eBay

mpi_llc · ‎12-01-2022

Beware before enrolling in spendable funds! This sounds good on the surface, but I have had nothing but problems with this new feature.

1. It automatically resets your payout to on-demand, which eBay tells you it will do.

2. It automatically resets your shipping payment to PayPal or credit card and not available funds.

3. You no longer have available funds for payment of fees.

4. You must now pay all selling fees with a credit or debit card and cannot use available funds.

5. There is no way to disenroll from the program, so once you go, you are locked into it.

6. You cannot manage spendable funds; they can only be used for purchases or payouts.

I would not recommend enrolling in this program.

domin-tomas · ‎12-02-2022

The problem is if I was to enroll (which I wouldn't) I would need to make enough to spend. LOL. I never touch anything that ebay puts out. Especially if it's new.

Anonymous · ‎12-03-2022

WOW, what a scam FOR eBay!!!

baydistributionllc · ‎12-03-2022

PayPal wasn’t a bank and eBay is not a bank. They don’t have to play by bank rules. I need my money in the bank before I spend it because the bank doesn’t make up new rules as it goes along.

They created spendable funds so you will leave your money in their bank so they can earn the interest on it.

For everything that happens conditions exist such that nothing else could have happened.

farmalljr · ‎12-03-2022

Charade. A very proper word for it. And you are right, with PayPal you could spend that money ANYWHERE. If you can't even use those funds to pay for labels, I would think that is counter productive to all those that wanted the money as spendable. You'd still have to have money in the bank to pay for labels.

LMAO, be careful what you wish for. Where you think it fixes one problems, another arises.

meme6253 · ‎12-03-2022

Thank You For The Heads Up!!, I wasn't considering doing it but now I absolutely won't!!

kyle@ebay · ‎12-08-2022

@mpi_llc wrote:

Beware before enrolling in spendable funds! This sounds good on the surface, but I have had nothing but problems with this new feature.

1. It automatically resets your payout to on-demand, which eBay tells you it will do.

2. It automatically resets your shipping payment to PayPal or credit card and not available funds.

3. You no longer have available funds for payment of fees.

4. You must now pay all selling fees with a credit or debit card and cannot use available funds.

5. There is no way to disenroll from the program, so once you go, you are locked into it.

6. You cannot manage spendable funds; they can only be used for purchases or payouts.

I would not recommend enrolling in this program.

Hey @mpi_llc , our payments team has reached out to clarify some of these points.

1. It automatically resets your payout to on-demand, which eBay tells you it will do.
Yes, when sellers enroll in spendable funds their payouts will be available on demand, but there is always the option to schedule payouts when it’s convenient for you…daily, weekly, biweekly or monthly. You can manage your payout schedule in the Payments section of Seller Hub or My eBay.
2. It automatically resets your shipping payment to PayPal or credit card and not available funds.
You will be able to use your spendable funds balance to pay for shipping labels.
3. You no longer have available funds for payment of fees.
Most fees are deducted from the proceeds of a sale before funds become available to spend or withdraw.
4. You must now pay all selling fees with a credit or debit card and cannot use available funds.
Most fees are deducted from the proceeds of a sale before funds become available to spend. Your credit or debit card will not be charged unless there are not enough spendable funds to cover the fees due.
5. There is no way to disenroll from the program, so once you go, you are locked into it.
This is correct
6. You cannot manage spendable funds; they can only be used for purchases or payouts.
In addition to being able use your spendable funds to make purchases on eBay before funds are available for payout, they can also be used to cover selling costs such as shipping labels and other selling expenses. eBay also provides flexible payout options, including on demand or on your preferred schedule.

Kyle,

lotzofuniquegoodies · ‎12-08-2022

@dbfolks166mt wrote:
@southern*sweet*tea wrote:
Some sellers were very vocal when managed payments was brought on board - they wanted to be able to spend their money here immediately like they could with Paypal. They actually wanted this, so for those sellers it's a good thing I guess.
Yes indeed, those people were a very vocal part of the crowd that needed their money NOW. Like the ones that kept saying that they couldn't do business if they didn't get the money from selling their gizmo NOW they couldn't buy the next widget to sell.

Be that as it may, this "program" is just one of, it appears, many options for getting paid. Of no interest to me, and I don't spend a lot of time and angst speculating over "thats how they get you!".

The big difference with PayPal was I could spend those funds a LOT of places besides eBay. In addition from what I understand once you have opted into this charade it is rather difficult to get out of.

All I was really hoping for was a way to hold a balance( a balance I controlled) so I could cover miscellaneous fees. Should that be asking too much? It's not like WE know when our next sale will arrive!! In the past Store fees etc were pulled in one lump amount. Didn't have to worry about listing upgrades or going over you allotted listing amount. All done at the same time. Oh right and when eBay first announced it was stated there would be a monthly invoice. Only problem that poofed in a couple of months by magic. If there are perks to MP they are minimal at best. And probably works much better from eBay's perspective vs the one the sellers ended up with.

(I still find it intrigueing that fees can be pulled immediately but transaction funds can take several days to process. And sellers always have to worry about holds at eBay's whim!!)

-Lotz

ittybitnot · ‎12-08-2022

5. There is no way to disenroll from the program, so once you go, you are locked into it.
This is correct

kyle@ebay

Totally creepy! Is an 'enrollee' also subject to the two step verification that requires a cell phone for life as well?

ms.rodriguez* · ‎12-08-2022

Are you sure that you can't get out?

dbfolks166mt · ‎12-08-2022

Are you sure that you can't get out?

It's the Hotel California.

O yea you can get out, when you die. Make sure your executor knows you have money in escrow with eBay.

ms.rodriguez* · ‎12-08-2022

Yes, that is so wrong that you can't get out. I feel bad for the folks that enrolled without understanding.

eunster1313 · ‎12-08-2022

@slippinjimmy wrote:
@dbfolks166mt wrote:
I never could understand the appeal of this program to some sellers.

Maybe it works for the "unbanked". 4.5% of US households are unbanked (meaning they do not have a checking or savings account).

Or maybe it's for the 30% of US residents that don't have a credit card.

Then there are no doubt quite a few who think that if they spend the money before a payout that those funds are somehow hidden from the IRS.

It is a requirement to have a bank account in order to sign up for managed payments.
You have to be enrolled in managed payments to signup for spendable funds. "

So how would it be useful for anyone with out a bank account?

dbfolks166mt · ‎12-08-2022

Are you sure that you can't get out?

From the small print in the policy.

VII. Closing your Stored Value Account

We may close your account at any time by terminating our Payment Services in conformity with Part I, Section 11 (“Term, Termination”) of the Payments Terms.

Once you accept these Balance Terms and open a Stored Value Account, your use of the Stored Value Account becomes a condition to using your eBay account. You may close your Stored Value Account by closing your eBay account as described in Part I, Section 11 of the Payments Terms referenced above. You may not close your Stored Value Account: