mam98031 • Volunteer Community Member • Buyer/Seller since 1999
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@mndbball wrote:As a seller, I am NOT shipping until the payment is processed. I understand your frustration, but even Amazon doesn't ship until payment is verified, and eBay is just taking a lot longer than Amazon!
I sell on Amazon too, I don't use FBA, I ship my own stuff. Amazon REQUIRES that the seller ship before the money is put into the seller's account.
MP doesn't require that.
@mndbball wrote:and should those "payments not clear or be challenged by the Credit Card Co (stolen or misused card) the seller is stuck holding the loss. I am not shipping until the payment is processed and I am notified it's on the way to my bank.
You are talking about different things here. If you want to wait until all that has passed, we would all have to wait about 180 days / six months on every transaction. No money processor can guarantee that the buyer won't at some later date file a claim with their credit card company that the card was lost or stolen, or otherwise a fraudulent transaction. No money processor can see that far into the future. So this really is an unrealistic thing to expect.
When a buyer submits a payment, Ebay pings their funding source. If that funding source approves the charge, then the payment is processed into a seller's account. Buyers have absolutely NO ability to change, cancel or otherwise mess with a payment once they submit it. They could NOT do it in Paypal and they can't do it in MP. Those payments will get processed, 1-2 days to actually get the real money from the funding source into your Available money.
If you choose not to ship until the money is in your bank account, make sure that you understand that doesn't protect you from a buyer filing a claim for lost or stolen at some later date, just as they could for up to 180 days in PayPal.
But still your choice to wait to ship until the money is in your bank. Just make sure you change your handling times on all your listings to accurately reflect this because if you don't and they are set for a lesser amount of days, this will cause you to start racking up late shipment defects that will harm the health of your selling account.
It is completely up to you. You can ship right away if you want because there is no risk to those payments coming in from buyers or you can wait until the money is in your bank. We each make that decision for ourselves. Just make sure your handling time is accurate.
@mndbball wrote:Nice spin. "You can ship right away if you want because there is no risk to those payments coming in from buyers". No risk? How is that possible if the payment is still being Processed? NO other online business ships before payment is made and processed. Credit Card settlements can be completed in a 24 cycle yet eBay gets the payment and still we wait 3-5 before it's transferred to us. Until it's verified as a successful transaction, , don't ship. Trying ordering on Amazon, Kohl's, Target or any other source and asking them to wait up to 5 days before you pay, but demand they ship ASAP! I'll continue to ship as soon as the process is completed and I strongly recommend others do the same.
No "spin" in what I shared with you.
Consider your experience with PayPal. When a buyer submitted a payment to you via a CC. Did you ever have that buyer change, cancel or otherwise mess with that original payment. If you are being honest, the answer is no. The same holds true for MP.
At some later date the buyer may file an INAD, INR or Chargeback [claim directly with the CCC]. That was true in PayPal and is true in MP.
"NO other online business ships before payment is made and processed. " That is factually incorrect. Just to name a few that do require sellers to ship to the buyer, the buyer must receive the item and approve the item BEFORE the payment the buyer submitted is release to the seller are Mercari, Poshmark and Offerup.
You are correct, often times CC processing can take place in 24 hours. In MP my experience is most do clear that fast, but some others, likely depending on the CC, do take 48 hours. Which is why MP states 1-2 days to clear payment.
Once a payment clears it moves to Available funds in your MP account. Those funds will transfer on the next available Business Day for those that do Daily deposits or the next available Tuesday for those on Weekly transfers. Once the money is transferred it takes 1-4 days for the ACH banking system to get it delivered to your bank.
The only time you will wait 3-5 days before a CLEARED payment transfers to you is on a long holiday weekend. Transferring money goes through the ACH banking system and it is no open on Weekends, so MP can only transfer on Business Days.
"Until it's verified as a successful transaction, , don't ship." That is your right to make that decision for yourself. Every seller has the right to make this decision for themselves. Either way is fine. Each seller has to decide what is best for them. I ship right away, always have and it has never been an issue. So again, it is whatever works best for each seller is the right thing to do.
I sell on Amazon too as I do on a couple other sites. Amazon REQUIRES sellers ship before funds are released to them, or goes into their Available funds. Getting funds out of Amazon is not that much different than MP. Their standard set up is they payout every couple of weeks, but sellers can request a payout. Once the transfer is sent, it takes 1-4 days for the money to arrive at my bank. I have found receiving the transfer from Amazon is a bit slower than getting the transfer from MP.
I do Weekly deposits with MP. Every Tuesday morning they release my available funds to me. Before noon on Wednesday I have an email from my bank notifying me that the deposit has arrived in my account. I do bank with a major bank. Sometimes smaller more localized banks might take longer.
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