mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@jdigga24 wrote:I 100% agree. I got my first dose of it today. I sold an expensive item on Thursday last week, and its monday now....and I just got a message that the payment has processed and funds are sent, which will take 3-5 business days. Like woah, wait a second....I was told that I would get the money is 3-5 business days....in my bank. So now its going to take a week or longer? This is totally garbage. I should have the choice of whether I want to stay with the old system or switch to the new one. Is there a way to reverse it once you've signed up?
You may have misunderstood.
@jpco450 wrote:Not the best implementation. After 2 days, payment is still showing processing. Not quite sure why it's taking so long to process a $14 purchase. With a potential of 2-3 days after transfer is completed by ebay, that's about a week (business days) after sale before I may even see the funds. Pretty pathetic.
Likely because they process on Business days and today is not a business day.
When it is available for transfer and then gets transferred it should be 1-4 days until it arrives bank. The length of time to your bank depends on your bank. I bank with a major bank and I have my deposits by noon the following day.
See post 107 on this thread. It is just above your post.
@gusher4you wrote:just stop selling on ebay and go to others places...Thats what i am going to do.No way will give ebay my ssn or bank account info...never
Make sure you do your research on what site you may want to go to. Sites similar to Ebay all have their own money processing programs so you have to give them this info. You will need to go to the smaller sites and determine if you can make enough money there to make it worth your efforts.
@mach128 wrote:Smart, I ‘m not buying much lately but heard many sellers include their contact info inside packages. I was always fair to Ebay but now would likely be doing the same, rules have to apply to both sides. I have contacts for many sellers but used Ebay despite as it was convenient - well that is not the case any more, I get an error message trying to relist items same way I always did so I assume system is broken as it does not work for me anymore.
Unless you were told you were to enter MP by a certain date and you didn't. That would also cause your relist issue.
@greggd-aol wrote:Wow! What a stunning example of condescending arrogance in reply to lv-live365. So, he’s “misinformed” because he doesn’t agree with you? He “doesn’t have the basics down” and so he’s stupid? How about maybe YOU don’t have the basics down? How about maybe Managed Payments actually is as bad as he thinks.
Let’s go down the rabbit hole of eBay’s flawed scheme of “Managed Payments,” shall we? It’s not difficult to figure out. You give them access to your personal bank account. Let that sink in for a second. They can then pull money out whenever they want. All a buyer needs to do is to claim that the item received is broken or does not match the description and IMMEDIATELY eBay screws you as the seller. If there is no money ‘on the way’ that they can grab, they will reach into your bank account and pull the money out. And you gave them permission to do it. Ouch! This idea sucks. At least with PayPal, you have a separate PP account and they do not have direct access to your personal bank account.
If eBay’s vaunted security system were to be breached, your banking account could be sucked dry and you wouldn’t even have the money needed to sue eBay. No thanks. The simple truth is that eBay will NOT issue a 100% sold legal guarantee that their system will never be breached. Nope. So, if they have no confidence in their system, why should any of us?
The bottom line is that eBay figures to make a lot more money with their new system and, if we as sellers refuse to comply, then we get shut out. Fine. If that’s the case, then I am done selling on eBay.
Not "arrogance" but amazement that someone would enter a program simply because Ebay told them to, supply their SSN and banking information and not ask and/or learn what the program was even about. Not even where their money will be going.
I NEVER called ANYONE a name. That is coming from you. I don't call people names. I'm an adult and don't see any need for that to get my point across.
I do understand the basics and I did before giving Ebay the information they needed to start my account. You are taking a huge leap to ASSUMING that because I can explain the program that I like it. I never said any such thing. And even if I did, not everyone does hate MP. We are each allowed to form our own opinions.
"How about maybe Managed Payments actually is as bad as he thinks." That isn't possible since they don't understand what the program is. So they are just assuming and going off of what someone else says instead of learning about it for themselves.
Best to understand the process of when Ebay takes money from your bank account and when they don't. And before you JUMP to the conclusion that I support Ebay putting funds on hold when a claim is filed on a seller that has longevity and history with Ebay, I do not. But they do so we have to deal with it.
I and many other sellers don't attach MP to our main personal checking account. We opened a separate account for the purpose. Very simple to do and with many banks you can do it over the phone. For myself I feed all the sites I sell on into this account. It makes accounting easier and cleaner while keeping the information provided the sites my personal account number. And easy fix to the concern you raised.
Ebay is the last of the bigger sites to move to their own money processing and making it mandatory. You will only find smaller sites that don't. So make sure you do your homework. Those smaller sites may or may not give you the traffic to get the sales you need.
