mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@north40sales wrote:I said "If you want to shill for eBay...that's cool"
BTW....any link to that lawsuit that you say PayPal was sued for earning interest? Would be genuinely interested in seeing that as it is a standard business practice to use interest bearing accounts.
Name calling is completely unnecessary in any form. You've made assumptions by your own admission and then get upset when others don't agree with you. We aren't in the schoolyard, we are all adults here.
I was doing a bit more research on your assertions and link you provided earlier. Before this post I wasn't quite ready to respond. It does seem that I remembered this particular lawsuit differently that it actually was for. It only pertains to held funds and while when I talked about it I always used the words Held funds, I think I wasn't quite stating it correctly.
Many posters have posted about MP holding funds on them for whatever reason there may be. That would be held funds if in fact MP is holding them.
In thinking upon this a bit more, since Ebay doesn't literally have the money, they would have no ability to earn interest on the funds held or not, as they don't have it. Adyen has the actual money, now maybe Adyen earns interest, IDK.
@north40sales wrote:As I've said NUMEROUS times already.....I DON'T CARE either way whether eBay earns interest on undistributed payouts to sellers.
If you don't care, why are you arguing the point? Your posts seem to imply that you do care about this issue. You've argued that they do collect interest on undistributed seller payouts in several posts.
@north40sales wrote:However, you certainly take a different approach than mam98031 in that you are saying eBay disburses funds to the seller while mam98031 says that Adyen handles that and eBay has no contact with the actual buyer's funds.
I do not speak for any poster other than myself, and I've not addressed the "approach" you've described, and I've not read the post(s) on that topic.
@north40sales wrote:I have no need to review their tax and income statements like you did.
I'm not referring to their "tax and income statements." I'm referring to their 10-K filings.
@north40sales wrote:(Did you ever find a line showing interest income or investment income?)
I've addressed this in a previous post. You have misquoted my statement.
@north40sales wrote:I've never said eBay was lying about anything and I have no need to send them a letter.
Your statement:
"eBay can chose to just let it sit in their account and do nothing or use that money for overnight CD's that almost every large business does to earn fractional interest."
Another poster's reply:
"Ebay has repeatedly said they don't earn interest on held funds."
Your reply:
"I am sure that eBay would like people to think that they don't earn interest on the float...but I would think its almost a certainty that they do...and why wouldn't they. I have never said that I disagree with them earning interest on float funds.....every large business does it and its probably part of their business model."
"If eBay does not earn interest on the funds while its in their custody, they are fiscally irresponsible for ignoring an obvious revenue stream."
Here's eBay's statement concerning the earning of interest on undistributed seller payouts:
From Have questions about payments? Check out this post for helpful information.
From a discussion board thread, posted by an eBay employee when asked whether eBay earns money on undistributed seller payouts:
Now, in conclusion, I will not be reading or replying to any more posts on this thread. The credibility and veracity just aren't to a level that would encourage me to continue a protracted discussion with another member.
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