topic Re: Managed Payments - slow bank payouts? in Selling

Managed Payments - slow bank payouts?

bbqhqnet — Sun, 09 Aug 2020 23:17:00 GMT

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

Re: Managed Payments - slow bank payouts?

curraone — Sun, 09 Aug 2020 23:22:28 GMT

For me it has been 3 sleeps between notice of payment and receipt into my bank account. Terribly slow by today's standards.

Re: Managed Payments - slow bank payouts?

rocketcds — Sun, 09 Aug 2020 23:38:04 GMT

We were moved over to MP on Wednesday night last week...Have since sold over $500 worth of items and not one cent has come into account as yet. We only received a notification this morning that $269 was paid as of this morning and that may take up to 3-4 days to come across.

Paypal for us takes 18-24 hours tops....Ebay is a now a joke! All these items saying you have access to these funds you can send the item...Really? Until i see some money hit the account sorry but buyers are going to have to wait an extra day or two now.

The fact they have been allowed to introduce this in the first place makes me wonder why we are even bothering. Once all my stock is gone in the next year or so I will be riding off into the sunset.

They are clearly making money on our money sitting there in short term finance markets. Anyone can see that!

Re: Managed Payments - slow bank payouts?

jellybirddesigns — Mon, 10 Aug 2020 00:06:33 GMT

@rocketcds - Ebay is sending the money, but each bank has it's own processing times.

My bank seems to take 3 business days once Ebay sends it, which is hardly Ebay's fault.

I think that when we first moved over to PP many, many years ago, payout were not as quick as they are now, as PP has become very well established. The new payments manager, Adyen, is an unknown for banks at this point, so perhaps there is a certain level of caution.

Not sure why you would give up what seems to be a successful shop over this, but of course, that is your choice.

Re: Managed Payments - slow bank payouts?

wide-world-of-stamps — Mon, 10 Aug 2020 00:13:09 GMT

We're obviously lucky with our bank (a smallish regional bank).

We've had 3 payments sent so far, and all credited in a similar time frame which is very similar to Paypal.

Managed payments shows payment sent just after 1am.

Email received between 2.30am and 3am.

Money credited to our bank account between 10.30am and 11am the same day.

So all banks are different - and some obviously much quicker than others.

Re: Managed Payments - slow bank payouts?

roverlordoffroadspares — Mon, 10 Aug 2020 00:15:45 GMT

Absolute Joke, had no choice was forced to impliment the ebay payment system. Previously with paypal our money was in our bank aacount the next morning. Ebay just keeps screwing sellers over and over. When a buyer doesn't wait for a cominded postage on multiple items there is no way to partially refund them excess postage on this system . It is becoming extremely frequent that buyers do this and the seller has to pay ebay fees on the whole postasge amount.

Its becoming uneconomical to use ebay , ebay takes a lot of the money out of a sellers small profit margin.

when you do have an issue it's difficult to get satisfactory as the overseas call centres are just reading off prompts snd dont realy resolve the isuues, you tend to bang your head against the wall and give up. ebay has fogotten the us sellers.

Re: Managed Payments - slow bank payouts?

tropical_scene — Mon, 10 Aug 2020 00:22:27 GMT

I was moved over to MP on Wednesday night last week also and have since sold over $800 worth of items and not one cent has come into my account as yet. Payments from PayPal I withdraw every morning and they are in my bank account by 11.00pm the same day.

I received my first notification this morning from eBay that $127 will take 3-4 business days to reach my bank account and that was my latest sale! What has happened with all my orders from 6 August? My eBay "financial Summary" is a dog's breakfast with earlier payments still marked processing and some randomly marked as payments received, but none have been received.

Payments on my website via Stripe only take 2 business days from purchase to reach my bank account and they only charge 1.9%. I think money spent on google advertising for my webiste will be far more benificial for me, than paying eBay fees and wasting so much time on eBay's constant changes.

Re: Managed Payments - slow bank payouts?

wide-world-of-stamps — Mon, 10 Aug 2020 00:25:09 GMT

@roverlordoffroadspares wrote:
Absolute Joke, had no choice was forced to impliment the ebay payment system. Previously with paypal our money was in our bank aacount the next morning. Ebay just keeps screwing sellers over and over. When a buyer doesn't wait for a cominded postage on multiple items there is no way to partially refund them excess postage on this system . It is becoming extremely frequent that buyers do this and the seller has to pay ebay fees on the whole postasge amount.
Its becoming uneconomical to use ebay , ebay takes a lot of the money out of a sellers small profit margin.
when you do have an issue it's difficult to get satisfactory as the overseas call centres are just reading off prompts snd dont realy resolve the isuues, you tend to bang your head against the wall and give up. ebay has fogotten the us sellers.

We've refunded the excess postage a few times already under managed payments - it's quite simple to do.

Just go to orders under seller hub, click on "send refund" in the drop down to the left of the transaction, and choose the reason "postage discount".

The only down side is that we had the Paypal fees refunded with the old system, and we don't now, but that was only a percentage of all fees paid anyway.

Re: Managed Payments - slow bank payouts?

roverlordoffroadspares — Mon, 10 Aug 2020 00:37:07 GMT

So now with payments not going directly into Paypal you cant use your funds to make other purchaces using your balance like previously with paypal.

Re: Managed Payments - slow bank payouts?

roverlordoffroadspares — Mon, 10 Aug 2020 00:44:18 GMT

thanks I'll check it out., when I contacted ebay chat they told me there was no way to do it unless I contacted buyer and did a diect refund via pay pal. I explained that there is nothing in Paypal account re this purchase and so cant do it. They suggested I message the buyer, I told them ebay blocks email addresses in messages under the direct contact prohibition rules.

Re: Managed Payments - slow bank payouts?

tropical_scene — Mon, 10 Aug 2020 01:31:31 GMT

The buyer's email is still in the order details for a few weeks after the order is made. In the Seller Hub go to "orders paid and posted" and then "view order details.

Re: Managed Payments - slow bank payouts?

wide-world-of-stamps — Mon, 10 Aug 2020 01:45:18 GMT

@roverlordoffroadspares wrote:
thanks I'll check it out., when I contacted ebay chat they told me there was no way to do it unless I contacted buyer and did a diect refund via pay pal. I explained that there is nothing in Paypal account re this purchase and so cant do it. They suggested I message the buyer, I told them ebay blocks email addresses in messages under the direct contact prohibition rules.

We found it by clicking on a link on our orders page "get more help with your managed payments questions", which laid it out in black and white.

Obviously the chat person hasn't yet found that page

Re: Managed Payments - slow bank payouts?

curraone — Mon, 10 Aug 2020 01:51:33 GMT

@jellybirddesigns wrote:
@rocketcds - Ebay is sending the money, but each bank has it's own processing times.

But there is a big gap in time for "processing" by ebay

For instance my sales of 6 August paid for on 6 August by buyers

Sat in "processing" until 10 August "funds sent"

And then there is my own bank processing - even if they do it overnight - so I finally get the money on 11 August

that means I have waited 5 nights for the money.

Re: Managed Payments - slow bank payouts?

shoppingbro — Mon, 10 Aug 2020 01:56:22 GMT

Hey everyone it will be good if everyone mentions what bank they are with so we can work out which bank is slow/fast.
My first payment was sent out this morning at 3am and I received into my bank account this morning at 11.30am.
I bank with ING.

Re: Managed Payments - slow bank payouts?

wide-world-of-stamps — Mon, 10 Aug 2020 02:00:29 GMT

@shoppingbro wrote:
Hey everyone it will be good if everyone mentions what bank they are with so we can work out which bank is slow/fast.
My first payment was sent out this morning at 3am and I received into my bank account this morning at 11.30am.
I bank with ING.

Ours is just a smallish regional bank (it was an even smaller credit union until last year, when the two merged).

So only people in certain areas of regional NSW would be interested - according to their website they have a total of 37 branches.

It is very quick - payment sent this morning before 2am (email received after 3am), money in our bank account at 10.45am.

Re: Managed Payments - slow bank payouts?

tropical_scene — Mon, 10 Aug 2020 02:13:24 GMT

I agree the problem is definitly eBay's processing time, not my bank. My sales 6 August were only sent by eBay this morning 2.50am, yet the payment entered my ANZ bank account by 11.00am today. It took eBay 4 days to process the payment, not good enough!!

Re: Managed Payments - slow bank payouts?

shoppingbro — Mon, 10 Aug 2020 02:20:05 GMT

Seems like there are delays with some banks especially the bigger banks.
My friend banks with Commonwealth and she still waiting for her payment which was sent out this morning at 3am.

Re: Managed Payments - slow bank payouts?

heihachi_73 — Mon, 10 Aug 2020 04:19:51 GMT

CBA tends to let payments through at ~2AM. Sometimes a payment will also go on a Saturday morning at that time (never Sundays though because banks are still living in the 1950s and apparently computers need to go to church too).

Re: Managed Payments - slow bank payouts?

shoppingbro — Mon, 10 Aug 2020 04:42:09 GMT

Really?
There seem to be a delay with CBA processing time with Ebay.
Anyone else with CBA?

Re: Managed Payments - slow bank payouts?

shoppingbro — Mon, 10 Aug 2020 05:36:15 GMT

So far the processing time for payment to appear in your bank account once it’s processed from Ebay:

ING: 12 hours
ANZ: 12 hours
BOQ: 12 hours
St George: 48 hours

I will update as more people post 🙂