eBay payout question

[sjm76]

I took a break from eBay for about 6 months or so and recently started selling again. I just sold an item and it says: "The order is complete and we've made the funds available for payout." I had heard it was taking as long as 5 business days for the money to clear a seller's bank account before. Has that changed? I obviously would prefer that the money is available right away or transferred to my bank account right away like before when Paypal was the main payment method.

 

[WCTYSON]

It usually takes a couple of business days to clear on EBay and then a few to clear your bank. Yes, that’s the way transactions clear now.

 

[gt2590]

Despite my original skepticism, I like it.

For me, They usually take a day to clear eBay since they use the total for the day. Then it usually takes one business day to show up in my account. Like clockwork do far at least.

Plus I have them take the shipping label cost out of it.

Not having to take a once a month fees hit seems better to me.

I know the immediacy might hurt some, but I prefer it…

 

[sjm76]

Despite my original skepticism, I like it.

For me, They usually take a day to clear eBay since they use the total for the day. Then it usually takes one business day to show up in my account. Like clockwork do far at least.

Plus I have them take the shipping label cost out of it.

Not having to take a once a month fees hit seems better to me.

I know the immediacy might hurt some, but I prefer it…

I agree with you about the monthly fees. Not being hit with seller fees at the end of the month is a bit better and I do prefer to have them take out the fees right away.

 

[Carlos L Martinez]

You can have eBay "pay out" daily or weekly. I prefer daily because I don't want eBay to make more money from my money than they already do. If you sell upwards of $500 a day, imagine how much interest they could make from your money every week. And that's after they take their fees from you. They want a piece of every penny you make. I feel they want to make more money from your item than you. But they have the platform. You choose to use them, then pay up, haha..

 

[jszczech]

I've been thinking about selling again but I'm always skeptical about banking info. Did you guys create a separate account for your ebay transactions or just use your main one?

 

[gt2590]

I've been thinking about selling again but I'm always skeptical about banking info. Did you guys create a separate account for your ebay transactions or just use your main one?

Just been using my main Checking account. No problems so far…

 

[Carlos L Martinez]

Just been using my main Checking account. No problems so far…

Ditto! Knocking on wood...

 

[swish54_99]

I've been thinking about selling again but I'm always skeptical about banking info. Did you guys create a separate account for your ebay transactions or just use your main one?

I absolutely opened a separate account just for Ebay. No way I was giving them access to take money out of my main accounts! Part of agreeing to their TOS for MP is giving them access to withdrawal money (for your store subscription, returns, etc) from your bank account if you don't have enough funds "waiting" to be sent to your bank....um NO THANKS!

 

[Brad]

I've been thinking about selling again but I'm always skeptical about banking info. Did you guys create a separate account for your ebay transactions or just use your main one?

yes, I opened a checking account with Discover 2+ years ago strictly for cards. No fees, no balance minimums, 1 or 2% cash back with the debit card. I didn’t want to intermingle cards with personal finance, plus makes my tracking easier. Ally was the other online bank I considered.

 

[jszczech]

Thank you for your feedback everyone.

 

[jaderock]

I agree with you about the monthly fees. Not being hit with seller fees at the end of the month is a bit better and I do prefer to have them take out the fees right away.

You do understand that the "old" monthly way gave you up 50 days or so to pay it, right? (Wait till end of the month, get billed on your credit card and still have weeks to a month to pay before the due date hits. In addition, with a credit card you probably have some cash back/get points). The new way ebay gets their money/fee from you immediately. Having a monthly invoice lets you know what you are spending versus trying to figure it out yourself.
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Managed payments, is the only accepted method now, so there is no going back. But in all honestly, it was WAY better then than it is now. Ebay now holds "funds available" when a dispute arises AND buyers are awarded that money on nearly all cases. In cases where there IS NO funds available, they deduct it from your bank account.