Fee's

[kaw-kru-900]

Ebay insatiable lust for money has propelled them into becoming the world's largest and most profitable greed machine on the planet. Apparently ebays shareholders are never satisfied with their grossly huge profits . Continually adding more fees and costs to use their platform. The latest brainstorm is managed payments.  As if their ridiculous selling fees weren't enough now they hang onto the sellers profits for 3,4,5 days before distributing to the rightful owner. Collectively with millions of sellers these 3-5 days undoubtedly rack up millions in profits from interest alone. Will this greed machine ever be satisfied? Doubtful, money is the root of all evil and greed drives the heartbeat of ebay. Unfortunately it's also turned a once fair win win business into a complete ripoff. Very sad for sellers.

[firesteel_surplus]

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@dirk12955 wrote:

Tagging on:

Our OP berates eBay for making a profit.     Does our OP make a profit on the things he sells?    Is he willing to open his books so we can all judge whether he is a "Greed machine"?

Anybody that wants to tell me how much profit I can make, can go kick rocks.

I've received 21 pay outs so far for the month of December.     That's hardly 3-5 days as described by our OP

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Good response. With 21 payouts, you must be on the daily payout. Does that work pretty good for you? I went with the weekly and have been on it for almost a year. It's been fine for me.

My ebay sales do not supplement my retirement income....well it does...I just don't NEED it for retirement. It is just play money for me to buy more stuff for my hobbies or for Firesteel Surplus.

Mike

Firesteel Surplus

[dirk12955]

I screamed bloody murder when they took away Paypal.    It took me no time at all to adjust to MPs and have had no issues.

I chose daily payments for no real reason.    I use my eBay income to supplement my retirement plus find the 

daily payments easier to track.    

[kensgiftshop]

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@2011jleach31 wrote:

They are earning money on the interest

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If you knew how the system worked, you would know they don't.

[north40sales]

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@kensgiftshop wrote:

@kaw-kru-900 

With Pay Pal, the fee's were what, 12.99% + $0.30 and Managed Payments is 12.55% (most categories) + $030.

No, they don't earn any interest on our money.

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Their only statement on the subject of interest is clear and carefully written. 

[north40sales]

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@itsjustasprain wrote:

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@kaw-kru-900 wrote:

Ebay insatiable lust for money has propelled them into becoming the world's largest and most The latest brainstorm is managed payments.  As if their ridiculous selling fees weren't enough now they hang onto the sellers profits for 3,4,5 days before distributing to the rightful owner. Collectively with millions of sellers these 3-5 days undoubtedly rack up millions in profits from interest alone.

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Ebay has stated on multiple occasions and in multiple locations that they do not collect interest on the buyers pending funds. If anyone does it would be Adyen as they are the actual payment processors for Ebay and that is presumably how they earn their income.

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Pending funds are not even in eBay's custody yet.  How can a business earn interest on money that is not in their account? 

[north40sales]

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@firesteel_surplus wrote:

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@albertabrightalberta wrote:

*sigh*

Here we go again........

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You took the words right out of my mouth....

Mike

Firesteel Surplus

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I assume you are a business based on your user name and sig line.  

Simple question. 

Do you earn interest on your business checking and/or business savings accounts? 

[north40sales]

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@luckythewinner wrote:

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@kaw-kru-900 wrote:

As if their ridiculous selling fees weren't enough now they hang onto the sellers profits for 3,4,5 days before distributing to the rightful owner. Collectively with millions of sellers these 3-5 days undoubtedly rack up millions in profits from interest alone.

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It takes the ACH system 1-3 to process and clear the payment from the buyer, and another 1-3 days to process and clear the bank transfer to the seller.

You are making the incorrect assumption that these processing times are controlled by eBay and that they are making interest off the ACH clearance process.

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@kaw-kru-900 wrote:

money is the root of all evil and greed drives the heartbeat of ebay.

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Don't you don't accept money for the  items you sell here?

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Funds that are in process with Automated Clearing House Bank (ACH) are not in eBay's account.  The only party that can earn any interest on those funds is the ACH itself until the transaction is fully funded at the recipient banks.   Google is an excellent resource if you have interest in knowing how the entire ACH process works.   Its cumbersome and clunky, but it works and is the most common method of large fund clearance payments in use today. 

[north40sales]

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@wrong66 wrote:

Please provide a link that backs up your assumption.

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Please use the quotation marks symbol to bring the comment that you are replying to into your new comment so when people read it they can understand what you are referencing.....  

[north40sales]

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@kensgiftshop wrote:

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@2011jleach31 wrote:

They are earning money on the interest

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If you knew how the system worked, you would know they don't.

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I earn interest on my business accounts whenever funds are in it.  Its oftentimes fractional interest with the in and out activity, but interest is interest no matter the amount.  

[bashort · Accepted solution]

ebay has but one purpose, that being making as much money for its stockholders as it possibly can and is in fact legally obligated to do just that.

You just need to make the business decision of if  selling your items on ebay good for your business.

[north40sales]

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@bashort wrote:

ebay has but one purpose, that being making as much money for its stockholders as it possibly can and is in fact legally obligated to do just that.

You just need to make the business decision of if  selling your items on ebay good for your business.

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Finally!!!   Someone gets it.  

[pburn]

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@north40sales wrote:

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@wrong66 wrote:

Please provide a link that backs up your assumption.

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Please use the quotation marks symbol to bring the comment that you are replying to into your new comment so when people read it they can understand what you are referencing.....  

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All "people" have to do is click on "in response to 2011jleach31" in order to understand what wrong66 is referencing. It will direct one to the exact post to which wrong66 is replying.

[dq3141]

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@pburn wrote:

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@north40sales wrote:

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@wrong66 wrote:

Please provide a link that backs up your assumption.

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Please use the quotation marks symbol to bring the comment that you are replying to into your new comment so when people read it they can understand what you are referencing.....  

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All "people" have to do is click on "in response to 2011jleach31" in order to understand what wrong66 is referencing. It will direct one to the exact post to which wrong66 is replying.

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It s a lot more helpful to actually quote the post being responded to (as you did), so the reader doesn't have to click the "in response to", or scroll back, or even jump to a different page, in order to go back to what the poster is responding to.

[pburn]

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@dq3141 wrote:

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@pburn wrote:

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@north40sales wrote:

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@wrong66 wrote:

Please provide a link that backs up your assumption.

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Please use the quotation marks symbol to bring the comment that you are replying to into your new comment so when people read it they can understand what you are referencing.....  

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All "people" have to do is click on "in response to 2011jleach31" in order to understand what wrong66 is referencing. It will direct one to the exact post to which wrong66 is replying.

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It s a lot more helpful to actually quote the post being responded to (as you did), so the reader doesn't have to click the "in response to", or scroll back, or even jump to a different page, in order to go back to what the poster is responding to.

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That's a matter of opinion. I prefer not to inflict my opinions regarding how to post on other members. What you consider "a lot more helpful" doesn't necessarily apply to everyone else. 

I do find it interesting, however, that you would have formed opinions regarding the best way to post after being a member of the Community for four days. Quick study.

[north40sales]

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@pburn wrote:

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@north40sales wrote:

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@wrong66 wrote:

Please provide a link that backs up your assumption.

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Please use the quotation marks symbol to bring the comment that you are replying to into your new comment so when people read it they can understand what you are referencing.....  

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All "people" have to do is click on "in response to 2011jleach31" in order to understand what wrong66 is referencing. It will direct one to the exact post to which wrong66 is replying.

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The vast majority of folks will simply scroll right on by and never try to navigate to the original comment.   Using the quotation marks is fast and simple and very very effective.