Buyer wants to cancel $775 order, no funds available...

[ry91214]

Hello,

I woke up to having a $775 order, only to see that the buyer stated their 15 year old bought it and didn't know what they were doing. When I tried to cancel, I see that I don't have the money to refund them (Ebay managed payments has their money, and likely will have it until Tuesday next week). My funds show (-$1.17) It shows $700 is "processing". I don't have that money in checking (which is where Ebay states they will take money from).

I do not want an overdraft fee as result of trying to correct this buyer's mistake.

Any advice on how I can help them without screwing myself?

Thank you

[octa-hex]

Tell the buyer that you will refund them in 2 to 3 days. The funds are right now in processing state once it change from processing to available, you will have the $730.77 as available funds which usually you transfer to your bank but in your case you will than just go ahead and refund the buyer.

[bigdeals.etc]

This OP makes me wonder... what if their buyer filed a formal cancellation request within the first hour of purchase and the seller accepts the cancellation? Will ebay simply reverse that $775 payment processing (take the funds out of the original payment transaction)? Or will ebay continue to process that payment but immediately go into the "available funds" to pull the refund amount... and if that doesn't satisfy the amount ebay will go after your funding source (bank account)?

[octa-hex]

Yes, ebay will take that from you available funds and if you don't have enough funds you balance will go to negative or they might pull funds from you bank account.  The things is that to get paid you have to wait but refund goes instantly. What a shame. No ebay won't reverse the original payment. It will have the original payment go through and this is why this seller (who open this thread) is having issue as his payment is still processing and he want to do a refund. In his case if he does the refund now his balance will go 730.77 + 1.38 Negative.  SO it will be -$732.15

[bigdeals.etc]

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@octa-hex wrote:

Yes, ebay will take that from you available funds and if you don't have enough funds you balance will go to negative or they might pull funds from you bank account.  The things is that to get paid you have to wait but refund goes instantly. What a shame. No ebay won't reverse the original payment. It will have the original payment go through and this is why this seller (who open this thread) is having issue as his payment is still processing and he want to do a refund. In his case if he does the refund now his balance will go 730.77 + 1.38 Negative.  SO it will be -$732.15

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Yea I had a feeling this was true. Greedy ebay. So in my specific example, it's best to decline the buyer's cancellation request despite you really wanting to honor that (but can't due to ebay's dumb method).

[c06u]

Set up an account just for eBay DO NOT opt for overdraft protection on that account, and keep only a minimum amount in the account,  this will protect you from eBay overdrawing your account by declining any large payment to them, honestly if they were using good business practices they would in advance notify you about any withdrawals they were going to make

[octa-hex]

I would say accept it and eventually the processing funds will be available funds. So it will balance out in the end. If you decline the cancellation request than it can get difficult to process the refund to the buyer. You will have to go to sellerhub order page and process the refund from there and I am not sure if ebay final value  fee get refunded that way.

[pikabo-icu]

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@octa-hex wrote:

Yes, ebay will take that from you available funds and if you don't have enough funds you balance will go to negative or they might pull funds from you bank account.  The things is that to get paid you have to wait but refund goes instantly. What a shame. No ebay won't reverse the original payment. It will have the original payment go through and this is why this seller (who open this thread) is having issue as his payment is still processing and he want to do a refund. In his case if he does the refund now his balance will go 730.77 + 1.38 Negative.  SO it will be -$732.15

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OOOOkay...  THAT is 100% unacceptable! I would be (or should I say WILL be with the current climate) LIVID if this happens.. That is just NOT acceptable.. 

[pikabo-icu]

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@octa-hex wrote:

I would say accept it and eventually the processing funds will be available funds. So it will balance out in the end. If you decline the cancellation request than it can get difficult to process the refund to the buyer. You will have to go to sellerhub order page and process the refund from there and I am not sure if ebay final value  fee get refunded that way.

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Yeah but what about the charges from the bank/CU??

This is a garbage way to do business.. Can I at least set up a CC for this? 

If I could do it via a credit card, I could float the money for about 28 days- but if I have an issue like this will a $1200 handbag??!!!  I don't want eBay charging my account(and yes it's just for eBay) because the banks will have their fees.. 

[katzrul15]

We just had to cancel one and nothing was taken from us as nothing was given to us yet - it was still in processing.

It just cancelled the order.  To us nothing was refunded from us. 

[glasser]

Yup, the buyer should be willing to wait since they have requested cancelation as a result of a problem on their end not the sellers.

[pikabo-icu]

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@katzrul15 wrote:

We just had to cancel one and nothing was taken from us as nothing was given to us yet - it was still in processing.

It just cancelled the order.  To us nothing was refunded from us. 

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See this is what I thought would happen..

Buyer asks to cancel, seller cancels, refund comes automatically from eBay.

I thought the refund would come from eBay from the payment that was made, in fact if payment was made via a CC, it would be pending for cc holder and just vanish without moving to processed. Again this is what I assumed so perhaps I've made an **bleep** outta myself.. 

If that's not how this works- then there's a HUGE problem here.. 

ETA: they censor  @rse? Seriously? Isn't everyone supposed to be 18 & over..  

[octa-hex]

Not sure what you meant. But if you have an order for $50  and buyer message after 5 mins to cancel the order. IF you did cancel the order. You balance will be -$50.00

Understanding that you started with 0.00 balance for available balance.

[bigdeals.etc]

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@octa-hex wrote:

I would say accept it and eventually the processing funds will be available funds. So it will balance out in the end. If you decline the cancellation request than it can get difficult to process the refund to the buyer. You will have to go to sellerhub order page and process the refund from there and I am not sure if ebay final value  fee get refunded that way.

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Not if the funding source doesn't have enough funds to cover the cancellation amount. I'd rather create difficulty processing a refund than be penalized by my bank for overdraft. For example, if I list something for a million dollars (and I obviously don't have a million dollars cash in my bank), someone buys it and files a cancellation within 1 hour... I'm going to decline that cancellation request and just wait til the payment processes thru in order for me to refund them later. Even if FVFs aren't immediately refunded, I'm sure a call to CS would fix that problem.

[octa-hex]

This has happened. Many times. You need to understand that refund goes instantly but when you get paid it can take 24 hours before the funds are available to transfer to bank account.