Managed Payments - slow bank payouts?

[bbqhqnet]

Hi guys, has anyone else been affected by increased wait times for eBay sales funds to come across to your Bank accounts? It used to be 18 - 24 hours with PayPal - now seems to be taking DAYS?

Steve

[davewil1964]

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@tazzieterror wrote:

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@waddingtonfirstaid wrote:

Money is taking around 5 days to reach our bank account after the actual sale date based on the following real examples:

EXAMPLE 1 (involving a weekend) - 5 sales on Fri 14, Sat 15, and Sun 16 Aug 2020 totalling $132.38, that bundled amount came through to our bank account on 18th Aug 2020 - 5 days to arrive after sales.

eBay's "1 day turnaround" is a con. Something else is going on, such as eBay bundling payments over more than one day (Fri + weekend + Mon to see the bulk payment) and most likely profiteering from holding our money.

EXAMPLE 2 (involving only week days):
- 2 sales on Thurs 13 Aug 2020 - $23.54 + $63.07 = $86.61, notified in email 17 Aug 2020 - arrived 17 Aug 2020 - 5 days after sale.

- 3 sales on Wed 12 Aug 2020 = $272.63, notified in email Fri 14 Aug arrived 14 Aug 2020 - 3 days after sale.

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You seem to have a problem with counting days.

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Sure does. ALL examples are 2 working days.

[toysandthings12]

well its just **bleep**,

Transfer was listed as meant to go on 19th from a sale on the 17th, went thru 4am on the 20th, not in the bank account so far...

seems this is a total waste of our time and cash.

What was once a 6 hour timeframe is now looking like a week...weeks??

More sales since accumulating but still in the processing stage....wow this couldnt get worse right....wrong.

I havent got to the what others have reported declined stage so far.

The joke is on us.

[waddingtonfirstaid]

There is no problem with the way I counted the days because I always include the first day given there are many hours in which the payment could have been transferred. Please remember, if the payment came through instantly, it would be zero days. As soon as eBay hangs on to our money, that day of the sale is the first day eBay decided to hang onto our money and make money from it. Do you really think hours don't count as far as this holding is concerned? Therefore, it is very fair to count the first day as day number 1. It is also fair to count the last day too because eBay is still making money on the last day as well.

If eBay sent through the payment instantly, I'd be happy to say the payment took 0 days to arrive but you certainly can not afford eBay 0 days when a number of hours feature in the first day, certainly not when it starts to take hours within the first day of eBay manking money from our sale. Also, for the sake of highlighting this fact and being brief, I'm not going to calculate the hours and minutes and then turn that into whole days and parts of a day whether that unit be hours, minutes or a decimal fraction.

[waddingtonfirstaid]

Another way in which the number of days can be counted in the way I mention, when payments are not instant, is every day plays a part. Let's not fool ourselves and think otherwise. The first day is always countable for this alone, especially if you are on eBay's 1 day turn-around which affords you 2 days (inclusive) in which to act. Every day in the sequence plays a part, from day 1 of the sale to the last day of dispatch if you send on the day in which the money actually arrives in your bank account.

If buyers think something is taking too long to arrive, and it doesn't leave on the same day of the sale, the first day will be counted by them if the package is dispatched sometime the next day, within 24 hours. Let's not fool ourselves otherwise.

This is not just about a total time frame but a number of days in which you are first notified and preparing, then waiting to have payment confirmed and all other things associated with eBay sales, seeing the final payment amount minus the fees, confirming the arrival of your money and finally, the day in which you finally arrange a consignment and send the buyer's parcel. All this work happens over a number of days if you do not send on the day of the sale when you have no use of the money. It is eBay's fault that it takes 5 days as per the examples I gave. During Paypal days of instant payment, processing, dispatch and use of the sale's funds was instant, and turn-around was able to be achieved in less than 1 day.

[tazzieterror]

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@waddingtonfirstaid wrote:

There is no problem with the way I counted the days because I always include the first day given there are many hours in which the payment could have been transferred. Please remember, if the payment came through instantly, it would be zero days. As soon as eBay hangs on to our money, that day of the sale is the first day eBay decided to hang onto our money and make money from it. Do you really think hours don't count as far as this holding is concerned? Therefore, it is very fair to count the first day as day number 1. It is also fair to count the last day too because eBay is still making money on the last day as well.

If eBay sent through the payment instantly, I'd be happy to say the payment took 0 days to arrive but you certainly can not afford eBay 0 days when a number of hours feature in the first day, certainly not when it starts to take hours within the first day of eBay manking money from our sale. Also, for the sake of highlighting this fact and being brief, I'm not going to calculate the hours and minutes and then turn that into whole days and parts of a day whether that unit be hours, minutes or a decimal fraction.

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I'll illustrate how ridiculous your logic is using your third claimed example:

- 3 sales on Wed 12 Aug 2020 = $272.63, notified in email Fri 14 Aug arrived 14 Aug 2020 - 3 days after sale.

If receiving payment on the 14th qualifies as waiting 3 days, then the following applies:

14th August - waiting 3 days

13th August - waiting 2 days

12th August - waiting 1 day (the day the sales occurred)

11th August - no waiting, 0 days, instant!

So using your faulty method for calculating elapsed time, if you received payment the same day as the sale, you've waited one day, and to be considered received same day, you'd actually need eBay to be paying your money the day before the purchase had even occurred.

But that's just me and my layman's understanding of how time works—maybe your double-degree studying son can consult with his uni professors in the fincance school and provide you with a proof to backup your time-compressing method?

[tazzieterror]

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@waddingtonfirstaid wrote:

Another way in which the number of days can be counted in the way I mention, when payments are not instant, is every day plays a part. Let's not fool ourselves and...

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You already have.

[waddingtonfirstaid]

Tazzieterror, the example of 3 days you pointed out is still valid as per my reckoning. Please re-read what I had to say about the time frames when counting the day of the sale and the day of the funds arrival as separate. You've missed the point I'm making about counting whole day increments. Like I said above, if a buyer pays for their item on day one and the seller takes the next day to send it, both the sale and the dispatch took 2 days to deal with. If the sale and dispatch happened within the one day, then as far as the seller and buyer are concerned, it took 1 day to accomplish. When the money comes through on a sepate day entirely, then that's a whole new day the seller and the buyer are dealing with the same sale, days prior.

When I say, "Let's not fool ourselves" it relates to how eBay cons us. If payments were instant, then I'd be happy to say a sale took less than a day and not count it but when I, or the people I am paying across all these days, have to prepare for a sale on day one, and the money doesn't appear on day 1, then that day counts. In addition to that, when I, or others I am paying, have to physically check our company's bank account on the day in which we're looking for money to arrive from the first day of the sale and also having to reconcile it, then that day counts also. All other days in between are separate days and countable.

As a seller, I'm no longer going to make things look as though the first day and the last day are not significant to count as whole days. You can let eBay fool us but I will not.

[tazzieterror]

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@waddingtonfirstaid wrote:

Tazzieterror, the example of 3 days you pointed out is still valid as per my reckoning....

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Your example is pointless because you don't know how to count. Convoluted justifications based on faulty logic does nothing to change that fundamental flaw in what you're attempting to claim.

[oz-e-seller]

Edited: Sorry wrong thread.

[*tippy*toes*]

Goodness, I was dux of the school, but never knew that 24 hours equalled 2 days. Thank you for setting that record straight! I will contact my old school immediately.