Late payouts

[turtle1735]

I sold stuff a lot on Wednesday and I shipped it all on Thursday morning.  Some of it was bigger stuff so it cost quite a bit.  Now my money for these sales was cleared Thursday.  Now I overspend on the shpping fees by a couple dollars and wound up with an overdraft.  My fault but Ebay sat on my money till late Friday so there is no chance of it going into my account till probably Tuesday.  That means no sourcing, shipping anything, or other things till Tuesday.   

I have thought that maybe I stop shipping till I get paid by Ebay.  In this case it will have been 5 days of waiting on shipping. 

I am curious if anyone else is facing the same issues or doing the waiting game?  Am I being stupid because this was never an issue before they banned PayPal.   Oh, I am reseller since 1996 without issues on here.  But I am still trying to take advantage of summer yard sales and build inventory for winter and that is the reason I am falling short right now, well that and daughter buying house.  It never ends. Lol

Just looking to see if there is a better way.

[coffeebean832 · Accepted solution]

Did you know that you can pay for shipping from your pending funds on eBay instead of charging it to your bank? There's a setting at the bottom of the page where you purchase shipping labels- let us know if you need help with it.

[glasser]

How are you paying for shipping? I believe you can make your source for shipping your funds on hold with eBay if you buy labels from eBay or put ion a CC. Looked quickly couldn't find where to change that. Maybe in the label printing process.

[yuzuha]

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@turtle1735 wrote:

I sold stuff a lot on Wednesday and I shipped it all on Thursday morning.  Some of it was bigger stuff so it cost quite a bit.  Now my money for these sales was cleared Thursday.  Now I overspend on the shpping fees by a couple dollars and wound up with an overdraft.  My fault but Ebay sat on my money till late Friday so there is no chance of it going into my account till probably Tuesday.  That means no sourcing, shipping anything, or other things till Tuesday.   

I have thought that maybe I stop shipping till I get paid by Ebay.  In this case it will have been 5 days of waiting on shipping. 

I am curious if anyone else is facing the same issues or doing the waiting game? 

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No, because a) I pay for shipping out of my pending funds, and b) I never let my online selling bank account fall below $200 for this very reason.

[buyselljack2016]

@turtle1735 

You can wait to ship, but DO NOT delay your shipping beyond what is stated in the listing. That will get you a ding on your account.

Delayed shipping will not please today's "I want it now" buyers.

[katzrul15]

@turtle1735 

As others have shared, you can access your pending funds for shipping.  If you are stretched right now, that would be the best way to proceed vs using a credit card on file to bill the shipping to.  Will just create a future headache bill and you have less of an idea of your true expenses for your sales.

More concerned though - if you have a chargeback, INR, SNAD and you have to refund a buyer - you could create a huge pickle for yourself and bank fees add up quickly.

I always have an amount in our checking account(s) that I treat as "zero", even though there is a balance.  Some banks offer a small window to not charge a few on an overdraft, but most charge an arm, 2 legs and more!

Realize you think your priority right now is to "resource".  Do you have everything listed that you have resourced?  My best advice to you would be to stop resourcing until you can build a "cushion" in your account for the potential Buyer claims that are inevitable for us all.

Good luck to you.  Be safe.

[vintage-camerastuff]

That has happened to me before when ebay put a hold on funds.  In those cases I switched to paypal for shipping.  When you go to ship just click to paypal at the bottom of the shipping page.

[caldreamer]

After you make a sale...EBAY immediately deducts "selling fees and shipping costs" (balance is deposited into your checking account in approximately 5-7 days).   EBAY holds "shipping money" for you to use when printing labels (next time you print label (go to bottom of page) and click "use pending funds".   Items sold should be shipping promptly (or you will get "defect" on your account for delay).

Because EBAY payouts are very UNPREDICTABLE you need to keep "reserve funds" in your checking account to cover costs in case you get "returned merchandise" (and don't have "pending funds" available) and for listing  fees.

[buyselljack2016]

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@caldreamer wrote:

After you make a sale...EBAY immediately deducts "selling fees and shipping costs" (balance is deposited into your checking account in approximately 5-7 days).   EBAY holds "shipping money" for you to use when printing labels (next time you print label (go to bottom of page) and click "use pending funds".   Items sold should be shipping promptly (or you will get "defect" on your account for delay).

Because EBAY payouts are very UNPREDICTABLE you need to keep "reserve funds" in your checking account to cover costs in case you get "returned merchandise" (and don't have "pending funds" available) and for listing  fees.

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[jayjaspersgarage]

I use PayPal for labels and don't need to think about the weekly payouts.  Every business needs capital to start.  You've been on ebay for 22 years so you really shouldn't be struggling to buy postage.

I use the same checking account for Managed Payments that I have had for PayPal since the day I started selling in 2011.  It is simple to move money to PayPal from the checking.  

[turtle1735]

Yeah did you see daughter moving out.  She drained us big time with her "incidentals". Lol

Not usually this short but situation is just irritating seeing not even 3 months out from losing the PayPal cushion.  Don't like my selling platform messing me up.  I am kind of their customer too, at least for now.

[coolections]

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@turtle1735 wrote:

I have thought that maybe I stop shipping till I get paid by Ebay.  Just looking to see if there is a better way.

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There is a better way. Stop "buying or withdrawing" until you have enough to cover expenses.

[turtle1735]

Plus I believed that I had signed  up for the extra funds to do this and somehow it didn't happen this time.

[turtle1735]

I believe I had that but for reason it didn't go this time.

[a_c_green]

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@turtle1735 wrote:

Plus I believed that I had signed up for the extra funds to do this and somehow it didn't happen this time.

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Not sure what you mean by "signed up for the extra funds to do this," but have you been able to find the setting on your Shipping form that others have been pointing out to you? As soon as eBay tells you that the buyer has paid and it's time to ship, you can then buy the Shipping label using the pending funds from the buyer, without having to wait for those funds to be transferred to your Checking account.

You don't need to risk an overdraft in your Checking account because you don't have to draw money from there to pay the postage. Just choose the "Pending funds" option at the bottom of the Shipping form.