ebay is useing seller funds as short term no interest loans[managed payments]

[boogers47]

i am astounded at the new managed payments all sellers are forced into. paypal funds were instantly available to spend or pay cost of goods. now they are holding your money 4 days claiming its processing time to get to your bank. are they in the 80's mailing checks? or does this float time smell like check kiting? Also they have not publicized or even mentioned the most important thing they are doing is tie a social sec. number to all accounts. and for sure you will get a 1099. adjusting prices is needed for many sellers to cover the christmas surprise they will be getting from ebay. transparency would be to advise sellers now. but they hide behind no-reply emails and phone numbers that do only AI responses if intllegence artificial wants to deal with it.

i have had funds not disbursed to me over two weeks. the response is that there was a hiccup with the transfer. check back in 4 days, as processing time to resubmit will be needed.

[redlmc]

I signed up this week; got a new checking account JUST for eBay deposits.  Well after several attempts to link that account to MP, still no success.  All info is the same on eBay info and the checking account.  

I dread it, but had no choice if I wanted to continue listing items.  I hope to soon run out of things to list.  

There are several sellers stating they have had no issues with MP,  but there seems to be more that are having issues than those stating everything is fine.

Not sure where complaints can go regarding not getting your funds.  eBay does not have the customer service capacity to address many issues as it was, much less with the Mangled Payment system.  

[buyselljack2016]

PP "fronted" the funds while the payment was sometimes still processing.

eBay processes the buyer payments for me in 1-2 days 99 +% of the time.

My "payouts" are in my CU the day after issued.

1099 ?  So are you saying that if you did not get a 1099 in the past that you had no reportable income?

[buyselljack2016]

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@redlmc wrote:

I signed up this week; got a new checking account JUST for eBay deposits.  Well after several attempts to link that account to MP, still no success.  All info is the same on eBay info and the checking account.  

I dread it, but had no choice if I wanted to continue listing items.  I hope to soon run out of things to list.  

There are several sellers stating they have had no issues with MP,  but there seems to be more that are having issues than those stating everything is fine.

Not sure where complaints can go regarding not getting your funds.  eBay does not have the customer service capacity to address many issues as it was, much less with the Mangled Payment system.  

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Nature of the beast. Those that are not experiencing problems are not coming here/being directed here.

Very small %age of either side of the fence ends up here.  Millions of sellers have never been here to the community boards, or even know that they exist.

[mr_lincoln]

@boogers47   "Check kiting"?  I am sure it goes by different names but at the end of the day here's where eBay wins with Managed Payments ...

-They improve their own FVF cash flow by as much as 45 days because they no longer have to wait out a 30 day billing cycle and then another 15 days for the Seller to pay.  They take their FVFs at the time of purchase and you can bet they are not waiting 4 days (or longer in some cases).  I think I may be the only person who has pointed this out.

-To your point, now Sellers have to wait for their money and any delay can be blamed on either the Buyer's funding source or the Seller's bank ... when they send the "We sent you a Payout" message it states it may take 3-4 days to reach your bank.

4. Next week I will be prepping my 3Q20 quarterly state sales tax ID statement ... I will be using their CSV formatted data base(s) ... I think, unless they have changed it, I will have to create one report for each month and then merge them to get my totals ... and hopefully they will have the gross totals and not just the Payout totals ... I am pretty sure they have the Gross total but I will know for sure then ...

[chapeau-noir]

They improve their own FVF cash flow by as much as 45 days because they no longer have to wait out a 30 day billing cycle and then another 15 days for the Seller to pay. They take their FVFs at the time of purchase and you can bet they are not waiting 4 days (or longer in some cases). I think I may be the only person who has pointed this out.

? I assumed that FVFs were subtracted when the payment was made - there would be no other way to keep a ledger because they would never be in our payouts to begin with - no reason for them to be there, but they ARE in the breakdown.  It doesn't mean that somehow they clear early or that somehow Adyen is awarding them to eBay early -that would be odd because the entire payment has to clear first, and that still depends upon clearing of the origin payment, before eBay gets their FVFs.

I agree that eBay IS capturing all of those outstanding fees that people like myself would pay once a month - like Paypal, we got free loans on that.  So, we get the same with credit cards if we pay our balance off each time, but eBay isn't a credit card.

What I find annoying is the confusing reporting with bits missing (like sales tax collection).

[outdatedrecreated]

While I share your disgust with the managed payments circus, to be fair, you get a 1099 with PayPal as well once a certain threshold is crossed in sales. 

[nocoolnamejane]

Where do you think all the funds making up all of PayPal’s members balance were? It’s not like they have millions of little bank accounts where money was sitting for each individual member until they chose to transfer their balance or use the money to buy something; once the money was processed in and until it was requested out, it was in PayPal’s account.

Same thing, except MP doesn’t float you until a buyers payment is processed.

[mam98031]

Best to check for facts before you start just throwing stuff out there to see what might stick.

PP couldn't clear payments any quicker than MP can.  PP just handled it differently and fronted the money to sellers.  

MP isn't "claiming" it is processing time, it is processing time.  What "float" time?  

What exactly are you trying to say about 1099Ks???  Are you saying that MP is silent on if they issue them or not??  If so, that simply isn't true.  Because you haven't found or read the policy doesn't mean it doesn't exist, it only means you haven't read it.  What "Christmas Surprise" are you talking about?  A 1099K???  They aren't issued around Christmas.  They aren't issued until next year.  But even if you don't meet the requirements for receiving a 1099K from MP or PP for that matter as they each do their own, your income here is taxable.  It has always been taxable.  So if you haven't been reporting the income you should have in past years, that would be an issue for you to fix.