eBay

alfontso · ‎09-05-2021

So in the good old days of PayPal our funds were immediately available 24/7

Now eBay has forced sellers to use their "Managed Funds" racket. It takes days to get paid and we have lost all control of our funds.

But here's the real kicker. Have you noticed that when a buyer purchases, the message from eBay is that "Your buyer has paid and it is time to ship the goods." Yet the funds that accrue, say over a weekend or now with a holiday weekend are "pending" for several days. That never happened with PayPal. If the funds were paid, they were available immediately.

So eBay, what are you doing with our money for those several days of "pending" that never happened with PayPal? Why does it take over a day for cleared funds to reach our bank accounts when I can Zelle funds to another account in seconds? PayPal was instant transfer for a small fee or a matter of hours for free.

And of course, with PayPal, we had control over what funds we left in place to cover contingencies, shipping etc. With this terrible eBay system, if there is some small contingency, even say 30 cents, and you don't have funds present, they will debit your bank account for 30 cents. That is NUTS!

My fellow sellers, it is time to rise up and scream at eBay to get it right. At least as smooth as it was with PayPal and not this slow, archaic system that also implies that eBay is playing OUR money on the short term money market. They say they are not, but "Your buyer has paid, ship now." and the money is still pending? Very suspicious and no coherent answer from any eBay consultant - if you can get hold of one any more.

We are stuck with this mess, but if enough of us speak up, they will have to fix it.

haha-607197 · ‎09-05-2021

@alfontso wrote:
So in the good old days of PayPal our funds were immediately available 24/7

Yet the funds that accrue, say over a weekend or now with a holiday weekend are "pending" for several days. That never happened with PayPal. If the funds were paid, they were available immediately.

We are stuck with this mess, but if enough of us speak up, they will have to fix it.

Our immediate funds at PayPal was a loan; many times, as now with Managed Payback, the buyer's payment has not yet cleared.

eBay had been suffering for over a decade because they waited for 30 days to get paid, while we got paid right away, shipped the item, and got feedback. So eBay decided to step in the middle and Managed Payback on us, so now we wait a week or so to be paid. Karma bites.

a_c_green · ‎09-05-2021

@alfontso wrote:
But here's the real kicker. Have you noticed that when a buyer purchases, the message from eBay is that "Your buyer has paid and it is time to ship the goods." Yet the funds that accrue, say over a weekend or now with a holiday weekend are "pending" for several days.

You don't have to front the money or wait for the buyer's payment to reach your bank before shipping. Just set your Shipping form to draw the postage from the buyer's pending funds. You will find the setting for that at the lower left corner of the Shipping form.

The funds themselves are not "pending;" it's the transfer to your bank that's pending. eBay already has the buyer's payment, which is why you can use a portion of it to purchase the shipping on-line.

jayjaspersgarage · ‎09-05-2021

PayPal loaned us our payments while they waited for the payments to clear. Last time I checked people with real jobs get paid once a week or less often. I get a decent payout every Tuesday like clockwork. No complaints here.

ittybitnot · ‎09-05-2021

eBay had been suffering for over a decade because they waited for 30 days to get paid

@haha-607197

Suffering?

coastaltechsolution · ‎09-05-2021

What decade?

Were you asked to join MP in 2008? before anyone else in 2018?

stainlessenginecovers · ‎09-05-2021

The decade of Paypal being the processor. haha-607... didn't mention anything about MP.

lamber9347 · ‎09-05-2021

People who only sell on eBay seem to be the ones who keep blaming eBay for managed payments. Many of the other platforms use the same exact payment company Adyen for years now. Even eBay has been transitioning sellers over to MP for two years. Eventually all of the online platforms will use the same payment system. There is nothing to speak up about. Best of luck to you....

mtgraves7984 · ‎09-05-2021

"eBay Managed Funds System is inconsistent, inconvenient and downright useless."

@alfontso

Actually, ^^^ that was Managed Payments when I opted in during August, 2019. It is much improved now.

Back then, I waited as long as 14 days for an AMEX payment to clear... the 'usual' (for PayPal or other CCs) was 4-6 days.

Over time, MP has become increasingly consistent. Now, I can count on my buyer's payment being my bank deposit in 4 business days. Your "inconvenience" is self-imposed (I think you can adapt, as others have), and regarding it being "downright useless"... that's a non-issue, too. It's all we got.

Hang in there...

chapeau-noir · ‎09-05-2021

Groundhog Day.

“The illegal we do immediately, the unconstitutional takes a little longer.” - Henry Kissinger

"Do not obey in advance." Timothy Snyder "On Tyranny"

dnasilver · ‎09-05-2021

Not a very good comparison. What is a "real" job?

kensgiftshop · ‎09-05-2021

@alfontso wrote:

My fellow sellers, it is time to rise up and scream at eBay to get it right.

You can scream all you want, it isn't going to change anything.

Been using the same program 5 or 6 years now and it works just fine.

Have a great day.

north40sales · ‎09-05-2021

@a_c_green wrote:
@alfontso wrote:
But here's the real kicker. Have you noticed that when a buyer purchases, the message from eBay is that "Your buyer has paid and it is time to ship the goods." Yet the funds that accrue, say over a weekend or now with a holiday weekend are "pending" for several days.
You don't have to front the money or wait for the buyer's payment to reach your bank before shipping. Just set your Shipping form to draw the postage from the buyer's pending funds. You will find the setting for that at the lower left corner of the Shipping form.

The funds themselves are not "pending;" it's the transfer to your bank that's pending. eBay already has the buyer's payment, which is why you can use a portion of it to purchase the shipping on-line.

there are several times in the process where funds will be pending clearance at banks.

chpgts · ‎09-05-2021

Your are absolutely correct. Now look at your monthly Financial report is incorrect. Shipping labels costs do not show up IN THE STATEMENT and when you get your yearly financial statement and your 1099k because the expense of the shipping labelS are not in the net total you will pay more income tax than you should.

buyselljack2016 · ‎09-05-2021

@chpgts wrote:
Your are absolutely correct. Now look at your monthly Financial report is incorrect. Shipping labels costs do not show up IN THE STATEMENT and when you get your yearly financial statement and your 1099k because the expense of the shipping labelS are not in the net total you will pay more income tax than you should.

You will subtract the cost of labels as an expense as you would with your other costs, and that portion will not be taxable.

My statement appears to be showing the cost of shipping labels.