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! 

[stricklandq]

I agree the managed payment system is terrible.  I've made several sales and I cannot find out were the payments are and how much is in the account.  Ebay is very clear how much I owe them.  With Paypal I knew immediately.  To make matters worse I cannot contact anyone at Ebay to help me.  Their phone numbers are not working and with the Chat Help they wanted to charge me a fee.

[freefallr4545]

Brainless. I didn't reply to the proper writer. But I just started managed payment. I can't understand how volume sellers are going to be able to even check if Ebay is giving them their money. Paypal was easy. Anyways I'm done for now. I've loved reading these posts though. Except from the ones that were getting paid from Ebay.

"I love the managed Payment. Works great for me"  Yeah right. People are not stupid

[releasethekraken_1]

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@freefallr4545 wrote:

Do you pay walgreens in 3 or 4 days when you buy something? I doubt it

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Does Walgreens get the money the instant you pay? No.

[loveyourimagination49]

@stricklandq 

Go to Seller Hub - Payment tab

[kim5604]

Just to add to this disaster. I'm an occasional seller. I'm a collector and post stuff several times a year. Have been with ebay for at least 20 years. I received an email with the notification to switch to MP a couple of months ago and did. No bonus, wasn't aware there was any. I just sold some items. No indication of payment rendered nada. Used to seeing instantaneous funds in my PayPal acct. And would ship. This seems like such an anachronistic step back that I can't even fathom it passed any sort of scrutiny. It's 2021 and we have to wait some indeterminate period to recieve funds for paid items? This is aside from the absolute mess that the once fantastic Ebay android app is. Eg. Wading through ads and nonsense just to try and find contact seller/other items for sale etc. Very poor thinking here eBay. 

[mutha71]

The items that I sell now on eBay are delivered before I receive the payment.  Managed Payments is horribly slow.  You're correct that it takes 5-7 days before funds are received in my bank account.  The one thing that I do like is that they deduct the seller fees at the point of sale.  Overall though, I think the delay in getting funds for completed transactions is unacceptable. 

[savhotspot]

Let's get straight to the point. With PayPal you got paid immediately, Now you have No Idea how long before you get your money. It Has NOT been less than 5 days so far.

[ppetersondallas]

eBay is doing this so they can make 7 days of interest on YOUR money.  It’s a classic banking / FI scheme and borders on consumer fraud. 

[mlmail2]

Wow, how long have you been an Astroturfer?  How much do they pay you to post that everything is much better now?

[kensgiftshop]

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@ppetersondallas wrote:

eBay is doing this so they can make 7 days of interest on YOUR money.  It’s a classic banking / FI scheme and borders on consumer fraud. 

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How are the making interest on money they don't have yet?

[tangoms]

Agree with every word. I am closing my accont. Who needs this sort of service? 

[bondra]

Hi,

I'm worried about this new system. I do daily deposits. Last night, I had over $5,000 in payment received. Today, I look at deposits, and ebay only sent $1,372.00 to my bank account with $4,723 processing. 

[ulfesharpe]

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@stricklandq wrote:

 with the Chat Help they wanted to charge me a fee.

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ohhh.. Must be true coz no one would ever be able to come up with that one 😐

[treezenkovsky]

I have a lot of things to sell, but I will also gradually move away from Ebay, I need an alternative to a store with PayPal service.

[mjshow123]

I'm looking to begin posting in the description a footnote that item will not ship until payment is processing! Customer received item bought 5 days ago and I still haven't seen any payout activity.