mam98031 • Volunteer Community Member • Buyer/Seller since 1999
Oh, and here is where / when the policy changed. It started November 1, 2023.
@dbfolks166mt wrote:Here is some information regarding the old rule vs the updated rule on earning interest.
https://community.ebay.com/t5/Payments/Ebay-manage-payments-gaining-interest/m-p/31524721#M102958
I hope that helps you to better understand that I was telling you the truth. I don't make things up, while sometimes it seems you certainly try to make it look that way.
I never accused you of making things up. However, anyone that knows anything about corporate accounting operations knows that their cash on hand, which includes the funds on hold for accounts payable, earns interest. There is nothing illegal about it and it is smart business. It is why companies pay their accounts payable at the last minute to continue to draw interest on those funds as long as possible.
EBay never denied earning interest on those funds [not true, see below] but it was a long time before they actually publically admitted to it. It's pretty easy to find the interest earnings in their financials. PayPal did the same thing when they were the payment processor.
You may want to revisit the links I provided. Ebay did NOT earn interest on held funds until November 2023. The policy page also said they didn't earn interest.
I'm not saying the money held didn't earn interest, just that Ebay did get those funds by their own admission on the POLICY page and the post made by the Payment Team at Ebay. Adyen apparently was just able to keep that interest under the older policy .
@dbfolks166mt wrote:Here is some information regarding the old rule vs the updated rule on earning interest.
https://community.ebay.com/t5/Payments/Ebay-manage-payments-gaining-interest/m-p/31524721#M102958
I hope that helps you to better understand that I was telling you the truth. I don't make things up, while sometimes it seems you certainly try to make it look that way.
I never accused you of making things up. However, anyone that knows anything about corporate accounting operations knows that their cash on hand, which includes the funds on hold for accounts payable, earns interest. There is nothing illegal about it and it is smart business. It is why companies pay their accounts payable at the last minute to continue to draw interest on those funds as long as possible.
EBay never denied earning interest on those funds [not true, see below] but it was a long time before they actually publically admitted to it. It's pretty easy to find the interest earnings in their financials. PayPal did the same thing when they were the payment processor.
You may want to revisit the links I provided. Ebay did NOT earn interest on held funds until November 2023. The policy page also said they didn't earn interest.
I read the post as well as the policy page and highly possible that eBay did not earn interest my guess is Adyen did and still does since they are the financial processor and the holder of the funds. I am unsure of the financial arrangements between eBay and Adyen but no company is stupid enough to hold funds in a non-interest bearing account or investment. I have NO problems with any company that earns interest on their cash or investments.
I'm not saying the money held didn't earn interest, just that Ebay did get those funds by their own admission on the POLICY page and the post made by the Payment Team at Ebay. Adyen apparently was just able to keep that interest under the older policy .
EBay could just has easily finished the statement that while eBay does not earn interest on those funds Adyen does. Smoke and mirrors.
mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@dbfolks166mt wrote:@dbfolks166mt wrote:Here is some information regarding the old rule vs the updated rule on earning interest.
https://community.ebay.com/t5/Payments/Ebay-manage-payments-gaining-interest/m-p/31524721#M102958
I hope that helps you to better understand that I was telling you the truth. I don't make things up, while sometimes it seems you certainly try to make it look that way.
I never accused you of making things up. However, anyone that knows anything about corporate accounting operations knows that their cash on hand, which includes the funds on hold for accounts payable, earns interest. There is nothing illegal about it and it is smart business. It is why companies pay their accounts payable at the last minute to continue to draw interest on those funds as long as possible.
EBay never denied earning interest on those funds [not true, see below] but it was a long time before they actually publically admitted to it. It's pretty easy to find the interest earnings in their financials. PayPal did the same thing when they were the payment processor.
You may want to revisit the links I provided. Ebay did NOT earn interest on held funds until November 2023. The policy page also said they didn't earn interest.
I read the post as well as the policy page and highly possible that eBay did not earn interest my guess is Adyen did and still does since they are the financial processor and the holder of the funds. I am unsure of the financial arrangements between eBay and Adyen but no company is stupid enough to hold funds in a non-interest bearing account or investment. I have NO problems with any company that earns interest on their cash or investments.
I'm not saying the money held didn't earn interest, just that Ebay did get those funds by their own admission on the POLICY page and the post made by the Payment Team at Ebay. Adyen apparently was just able to keep that interest under the older policy .
EBay could just has easily finished the statement that while eBay does not earn interest on those funds Adyen does. Smoke and mirrors.
mam98031 • Volunteer Community Member • Buyer/Seller since 1999
I Already said that. Adyen was earning interest. However that was NOT your statement that started the conversation. You said Ebay was earning interest on the money. While they were NOT before November 1st of 2023.
Ebay doesn't own Adyen. Adyen's income is not Ebay's income.
@dbfolks166mt wrote:I Already said that. Adyen was earning interest. However that was NOT your statement that started the conversation. You said Ebay was earning interest on the money. While they were NOT before November 1st of 2023.
Ebay doesn't own Adyen. Adyen's income is not Ebay's income.
EBay, Adyen, PayPal it doesn't really matter the bottom line is some entity is earning interest on the held funds. But since you need to have the last work on everything this is where I will leave it. The OP's comment and question about interest has been answered.
Now you are changing the conversation to something it wasn't in the beginning. But that is fine. I've given the receipts to show what I said about Ebay collecting interest was and is as I said it was and that was what we were disagreeing on.
@h494_21 wrote:Was talking About how they determine How long to hold funds. Think that's what op Was asking? Not what the policy is. Say If my neighbor sells 1300 bike, hasn't sold in a while and Assuming a smooth transaction is there An easy Way to find out exactly how Many days they will hold his funds?
Yes I believe most of us understand and the information as to why was posted. Whether or not you agree with the policy doesn't matter. There is information in the policy pages to help the seller with payments on hold.
Answers to the question you are asking is dependent upon the the actual seller as it can vary from seller to seller depending on certain circumstances.
You need to review the policy pages to find you answers.
Ebay has had a rule for many years that pertains to New Seller and sellers that have been away from selling for 90+ days. The following is the policy that outlines why you money is likely on hold.
https://export.ebay.com/en/fees-and-payments/payments/payment-holds/
https://www.ebay.com/help/selling/getting-paid/getting-paid-items-youve-sold/payments-hold?id=4816&&...
@h494_21 wrote:So the money held on tax collection, Held money for sellers picking weekly payouts, etc..they Aren't making money off of that Either? They aren't but the payment Processor is?
IDK what "money held on tax collection" is referring to.
I don't believe that was said at all. You may have misunderstood something.
As of November 2023 Ebay earns interest on held funds. That doesn't just mean new seller holds. It is Ebay earns interest on held funds.
@h494_21 wrote:Meaning The money they collect on transactions for sales tax. You'd think it's sitting making interest until the due dates. As well as the Money for sellers who Opt for delayed Payouts. And about some of those earlier posts have you Seen the press Releases that say they have a stake in their payment processor? does that sound right?
You do realize that Ebay is a For Profit business, right!?!?!?!
They aren't doing anything wrong. You just seem to think they don't have the right to make money, only you do.
Sellers are in control of when they want their money transferred to them. They can do that in many ways offered from Instantly to 30 days and several options in between.
OMG a little knowledge and then just RUN with making it sound like a bad thing. Likely before you start spreading rumors and incorrect information, take a breath and find out the FACTS. I know some people are firmly against FACTS, but still most of us prefer them.
Back when Adyen was selected as the bank to back up the Managed Payment program of Money Processing, Ebay did were to get stock equaling 5% of Adyen. Does that number cause you concern? If so, how does 5% cause such concern?
You will be happy to know that since then, Ebay has sold off all their stock in Adyen. That should make you feel less concerned!
https://siliconcanals.com/ebay-sells-66000-shares-in-adyen/
