Wanting to get back into the selling game after years of hiatus...Quick question...

[theofficefan4life]

So I'm an old school seller from back in the "good old days" where Paypal was still "the way" to get paid. Haven't sold anything since that switched to ebay being the sole payer. Well, I would like to get back into selling a few things, some which are very high dollar and I first want to make sure I understand the new "way" of getting paid. So according to ebays guidelines it states "once the seller has paid, funds show as Processing in Seller Hub or My eBay. It's time for your to ship the order. Once the bank settles transaction to eBay, funds show as Available".... Can someone please confirm why would I mail out anything I sell until I know good and well that I'm going to be paid? And the way I take it, eBay is suggesting (demanding?) that I mail out an item "on good faith" prior to "funds show as available".... Am I misunderstanding something? Is there some loophole or set of circumstances sellers are running into where, let's say, someone sells a vase for $500 and within 2 hours the buyer "paid" and ebay reflects the funds as "processing", the seller mails out the vase only to find out there was lack of funds afterall and the funds are not "available" therefore said buyer now owns a free vase? You guys follow me?? Please let me know if I'm correct to be concerned about not getting money due after I've mailed out an item and ebay shows as funds actually available.

[donsdetour · Accepted solution]

Manged Payments is ok: It is not PayPal which floated the payment to you.

So far if it says ship, pending funds etc...  It has always been good to go..

I have yet to read of were this failed... Time will tell.

As for getting back into selling you will encounter holds:

You funds will be held up to 30 days being possible.

https://www.ebay.com/help/selling/getting-paid/getting-paid-items-youve-sold/payments-hold?id=4816 

As for high dollar items:

Rule no 1:

If you can not afford to lose the item and ALL money payed for it:

Do not try and sell it on the nets....

[tools*]

The "good old days" were when checks, money orders, and Billpoint were the norm and most things sold. And the fees were reasonable.

[southern*sweet*tea]

This works just like it does when you go to a brick and mortar store and pay for something with a card.

Transactions take several days to process. The merchant never gets the money immediately.  It can take 2-5 days for the money to move from the card to the merchant.  In the meantime, there is a hold placed on that money on the buyer's side.   They can't cancel a pending transaction.  Nothing will happen to the money - it's on the way, they can't take it back, so you can ship the item

Just like when you swipe a card at the grocery store and the cashier lets you take your food immediately instead of waiting three or four days until your payment makes it to the grocery store's bank.

Paypal FRONTED that money - in essence they gave you a short term zero interest loan on those funds, because they knew there was no way the buyer could claw them back before the payment actually came.

After it comes is another story for another day.

[monica-sells]

Once eBay says "OK to Ship" on your Seller Hub the funds have already been approved and pending through the credit card processor. 

Same as previously with Paypal....

This part of the transaction has been done in real-time....after this, everything reverts to slo-mo (processing/transfers, etc....)

[chapeau-noir]

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@theofficefan4life wrote:

So I'm an old school seller from back in the "good old days" where Paypal was still "the way" to get paid. Haven't sold anything since that switched to ebay being the sole payer. Well, I would like to get back into selling a few things, some which are very high dollar and I first want to make sure I understand the new "way" of getting paid. So according to ebays guidelines it states "once the seller has paid, funds show as Processing in Seller Hub or My eBay. It's time for your to ship the order. Once the bank settles transaction to eBay, funds show as Available".... Can someone please confirm why would I mail out anything I sell until I know good and well that I'm going to be paid? And the way I take it, eBay is suggesting (demanding?) that I mail out an item "on good faith" prior to "funds show as available".... Am I misunderstanding something? Is there some loophole or set of circumstances sellers are running into where, let's say, someone sells a vase for $500 and within 2 hours the buyer "paid" and ebay reflects the funds as "processing", the seller mails out the vase only to find out there was lack of funds afterall and the funds are not "available" therefore said buyer now owns a free vase? You guys follow me?? Please let me know if I'm correct to be concerned about not getting money due after I've mailed out an item and ebay shows as funds actually available.

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It's important to understand how money processing works.  A payment has to be approved by the source (credit card, etc.) before it can be processed, which means that the already-approved payment is simply being transferred to the merchant's account.  Once payment is approved, it cannot be backed out.  It's a done deal.  It's on its way.

If you buy groceries and pay with your debit card, you'll see "approved" - that payment is now processing for your grocer, but they're not going to snatch your groceries and put them behind the counter until the payment is 'available' in their merchant bank account.  No, you take them home, because payment has been approved, it's on its way.  No backsies.

Paypal held our hands and advanced us little free loans which NO other process company does, because it was a bolt-on for eBay - the payment wasn't really available 'instantly' - unless one paid a percentage fee to have it transferred instantly.

A forum search will find you chat on this.

[chapeau-noir]

Don't start listing really pricey items, though - some things ARE worse here and the scams and restrictions are very definitely two of them - the scams being a problem all over the internet.

[m60driver]

I have been on Managed Payments for a few years now and I have never had any issues.  I do not hesitate to ship while authorization is pending, that is just a technical matter.

But as others noted, you will be treated as a new seller and as such your payments will be placed on hold for several weeks.  Resistance is futile.  And as others have noted, scams are common and scammers feast upon new sellers or those like yourself who are returning to selling after a long hiatus.  You should peruse this forum to see the favorited items favored by scammers which range from gaming equipment hardware to trading cards to sneakers.  In other words, items that tend to be favored by younger men.  Come back here to ask about specific items higher priced items you are thinking about selling.  Remember that you can always try to sell locally at about 20% less and still net the same amount without the risk.

[kensgiftshop]

@theofficefan4life 

Since it's been awhile since you've sold anything, don't think you'll have to worry about selling a $500 vase, anytime soon.

I've been on Managed Payments here for a year and a half and also use the program on another site and been using it 5 - 7 years there and never had a problem receiving the payments.

When Ebay says it's ok to ship, the payment has been approved and the buyer is not able to stop it.

Since you're a returning seller, you'll have low listing/selling limits and they can hold your funds for 30 days.

[theofficefan4life]

Thank you to all who responded! Very helpful!