30 day hold on payments over $999.00

[baker86]

(Buyer) I just bought and paid for something that was over 1K on ebay.

And Ebay will not transfer my payment to the sellers account for 30 days.

(seller) Apparently the deal on the hold is ebays newest policy. every transaction over $999 is held for 30 days. No matter what.

(Buyer) With the millions upon millions of dollars ebay is now holding for 30 days, who is getting all that interest, the sellers? I don't think so.
This sounds like a money-interest scam, ...shame on you ebay.

[baker86]

True that, but now I sale on other platforms and that problem is truly solved.

[baker86]

What they say and what they really do are two different things.

[baker86]

The payment was paid, I received the package and ebay put the sellers payment on hold for 30 days because of ebays so-called new payment policy, and yes both, the seller and buyer are in good standing with 100% feed-backs.

[eleanor*rigby]

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@baker86 wrote:

That's because I do not use paypal.

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The post to which you are responding was not directed to you. It was a reply to a different poster.

[eleanor*rigby]

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@baker86 wrote:

True that, but now I sale on other platforms and that problem is truly solved.

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You sale on different platforms now?

[herway]

They just did it again, switching the "received and sent", seems off to me. Maybe English is not ops first language? Who knows.

‎baker 86 11-04-2021 09:29 PM

The payment was paid, I received the package and ebay put the sellers payment on hold for 30 days because of ebays so-called new payment policy, and yes both, the seller and buyer are in good standing with 100% feed-backs.

[dbfolks166mt]

     eBay has stated in the Managed Payments  policy that they do not earn interest on pending payments, payments scheduled for payout, or payments that are in the process of getting paid out.

Probably a true statement, sort of. It may be Adyen that is earning the interest , just like PayPal did and still does, but you can bet somebody is earning interest on that money during the time it is being held. 

[coolections]

Ebay holding the sellers payment has nothing to do with you. Your seller is obligated to ship you your item so no need to worry.

[doc-holmes]

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@baker86 wrote:

The payment was paid, I received the package and ebay put the sellers payment on hold for 30 days because of ebays so-called new payment policy, and yes both, the seller and buyer are in good standing with 100% feed-backs.

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OK. I don't want to sound rude or snarky but why do you care? If you're the buyer, and you got your item everything is copacetic. Why do you even know about the hold? Is the seller just griping with you for fun? 

[soh.maryl]

Evidently, the buyer has received the package, but is concerned because his payment to the seller has been put on hold.  

[dayt_75]

I am the seller. The buyer knows about the issue and is fed up with ebays greed as most all of us are.  I had contacted him asking if he had chosen some option that I was unaware of that would make the payment not clear for 30 days. I have sold items for 1500, 2000 in the past and had no issues. They started off with a 30 day hold but as soon as the item was delivered the funds were released. Some of those sales were when I first started this account and had no reputation. Now I sell a 1k item and the funds are held for 30 days regardless of delivery status/buyers satisfaction. Item was delivered. Customer is pleased with it. Positive feedback left by both parties. There should at least be an option for a review for an early release on funds. Should be in effect for Flagged or unknown accounts not everyone gets whacked regardless of the situation. When did the no exception 30 day hold for transactions over 1k come into effect? I know I'm not the only one displeased with this policy. Ebay can say they aren't collecting interest themselves but we all know the payment processing company is. Ketchup or catsup in the end it's all the same.

[mtgraves7984]

Ketchup or catsup in the end it's all the same.

@dayt_75 

They put the squeeze on you. 😑

[albertabrightalberta]

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@baker86 wrote:

The payment was paid, I received the package and ebay put the sellers payment on hold for 30 days because of ebays so-called new payment policy, and yes both, the seller and buyer are in good standing with 100% feed-backs.

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The following is based on what I'm seeing in your history.

It looks like Ebay is holding the seller's payment to be able to cover in the event of a dispute. Seller has low feedback (14) and limited selling history so ebay takes the conservative route.

It's possible that the seller can contacting ebay, pointing out the positive feedback you left and getting the money released. There's nothing to lose by the seller trying that.

[dayt_75]

I had zero feedback sold items for 1500-2k and funds were released right after comfirmed delivery. My average sale is $700. To hold anything over 1k is ridiculous.

[lepke1979]

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@dbfolks166mt wrote:

     eBay has stated in the Managed Payments  policy that they do not earn interest on pending payments, payments scheduled for payout, or payments that are in the process of getting paid out.

Probably a true statement, sort of. It may be Adyen that is earning the interest , just like PayPal did and still does, but you can bet somebody is earning interest on that money during the time it is being held. 

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I don't care who is or isn't earning interest. But part of me wonders if they can't (or don't want to) earn interest because it'd potentially mean having to issue checks and 1099s to people on interest earned.

Since when it comes down to it, the period between the payment and it ultimately hitting your bank is basically a short-term escrow account.

PayPal probably didn't earn interest up to a point because they might be structured differently being an ewallet.