eBay payment takes forever

BargainQu33n

I’ve just had to change to eBay’s new direct payment system. They hold your money for two working days which means my item sold at 3:30pm on Thursday but I won’t see a £ until, hopefully, tomorrow.  I’ve had to pay the postage and the buyer will have received the item before I’ve received payment. Not happy with this scheme 

Pollycat

There's an eBay board here (but it's probably not as busy as this one):

https://forums.moneysavingexpert.com/categories/ebay-auctions-car-boot-jumble-sales

What is this 'new direct payment system'?

I'm a private seller of my own unwanted 'bits and bobs' and I sold an item this morning at 10:15 and the buyer paid within 2 minutes.

Do you mean that I won't have access to the money for 2 days?

If so, it won't be a problem to me as I can afford the £3.20 postage.

soolin

Pollycat said:

There's an eBay board here (but it's probably not as busy as this one):

https://forums.moneysavingexpert.com/categories/ebay-auctions-car-boot-jumble-sales

What is this 'new direct payment system'?

I'm a private seller of my own unwanted 'bits and bobs' and I sold an item this morning at 10:15 and the buyer paid within 2 minutes.

Do you mean that I won't have access to the money for 2 days?

If so, it won't be a problem to me as I can afford the £3.20 postage.

The managed payment thread is here:
https://forums.moneysavingexpert.com/discussion/6217148/ebay-managed-payment#latest

Basically ebay show the payment received as 'pending' sometimes for a day or so and then release it to payable, then once a day or once a week (seller can choose) the payable amount is sent direct to the seller's nominated bank account.

I do mine weekly, and it is sent on a Tuesday and arrives in my bank instantly. 

Pollycat

Thanks for that, Soolin.

I can't recall if I've done this or not.

But I've listed a dozen things last week and this week without problems so can I assume I have?

Thanks.

soolin

Pollycat said:

Thanks for that, Soolin.

I can't recall if I've done this or not.

But I've listed a dozen things last week and this week without problems so can I assume I have?

Thanks.

Are you definitely on managed payments? If so the default payment is weekly and the payment day is Tuesday and it will hit your nominated bank account that day. 

Pollycat

soolin said:

Pollycat said:

Thanks for that, Soolin.

I can't recall if I've done this or not.

But I've listed a dozen things last week and this week without problems so can I assume I have?

Thanks.

Are you definitely on managed payments? If so the default payment is weekly and the payment day is Tuesday and it will hit your nominated bank account that day. 

I don't know.

I've checked my paypal account and the sale I made today has the credit shown there so it looks like it's not going to my bank account.

The credit is less fees.

But eBay didn't stop me listing items as per this post from the other thread:

soolin said:

As managed payments is being rolled out across all sellers now I suspect that we might start seeing threads asking about it, so thought it useful to add the basic information here:
A simple explanation though is that eBay are rolling this out through 2020 to all sellers, there will be no opt out and if you do not upload the bank details requested then you will see your account temporarily unable to add new listings until you comply. 
For many people the process is simple, just tell them your bank, and they confirm that your ebay name exactly matches your bank name - this is meant to avoid scammers or people using false names for whatever reason. However people often use slightly different names , not for nefarious reasons, just call themselves by a shorter version, Sue instead of Susan etc, and this can cause problems (although strangely not all the time) . There is also an issue around legal partnerships and businesses that has not at the time of writing this been resolved.
The costs of selling will change, for many people there will be little difference, the biggest difference is for those currently using a paypal micro account as there is no such system on Managed payments. It has bene worked out that those currently using paypal micro accounts for items less than 310 will see a fairly significant increase in costs.


https://sellercentre.ebay.co.uk/selling/managed-payments

https://tamebay.com/2020/09/ebay-seller-release-managed-payments-update.html

Maybe they've just not got round to me.

soolin

Pollycat said:

soolin said:

Pollycat said:

Thanks for that, Soolin.

I can't recall if I've done this or not.

But I've listed a dozen things last week and this week without problems so can I assume I have?

Thanks.

Are you definitely on managed payments? If so the default payment is weekly and the payment day is Tuesday and it will hit your nominated bank account that day. 

I don't know.

I've checked my paypal account and the sale I made today has the credit shown there so it looks like it's not going to my bank account.

The credit is less fees.

But eBay didn't stop me listing items as per this post from the other thread:

soolin said:

As managed payments is being rolled out across all sellers now I suspect that we might start seeing threads asking about it, so thought it useful to add the basic information here:
A simple explanation though is that eBay are rolling this out through 2020 to all sellers, there will be no opt out and if you do not upload the bank details requested then you will see your account temporarily unable to add new listings until you comply. 
For many people the process is simple, just tell them your bank, and they confirm that your ebay name exactly matches your bank name - this is meant to avoid scammers or people using false names for whatever reason. However people often use slightly different names , not for nefarious reasons, just call themselves by a shorter version, Sue instead of Susan etc, and this can cause problems (although strangely not all the time) . There is also an issue around legal partnerships and businesses that has not at the time of writing this been resolved.
The costs of selling will change, for many people there will be little difference, the biggest difference is for those currently using a paypal micro account as there is no such system on Managed payments. It has bene worked out that those currently using paypal micro accounts for items less than 310 will see a fairly significant increase in costs.


https://sellercentre.ebay.co.uk/selling/managed-payments

https://tamebay.com/2020/09/ebay-seller-release-managed-payments-update.html

Maybe they've just not got round to me.

They have barely started on private sellers so you have nothing to worry about until they contact you, and things will go on as normal. Your payments will continue to go to PayPal and eBay will send their own bill later.

when you are asked to validate your bank details, do that as soon as you can as there are occasional hitches. Once your bank details are set up you then just wait for the eBay warning you are about to be switched, and it is at that point the new system kicks in. 

If you have not been told you are going to managed payments then you don’t need to worry about not being able to list, that only applies to people who have been switched but have failed to provide bank details. Even from my post that’s quoted there has been slippage, I *think* that most business sellers have now been switched but they have only just started on private sellers , my own private accounts have not yet been switched. 

[Deleted User]

I’m a private seller, was switched a few months back, no issues at all. 

swingaloo2

In a private seller, only switched 2 weeks ago and been paid (Tuesday's) no issues at all.  I quite like it.

jon81uk

BargainQu33n said:

I’ve just had to change to eBay’s new direct payment system. They hold your money for two working days which means my item sold at 3:30pm on Thursday but I won’t see a £ until, hopefully, tomorrow.  I’ve had to pay the postage and the buyer will have received the item before I’ve received payment. Not happy with this scheme 

What did you do in regards to paying postage with the old PayPal system? Its only in the last few years that PayPal payments cleared straight into bank accounts, it used to take a few days for PayPal to move the money to bank accounts.

But I've never waited to get the money to then pay for the postage (well not since the days before PayPal of posting cheques to pay for items!), I've always assumed its safe to send once it is in PayPal, so I will be the same with eBay payments, once it is paid for I will post it, no need to wait for it to come to my bank.

ThumbRemote

jon81uk said:

BargainQu33n said:

I’ve just had to change to eBay’s new direct payment system. They hold your money for two working days which means my item sold at 3:30pm on Thursday but I won’t see a £ until, hopefully, tomorrow.  I’ve had to pay the postage and the buyer will have received the item before I’ve received payment. Not happy with this scheme 

What did you do in regards to paying postage with the old PayPal system? Its only in the last few years that PayPal payments cleared straight into bank accounts, it used to take a few days for PayPal to move the money to bank accounts.

But I've never waited to get the money to then pay for the postage (well not since the days before PayPal of posting cheques to pay for items!), I've always assumed its safe to send once it is in PayPal, so I will be the same with eBay payments, once it is paid for I will post it, no need to wait for it to come to my bank.

Within Ebay you can pay for postage using Paypal, so it uses the Paypal credit you've just received.