Ebay to hold onto funds and earn interest on our money!

GadgetGuru

Bear in mind if you do let money sit to tot up, eBay do automatically withdraw fund every 3 months, so you can't let it sit there for 6 months building up.......

From their email:

"With the arrival of eBay balance, we’re also changing how payouts work. The following changes will take effect after a final scheduled payout on 16 October 2024:

- Daily, weekly, bi-weekly, and monthly payout schedules will no longer be offered.

- You can withdraw available funds from your balance on demand.

- If you don’t use or withdraw your balance, we’ll automatically send your available funds to your bank account on the first Tuesday of every January, April, July and October."

RedImp_2

Can I just say so far this hasn’t happened to me.  Most recently some auctions finished yesterday, the money is in my account this morning and I haven’t requested anything.  Maybe just a glitch so far.

kalsha

RedImp_2 said:

Can I just say so far this hasn’t happened to me.  Most recently some auctions finished yesterday, the money is in my account this morning and I haven’t requested anything.  Maybe just a glitch so far.

Because it starts from 16th October.

soolin

RedImp_2 said:

Can I just say so far this hasn’t happened to me.  Most recently some auctions finished yesterday, the money is in my account this morning and I haven’t requested anything.  Maybe just a glitch so far.

kalsha said:

RedImp_2 said:

Can I just say so far this hasn’t happened to me.  Most recently some auctions finished yesterday, the money is in my account this morning and I haven’t requested anything.  Maybe just a glitch so far.

Because it starts from 16th October.

The money showing as available isn’t changing, it’s the withdrawal that is.

At the moment the money hits your account at point of sale and sits there until the Tuesday following (or whatever payment schedule you have set up) then is sent to your bank account. All the will happen from the 16th is that the money will show as available but will sit there until you click to withdraw it. You can still withdraw every day or every week, it just won’t be sent automatically every Tuesday now. 

RedImp_2

kalsha said:

RedImp_2 said:

Can I just say so far this hasn’t happened to me.  Most recently some auctions finished yesterday, the money is in my account this morning and I haven’t requested anything.  Maybe just a glitch so far.

Because it starts from 16th October.

That’ll be it then!

soolin

RedImp_2 said:

kalsha said:

RedImp_2 said:

Can I just say so far this hasn’t happened to me.  Most recently some auctions finished yesterday, the money is in my account this morning and I haven’t requested anything.  Maybe just a glitch so far.

Because it starts from 16th October.

That’ll be it then!

There still won't be any difference to where you see the money even after 16th October. The only difference is that it won't be paid out automatically every Tuesday.

BlueonBlue

When buying on ebay with a positive balance can you still pay for a purchase with your credit card for cashback reasons?
I assume you just withdraw the positive balance before your next purchase ?

pfpf

i like that i'm going to be able to pay for postage via my ebay balance. i do however have an account only for buying and one only for selling so not going to help from that POV.

vacheron

BlueonBlue said:

When buying on ebay with a positive balance can you still pay for a purchase with your credit card for cashback reasons?
I assume you just withdraw the positive balance before your next purchase ?

From what I've read it sounds like they give you the option to use your funds at checkout. A bit like Amazon do if you have a gift card balance. Not sure if it will automatically default to one option though. 

Spoonie_Turtle

vacheron said:

BlueonBlue said:

When buying on ebay with a positive balance can you still pay for a purchase with your credit card for cashback reasons?
I assume you just withdraw the positive balance before your next purchase ?

From what I've read it sounds like they give you the option to use your funds at checkout. A bit like Amazon do if you have a gift card balance. Not sure if it will automatically default to one option though. 

It already gives different options and defaults to one, like it did when they were linked to PayPal.  I would hope they still give the option to choose which method is the default though.