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.

mtgraves7984 · ‎12-01-2022

I would not recommend enrolling in this program.

@mpi_llc

Thank you for the 'heads up'... now I'm really glad I didn't touch it with a 39-and-a-half-foot pole. Wowzer.

doc-holmes · ‎12-01-2022

I don't really grasp the whole concept. It's like gift cards. You're taking money that's good EVERYWHERE, and turning it into money that's only good on eBay. I get it, you don't have to wait a couple of days this way, but c'mon. I guess some people like it.

dbfolks166mt · ‎12-01-2022

I never could understand the appeal of this program to some sellers. EBay is without a doubt the big winner for those that do enroll in this program. They pay no merchant fees for transactions against spendable funds like they would for CC transactions and your funds sitting in escrow earn them interest much the same way they did and do for escrow funds sitting in PayPal or any other third party financial providers escrow accounts.

I much prefer to purchase things with my CC which has a 5% cash back reward and is essentially a interest free loan for up to 30 days.

moldy5 · ‎12-01-2022

am thinking this was an eBay plan designed to make more money for eBay. Has nothing whatsoever to do with helping our experience here any better. so glad you posted & hope many read this thread before jumping in.

slippinjimmy · ‎12-01-2022

@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.

Paranoia strikes deep
Into your life it will creep

dbfolks166mt · ‎12-01-2022

Maybe it works for the "unbanked". 4.5% of US households are unbanked (meaning they do not have a checking or savings account). Well they would need either a savings or checking account to even sell on eBay under MP.

Or maybe it's for the 30% of US residents that don't have a credit card. Percentage is actually quite a bit less than that but those that don't have a CC are probably not selling or buying on eBay anyway.

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. Now this one I could believe.

mr_lincoln · ‎12-01-2022

@mpi_llc , @dbfolks166mt , @slippinjimmy , @moldy5 , @doc-holmes

Regards,
Mr. Lincoln - Community Mentor

southern*sweet*tea · ‎12-01-2022

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.

For me it's not an option because I really don't buy anything here, and most of the time when I do I use my buying account, no "spendable funds" for me to access.

The easier you are to offend the easier you are to control.

We seem to be getting closer and closer to a situation where nobody is responsible for what they did but we are all responsible for what somebody else did. - Thomas Sowell

stainlessenginecovers · ‎12-01-2022

Is the 'payout on demand' the one where they charge you 1.5%??

doug_5857 · ‎12-01-2022

Thank You Very Much for the post.

doc-holmes · ‎12-01-2022

@mr_lincoln wrote:
@mpi_llc , @dbfolks166mt , @slippinjimmy , @moldy5 , @doc-holmes

OK, yeah. That's pretty funny 🙂

iamonourside · ‎12-02-2022

@mpi_llc ,

Yikes. What do you plan to do?

tdrake · ‎12-02-2022

@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!".

dbfolks166mt · ‎12-02-2022

@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.