Why can't ebay just as easily send out payouts to paypal rather the bank?

[jujus5gkids]

The thing I hate most about managed payments is we are forced to have our payouts sent to our bank instead of where we want them.  I do everything through paypal and ebay cannot make me change that so I have to wait three days for a payout to clear my bank then another 3 or 4 days to get the money transferred to my paypal account.  I think ebay is just being stubborn!  Other than that and causing me a lot more time and bookwork to keep account of everything, it would not be such a problem.  I miss the fantastic way paypal sent our payment noticed through ebay.. all nicely combined and I always printed my invoice from the paypal notice.  WE don't have that luxury with ebay MP.  I go through multiple screens for the info I want and it is time consuming an a pain!  Maybe paypal will come up with some sort of account where we would have account numbers/routing numbers and could change our banking info to that and have payouts go straight to paypal again.

[kensgiftshop]

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@jujus5gkids wrote:

Maybe paypal will come up with some sort of account where we would have account numbers/routing numbers and could change our banking info to that and have payouts go straight to paypal again.

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Only if Pay Pal becomes a bank, which I don't see happening..

[dede394]

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@jujus5gkids wrote:

I miss the fantastic way paypal sent our payment noticed through ebay.. all nicely combined and I always printed my invoice from the paypal notice.  WE don't have that luxury with ebay MP.

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You already had it all,  you just didn't know it. PayPal was already making 2.9% on the sales tax, and then without asking, eBay took away the sales tax before you even saw it. And then the remainder, again less PayPal fees, immediately went to you!

So eBay could have also, after PayPal makes 2.9% on the FVF, taken the FVF, again without asking, and before you even see it. And the buyer's payment, less 2.9% + 30 cents, less sales tax, and less  FVF goes to you immediately -- no need for MP!

PayPal didn't really need a contract to force eBay to give it nearly all of their payments. The 3 payment methods at eBay Checkout

1. PayPal,

2. PayPal Credit, and

3. credit/debit cards "processed by PayPal":

And PayPal was already taking payments for Home Depot, Walmart, and literally hundreds of others: Contract, what contract?

[mam98031]

Is there a reason why you don't want the money going into your bank account?

[bimm_corp]

>Why can't ebay just as easily send out payouts to paypal rather the bank?

Because they don't want to. They would rather have access to your bank balance. They would rather hold your funds for up to a week and more so they can make interest on your money. It's all about control.

It's going to get worse. eBay now has a pilot Suggested Pricing program (you can opt out at present). Wait a while and they might make Suggested Pricing mandatory for certain categories. Later on will come complete eBay control of how much you can charge for your items. Then it will be total big brother. You list your items, then eBay pays you what they think you ought to get. If your items don't sell they arbitrarily lower the price till they do. You get what's left over. Wait and see.

[mam98031]

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@bimm_corp wrote:

>Why can't ebay just as easily send out payouts to paypal rather the bank?

Because they don't want to. They would rather have access to your bank balance. They would rather hold your funds for up to a week and more so they can make interest on your money. It's all about control.

It's going to get worse. eBay now has a pilot Suggested Pricing program (you can opt out at present). Wait a while and they might make Suggested Pricing mandatory for certain categories. Later on will come complete eBay control of how much you can charge for your items. Then it will be total big brother. You list your items, then eBay pays you what they think you ought to get. If your items don't sell they arbitrarily lower the price till they do. You get what's left over. Wait and see.

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That is not accurate.  They legally aren't allow to transfer the money to anything other than a bank.  

[gabriels_yardsale]

Thats blatantly false. Ebay can definitely choose to send to a paypal account. They would lose control over the money at that point, so they refuse to do it, but it has nothing to do with the law.

Just because ebay lies about why they do things doesn't mean you need to repeat their lies.

[muskingum_relics]

you are right about this, Ebay simply wants all control over the sellers and that is what it boils down to !!

[mam98031]

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@gabriels_yardsale wrote:

Thats blatantly false. Ebay can definitely choose to send to a paypal account. They would lose control over the money at that point, so they refuse to do it, but it has nothing to do with the law.

Just because ebay lies about why they do things doesn't mean you need to repeat their lies.

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That is inaccurate.  Ever wonder why in PP if you want to transfer money out of your account that it has to go to a bank account.  Or is Ebay somehow different and doesn't have to comply with the same laws.

Federal Anti Money Laundering laws are likely the reason.

[mam98031]

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@muskingum_relics wrote:

you are right about this, Ebay simply wants all control over the sellers and that is what it boils down to !!

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MAJOR misconception and it is completely inaccurate.  Ebay does NOT "control" my checking account they have access to.  They simply can withdraw an amount if necessary to cover a negative balance in my MP account or I can have them do it from my credit card, seller choice.  You are passing around inaccurate and misleading information in order to further your campaign against Ebay, for reasons only known to you.

[muskingum_relics]

ebays control over its sellers is NOT a misconception !!!

[lotzofuniquegoodies]

"Is there a reason why you don't want the money going into your bank account?"

@mam98031 

My 3 biggest problems with eBay wanting to run transactions vis a vis  my bank account are messy accounting(lump sum vs individual transactions), using it as a their own float and bank service charges. There are probably others but those are the ones that keep running through my mind on a regular basis.

-Lotz

[midnightcollectibles]

ebay managed payments sucks for me because I have a paypal debit mastercard so now instead of having $ instantly I've got to wait until ebay payments clear which seem to take 3 days now.  Also seems payments are only being sent out Mon-Fridays & not on the weekends.

[mam98031]

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@lotzofuniquegoodies wrote:

"Is there a reason why you don't want the money going into your bank account?"

@mam98031 

My 3 biggest problems with eBay wanting to run transactions vis a vis  my bank account are messy accounting(lump sum vs individual transactions), using it as a their own float and bank service charges. There are probably others but those are the ones that keep running through my mind on a regular basis.

-Lotz

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I've always recommended to open a separate checking account to run your Ebay payments into.  You can transfer from there into your personal accounts easily online at your banks website and have it in the other account within moments.

I'm not sure what you mean by "using it as a their own float", MP isn't doing that.  MP takes 1-2 days to clear a pending payment and move it to Available funds.  Then it transfers to your bank account on the next available day that you have set [daily deposits or weekly].  Even PP had to clear payments, they just didn't hold up having it available to us during that process.  But the clearing time still existed.  This is one reason most of us really liked PP, I sure know I did.

As to bank fees.  There are checking accounts that don't have fees.  For example, I bank with Bank of America.  I opened a new checking that has a 4.99 a month fee.  But that fee is waived if I have at least one $250+ electronic deposit come into the account in a month.  So I don't pay any fees.  Something to consider when you are shopping for your bank account is whether you will go to daily deposits or weekly [Tuesdays] in MP.  Some bank accounts will charge a fee when you have over a certain number of deposits in a month come into it.  I personally like weekly as it is easier on accounting and it is more likely I'll hit that $250 threashold.

Let me know if you have any other questions.

@lotzofuniquegoodies 

[lotzofuniquegoodies]

@mam98031 

For comparison sake with PayPal transactions are individually logged(They are line items with a breakdown). With MP released funds move in batches with no details from my understanding. I'm in Canada. My current bank is with limited transactions. Anything over 10 transactions are 1.25 each. I use PayPal for any/all eBay purchases, Postage, and eBay fees. I will open a separate account when required. I shouldn't need to do this. Also if there was a miscellaneous charge back down the road you would be at the risk of going into overdraft. That can be an additional fee attached to your account as a monthly charge(9.00 as I recall).  I personally can't remember the last time I ever went into overdraft.  I removed overdraft on my account for that reason. PayPal was convenient in many ways. I can't see MP being convenient in any ways. It's totally baffling for the Canadian sellers that still list on dot com they still haven't figured out a way to move funds to a US bank account so sellers wouldn't be losing on the exchange rate.

-Lotz

PS. Hope I've explained clearly from my perspective.