New payment processing system

[sdmissy]

For those of you who say MP hasn't affected you, you're wrong! Let me explain. Your payments are getting to you two to three days after the sale. That money is yours, belongs to you, and you should get it immediately after the sale as is the process with PayPal. This new payment system is allowing eBay to keep your money, from your sale, which belongs to you, in their accounts and allowing them to make interest monies off of your money that should be in your account. No processing fee? Lololol..... Uh huh. I work for the Postal Service. I used to have many many customers who were sellers on eBay and would ship daily. Big sellers. Power sellers. Sellers with stores. The majority of those many customers stopped selling on eBay because eBay has gotten more greedy, too controlling, more restrictive on the sellers, always taking the side of the buyer in disputes, shoving new policies which totally benefit eBay or the buyer, down the throats of the sellers. EBay doesn't give a **bleep** about the sellers. I have been sold since 1999. I used to sell a lot. I now have one or two listings every few months.

[mam98031]

Much of what you say is a bit misleading at best.  Sellers going into MP certainly should read the policies so they know how things are handled.

When a buyer issues a payment, at that time MP or PP pings the funding source for the payment to make sure that the payment will be approved.  The buyer, once they make their payment has no ability to cancel, adjust or otherwise change or stop the payment in MP or PP.  Buyers have never had that ability. 

So once the payment is made MP takes 1-2 days to actually get the money moved from the funding source to your MP account.  Then it moves to Available for transfer.  It will transfer on the next Business day if you are on Daily deposits or on Tuesdays if you are on Weekly deposits. 

 Once the transfer is released into the ACH banking system, the banks are in control of the transfer, not MP.  This process may take 1-4 days for the money to arrive at your bank.  Smaller more local banks may take longer than a larger more main stream bank.

Comparing MP to PP will only get you more upset.  PP is a full wallet and MP is a basic money processing system.  There is hardly a comparison between them.  But with that said, the MP system isn't an unusual one either as it is very similar to the money processing systems on Amazon, Etsy, Mercari, Poshmark, Offerup and more.  PP is the unicorn here, not MP.    But I'm with you, I will miss PP too.

I find it funny every time a poster claims eBay is "greedy" because they want to make a profit.  Ebay after all is a For Profit Company, just like many others.  And sellers come here to make a profit too.  So by your definition we are ALL GREEDY.  You, Me, Ebay and everyone else that sells here as we are all here to make a profit.  So silly really!

[crabapplekid]

You mentioned that eBay doesn't give a bleep about the sellers and always taking the side of the buyer's and I'm not disputing that but have you considered that both buyers and sellers on eBay are both customers on eBay and ebay will always need customers to operate.  That's my own perspective, whether it's fair or not is up for debate.  Basically it's not "the same" for buyers or sellers from what I understand.  Paypal would surely be missed by many users for a very long time with this current system I suspect. 

[nycfinn]

sdmissy is ABSOLUTELY RIGHT.

They get interest for each day they can hold your payments,

citing "processing," to justify it.

LMAO!

If it was either moral (LOL again) or (most probably) LEGAL,

THEY WOULDN'T NEED THOSE "RULES" OR "JUSTIFICATIONS" !

[klhmdg]

@nycfinn  - not sure who you think gets interest BUT its not eBay because eBay never has anyone's money.

Its not helpful to spread misinformation or try to stir the pot.... 

[mam98031]

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@nycfinn wrote:

sdmissy is ABSOLUTELY RIGHT.

They get interest for each day they can hold your payments,

citing "processing," to justify it.

LMAO!

If it was either moral (LOL again) or (most probably) LEGAL,

THEY WOULDN'T NEED THOSE "RULES" OR "JUSTIFICATIONS" !

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@nycfinn 

 Ebay does not earn interest on held funds.  They have repeatedly said that.  Not sure why you are finding this subject so funny.