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

[tibolts01]

I rang eBay this morning and was told that it is a known issue at their end and that they're working on it. This was my first payment and it was declined. Wonder what eBay would do if I had a "technical glitch" and wasn't able to send my sales for a day? Not happy!

[rocketcds]

They are quick to take their fees for the month....as it was....not so fst when they have to PAY us!!! Disgraceful business model.

[bbqhqnet]

Correct - I am still awaiting notification of my weekend's amount be sent by eBay - and it's Tuesday? What's the point of selecting Daily - if they're going to stick to "snail transfers" regardless?

Steve

[bbqhqnet]

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@wide-world-of-stamps wrote:
We're obviously lucky with our bank (a smallish regional bank).

I am not - and mine's a small regional Credit Union. But the issue is that eBay appear to be holding the funds in their accoounts as long as possible - perhaps in order to reduce their debts, or else to gain whatever interest rates actually exist these days?

Let's face it though - the consumer is always the loser in these sitautions. When I use my Credit Card, funds are immediately added to my debt - but when I make a payment TO them - it takes ages?

Funds, and us are being manipulated - for the gain of the bigger fish in the pool!

[bbqhqnet]

AGREED!

[bbqhqnet]

>>>They are clearly making money on our money sitting there in short term finance market.

Yep!

I think it was Peter Garrett that said: The rich get richer - and the poor GET the picture".

[lm-entertainment]

i'm with CBA. got the payout email from ebay at 7:00am this morning AWST and money was in my account before 11:00am. impressed with that turn-around.

unfortunate to hear so many others are getting declined or having other issues. 

[davewil1964]

It never fails to amaze me how people with no mathematical skills can run apparently successful businesses.

Let's (for the sake of simplicity) assume that eBay/Adyen (and we don't know who is really responsible) can get 3.65% per annum interest on the short term money market. That's 0.01% per day.

Which is $100 for every $1,000,000 per day they hold. And ignores the fact that they could well lose more than that on currency conversions/fluctuations when the money is socked into eBay's Swiss bank account. 0.01% would be minutely fluctuations. Would they really be likely to alienate sellers for that sort of maybe money? Surely you don't think they're that desperate?

Occam's razor.

[jellybirddesigns]

I've found that now that I'm in the second week of rolling payments, things were a lot smoother.

The first time it took 3 business days,  but now it was less than 12 hours from notification to being in my account at Westpac.

[Anonymous]

I am about to start tomorrow but something isn't quite clear.

Buyer pays for purchase.

Ebay removes fees and sends your end to your bank.

How is postage paid for ?

As you only receive the nett amount due how can you account for the fees taken.

I guess you only need to keep a tax record of the amount you receive.

The ATO won't know how much ebay is making.