24/7 process, which is why it is sometimes 5 days before the funds hit your account from a sale, maybe longer depending on weekends and holidays and your requested deposit schedule.

It would be the same process if you ran your own B&M or website. We just got spoiled by PP fronting us the funds.

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I think there is room for eBay to improve on this though!  I know we will never get them to front the money like Paypal did because they just don't have the capital for it.  BUT, once the funds go from Pending to Available, they could make the process from there much faster by:

1.  Giving us the ability to do an instant transfer, like Paypal does even if there's a fee, of money from Available Funds to our banks.  I think this uses a direct wire transfer and is instantaneous to our bank account.  This would cut TWO days off the transfer process.

2.  Tweak the timing of their overnight process:  I'm seeing that they begin the process for the overnight transfer of Available Funds through the ACH system at 1:00am PST.  It normally takes around 3 hours for this to complete, then the files sit there for the ENTIRE DAY before it's picked up by that ACH system that next night, is processed and arrives at most major banks by that next morning.  So it is always a minimum of 2 days once the funds are in Available Funds.  In Paypal, as long as you requested a transfer by 7:00pm EST they could process it and get it to the ACH system that very night for it to be in our bank accounts the next morning.  There's no reason why eBay couldn't run their process earlier in the evening and do the same thing!  That would cut off at least ONE day for us to get our money. 

[blarneyrubble104]

Well explained, but the card processor we deal with at the brewery we own does daily settlements and Tuesday's business is in our bank by Thursday or Friday, not up to seven days later.  The processor is not affiliated with our bank so we aren't getting a super privileged processing time.  

eBay is currently into us for about $10K since they changed us over first of the month.  We average about $40K/month this time of year on eBay, basically 25% of our expected monthly revenue is currently in limbo with no solution.  

Our bank account we've had linked to PayPal for well over 10 years was allegedly declining payments from eBay.  With the issue being too difficult to solve in short order (that bank's closest branch is now 500 miles away) I opened a new BOA business checking account.  That account too is now allegedly declining funds.  I've contacted BOA and they don't see any attempts on their end.

Where eBay seriously screwed up was not doing test deposits on all accounts prior to program roll out.  Doesn't anyone else remember when you link up an account you have to verify two small deposits?  There was plenty of time for compatibility checks and they didn't do it.

Turns out on the original account we had trouble receiving funds, now it says: "Completed. Funds Sent".  They've never arrived.  I've been on the phone and exchanged emails repeatedly and now I'm stuck in "You have to wait beyond a 3-6 day window after it shows funds were accepted by your bank before you can make a claim to eBay if it didn't show up."

Apparently all is not well with this program, we went from 1 minute wait for a concierge call back to 114 minutes last night and "this service is not available right now" today.  Even worse is at least from the reps I've interacted with, eBay has no work-around to get sellers their money if they fall into the hole we are currently in.  We could have planned a whole lot better had we known this business would end up missing 25% of it's average monthly cashflow by the 9th of the month after this change.  We expected some sort of delay but nothing like this and we trusted eBay had already verified our account prior to switching us over.  That is the part that just rankles me.

"Are your funds listed as pending or available?

Here is the basic thing that eBay has not really explained:

eBay is operating more like a traditional payment processor than PayPal did. PayPal fronted us the funds even before they had them. But we could also decide how much funding to leave in a PayPal account to cover things like shipping, refunds, and our own purchasing. In that way PayPal acted more like a bank, though they were not. It's also one of the reasons that some items are not currently allowed to be paid for through MP - the interchange rate is much different that standard retail transactions, and eBay does not want to deal with that nightmare processing.

While it seems like a credit card transactions are an instant transfer of funds, it really isn't. The funds have to come from the issuing bank (whatever bank's logo is on your credit card) to the federal reserve system, then to eBay's bank. Once it arrives at eBay's bank and has been identified as your payment, they change your funds status from pending to available. Then, depending on your requested payment structure, it is sent out as a deposit to your bank - another round trip through the fed unless you bank with the same bank that holds eBay's account. Most of the time, these major data dumps to transfer from one bank to the fed to another bank happen once a day, not on a instantaneous, 24/7 process, which is why it is sometimes 5 days before the funds hit your account from a sale, maybe longer depending on weekends and holidays and your requested deposit schedule.

It would be the same process if you ran your own B&M or website. We just got spoiled by PP fronting us the funds.

"

[etxj_36]

Then why are Etsy sellers saying they get funds fast not delayed like eBay?

Same processor.

eBay is now dead too me. I sell daily. But the funds are delayed a week plus.

I'm leaving.

This site is a Democrat nightmare

[wrong66]

Yes, I'm sure it's political. Give us a break!

[mtgraves7984]

Oh, yeah... Daily Payout does not mean Next-Day Payout.

[esg-enterprises]

You are putting way too much thought into it. The simple truth is payment processing is something other companies have done for decades.

As has been mentioned other platforms use this processor and there are likely some issues from time to time, the difference is ebay.

I have told CSR's they are like government, whatever they involve their hands in they complicate and screw up. 

It has to be a combination of experience and just plain business sense, those making the decisions just seem so out of touch and lazy . 

As I have said many times, please sell the company to a group with some clue and sellers and ebay would be making profit out the wazoo, and ebay could do it through actual growth, not all kinds shell games.

[moraz]

So a payment that is in "processing" status means that eBay doesn't yet have the funds, and we should not ship the item?

[glgenterprise]

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@moraz wrote:

So a payment that is in "processing" status means that eBay doesn't yet have the funds, and we should not ship the item?

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This is what eBay has not properly explained. The funds have been "approved" and "put on hold" from your buyer's account. It's just not an instantaneous process for the funds to transfer from one bank to another. You're going to get your funds. As I said above, we got spoiled by PP "fronting" the money. 

Like when you go to the market, they run your credit card. Those funds are not available to you anymore, but the market does not get those funds for several days due to the transmission back and forth.

You should be shipping when the paid and awaiting shipping tab shows the item as "ready to ship". At the point it shows up there, you should ship within your stated handling time. Depending on your handling time, it might mean that you are shipping before the funds convert to "available" rather than "pending". But (outside of some odd transfers issues from eBay to your bank) you will get your funds.