eBay

jt-libra · ‎05-03-2021

I joined on the last possible date because I still have a lot of DVD's/CD's to sell and some cosmetics. I wasn't expecting things to run like clockwork and I wasn't disappointed.

I was asked if I wanted my funds daily or weekly, so I selected daily, since I believed in eBay language, that probably meant weeky.

So I've had 7 sales since the last day in April and today the first proceeds showed up in my bank account ... one that I set up specifically for MP, eBay. I have absolutely no idea what it covered. All I saw was:

EFT Deposit from XXXXX eBay P*51 $23.95 April 29

I don't know what P*51 means

I searched the name which I x'd out and found no such name

I did not have that amount shown for that date, or any other date for that matter.

So how does this serve us? We don't know who paid us, if they paid us, and for what they may or may not have paid us.

Surely this is a joke!!!!

esclyons · ‎05-03-2021

in your seller hub, if you click on Payouts, in the payments tab, it will show you all your payouts, and the amounts..and dates, if you click on Payout ID it will show you all the items involved in the payout.

jt-libra · ‎05-03-2021

Thank you ... I get it now. I didn't often glance at my Seller Hub before since all the information I needed was either on my listing page (Paid and Shipped) or on PayPal. I see that in Seller Hub the names of the items sold are shown, but not the names of the buyers. Again, this was so easily viewed on PayPal.

Since my earlier post, I did receive two more payments. I still think, however, that this is rather cumbersome. I did learn that P*51 shows alongside every payment and what I thought was a name, which I xxx'd out, is not a name after all. It's the word "Adyen" that also shows alongside each payment, which I'm sure we will eventually learn its meaning. The reason I say that it's cumbersome is that you have to take a sheet of paper and mark down the date and amount of the payment that you see on your bank account and then go back to your seller hub to match it up the appropriate sale and, in my case, two seller hubs for two selling accounts. None of this is insurmountable but if you're a person who get 25+ sales a day or a 100, you have to do a lot of matching up, to see what is still outstanding. That doesn't apply to me, but I'm sure that large sellers will have this streamlined in no time.

I just wish that with all the changes eBay makes, there would be something in it for us ... the sellers. But there never is! I think they've stated that we will save .5% in fees by not using PayPal. My time is worth far more than a .5% saving in fees!

recped · ‎05-03-2021

P*51xxxxxx is the Payout reference number from eBay.

"Daily" means Monday to Friday, the Monday Payout will include sales from Friday, Saturday and Sunday

You x'd out the word Adyen which is the processor that handles all the back end stuff for eBay's Managed Payments.

If you review the Payments Tab in the Seller Hub you will find all the information you need, when the payouts were sent, how much they were for, what transactions are included etc. etc.

Keep in mind the raw Payout number is net of fees, inclusive of GST/HST and possibly deductions for postage purchased, refunds given, Store subscription fees etc. etc. etc.

Unless you are doing really high volume and/or desperate for quick cash you might be better off going to Weekly (Tuesday) payouts.

Also keep in mind when a buyer pays the funds will be in "processing" status for 12 - 36 hours (not including Sat/Sun) and won't be included in the Payout until it has a status of "completed". This means a sale on Monday may not be included in Tuesday's Payout, sales from Friday to Sunday sit in processing but will change to Completed early on Monday. A sale Monday morning might be completed and available for a Tuesday Payout but not 100% of the time.

Another "advantage" to weekly Payouts is that it keeps funds available in your MP account to cover things like listing/subscription fees, refunds, claims etc. If there are no funds available in your MP account eBay will debit your bank account instead. With a weekly payout there is likely to be funds there except for the brief (hopefully) period between the payout and your next sale.

It can take a bit of time to get a firm handle on the process but once you do it's all very straight forward and consistant.

"What else could I do? I had no trade so I became a peddler" - Lazarus Greenberg 1915
- answering Trolls is voluntary, my policy is not to participate.

ricarmic · ‎05-03-2021

@recped

Despite not yet being MP afflicted, I am interested to know if one can tell what oustanding money has been acquired in MP but not yet deposited after the fact. (so said another way, I need to know on the 3rd of the month how much money was in "limbo" sold in ebay but not yet deposited in my account on the last day of the previous month)

I ask because today when I do my bank balances after month end, I can see the PAYPAL balance at the end of the month (based on the last transaction to the PAYPAL account), and I know that anything that happens after 21:00 hours on the last day of the month in PAYPAL DOESNT show up for me banking wise until the next month because PAYPAL is on CT 3 hours earlier than me. I can see this at any time in the future from the PAYPAL downloads.

In MPland, will I be able to know what the "collected but not deposited" amount will be at the month end after the month end passes? I ask this because I have to add the $$$ in MP limboland to my actual bank balances to reconcile my receipts to the "cash in bank" (or in MP case "cash to be in bank later") at month end.

I plan to use weekly deposits which will make the $$$ amount significant to worry about.

kawartha-ephemera · ‎05-03-2021

The SH Payments summary page displays funds by status, on Hold, Available and Processing. Totalling the balances of each status should give you the "collected but not deposited" or "in limbo" number you'll be looking for ... maybe ...

jt-libra · ‎05-03-2021

I appreciate your time and patience @recped . I did click on Payments earlier in Seller Hub and saw what was a summary, which was not all that informative. Then I did see Payments > All Transactions and then there was a Transactions detail box beside each line item which, when clicked on, included all the relevant information. I suppose I could switch to a weekly payout but I was curious to see what the payout would look like. I transferred a fairly large sum from my PayPal account to my new bank account so there should be sufficient for fees, returns, etc.

cumos55 · ‎05-03-2021

Take a look at Payments > Reports > Invoices

and all fees and GST/HST charged by eBay on the ..... Tax invoice

My store subscription fee is now being deducted from Payments

mrdutch1001 · ‎05-04-2021

We all have a choice...it's just what choice we make and how we deal with it...since there is more to online selling than eBay and there is life beyond eBay, I made a different choice, and did not have eBay make it for me...I made MY choice......

My most recent message from eBay(the earlier message gave April 29th deadline to sign up) states "Update your account details by May 31th. "...but I care not, I am done with eBay. I have alternatives and I aim to use them. I can't be bothered with this MP **bleep**,...for the few sales I was getting on eBay, just not worth the hassle of setting up a dedicated bank account and jumping thru all those hoops. There are options in how to sell off inventory and other items I so choose to sell. I am at peace with my decision and feel no regrets about not continuing on with eBay...it's like a great relief that I don't have to accept a process that I can't work with and knowing I have choices just makes things a whole lot brighter.

Best of luck to all those who have chosen to stay with eBay. This is where it ends for me.

rehautala · ‎05-04-2021

My specific questions:

1/ I sell on eBay.com and receive funds in US dollars. There is always a small conversion fee when I pull funds from PayPal to my bank account.

Will MP convert to Canadian $ automatically as PayPal does, or will there be a problem with MP sending US$ to a Cnd$ account?

2/ I use a Savings account (no fees), not a chequing account to send my $ to. Will MP accept this? It only talks about chequing accounts (which would have more fees if I had to open a separate one).

3/ Is there an MP Processing fee each time money is sent from MP to a bank account?

Thanks for any help.

kawartha-ephemera · ‎05-04-2021

1. Proceeds from USD sales on .com are immediately converted to CAD. There is a 3% currency conversion fee baked in.

2. No, a savings account will not work with MP. There are a number of online only banks that offer free chequing accounts.

3. No.

pjcdn2005 · ‎05-04-2021

1. They will automatically convert your $US to $C before it goes into your account. The conversion fee is 3%. eBay has said that we will be able to have US funds deposited into a Canadian bank $US account however this isn't available yet and the details haven't been announced. But you can only have 1 account attached to an ebay ID....so you can't have a bank account in each currency

2, it has to be a chequing account. There are no fee chequing accounts available at some banks. Simplicity and Tangerine are a couple of them.

3. There is a .30 transaction fee just like the .30 PP fee but that is associated with the eBay sale, not with the deposit itself