GREED

[mrlipton]

I have 400 transactions with ebay and have even sold a Porsche on ebay motors. 

I just sold a stereo unit and delivered it to the buyer.  There is a 14 day hold on my funds.

Not eby's funds - my funds.  Ebay has taken their cut.  They just want the float on our money,

I have no incidents with ebay and no complaints.  I'm being treated as a "new" seller after 21 years on ebay.

SELL ELSEWHERE!!!!

[wrong66]

One is holding money from experienced and new sellers and the other is allowing new sellers to list high-priced items. Seems like two different issues to me.

[lakefor94]

Since eBay is now in charge of payments, they have been putting the clamp down on the fly-by-night sellers.  Making it tougher for scam sellers to pull their tricks is an overall improvement to the eBay venue as a whole.  Tighter security will help in the long run.  

You just were caught up in it and that is eBay's plan. 

[house*of*paws]

Hi @mrlipton 

Your previous sales were over a year ago ... and you just sold an expensive item.  Since dormant accounts are frequently taken over by hackers/scammers ... who generally 'take and money and run' ... it actually is to your benefit as much as eBay's that a hold be put on your account.

I'm so sorry you are taking this hold as a personal affront.  ALL sellers who have stopped selling for a while encounter this hold ... and MOST sellers who sell an item for $1000 or more are given a 30-day hold.

I had my eBay account hacked during a lunch break a while back ... and someone had already listed an item by the time I discovered it.  So I know it does happen.

GREAT sale by the way!  🙂

[mr_lincoln]

---

@fab_finds4u wrote:

What is the gain on float on the money? eBay doesn't earn interest on payments in the process of being paid. 

They could be earning interest on the fees they take for themselves but they don't earn interest on your payment while it's held.

---

This kind of cracks me up a little so I have to share what my bank told me about money that is floated (synonymous with "held") by eBay-Adyen ... this was several months after being in Managed Payments and seeing that on Monday Bank closing Holidays they (eBay-Adyen) would hold weekend sales dollars for an extra week for members on Weekly Payouts (Tuesday is the Payout day for that setting).  In my case at the time it was between $ 800 to $ 1200 when it happened AND there are now on average 7-9 Monday bank closing Holidays per year (the new Juneteenth holiday that just started this year is the latest).

So, I explained how eBay-Adyen held that money and eBay stated they did not earn interest on the money ... the branch manager just laughed and said "somebody is earning money on that money!"

Another interesting point here is I spoke to the MP group (early on) and asked if Sellers could select which day of the week they could have their Weekly payouts and they flat out said no, Tuesday was the ONLY day available ... maybe someone looked at the calendar like I did before setting up the program, who knows right?!?  ... truth is stranger then fiction and we all know this old phrase, "It's all about money."

So while we will never truly know what happens to all those millions of dollars that get held for short periods I personally believe the venue and/or its affiliates benefit from it financially ... and I know some will not agree with that and that's okay too ...