eBay holding sellers money- yes, it is appalling- bring back the old ebay

[sorpha]

I was an early eBay adopter. After much experience as an ordinary seller, I stopped and returned many years later to find eBay is a different product. I sold an item (after a steep learning curve to the new rules), only to find my money was kept on hold by eBay for 8 days. It was only released after I investigated using the chat line. Yes, the item I sold was received by the buyer soon after. Yes, there was tracking that confirmed this. And my money plus millions of others, was held by eBay earning them millions of dollars in interest alone. This corporation makes money by not releasing my money (any excuse not to, and in my case, for spurious reasons). The wonderful overseas call worker who helped me with my query was probably paid a pittance. This is a very ugly business model indeed. What eBay has lost in customers (and no doubt many), it makes up in unscrupulous practices. The international community should investigate eBay. 

[repentatleisure1952]

 And my money plus millions of others, was held by eBay earning them millions of dollars in interest alone.

And you know this how?

 The international community should investigate eBay. 

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Don't let fear hold you back.

Funds have been held for new/infrequent sellers since 2013.

https://www.ebay.com.au/help/selling/getting-paid/getting-paid-items-youve-sold/payments-hold?id=481...

[sandypebbles]

And you don't believe the policy you agreed to and that has applied to every single new seller and infrequent seller should apply to you why?

The 'old eBay' is not coming back

There is nothing to investigate

The question is, why were your funds only on hold for 8 days?

The usual hold is 30

You got your funds almost 3 weeks earlier than you should have yet still complain

No need to investigate using the chat line

You ticked the box you had read and understood/agreed to

It does not matter when you joined, nor how much you sold years ago

The policy you agreed to does apply to you

[sorpha]

And what is there to investigate? And why is the median(?) or average hold duration a massive 30 days as if this is an acceptable standard? It is not an acceptable standard. As for the conditions, all were met as I explained. So, what is the reason for the hold? It is this unscrupulous corporate behaviour that appears to be acceptable to users that encourages even more unscrupulous behaviour. Consumers and merchants should not find this acceptable, and maybe then, they wouldn’t be easily manipulated. 

[imastawka]

Read this link for info -

Payments on hold | eBay

[countessalmirena]

eBay’s MBG (a voluntary guarantee offered by them) covers buyers for items not as described and items not received. eBay reimburses buyers where the conditions are met, and obviously will then retrieve the refunded money from the seller as appropriate.

 New sellers, sellers who suddenly start selling after a dormant period, sellers whose selling behaviour has changed, sellers suddenly selling expensive items… these are some of the sellers who present a higher risk. Scammers are adept at moving funds very quickly so that it can’t be retrieved – overseas, into bitcoin, into untraceable accounts and so on. A 30-day hold on funds for those higher risk sellers is not unreasonable in these circumstances.

The risks will only get worse as criminals increasingly use AI to tweak their way past current risk mitigation measures.

If your payout was on hold for merely 8 days, you are one of the luckier “new” sellers. Once you’ve established a regular pattern of selling, and you’re no longer classed as “new”, you should find that disbursement of funds becomes reliable and without delay. Have you specified your desired schedule of payments for once it all settles down?

It may be frustrating at the moment, but I strongly suggest reading the help pages about selling in the meantime. As you’ve said, many things have changed in eBay and it pays to get out in front of issues.

Hopefully it won’t take too long before this phase is over.

[lezned-toycollector]

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@sorpha wrote:

And what is there to investigate? And why is the median(?) or average hold duration a massive 30 days as if this is an acceptable standard? It is not an acceptable standard. 

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Ah, but you confirmed that it is acceptable. You did this by listing your item on eBay. It's a little ironic that your admission of the hold which you are complaining about is proof in itself that you actually agreed to the hold - go figure 😂

You don't get to acknowledge your agreement with eBay policies and then say later that you didn't agree in the first place.

If you don't agree with the policies, then you shouldn't be selling on eBay - it doesn't take a rocket surgeon to work that much out 😜

[davewil1964]

Sell more more regularly. Simple.

I don't have holds because I have regular sales.

[sandypebbles]

Again, you agreed to it

It is very very clearly stated in the terms you agreed to

Other members do not make the policies, but when we choose to sell, they do apply 

So actually read the policy you agreed to for why

[springyzone]

I was like you, my sister & I sold quite a lot a couple of decades ago (not on this account) and it was brilliant from the seller point of view, you were in total control. 

But for buyers, there was a bit of risk attached to it, wasn't there!

Maybe the seller would just keep your money and not send the goods, maybe you'd have to wait weeks before anything arrived.

I got stung a couple of times and lost money as a buyer. It turns you off as a customer.

Let's face it, people bought off ebay from 2000-2005 because there was nowhere else much online to buy from. These days, most big shops have an online site as well. Consumers are spoilt for choice.

Ebay had to up their game so now they have the 30 day money back guarantee.

A guarantee that a customer will receive their goods and the goods will be exactly as described.

Quite regularly, ebay has to pay out on it.

That's why there is a 30 day hold on the money of new or infrequent sellers.

You will eventually get your money, it is not as if ebay will keep it forever.

And I have read a few times before on these boards that ebay does not earn interest on the money.

Maybe some financial institution does, I don't know, but it didn't sound as if it was ebay.