Payouts -- Weekly or Daily

[jcd931]

Hi everyone.  I recently switched over to Managed Payments and things seem to be going ok.  It takes some getting used to the payment system, but so far so good.  I'm just a small time hobby seller, so I  don't have as many concerns as the bigger players, since this is not my full time job.  One question that may have been answered (but I can't find a thread on it) is regarding weekly or daily payouts.  I see many of you are opting for weekly and I'm wondering if that's a personal preference or is there some advantage to going to weekly that I may be missing. Thanks for any and all replies.

[byto253]

A lot of people left funds in Paypa and only transferred them periodically and do not see the need for a daily transfer.  I registered for MP and am waiting for activation but once activated I will start with weekly as I prefer to have one statement to look over.   That is subject to what the experience and reality is when it is going of course!!

[ricarmic]

When my time comes I will be going with weekly. I currenly only pull $$$ out of PAYPAL a couple times a month in a normal month.

I would think one would want to avoid daily if  one has a limit on the number of "free" transactions against their bank account each month.

[intimewithmusic]

Going weekly means less book keeping. If you keep track of things you will find with MP book keeping is much more complicated. For example you can't find out the exact cost of a label for 2 days after you purchase it. EBay gives you an "estimate" at purchase but 2 days later the exact price is a few cents different. 

At first I was daily.  It seemed like the deposits were always happening on Wednesday anyway. If you go weekly the processing is done on Tuesday and reaches your bank usually on Wednesday.

Another reason for weekly is some banks offer a cheap or no fee account.  You get charged for more than 12 transactions so 1 deposit per week is better.  eBay finds lots of other reasons to take money out of your account. 

ITWM

[lucitabby]

I have it set for weekly mainly because it seems to take a few days for ebay's postage fees on shipping labels to be removed.   This way, I have money sitting there  and there is no need to withdraw shipping fees from my bank account.

[recped]

If you are doing a low volume of transactions if you are on gaily payouts you may find that eBay needs to dip into your bank account if you go in the negative because somebody opend an INR and there was no funds to put on hold. Or if you print shippin g labels on eBay you get paid for an order on Wednesday, it get included in a Payout on Thursday and on Fridasy you want to pay for a shipping label but you have no funds and have to use an alternate payment method or have eBay go to your bank account.

If you are selling a couple of items every single day then these issues won't come up very often but if your sales on on again off again it is more likely.

Definitely makes the accounting easier if you have 4 payouts per month instead of 20.