Amount of time for Ebay Payouts

[antrav49]

My Ebay payouts were 3-4 days from the time my customers paid for their item until posted into my bank account. Ebay came out with express payouts. They claimed it would go into my account within hours. I signed up for it and they charge an additional percentage for express payouts. It still takes an average of 2 business days to receive my money. It’s nothing to do with my bank either. I looked into it. If you think about all Ebay sellers may sell 100,000 items a day. Let’s just say an average of $10 an item. That’s a million dollars at any given time that Ebay has in some account and drawing interest off of our money. They are scheming little *%*#!+*. Nobody will stand up to a large corporation like Ebay. Wish someone could prove wrong doing and file a class action suit against them. 

[slippinjimmy]

On my sales,  payments are finished processing within 24 hours, most within 12 hours, payouts if I was on daily payouts would be the next day and at my bank funds are in the account by 5:00pm on the day of the payout.

I wouldn't pay extra, even 50 cents for an Express Payout when I only need to wait 24 hours for a regular free) payout.

I don't have any facts but I strongly suspect that VERY few regular sellers use the Express Payout method.

[12345jamesstamps]

I have "Express Payouts"...I was told for it to happen you have to be hooked up to "Tuesday Payouts" to get Express Payouts...not Daily payouts.

[adamcartwright]

Agree. I get a payout every day. I was notified that I could pay for Express Payouts, and I ignored that.
I'm not paying to get my own money. Daily is fast enough for me.

[kensgiftshop]

If it's taking that long to reach your bank account from the time payment is sent, it is your bank.

My payouts have reached my bank account that night or the next morning and I don't pay any fee to receive my payouts.

[buyselljack2016]

@antrav49 

When starting "express payouts" it is my understanding that there is a 48 hour delay when attaching the debit card to get the "express payouts", and that after that "express payouts" are done within minutes.

[ebooksdiva]

I have my payouts set to weekly. Every so often I request an On Demand payout which doesn't cost anything, payouts are in my bank by noon. 
You said " You wish someone could prove wrong doing and file a class action suit". 
For what? eBay has no control over how banks handles deposits.

As for blaming eBay for express payouts taking 2 business days, you need to talk to a bank manager at your bank to find out what their policy is for handling ACH or EFT deposits. Because some banks are same day up to 3 days to clear those deposits.  

[kenneth686321]

Sue them? For what exactly? What laws are they breaking? 

I have to wait between 48 - 72 hours after a sale for funds to hit my bank account. I don't use express payouts and am happy to wait. Neither should you. Waiting 2-3 days is a minor inconvenience.

Yes Ebay does earn interest on seller's funds but they earn peanuts in interest compared to FVF fees and PLS fees. Interest rates are around 5% PER YEAR not per day. If Ebay holds $1 million in seller's funds they only earn $136 in interest per day. $10 million per day is $1360 in interest, $100 million per day is $13,600. $1 Billion per day is $136,000 in interest. The only reason Ebay is able to earn interest is when buyers buy and sellers sell. 

Hey if sellers are actually selling 100 million to 1 billion dollars per day in merchandize in order for Ebay to earn that interest thats fantastic. 

Why should I care if Ebay is earning a teeny tiny interest on my money?

At the end of the day, I get exactly what I am owed no more no less. Do you care about Starbucks earning interest on the the money in your Starbucks account? Or Apple earning interest on the cash in your Apple Cash Account? Or your bank earning 2%- 10% interest by loaning YOUR money in your account to people in car loans, mortgages or investing in the stock market.   

[dogofwar777]

I don't have this worry because I sell elsewhere and get my money immediately 

[kensgiftshop]

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@adamcartwright wrote:

Agree. I get a payout every day. I was notified that I could pay for Express Payouts, and I ignored that.
I'm not paying to get my own money. Daily is fast enough for me.

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I keep getting messages from Ebay saying I qualify to get 3 free express payouts.

My payouts are free now and I get the funds fast enough.

[12345jamesstamps]

If a buyer paid for an item today...the express payout would happen tomorrow after 10PM if you request it and it's a small fee.

Express Payouts...are good for those holidays like on a Monday or like July 4th coming up...which is a Thursday...so some sellers might not get paid until Monday after July 4th.

Express Payouts can come in handy...otherwise I get my payouts on Tuesdays.

If a seller has a bad day...flat tire...credit card not working...refrigerator broke and all the food went bad...the seller can get money out a little quicker....for me it's out with the boys at the bar and I usually need a quick $100.00 that nite.

It works for emergencies which some sellers can have now and then.

[kabilab]

Antrav, in that all sellers having an account is voluntary, for what reason would anyone sue? Express payments are also voluntary, that eliminates them as a reason. Finally, Managed payments are only required if one wishes to be a voluntary seller.

At any time selling is no longer profitable and/or acceptable, one has merely to close their account. It is for this reason, your comment concerning "standing up" is illogical. I am not in any manner required to continue my relationship with this platform; I elect to avail myself of e-Bay's site.

[mam98031]

It will help you to better understand how the process works.

When a buyer pays for an item they have purchased, Ebay pings that buyer's payment source to confirm that the money is available.  Then on the buyer's payment source it shows up as a Pending charge.  No actual money changes hands.  Then in 24 hours or less the actual money moves from the buyer's payment source and into your MP account.  The Pending charge is taken off the buyer's account and it becomes a regular charge on their payment source.

So in the first 24 hours or so of a buyer making a payment, the money is pending in your MP account and you can see on your Summary page what is pending and what has cleared.

https://www.ebay.com/sh/fin/summary

So now you are in day 2 and once the money is Available in your MP account, you can order an Express Payout if you need to.  The money should get in your account in short order.

Now if you don't want to pay that fee, just change your Payout Schedule to be Daily and you can avoid those Express fees.

Speaking for myself only, I do my Payouts on Tuesdays.  Ebay sends those Payouts Tuesday evening.  On Wednesday, usually before noon, I have an email from my bank that my deposit has arrived.  That is in less 24 hours.  That works fine for me.

I just caution you that don't get fooled by Express Payouts.  I know sometimes it can be extremely important to get your money as fast as you can.  Then of course use it.  But if a day or two won't cause you harm, just do the Daily Payouts.

FYI Sometimes we forget stuff.  But when PayPal was our processor, you could get what they called an Instant transfer and they always charged for those too.  So Ebay charging for this is simply not unusual.