Old News

"eBay Commerce Australia will hold client money in a pooled trust account with an authorized deposit-taking institution and retain all interest earned on the pooled client money account"

But in regard to the new announcement, this is good to know !!!

"While eBay balance is not covered by Australia’s Financial Claims Scheme, eBay has put a separate protection arrangement in place. A bank guarantee from JPMorgan Chase is held by security trustee GLAS for the benefit of eligible balance customers

in the event of eBay Commerce Australia’s insolvency or financial difficulty"

https://www.valueaddedresource.net/ebay-australia-balance-spendable/

OK I'll try again, I don't think eBay have thought this through very well, Sellers especially casual ones are not going to want to mess around with something like this. First the buyer protection fee, now this. It's little wonder that people are turning to eBay's unnamed competitors In droves.

Yes, like PayPal…..they make the interest, because it’s not a bank account…..just a holding cell.

Got to wait for the law to catch up, IMO

It basically is saying payout will be on demand rather than automated BUT! you can also use those funds yet to be paid out to pay for purchases you make.

Example you sell an item and have $100 cleared and ready to be paid to you. Ebay will wait for you to request it. You find something for $50 from an eBay seller and buy it, you can pay with the $100 sitting in your eBay account and then request balance to be paid to your bank account or leave it in your eBay account.

@pnc75

The major change is that sellers will be able to use any portion of their cleared funds to spend on eBay... although, as you're not on free selling, it won't apply to you.

Link has been approved

OP, I attempted to pm you the link, but system won’t allow….fgs. Will try through one of your listings….no, not allowed either…

….still pending

In the link I provided, there were issues with accessing the buttons to click on (multiple) so let’s hope they fix before rolling out here.

In UK it only affects ‘private sellers’, therefore ‘free sellers’ here.

Store holders are not affected, yet 😵‍💫

So how does it differ from Managed Payments? They already have bank details for that. Do I have to set up anything different? Apologies for all of the questions, but I'm just trying to get it right.

I shared a link 8 minutes ago, from 2024 when it was introduced in UK.

Of course, it’s ‘pending’

https://share.google/aUcDxfwbxyOTJ6co1

You can give eBay your interest, by leaving funds with them, to use at a later date, for purchases, labels etc.

Or, you can transfer to bank account on request.

I had a look (not that I still have a selling account, but I do like to try to keep up to date with what I can)

I'll be b word if I know I'm afraid