Ridiculously long ebay payment time

moonpenny

As above, I know it was a Bank holiday but sold my first item (through managed payments) on 28 May where a message came up that ebay wouldn't  be processing until today 2 June.
Just had email that they are now processing payment and may take up to 4 days!!!

Unbeleivable in this day and age that this would take so long.  If they wanted to take money owed, I bet it would be done instantly.  

Item was sent straight away and was delivered yesterday.

jon81uk

moonpenny said:

As above, I know it was a Bank holiday but sold my first item (through managed payments) on 28 May where a message came up that ebay wouldn't  be processing until today 2 June.
Just had email that they are now processing payment and may take up to 4 days!!!

Unbeleivable in this day and age that this would take so long.  If they wanted to take money owed, I bet it would be done instantly.  

Item was sent straight away and was delivered yesterday.

The payment timescales are clearly set out (How payouts work for managed payments sellers | eBay) and they stated orders paid for on the 28, 29 or 30 of May will be delayed due to the bank holiday.

The 0-4 days for your bank to accept the payment does seem to depend on your bank and many people have said the first payout from eBay is slow but subsequent payouts seem to be faster.
I opted for weekly payouts and when I have sold things it was in my bank by midday every Tuesday.

soolin

As above it sounds like a bank issue, my stuff bought over bank holiday went 'payable' yesterday but after the time they usually pay me out- as I am on a weekly payout my money won't be sent now until next Tuesday, but I had the opportunity to reschedule for a daily payout and if I had done that I would have had my money yesterday. My banks (I am currently using a FD and a Co Op account) show my payouts immediately- although strangely one of my private accounts does seem to take an hour or two whereas the other to the same account shows instantly .

Next Tuesday I will get the payout message and have the money in my account within minutes.

MR1988

I've also been moved to MP earlier last week adn while first Pay Out was not too bad, the next one took a while becaouse of Bank Holiday.

But as mentioned above, I believe it's also up to the bank you are using. eBay already messaged me to say funds were sent but the bank still doesn't have my money.

I will more than likely move to weekly payouts once I build a bit of a cussion in the new bank account I opened.

Rantband

"Available in your bank account in 0-4 working days" as stated above refers to the time it can take to appear in your account.When did the money land in your account ?

moonpenny

Money appeared in Bank Account a few hours after email so not as bad as I thought.
Think I over-reacted.   It was the 4 day thing plus Bank Holiday!

BooJewels

I've just gone to Managed Payments and had my first sale using it.  The buyer paid late Sunday evening, I got the email early this morning and the payment is now in my bank.  That's less than 72 hours, including a Sunday and BH.  I thought that was pretty decent and better than I was expecting.

I wasn't sure about the system and there are some respects in which it doesn't suit the way I have things set up (i.e. in line with long established practices), but in other ways, it's advantageous.  Like all new things, you just need to get used to them.  I may well find I like it better.  At the moment I'm pretty neutral about it, it's neither better nor worse, just different.