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Ebay’s New Payment Routine


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1 hour ago, cardia10 said:

I'm not sure what everyone else is seeing, but I just got money dumped to my account from Ebay and the shoes are sitting in my car waiting to be shipped today. I don't pre buy the shipping so I'm 100% getting my money before I'm shipping unless it falls on an odd weekend or holiday. 

 

How quickly are you shipping after the end of the auction/sale? Just out of curiosity. I think you're right in hinting that it doesn't have to do with shipping at all. Just curious if they sat on your money for 2-3 days.

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Hey guys- former CPA here.  I’m sure there are plenty of CPAs on WRX so surprised no one has chimed in. Obvious standard disclaimer that none of this should be construed as tax advice and the facts an

It may force me to be done selling big ticket items on eBay. Been around over 18 years buying and selling there , but with fees getting higher and higher and now the drawn out process of a direct depo

my wife and I have $750 a month each to use however we want, no questions asked. If she starts seeing how much I'm spending on eBay then I'll need to raise hers to $2000 as well!!!!

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31 minutes ago, gunmetal said:

 

How quickly are you shipping after the end of the auction/sale? Just out of curiosity. I think you're right in hinting that it doesn't have to do with shipping at all. Just curious if they sat on your money for 2-3 days.

I usually ship within 2-3 days. Had some shoes sell 11:00 Thursday night. Got the money to m the account yesterday and I’m shipping today. Usually try to ship sooner, but had a scramble yesterday. 

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9 hours ago, bladehunter said:

Missed the point.  The point is not hiding anything. 
 

 was simply saying that it’s healthy for a husband and wife to have their own spending  money independent of the others . It’s not hiding. It’s just no permission needed.  And don’t try to tell me you have a wife who won’t complain about your ordering a $3k putter from  the household checking account.  That chick doesn’t exist.😂. But I digress.  ( and no $3k putters aren’t the point. So don’t get sidetracked ) 

 

the point is , when you swipe a card it enters into a batch for that day.  At the end of the day that terminal reconciles and with the merchant bank and the funds are transferred into the account thats attached to the merchant account.  It’s there the next morning.  Every time.  So eBay  has real funds in hand the next morning at the latest.  
 

In this instance you have eBay either acting as the  merchant bank  processing the cards or they’re a middle man using an outside merchant bank . instead of transferring it directly to the sellers account.  They’re holding the funds for 2 days .  There’s no reason to do this except to make more $.  It’s not a “ wait for funds to clear “ issue. There is no waiting.  
 

At any rate , I cannot see why anyone needs to act like Wanting their funds ASAP is some sign of poor $ handling skills.  Maybe I’m not independently wealthy and  cant see this ? Lol.   And no.  It’s not a communication issue. Hell. You can mail the funds and get it there faster than 2 days.  Come on. You know that this isn’t a “ my software won’t talk to yours “ issue.  If that were true they’d make you wait 2 days to take your groceries home from Whole Foods if you used a card.  Why ? Because they’d need to wait to see if the funds appeared.  But they don’t because its that fast.  

 

I guess your "The wife watches the back pocket. She doesn’t  know about the front pockets accounting because their isn’t anything" fooled me into thinking about someone hiding funds.

 

I believe most people buying on eBay use Paypal; at least everyone that's bought from me has.

 

I don't know about the synergy between PP and eBay so I can't answer for how quickly the $$$ gets from one to the other or how they reconcile their daily finances.

 

But I DO know something about how computers talk to one another. And they mostly all do it differently.

 

And if someone's whining about not getting a relatively small amount of $$$ quickly enough it is a totally logical assumption that they need it because the need the money - for something; i.e. they don't have other funds available to them. THAT indicates they aren't handling their $$$ very well.

 

Now that MAY not be the case but it IS a totally logical assumption.

 

a----> b----> c

 

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3 hours ago, cardia10 said:

I usually ship within 2-3 days. Had some shoes sell 11:00 Thursday night. Got the money to m the account yesterday and I’m shipping today. Usually try to ship sooner, but had a scramble yesterday. 

 

Yeah that's pretty crazy to me. Friday, Saturday, and Sunday go by and you get the money Monday? Not loving that.

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5 hours ago, dcmidnight said:

Obviously other's mileage may and is varying. But my brief experience has been that it still takes me basically the same exact amount of time to get money from Ebay as it does from when someone pays me in Paypal and I then do a separate WD into my checking account.

With regards to getting the money to a bank account, agree that new method is faster vs paypal transfer (using the free option)

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2 hours ago, nsxguy said:

 

I guess your "The wife watches the back pocket. She doesn’t  know about the front pockets accounting because their isn’t anything" fooled me into thinking about someone hiding funds.

 

I believe most people buying on eBay use Paypal; at least everyone that's bought from me has.

 

I don't know about the synergy between PP and eBay so I can't answer for how quickly the $$$ gets from one to the other or how they reconcile their daily finances.

 

But I DO know something about how computers talk to one another. And they mostly all do it differently.

 

And if someone's whining about not getting a relatively small amount of $$$ quickly enough it is a totally logical assumption that they need it because the need the money - for something; i.e. they don't have other funds available to them. THAT indicates they aren't handling their $$$ very well.

 

Now that MAY not be the case but it IS a totally logical assumption.

 

a----> b----> c

 

Lol.  I don’t know man. I think people are just different.  If I provide a service I want my money then. Not later.    Pals being the only exclusion to that.  I give away as much as I get.  
 

“ principalities involved man !  Playing  with my money is like playing with my emotions”! 

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52 minutes ago, bladehunter said:

Lol.  I don’t know man. I think people are just different.  If I provide a service I want my money then. Not later.    Pals being the only exclusion to that.  I give away as much as I get.  
 

“ principalities involved man !  Playing  with my money is like playing with my emotions”! 

 

No worries. Of course we're all different.

 

You may recall, in the olden days, when one deposited a check (Check ? What's that ? LOL) one needed to wait between 2 and 5 days for the funds to be available depending on how far away the banks were.

 

Nowadays it's considerably faster but not instantaneously.

 

You have a business and a merchant account. I expect those contracts between the banks, the exchange systems and the merchants have all sorts of ifs, buts and thens in them. And due to the agreement no doubt you get your funds asap. I'm confident you signed something that covers "charge backs". :classic_wink:

 

But private citizens don't have those same agreements and as quickly as things happen now it's still not instantaneous.

 

Just yesterday I paid my credit card from my checking account. Today, 24 hours later, my checking account shows the payment as "pending". The credit card doesn't show anything.

 

Why should that be ? No "holds" on any deposited checks to worry about. The accumulated times of the various transactions is from 2-25 seconds or so depending on the network's traffic.

 

It is what it is,,,,,,,,,,,,,,, Dunno1.gif

 

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52 minutes ago, cardia10 said:

For millions of people to see my ads and not lowball me like here, I’ll wait a few days for my money. 

MEh.  By the time you pay the fees and factor in the waiting , it’s a wash as far as $.  Never understood the lowball deal  anyway.  All you have to do is say “ no thanks “.  If they come back with more nonsense. Ignore.  
 

Like I said. Folks are just different which is why both exist.  No worries on my end. 

Edited by bladehunter

 

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7 hours ago, cardia10 said:

For millions of people to see my ads and not lowball me like here, I’ll wait a few days for my money. 

 

Plus 99.9% of people that are shopping for golf stuff in this country aren't doing it on the BST.

 

Agree that its a wash moneywise however. 

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21 minutes ago, dcmidnight said:

 

Plus 99.9% of people that are shopping for golf stuff in this country aren't doing it on the BST.

 

Agree that its a wash moneywise however. 

I’ve been getting offers for 50% off here. I price things below the latest eBay sales or less in most cases. You don’t have to offer the “friends” discount there either. That feel left here a few years ago sadly. 

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As annoying as the new eBay payments thing sounded at first, I've adapted and don't really think about the change anymore.  Now my play money sits in a Capital One checking account instead of PayPal.  In either case, I don't withdraw any money from sales until a few days after the buyer receives the item, no matter where I sell or what payment method used in case of returns.

 

But I still like using both eBay and BST.  I like selling clubs here on the BST.  I like selling everything else on eBay, and I get way more on eBay than on here for most things.  Plus, I can list a bunch of items on eBay and not worry about them again until they sell whether it's a day or a year.  On here, it's a bit more maintenance.

 

And eBay has always wanted to be the payment processor, but when eBay and PayPal split, eBay had to keep PayPal as the primary payment processor for a set number of years.  Once that agreement expired, eBay took over.

 

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