Best regards,
mam98031 • Volunteer Community Member • Buyer/Seller since 1999
Weekly Payouts are made every Tuesday in managed Payments, and they will NOT allow Sellers to pick which day of the week they want their Weekly Payouts ... I know because I asked.
Most of my sales are on weekends, eBay knows that of course because they have the sales history ... I would surmise they wrote algorithms early on to determine the best Weekly Payout day for them that would pay Seller something but retain $$ for them for another week. They didn't just say. "oh, lets make Tuesday the Weekly Payout day!"
Since Aug 7 there have only been 3 weeks where 100% was paid from the previous week ... and one of those was that double payment Tuesday after they had that Daily Payout glitch on the preceding Monday ... October around a holiday if memory serves. They have withheld between 5% - 60$ of monies owed.
This week they withheld 22% and sometime in the AM before 8 they sent their message that a Payout was sent (NOT the money- just the message). At 9 AM I checked the Payments tab and another 6% shifted from Pending to Available ... then at 1 PM I checked again and the remaining 16% shifted ... so BEFORE the end of the business day and on their designated Payout Day 100% was Available but they won't send any more then what they ended with late Monday night.
So here's where it gets interesting. before entering MP I signed up with a new bank and spoke to them at length about timing of them processing 3rd party electronic payments from when it first appears on their servers ... they were very open about their process. Payments made early in the day (like before opening) get processed and posted the same day, they might show "pending" but they get posted ... payments that come in to their servers later in the day post the next day. Well, just after 6 PM I checked my online banking and NO MONEY! NO PENDING PAYMENT! NOTHING!
So to me Tuesday, the Weekly Payout day, is ALL day, not the night before for final calculations ... to me all the $$ that switched from Pending to Available on Tuesday should be paid out by days end Tuesday ...
@dhbookds wrote:If I'm understanding correctly........you want them to send as many payments as necessary to clear out the money that BECOMES available on Tues?
Yes but they only have to send ONE at the end of day Tuesday. Tuesday IS the Payout day so to me ANY money that becomes Available during the day Tuesday would be paid out at the end of that day ... when I asked to change days I wanted either Wed or Thurs which would basically do the same thing.
@luckythewinner wrote:
@mr_lincoln wrote:So to me Tuesday, the Weekly Payout day, is ALL day, not the night before for final calculations ... to me all the $$ that switched from Pending to Available on Tuesday should be paid out by days end Tuesday
Just pretend that the weekly payout day is Monday 🙂
OH I THOUGHT OF THAT ... but I think their algorithms showed them they would be withholding too much money each week from weekend sales ...
@kensgiftshop wrote:
@mr_lincoln wrote:So to me Tuesday, the Weekly Payout day, is ALL day, not the night before for final calculations ... to me all the $$ that switched from Pending to Available on Tuesday should be paid out by days end Tuesday
Since they release your funds once a day, it all depends on what funds are available at the time they release them.
If they release your funds at 6am, anything that clears after 6am, has to wait until the next payout.
Yes but they are making that decision the night before ... I shutdown after mid-night Monday and the amount in Available did NOT change between then and when they sent the message ... so they are making their $$ decision Monday night NOT Tuesday, THEIR designated Payout Day for Weekly Payments.
This has pretty much been their pattern ... I'd post the screen shots but don't care to show the dollar amounts ...
@rebell45 wrote:I have no idea why they would do that. Cause according to them, they aren't making any interest on all that money they are holding. 🤑
LOL! YES they are! But here's the thing, PayPal did too and I don't begrudge that for either company. I've already agreed to wait for payments for once a week ... if they can earn money on that while they hold it fine ... PayPal had to because they were in the business of handling money and living off 2.9% on domestic sales. eBay is living off a hole lot more.
I think it was like 2 years ago eBay posted one of those splash pages about ending Auctions on Sundays ... why? Because more people were likely to be home shopping ... why? Because their data told them 65% of all sales or at least all Weekend sales were on Sundays ... so like I said they KNOW when most sales are made, they have lots of historical data on it. So even in a case like mine, through the week its not as much $$ that they are holding until the weekend hits ... and two weekends in a row with Friday holidays WERE big selling opportunities ... at least that was my experience.
Granted a lot of this is just my rant but there is a principal involved here too ...
@mcdougle4248 wrote:Could it be as simple as the batch preparation for sending to the ACH Tuesday morning has a cut off on Monday evening at a set time?
@mcdougle4248 Without a doubt ... but TUESDAY is the Payout day so they can do their cut off when they open at 11 AM on the west coast which would be 2 PM my time and lots more money would be AVAILABLE ...
I do weekly payouts. Mine are released on Tuesday mornings. And the money is in my bank before noon on Wednesday. I do bank with a major bank.
For me, this works great. My Thursday through Saturday payments are almost always included. Occasionally even Sunday. But for me, the weekly payout works well.
If they gave us the option to pick the day of the week I'm might choose Wednesday, but I'm not unhappy with Tuesday.
@mr_lincoln wrote:
@rebell45 wrote:I have no idea why they would do that. Cause according to them, they aren't making any interest on all that money they are holding. 🤑
LOL! YES they are! But here's the thing, PayPal did too and I don't begrudge that for either company. I've already agreed to wait for payments for once a week ... if they can earn money on that while they hold it fine ... PayPal had to because they were in the business of handling money and living off 2.9% on domestic sales. eBay is living off a hole lot more.
I think it was like 2 years ago eBay posted one of those splash pages about ending Auctions on Sundays ... why? Because more people were likely to be home shopping ... why? Because their data told them 65% of all sales or at least all Weekend sales were on Sundays ... so like I said they KNOW when most sales are made, they have lots of historical data on it. So even in a case like mine, through the week its not as much $$ that they are holding until the weekend hits ... and two weekends in a row with Friday holidays WERE big selling opportunities ... at least that was my experience.
Granted a lot of this is just my rant but there is a principal involved here too ...
PP got sued for earning interest on HELD funds years ago. PP no longer does this as they lost that court case.
Now I honestly don't know if there is a difference on cleared funds waiting for transfer. IDK if those are considered held funds until they actually transfer or if what PP got in trouble for was actual funds on hold due to claims or account problems.
![Video [Russian Language]: Answers to common Payoneer registration issues](/t5/image/serverpage/image-id/750612i41F587DBC26EF24C/image-size/large?v=v2&px=999)
