Managed Payments results in 7-day delays in sellers receiving payment, lousy!

[lfino-neting]

I'm a week into my experience with ebay's new Managed Payments, and I've spent an hour on customer service call and am just really disgusted. I have still not received payments that were paid to eBay by my customers on Oct. 1, and the message I got yesterday from eBay said that first day's payments will be deposited to my account in 3-4 business days (as of notice yesterday).  PayPal paid out instantly, and I've used that for 22 years on eBay without any noticeable issues. 

Why in the world I now have to wait more than a week to receive pay-outs is baffling and distressing. Sure, Ebay will make another 2.7% on every sale, but they've really given us sellers the shaft here. I have a long delay on $8,000+, and that's robbing me of my ability to work turnaround stock. And yet we've had to send out all of the goods to stay on schedule. It adds yet one more layer of stress and uncertainty as a seller. In a time when we're least willing to add yet another layer. 

The initial information was that there would be no difference from seamless flow we've relied upon PayPal to provide. That is absolutely not the case. No other options, their way or the highway. It amounts to robbing me of a 10-day period of use, or 1/3 of my monthly gross. As if my employees wouldn't mind if I tell them I can't pay them now for a 9-10 day delay after the 1st and 15th.  

Customer service tried to convince me it's "progress". I can't believe that's their only line. There's zero benefit to all the sellers on eBay. And the negative is you wait and wait for your payout, long after you've sent the goods. We just sent 2 items out totaling $5400. No payment from eBay. Stressful!  

I'm VERY unhappy. Worst of all the bad "progress" changes so far, in 22 years.  Needs to be changed. Demand it! 

[corvettestainless]

This is just like a dam that broke. The drowning people want it fixed before it broke. Too late. Ship has sailed. 

This is what it is.

Actually very typical every CC Processor in the world, except PP operates this way. But PP would not up another contract, so nothing can be done. 

Know that I am in MP, daily- and sales on Tuesday put the $$ in my bank on Friday morning. I bank with a small Cali only credit union, so size of bank does not matter. 

[lfino-neting]

I accept credit cards, too, and those payments post directly to my account immediately. And my website still uses PayPal (immediate)  and Shopify Payments (3-4 day delay). 

Oct. 1 sale still not posted. An email notice on Oct. 5 said it would be in my bank in 3-4 days. That's 9-day window before I have access to funds, and long after I've been required to send out expensive goods. To replace a working long-histories and excellent system (PayPal) with an antiquated and problematic service like Managed Payments. Unacceptable!  I had option to set it on 1-day payout or weekly payout. I opted for 1-day, have been shocked to see that '1 day' for Managed Payment is more like 9 days.  That's an exceptionally long 'float'.

[muskingum_relics]

ebay has become very misleading ! A few of the same ones post on here about how good it is but I think the majority know that MP is a disaster ! I opted to stop selling and refuse to sign up ! It is ebays way os taking the sellers business and making it theirs. Total control on everything ! I am with you !! Ebay changes are getting worse and worse. I wish you luck !!

[tenorsax47]

I've had no issues with MP. You are given the option to have payments processed daoily or weekly. Are you sure you opted for daily?

[vintagecraze50]

Regardless of what the posters say about how bad this is-do not believe it. Crucial to get these payments into your bank quickly like within a few days is the processing time of your BANK ACCOUNT. YOU HAVE TO RESEARCH WHICH BANKS LAG BEHIND IN THIS PROCESS AND AVOID THEM. Find a bank like ours that processes stuff quickly. We have NEVER NEVER waited that long for a payment to process.

[vintagecraze50]

Oh yes, I am one of those “happy posters” about MP. AND I could not be happier with the way this is working for us. Get the darn program before you post negative stuff all over the place here and see what I am talking about. You are an unreliable source for this information because you do not use MP.

[siamjane8]

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@corvettestainless wrote:

This is just like a dam that broke. The drowning people want it fixed before it broke. Too late. Ship has sailed. 

This is what it is.

Actually very typical every CC Processor in the world, except PP operates this way. But PP would not up another contract, so nothing can be done. 

Know that I am in MP, daily- and sales on Tuesday put the $$ in my bank on Friday morning. I bank with a small Cali only credit union, so size of bank does not matter. 

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Actually- had nothing to do with Paypal- they would have been more than happy to sign another contract with Ebay, just not the decades old version that they already had. Payapal was willing to renegotiate - ebay was not. Ebay wanted to keep the exclusivity contract to prevent Paypal from joining with other sites. Why would Payapal accept such terms in this world. Ebay is a dinosaur.  Ebay could have chose to negotiate in good faith with the best and most solid and reliable money processor in the world for the benefit of its users but opted instead to try and start from scratch with a far below industry standard product to rake in more $ for shareholders instead of reinvesting in the growth of the platform... Simple business decision... just the wrong one.... at least they just posted a message - "sorry for the inconvenience" & thanks for using ebay- since the payments tab and hub have not been working for 4 days now. lol.    Somehow though the billing side of Ebay is as solid as the software they use to send men to the moon with - that never goes down...huh

[muskingum_relics]

The fact is do not believe the posters saying how great it is !! It is a lousy set up designed only to help ebay and not the sellers !!!

[muskingum_relics]

Glad you are happy ! What about the many posters in MP saying what a mess it is ??? I take their word over ebay or employees of ebay !! And there is a bunch of unhappy campers because of this stupid ebay creation !!

[ladysethos]

I hate to pile more bad news onto what you've already experienced, but you should be aware that in certain categories, or in certain circumstances, eBay holds the funds up to 21 days before beginning the process of remitting them to you.  High-end watches are an example for the category, but the "circumstances" part is ambiguously worded to include anything from suspected fraud to other indicators eBay may see and refuse to share.

Depending on your buyers' preferred payment methods, you may also notice that some transactions take longer to process than others.  That's because different methods of payment take different times to resolve.  eBay offers NO transparency in regard to these processing times or which methods of payment take longer, although a web search will show you all kinds of seller speculation.

Like a lot of others, I'm happy for those who've had a good experience with managed payments, but mine has been the same as yours: unreliable and at times laughably inaccurate.  Different representatives, including different members of an escalation team, provide conflicting, at times obviously false information.  And now, for the last week or so I've had longtime customers complaining that they can't complete payment at certain times of day, and they often have to leave items in their cart overnight to attempt payment again in the morning, at a time when they've missed my daily shipping cutoff.  A couple have been double-billed, or I've had the same single item sell twice due to this latency issue.

You can look back in the forums for a long time and see similar issues.  It's increasingly obvious that leadership chose to paper over these issues rather than resolve them.  Now, as increasing sales volumes put more pressure on this flawed system, breakdowns become more common.  I can't help thinking that the holidays are going to be an absolute dumpster fire.

[wrong66]

Do you pay your employees "daily"? I doubt it very much.

[mam98031]

"The initial information was that there would be no difference from seamless flow we've relied upon PayPal to provide."  

That is certainly what sellers want, but that is not what MP has said nor is it how it works.

The MP process is really quite simple.  The process on BUSINESS DAYS ONLY.  It takes 1-2 days to clear a pending payment and move it to Available Funds.  Then on the next business day it should transfer to your bank account which can take 1-4 days to arrive if you do Daily Deposits.  If you do weekly deposits, then the transfer is sent out every Tuesday and takes 1-4 days to arrive at your bank.

It does take a little getting use to.  And it is nothing like the PP process, so don't stress yourself unnecessarily by comparing the two programs as there is not comparison.  Take a breath, learn how MP works and then find the best way for you to work with the program.

No one is "robbing" you.  Once your money starts flowing, you will learn the rhythm so it is easier for you to deal with.  I personally do weekly deposits.  Not so many highs and lows and for me it is less stressful and smoother.  I bank with a large bank, so when MP transfers, I have the money in my account the next day before noon.  Smaller more local banks will take longer.

There is a whole lot of room for improvement in the MP system.  And we must make sure that MP understands our needs and what we'd like to see change.  But you also need to learn the current way MP functions so you can best learn how to run your business within its rules.  That will likely lower your stress level.  Don't fight it, learn it.  Keep voicing things you'd like to see improve, but learn how it currently works first so your business can prosper.

[etxj_36]

I use capital one bank. Signed up for daily deposits. 

What I see is money hits bank Tuesday Wednesday Thursday that's it

 Never Friday Saturday Sunday Monday. Never.

So for me MP daily deposits is a Joke!

Leaving this disaster of a liberal site in Feb when store sub is up.

And Just ask around town Facebook Twitter about eBay. Too many humans say this...... I shop Amazon. eBay is a pain in the ......

[muskingum_relics]

I think alot of sellers are getting fed up with ebay despite what a few of the bots say !!