Managed Payments

[jennur_10]

Well I have to say I'm really not impressed with the new managed payments. Why does it take 3 days to deposit into my bank? It says daily deposits but payments from Monday wont be processed until tommorrow and the rest are held till whenevr the next ebay deposit day is. How does everyone else feel about managed payments?

[easoss]

How I feel about is rather irrelevant because this is the way it's going to be. Paypal took a couple of days for money to be deposited into a bank account. It is a bit different but not really a hassle. I'm starting with daily deposits just to get a feel for the system and how long it does take to reach my bank and eventually go to weekly. It feels more like recieving a paycheque for your work now. For me, so far so good.

And if you don't like managed payments you only have one option and some have chosen that.

[t_bjarnason]

eBay does not willingly withhold money (unless you're a new seller or have an open case as per their policy). I've even seen posts where people honestly believe eBay holds the money to make 3 day's interest off of it and that's completly obsurd! 

The delay, both from getting the money from the buyer to eBay and eBay to you, is completely in the bank and financial institutions hands. They have checks and balances that need to happen, and they take time. It's those same checks and balances that allow Canadian's one of the most secure and healthy financial systems in the world. 

The time it takes depends on your bank. For me personally, orders are processed and cleared  by the next business day after the sale, eBay sends the payout the morning after that and it's in my account by that evening.  

eBay has its reasons for going the chequing account route, much of it having to do with security and payment integrity through their payment processor Adyen. 

[marnotom!]

The Canadian Bankers' Association would be the best party to ask why it generally takes two to five business days for a bank receiving a transfer to clear it.  It's likely going through the same process that a cheque does.

[esclyons]

It can also depend on your receiving bank, once my payments are cleared, i receive the funds the same day they are sent..

[mayfairsuperdog]

And to add....

Why am I charged a fee when a customer asks to cancel an order. I have to refund the entire balance, but ebay still charges a 30 cents (plus tax) servicing fee? This is not my issue, This is good customer relations based on EBAY's policy. Flat out theft if you ask me! It's only 30 cents you say? The internal policies are nickel, diming and thirty centing me at every turn, every sale, every shipment and now every NON shipment. 

[mayfairsuperdog]

it sucks period. There is a definite willful delay. The processing time is deliberate and sad. I see others defending it. LOL. Paypal was far superior and had user control. Now it's just ebay's **bleep**ty way or the highway.

[matts0421]

You are lucky to be getting your money. 

I have 16 payouts that ebay owes me since end of May, and not ONE has been deposited in my chequings account. I am in Canada with the CIBC. I have updated and validated the same chequings account, transit and institution number over and over and over again. This has been going on for 2 months. Not one single deposit for the entire summer. I am on the verge of a nervous breakdown.

[byto253]

That is verging on, or is, legally incorrect and actionable in small claims court. Keep transcripts and notes off all you calls and messages, outside of Ebay's system, if you are not. Legally you are waaay on the correct side. This is Ebay's system and requirements and the onus is on them when you meet their mandated requirements.