Managed Payments Issues

[cleviebee]

Recently, I enrolled in Ebay Mangeed Payments for sellers because the indicastion was that my selling acount would be limited if I did not switch from Paypal to Managed Payments. I have been very disappointed and frankly, I feel defrauded by Ebay, because I still have not received funds in my account from a sale 3 days ago. I miss Paypal, when I transferred the funds to my bank account myself, and the money was available the next day. I would like to hear from other disgruntled sellers and discuss ways around this inferior system.

[mastrmegatron]

I've had available funds for 2 days with no payouts. And now the screen says I have no payouts scheduled.

[omega-glory]

"although eBay is acting on the sellers' behalf"

That one made me laugh out loud.   

[flixstuff]

It's a step backwards. Sad.

[flixstuff]

Yes.  My first MP sale was on a Thurs., evening; buyer paid Fri., morning- eBay too until Monday to 'process' then sends email saying processing complete and $ will be sent to bank in 3-4 biz days.  So the wait is on. That's essentially a week between a sale and $ in your checking acct., for you to manage. Making 'customers' the buyers and sellers wait is a poor biz model.  W/Paypal, it was there in your acct., virtually instantly. This MP program is a step back in this era.  Sad. 

[flixstuff]

20 years on Ebay; plan to reduce listings because of this. If I sell an item for $10 or $20-- they make you wait a week for payout... silly.  And yes, seller ships out items and waits for $$... seller is last one on daisy chain to get $$.  This is a step back. 

[flixstuff]

20 years on eBay; first MP transaction on a Thurs., evening;  buyer paid Fri. morning; Fine by me. eBay took weekend to 'process' and 'payout' completed Monday- -w/email sent saying $ will reach bank in 3-4 biz days.  Do the math- -that's a week to wait for a transaction to be completed and $ in your account to control.  Hard to follow, too-- have to keep calling bank to  keep track and confirm $ deposited. So far- no. So buyer waits, seller waits...  really not a good system compared to what they had... finance isn't their forte; so must wait for my $ from the first MP purchase.  Doesn't seem like a seller friendly system. A step backwards.  So will cut back listings. 

[coolcarcrafts]

I had no choice but to sign up after ebay blocked me (extorsion) from listing any new items until I switched over.  The system works but is clearly inferior to PayPal & less convenient for sellers.  I sold 2 items last Thursday for which the funds are still processing! I can understand waiting for items sold over the weekend, but items sold during the week should be available within 24-48 hours.  Ebay is still telling you to ship the item while they take there time "processing" the funds.  If the buyer cancels during this processing stage, sellers are likely going to take a loss.  Good luck hoping the buyer returns the item!

[olearious2012]

I use to be in banking. Since I retired, I started selling on ebay for extra travel money etc..

In January I was forced to start using "managed payments", or as I like to call it: getting F#@&%D by ebay!

First I opened a separate checking account, because ebay has NO business in MY business.

As soon as I sold the first item I noticed it took at least 3 days to get MY MONEY! When it was paypal I got it instantly! So I asked my new bank about this. They said they were NOT the hold up! That money from another source would be transferred into my account instantly, when they received it from that source.

Now I don't know what kind of world you've been living in, but who sells you a product, ships the product, then will wait days for your money to go into their account?

Here's the reason, and I know this because I was in banking for over twenty years. 

Our money that ebay takes from OUR customers, only has to sit in ebays account for a minimum of 24 hours for them to accrue interest... Sooo, 2 BILLION transactions PER DAY, in US DOLLARS... You do the math!!!

They need to be STOPPED! I'm just waiting for the class action suit, and I'm jumping in! The interest they collected on MY MONEY plus damages. Lets DO IT!

[deltilogical]

Since you approve, can you tell us how it improves our business to have the immediate payment now delayed by a week?

[jbirders]

I have the same disappointing experience with Manage Payments.  Use to be I would have funds available to use in my PayPal account as soon as the buyer paid.  Now I have to wait 2 days for funds to be available for payout, and then another up to 4 days for it to clear into my bank account.  6 days versus immediately isn't an improvement to me at all.  ebay doesn't seem to have their consumer in mind with this new program.  You can do better, ebay!

[kaylybon0]

you have 2 choices sign up for MP to keep selling or go somewhere else. sounds forced to me.

[speaksportscards]

This new Ebay management system is **bleep**. What makes it worst is that Ebay insults my intelligence by pretending that this new "system" is somehow better for us. How could it be better when right now, I get my money instantly through Paypal. This new **bleep** system, we'll have to wait up to 5 business days to receive our funds in our bank. Thus, having to rely on Ebay and my Bank for processing times!

Joey

[speaksportscards]

And then 3-4 business days after that for my bank to process it. 

[speaksportscards]

Who's your bank?

[6u3_11_5_21y]

When I first started with managed payments a couple months ago , I received the money in my bank in like 2 days from sale . A day or two before the " We've sent your payout " ebay message . I was thinking this aint so bad . Next thing you know ...after already getting succesfully paid through managed payments to my inputted and accepted bank . ....I get a " we need to verify your bank (lol) after about 5 times , it finally took ...and guess what ? Now the wait on funds after a sale is about over a week to a week and a half!! I think their is no wait transferring money from ebay to our banks routing system but there is a ebay software command that they adjust to make it take hell of a long time because they want our funds longer for whatever screwd up reason.