Holding funds for 30 days

[bellavidainvestments]

I get that eBay has to hold funds for a time, especially with very expensive items but we have been forced to opt into this new managed payments and now the funds can be held hostage for 30DAYS!?!?!?! It was bad enough that PayPal did it for 21 days.  eBay : News flash - if ANYONE is paying over $2000 on an item and there is ANYTHING wrong with that transaction, they will not wait 30 days to report it!!!!!! Be serious eBay.  You are holding that money hostage for 30 days and that is absolutely ridiculous.  You are not keeping buyers safe by doing this, you are just PISSING OFF good sellers that are sending out what they sold as promised and then have to wait a month to get paid?!?!?!  So disappointing that eBay is going in this bad direction.  

[fab_finds4u]

Payment holds for sellers with less than 25 feedbacks for selling has been around for quite awhile. They can also hold payments of established sellers  if you list in a new category, a high risk category, or if you sell an item over $1000.

If you don't  agree then don't list it here.

[dryophelia]

@djs1784 

Do you have any idea how much money eBay is making on these ‘floats’?

I’m a bit of a numbers person and would sure be interested in the source of your information if you have that.

@luckyladymarie 

It’s not your money until the buyer can no longer dispute the payment. eBay gives 30 days of buyer protection. PayPal and most credit cards give 180 days. Amex might be even longer than that. 
eBay (and any online venue that accepts credit cards) is not the venue for a quick cash sale, even if the $$ is immediately available. 

[djs1784]

that would be a function of  a balance and the return they get on it

their gross  volume of merchandise sold  is about about 80 billion per year- so they process 80 billion dollars and each dollar  is 

 on a 21 days hold which is  about 1/17th of a year 

30 day is 1/12

so lets say 1/15th average which is 8.3 billion of 80 billion per year float

if the lend it out at 2% per year  they get

166 million

[fab_finds4u]

Will you please stop with the false and misleading information about them earning interest.

The user agreement you signed says while using eBay you will not post false, inaccurate. misleading,  deceptive, defamatory, or libelous content.

eBay has said in the Managed Payments policy that they do not earn interest on pending payments, payments scheduled for payout, or payments that are in the process of getting paid out.

Please quit saying they are managing payments to earn the interest or they make good interest on 2- 3 thou.  That's false and inaccurate.  

[rosachs]

You're quoting an April 2021 article to explain what exactly.  Did you read the article?  I mean, all the way to the end?  If you did, please explain how "That's a value stock in today's market and could be a good bargain if this company continues to make progress on new revenue-growth drivers like managed payments and promoted listings." is a problem.

Also - I've been selling here for years and have never had funds held.  Even now, with MP, my funds are deposited into my bank 3-4 days post-payment, which is the same time-frame PayPal had before they started their "Instant Funds" promotion/policy.

Unless you are a new seller or selling in a very high-risk category, or selling products that have a known high issue rate (drop-ship products come to mind), there should be no hold.  At least not in the US.

-Bob.

[wa-4579]

dont holding my money for 30 days! Or start paying 10% interest if you're doing it!

[kh-vince]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread if you wish to continue to discuss this topic.

Thank you for understanding.