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

[Anonymous]

This is a very long thread but for what it is worth, my fist experience with MP (as a sporadic small time seller).

Sold an item last week on Thursday 10th June, payment received by eBay from the buyer the same day. I paid for the shipping label and posted the item that afternoon.

Payout was shown as processing with payout due on Monday 14th June (although my payouts are set to daily?)....then on Mon 14th it showed as processed and available (meaning eBay has sent it to my Bank).

It is now the morning of the 15th of June and no payment showing in my bank account yet, although eBay does say that it will take 1-3 days to show up once they send it.

So based on that, 5 calendar days and counting. The buyer may even get their item before I get paid !!

Well at least it stops me compulsively buying something else on eBay, as when the sale funds were immediately available in PayPal......I might just use the money to pay some bills instead 🙂

[rbm_pro_au]

To add to others grumbles, agreed that very slow processing of payment now eBay has mandated Managed Payments (albeit with credit card options for buyer) over PayPal. Typically in past received balance into nominated account in 24 hours if week day transaction. Now looks like 5 days!

Another big grumble is that eBay Managed Payment fee structure means eBay takes bigger slice than the old eBay and PayPal fees. Profit from a sale is down.

Not a happy customer!

[southern_cross_memorabilia_4u]

I was asked by eBay to fill out a survey some months ago to see how I wanted the managed payments to proceed. Choices were if I wanted the payout with in the day there was a % fee, if I wanted the payout within two days there was a smaller % fee or if I could wait two to three days there was no charge. I chose the later as I think we pay enough in fees.

[enchilata]

Paypal was instant and now I have to wait up to 5 days!!!!!!!!!!!!!!!!!!

[ikersh]

Yes, this new system is a thumbs down as far as I can see. I have been waiting for 3 days so far for a small amount to hit my account. If there is a weekend purchase then it seems to take even longer. Not fair to customer nor seller.

With PayPal the customer would have already had their item. Surely there has to be a better way to handle this. 

I have been on the ebay Chat and they now have to escalate this issue even further so the customer has to wait even longer now. 

[lezned-toycollector]

Why does the customer have to wait? Did you not get a payment confirmation?

Given that you advertise a handling time of 2 days, you need to ship within 2 days. As in, the buyer pays, you get confirmation of payment and an email from eBay telling you to ship the item, then you do so within 2 days as you have advertised.

Making the buyer wait is not only very ordinary behaviour, and in breach of your own terms, but it's just a downright ludicrous thing to do.

I'd be very surprised if you don't earn yourself a fully deserved red dot for such efforts.

[the-collector-bull]

Whenever I withdrew from Paypal, the money would be in my account within a few hours. It now takes 3-5 days to receive payment from eBay. It's a blatant attempt to profit from holding our funds. Worldwide they would be holding well over $100 Million in funds at any one time. I'm assuming they make some decent money from the interest on that.

[repentatleisure1952]

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@the-collector-bull wrote:

Whenever I withdrew from Paypal, the money would be in my account within a few hours. It now takes 3-5 days to receive payment from eBay. It's a blatant attempt to profit from holding our funds. Worldwide they would be holding well over $100 Million in funds at any one time. I'm assuming they make some decent money from the interest on that.

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Your assumption would be incorrect... eBay do not have the funds to hold or earn interest.'

[sandypebbles]

Could you provide a reputable link for this information please?

Or is it just an opinion you are sharing as if it were fact?

[billexploited]

eBay should scrap Manage Payments it's  not working for sellers, hence I moved my store to another website.