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Getting paid on eBay

TheManWhoBuiltTheMoon

TheManWhoBuiltTheMoon

pfm Member
Just a quick question to ask if anyone has used the new payment method on eBay. I sold an item on Saturday and the buyer paid through eBay not PayPal. The site says is has been processed and ‘funds are available’ but where are they? They did not go into my linked account. I don’t really want eBay keeping hold of my money. Would anyone know how long it takes them to release it?
 
Interested to see the outcome on this. To me Ebay seems like it's becoming a place for sellers like us (casual enthusiasts) to avoid.
 
Just done that fees of 12.8% and 5 days to pay into bank account!

First time I've sold for a couple of years won't be rushing back.
 
Just sold my Exotik to a fellow PFM member, at the weekend, but on ebay. Haven't received the funds yet. I had to update my account with bank details, I thought I would receive the funds from paypal.
 
As soon as I saw the changes Ebay planned to introduce I decided I would not sell anything through the site. Paypal is not cheap but has proven efficient and consistent over the years, Ebay not so much.
 
You wont receive anything from PayPal as you're on eBay Managed Payments, which is supported by Ayden (same as Etsy and quite a few other places).

The sale is 'processed', which can take around 24-48 hours (Friday to Monday don't count as the weekend Ayden refuse to do transactions), so anything sold on a Thursday, early Friday, will be sent to you bank account on Tuesday/Wednesday. You will receive an email from eBay stating 'we've sent your payout'.

Thats if you have your Payouts set as 'one a day' rather than every three days or seven days.

Once the Payout is sent, its the bank then who clears the payment and deposits into your account. My banks deposit same day, so if I receive a payout at say 6am (they always come at different times of the day, and sometimes don't even come from one day to the next) my banks take anywhere from 3 hours (after 9am) to 8 hours to process it and it appears in my balance.

I've seen some people not receive payouts for months and the amount just goes missing. Or the banks take a few days to process it. It's terribly archaic and as ever with eBay customer service, half of them make stuff up, half of them don't know what they are talking about so you're only hope is getting to speak to someone in Ireland, try calling around 9am in the morning for a chance of this. When we were first put on this back in June last year, the customer service was diabolical because they had only trained Americans in it as they had been using Managed Payments for about a year longer, and the American banking and taxation system is entirely different, yet they would basically quote their system, not the UK one. It was an utter nightmare.

PayPal didn't actually receive the money for a day or so from the credit card companies, banks etc anyway, they just underwrote the amount as a perk of their service. Ayden, don't. Ayden also don't use Faster Payments, so the transfer can sometimes take a couple of days.

..and just wait till five months down the line the customer opens a chargeback with their bank/credit card company...
 
Welby said:
Just done that fees of 12.8% and 5 days to pay into bank account!

First time I've sold for a couple of years won't be rushing back.
Click to expand...

5 days!

After years of instant access to money after sale, how can they think sellers will find this acceptable?

Why, you would think they were trying to drive away the small private seller...:rolleyes:
 
VanDerGraaf said:
5 days!

After years of instant access to money after sale, how can they think sellers will find this acceptable?

Why, you would think they were trying to drive away the small private seller...:rolleyes:
Click to expand...

Because there is no competition. eBay own and control this way of selling. How many times I have had things on forums, or Gumtree (eBay owned) for weeks, months, without a sniff, put it on eBay and it's gone in a day and normally a higher price.

Sure, it will drive away some sellers, but eventually they will come back when they realise there is no other place to sell really. I believe that's what eBays logic is, and they are right.

It's only five days when a weekend is involved, for example, something I sell on a Tuesday will be deposited Thursday or Friday, however thats because my bank processes same day, some don't, elongating the time frame.

Why a weekend should matter these days is beyond me, I presume it costs more for Ayden to operate at weekends. So old fashioned.
 
Totally agree about PayPal in Ireland- they were very helpful on the two occasions I had problems. I didn't realise how lucky I had been.
 
I've not responded to the requests to update my payment details and not sure I'll bother. Frustrating that you have to wait for several days for the money - presumably you're expected to post things as soon as the buyer has paid ebay?
But as suggested already it's still a great place to move stuff on fairly quickly especially if you're willing to start at a low price and just see where it ends up. With forums or other marketplaces you can wait a long time for a buyer, and a few low-ball offers are almost a given.
 
eBay have updated to say the payment has been sent to my bank. Nothing so far. If I ever sell again I’ll be insisting on PayPal or cash on collection only.
 
They will have to fix it quickly. They will lose many customers - sellers and buyers - this way.
Including me.
 
I've been selling quite a lot on Facebook recently, it generally works a lot better than eBay for me, but it's horses for courses - the smaller/lighter and more niche the item is, the more suited to eBay it will be, and the reverse for Facebook. I do think eBay is moving ever closer to Amazon's business though, ie professional and semi-professional sellers.
 
TheManWhoBuiltTheMoon said:
If I ever sell again I’ll be insisting on PayPal or cash on collection only.
Click to expand...

I thought that was the point? You can't use Paypal any more? Cash on collection I suppose it's hard for them to police but that way you'd cut your market down to locals prepared to personally collect.

I haven't moved over to their new system (despite being bombarded by emails) and haven't sold anything since they switched. Initially my reluctance was related to not being keen to hand over my bank account details but I don't really like dealing with companies who you can't question if something goes wrong. Their invoices roll in but there is nothing I can do if I want to question something (eg I gave a refund to a punter, still had to pay the ebay fee, no way of discussing it with them and getting it refunded. I can only imagine what would happen in the event of a dispute - the little guy would be totally powerless).

I imagine people who feel there is no alternative will be compelled to 'play ball'. For me, my 'need' is not urgent, I'm just not selling my surplus items. I may try something else in future - eg a couple of people I know are impressed with Facebook marketplace (though again I guess that's mostly local purchases).
 
Average of 0 to 2 days for funds to arrive in my account when I've sold a few bits on eBay recently

I've opened a separate account with Revolut and once paid into there; it then gets transferred into my personal account with Monzo; that clears more or less immediately

Ive had a £1300 and a few £800+ transactions; ZERO issues and payments have cleared with no problems

When I used PayPal; every payment more or less was held, more so when it was over £100+... I've 230+ positive feedback, zero negative feedback and have been on ebay since 2012; yet PayPal always held the fund and I had to post first and wait for it to be delivered etc...

I'd rather use the Managed Payments via eBay; least you're kept up to speed with where the transactions up to etc
 
This is one reason why I think of pfm classifieds as the first option these days.
Hifi usually sells OK.
 
I took advantage of "80% off final selling fees" offer last weekend. 5 items sold on eBay on Sunday for just under £1900, cleared funds in account today. It's really not that bad!
 
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