mam98031 • Volunteer Community Member • Buyer/Seller since 1999
There is nothing every published by Ebay regarding MP that said our payments would be processed within 24 hours. You have most certainly misunderstood something.
You are a seasoned seller. Before you registered for MP, did you research it so you knew how it was going to affect you and your cash flow. Seeing as MP is the biggest more dramatic change for all sellers to deal with, it is extremely important to do your homework so that you can best adapt. It is very dangerous to not do so.
When a buyer submits a payment the seller is considered PAID at that point. There funding source has been pinged and they payment will clear. The next step is for MP to clear the pending payment which takes 1-2 days. But understand there is NO RISK that this payment will not be paid to you. Once a buyer submits a payment, they cannot change it, cancel it or otherwise mess with it in any way. The same held true when we used PayPal. But it takes MP 1-2 days to get the literal money moved from the funding source to your MP account.
Once it is no longer Pending it moves to Available. That means that on the next BUSINESS day if you are on Daily deposits, your transfer will be sent to your bank. If you are on Weekly Deposits, then it will transfer on the next available Tuesday. Once MP makes the transfer into the ACH banking system, they no longer have control over that money; it is in the hands of the banking system. Normally it takes 1-4 days for it to arrive at your bank.
For me, I do Weekly deposits. It is sent every Tuesday morning and before noon on Wednesday my money is at my bank. I do bank with a major bank, for those using smaller more local banks, it can take longer.
Many sellers in MP ship right away as there is NO RISK to the money actually getting to your bank account unless you are having problems with your account that MP has likely notified you about.
Other sellers for whatever reason they have wait until the money is in there bank. While this is not necessary to do as it does not increase the security of you receiving your money, this is what some sellers decide to do. If you lean this way, I suggest that after you are more comfortable with how MP works, with experience, that you reconsider this decision.
Keep in mind the Selling Rules of Ebay do NOT change when you enter MP. What is required of sellers, the policies and rules remain the same. One of those rules is we must ship within our stated handling time. There will be no grace period or anything else just because you are in MP and you choose to wait until the money is in your bank before you ship.
To do that without changing your listings will result in Late Shipment Defects and certainly damage the health of your selling account. So if you are leaning towards shipping after the money is in your bank, then make sure you change your handling time on your listings BEFORE you start this practice. If you don't, then you will likely be in the penalty box before long and that pesky additional FVF of 5%.
So either way is fine, just make sure you look out for yourself, make the decision that is best for you and proceed forward. You will be fine.
MP isn't that difficult to adapt to for most sellers. It is difficult to adapt to for some Casual Sellers. These are usually sellers that don't have enough listings to warrant having a store of any level. This transition is very hard for most of these sellers. I really respect that.
The thing to consider is, do you make a profit or enough profit on what you sell here to remain selling on Ebay. Likely that answer is yes. And if your answer is yes, it is in your best interest and the best interest of your wallet to do your best to adapt.
It is like working with a budget. And believe me I HATE budgets, but they are a good tool. While you won't have access to your money instantly like you did in PP, you will usually have access to the money by this time next week. Learn to get over the hump. I understand and respect that this hump can be much harder for some than others. But once you have passed over this, things will smooth out and be easier to deal with.
In some threads you will find that sellers that really thought they could not live with this change has found out that they actually don't spend their money as fast and some find that they don't spend as much as they did when the money was instant.
I wish you nothing but the very best.
The following links are very informative and easy to read. Lots of great information in these articles that contain information you should be aware of. After you read them you will likely have questions. Come on back and ask whatever you need to.
https://community.ebay.com/t5/Payments-Resources/How-does-the-updated-eBay-payments-experience-work-...
https://community.ebay.com/t5/Payments-Resources/Have-questions-about-payments-Check-out-this-post-f...
https://community.ebay.com/t5/Payments-Resources/Infographic-How-payouts-work-when-eBay-manages-paym...
https://community.ebay.com/t5/Payment-Resources/Changes-to-the-eBay-invoicing-process/ba-p/32004201
https://community.ebay.com/t5/Payment-Resources/Know-your-options-to-pay-eBay-fees-and-selling-costs...
@bubble_of_doom wrote:You don't think they put weekly payouts On Tuesday for no reason. There are 5 Holidays in a year that fall on a Thursday thru Monday. That means your weekly payouts will be Held another week because they don't process holidays. I figured it up one time based on interest rates and the fact they hold your money 5 weeks extra in a year. Its 10s of Millions of dollars there making just by not paying you. Clearing houses are designed for this purpose. One day government will realize this is a Anti-trust violation and break ebay away from Managing payments again.
I don't remember anyone expressing a concern as to why Weekly Payouts are on Tuesdays. But since there aren't any Federal holidays that fall on Tuesday, then they payouts are NOT held up. I've done weekly payouts since I've been in MP. I have a payout EVERY week.
Since Memorial Day of this year, not as many buyer payments clear throughout the weekend as they do on non holiday weekends, that is true, but for the most part the Tuesday payouts work fine.
Since Ebay never actually handles the money, they have NO opportunity to earn interest on the money, because they don't have it. That is why they hired Adyen. They are the ones that actually process the funds. But as Ebay has said in many announcements and it is stated on the Seller Fee Policy pages, Ebay does NOT earn interest on held funds in MP.
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.
@nickp178 wrote:The biggest problem that I have is that when a payout clears MP and supposedly is sent ACH, in reality it is still in eBay's possession somehow. I do a fair amount of payments by ACH with other business dealings and have never seen a payment in "limbo" like this..... Sender confirms payment, it is visible to my bank after midnight.
A Tuesday ACH payout should at least show pending in my bank account at midnight and it takes days to show up....
They have some explaining to do.
I don't think I will ever sell on eBay again.
It might be that you misunderstand the process. It does not jump from Pending to a ACH transfer / Payout.
Also once the Payout is released to the ACH, Ebay doesn't have any control on it anymore, it is now in the control of the banking system
But back to the beginning. When a buyer first pays for a purchase, their funds are PENDING/Processing. In 1-2 days it will clear and move to Available Funds. From Available Funds it will move to Payout. And you set how often you get Payouts. Your options are Daily, Weekly, BiWeekly or Monthly right now.
When a Payout shows up at your bank, will depend on your bank. If you have access to your bank account online, most sites will allow you to set up email notifications of deposits arriving and many other things. So you don't have to keep checking your bank to find out when it arrives.
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