mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@pwbuck69 wrote:I don't consider it a disclaimer, but as a courtesy to my customers. But you're probably right anyway. It does however suck that sellers have to pony up for shipping until they get their payment. This can be an expensive prospect when shipping heavy items and/or pricey breakable items.
I never said that about shipping, nor would I as it is not true. If you print your shipping labels through Ebay, on every label form there is an option towards the bottom, just above the button your click on to pay for the label. You can select either to have the shipping costs funded by your MP account or your PP account.
If you choose PP account, it will fund however you have your PP account set up to do it. In PP you can have it come from your PP funds, your bank account or from a credit card.
@craft-stash wrote:This thread already...its painful.
Theres is always a Wiseguy.
I say...Gpod Day!
THE END AGAIN!
Who's the wiseguy? I simply asked you a question because I did not know what your two word post meant. "the end". And I still don't know what you meant.
@505carole wrote:I don't see any benefit in the new payment system. Payments are painfully slow and I want to know why when I make 2 sales a day apart why they only pay out 2/3 of the first payment and put the rest on the 2nd payment! This has happened consistently. Also I seem to be paying more in fees than I was when they used Paypal and yet they state we're paying less in fees. I don't see it and I'm ready to quit Ebay.
The fees in MP have NOT increased overall fees. The following numbers represent those that do not have a store and the fee rate for most common categories [not all].
Fees BEFORE going into MP
10.20% FVF + 2.9% PP fees = 13.10% plus 30 cent per transaction fee.
In MP the fees are:
10.20% FVF + 2.35% money processing fee paid to MP = 12.55% plus a 30 cent per transaction fee.
MP withholds your selling fees from the payments you receive from buyers. You can easily see all this information if you manage your MP account and its details from your Seller Hub, then the Payments Tab.
On August 2nd, PP fees are increasing. So MP will become even more of a fee saver in just a couple of weeks. The per transaction fee in PP is jumping from 30 cents to a whopping 49 cents. There are other increases too.
@silverscout wrote:Every day they make interest on the funds they received from buyer before crediting it back to you a few days later. How much sales turnover daily on Ebay worldwide? Its free money for them.
No they don't.
Consider this. No one can earn interest on money they do NOT have in their account. So since when payments are Pending the money has not yet been received from the funding source, then earning interest on this money during this timeframe is simply NOT possible.
Once the money clears the Pending Status and moves to Available, it is transferred out to the seller on the next Business day for those with Daily deposits or the next Tuesday for those with Weekly deposits. So when that happens the money moves into the ACH Banking system to which MP has NO control over and the money is no longer in MP so there is no way for them to earn interest of funds they do NOT have. Once the money is transferred the banking system has control of the funds, not MP and the banking system determines how fast your money moves to your bank and your account, NOT MP.
@gmj67 wrote:Ebay spends an enormous amount of time and effort trying to convince us all that they "care" about us, the customer. And yet so much of what they do is really nothing more than a self-serving effort that benefits only Ebay. Their new payout scheme is a perfect example. I'd be willing to bet there is not one CUSTOMER who is pleased with having to wait days to receive money. Of course Ebay knows this...but do they care? I think not.
I look forward to the day that Ebay has some true competition. When that day arrives instead of giving their CEO a 54 million dollar "exit package" they'll give him or her what they've really earned...a termination notice and a door slamming behind them.
It is a normal human reaction to hate what they don't understand or have experienced before. For Casual sellers [no store] it is especially hard to make this transition. And it gets more complicated if those sellers have never sold on any other site other than Ebay. Because if they had, they would know that Ebay's MP process is not unusual. All the similar sites to Ebay have had their own money processing programs in place for years. Ebay is the last of the bigger sites to implement theirs.
For those of us that sell on multiple sites, this transition is much easier on us as it is something we are use to.
It isn't a "scheme", it is a program very much like what other sites have done for years.
Ebay started onboarding sellers in large groups last summer. It was their goal to have everyone onboarded by the end of 2021. However it appears they will have this done by the end of September. So that means there will be over 18 million sellers in MP.
Certainly some sellers have left Ebay over this, but new sellers sign up too. And as can be seen on many of the LONG threads that started last summer, many of the sellers that posted in the beginning of it and said they would not sign up for MP and are leaving. Many of them are actually current sellers. They never came back to the thread to say they changed their minds, but you can see on their accounts they are still selling. Whether they left and came back or never left at all, who knows.
But it doesn't take much time to realize once you get out there and do you homework, Ebay just isn't doing something dramatically different from any of the other bigger sites.
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