How would this make you feel?

[lightrasp]

Second experience with the 'new' payment system: Sold an item and the entire process from customer payment to being available in my bank account took SIX DAYS!  In the meantime, the customer received the package in 4 days - TWO WHOLE DAYS BEFORE I HAD ACCESS TO MY PAYMENT!

Methinks someone is pulling my taffy here...

comments?

[bimm_corp]

@lightrasp 

>Methinks someone is pulling my taffy here...

Not only eBay. Looks like you received the usual treatment from the "Cheerleading Squad" aka comment Police; it's all your fault and you should be grateful to eBay for getting your payment to you at all.

[wahlstreetmkt]

One site you don't get your money for at least two or three weeks. Others, until after they get the item and OK it or three days after delivery. Am sure there are others with their own quirks on payment. So waiting up to a week after purchase isn't a huge deal to me.

I guess it was nice that PayPal was fronting the money so it seemed like the money was coming immediately. But not having to log into a separate site to view the transaction and get to the money is also nice. For me at least.

[wahlstreetmkt]

---

@little*blackdog wrote:

Yeah, six days is a long time.  Doesn't eBay promise deposits in fewer days?   Although they keep changing it so I can't even say how many days it's at now.  Some states have laws saying such deposits must be made within 2 days.  Seems like one of those things that's going to need more R & R (research and regulation) before we all understand or completely accept it.  Hang in there.

---

I was given the option for daily or weekly withdrawals. Chose the latter. Still gotta wait the day or two from eBay to my account. But it's an option.

[reallynicestamps]

This puts experienced sellers in the same position as newbies and occasional sellers, whose payments can be Held by PP (and I guess now by MP) for up to 21 days.

Slightly less for US-based sellers.

[lightrasp]

Yes indeed - the replies had the stench of stooges!

[lightrasp]

What makes this 'sad' is that APPLE is perfectly happy to let me walk out of the store with FIVE GRAND in computer equipment when I put down a credit card.

Personal Opinion: The lowest at APPLE is smarter than the smartest at ebay.

And every day I THANK GOD this isn't run by zuckerberg!  b/c he's a (BLEEP)!

[maxine*j]

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@lightrasp wrote:

What makes this 'sad' is that APPLE is perfectly happy to let me walk out of the store with FIVE GRAND in computer equipment when I put down a credit card...

---

Of course they do.  But that $5000 is not yet actually in the store's bank account.  What has happened is that your credit card has run, the processor has said all is copacetic, and so off you go with your merchandise --  while your $5000 payment shows as "pending" in the store's bank account and will for a few business days. 

Credit cards have always worked that way.  This is nothing new.  And, as a merchant, it's how things will work you under Managed Payments.

The anomoly  was PayPal's practice of going ahead and fronting you the money from credit card payments before that money actually was paid into their account.   Of course, that fact alone shows you how safe and reliable cleared cc payments are.

=

[lightrasp]

With 185 MILLION active customers and a gross value of 37.53 BILLION dollars, ebay ain't hurting for money, and their STINGY policy   of holding back the pittance of payment is just shy of Highway Robbery. You could even say they are (BLEEP)!ing people with their pants on.

But I digress...

Let's say ebay is paid 1.5 cents (per month) for every dollar they deposit in their bank. Let's say -for the sake of argument - that of the 37.53 BILLION dollars of worth, about 12 BILLION is floating currency.

Tell me how much ebay made by holding the customer's money...Can you do the math?

And, dear Maxine - I love your naivete, unfortunately that is NOT how credit card transactions work!