eBay - PayPal 2021 payment changes

[A-team]

What a scam! eBay are dumping PayPal as their preferred payment method and eventually dumping them. What have they offered in return? eBay payments managed by eBay, keeping it all in-house under the premise of lower fees and better control. Well my first experience is this PayPal, you could use the money immediately, and if you withdrew it, was around 3-5 days and cost a dollar for withdrawals under $100.

eBay on the other hand, hold your money in limbo while claiming to have sales deposited directly into your account. Yeah, but not immediately, actually, whenever they wish to release it from "processing" status - then you are required to delegate whether you would like to receive your money daily or weekly? eBay is an outright scam and I can only wish they get nudged out of their niche by a company with better business ethics and some sort of financial morals.

It may have only been a day, but I still am waiting for eBay to give me what is already mine! In case you are unaware of these financial institution scams, the longer they hold your money, the more interest they are making - they have deals with banks and compounding interest paid "daily", hold your money for an extra day times the other millions of users = more money for them and none for PayPal.

A strange situation for when you Google PayPal and eBay ownership it returns:

Established in 1998 as Confinity, PayPal had its initial public offering in 2002. It became a wholly owned subsidiary of eBay later that year, valued at $1.5 billion. In 2015, eBay spun off PayPal to eBay's shareholders.

and then...

Pierre Omidyar founded online auction firm eBay in 1995 and now serves on the company's board. In 2002 eBay bought online payment company PayPal and spun it off in 2014. Omidyar currently owns 5% of eBay and 6% of Paypal.

Though PayPal is moving more into the financial world as a major player and moving away from the retail game as new options become more prevalent. All the more typical in our modern world where the rich indeed keep getting richer and determine the wealth of those financially below them...

 

[Wishfull]

I used to sell stuff on Ebay but they charge too much now. and if they ditch PayPal I will ditch them. been using Ebay since about 2006.
Getting ridiculous.

 

[Mike678]

Been using Facebook Market place . Don't like Gumtree too much , too many adverts .

 

[RM Outback]

Was bound to happen, it's the fundamental financial operation used by every large business, corporation, governments and financial institutions. And it ain't gunna change more so it'll get worse IE: you're funds won't be available for 5 business days instead of 3.

I don't buy from ebay and very rarely buy online I don't have a PayPal account and don't intend to. Am I missing out, the answer is no. I'm happy searching anything I like the look of and going to get it myself.

 

[Jaros]

It is a cruel world in many ways.

 

[A-team]

Checked account again;

Processing

13-March: The buyer has paid for this order and we're processing the payment.
When processing is complete, the funds will be available for payout.

So they are telling me the buyer has paid me and I am to send them the item though they are not giving me my money yet??? I think all the comments above are valid - where other options are available, think I will be using them and ditching eBay....absolutely ridiculous! I think they were hoping people would not notice?

 

[A-team]

UPDATE: Guess what? This morning the money had finished being classed as processing, but still unavailable. It said I was due for a payment on the 15th (today). This evening the money is still not in my account and says I am due for a payment on the 16th (tomorrow). This is a total scam and stupid idea that eBay has implemented. When selling on eBay, DO NOT update your payment settings when it asks otherwise you will find yourself in this position. Eventually, you won't have a choice anyway. I can't send my customer the item they have already paid for on Saturday - until eBay release the money to me......I think a clown designed this new system. :|

 

[Pirate pete]

I tried Paypal for an order going to the states guy paid straight away took 21 days to hit my account ,so I said stuff them set up a bank account with the international BSB Number on the invoice and all my sales are direct deposit ,been like that for 3 years now never had a Problem ,I get an order send the invoice they deposit the payment, email the receipt, and its in the bank the next day at the latest ,no fees no BS .PP

 

[A-team]

Hi, this is what I am dealing with: just got this message today. I still can't access my money and have no reassurance it will even arrive. For this reason, and the fact this is my first transaction with the new system, I will be waiting to see the money before I send anything. Who knows "where" my money is right now - they have sent mixed messages and had delays already. Right now, eBay sucks - I won't be selling on there any more and will remove my last coil from there later today and sell it on a platform that works.

Your payout is on the way

AU $XXX sent on 16 Mar, 2021

Payout ID: XXXXXXXXXX
Hi Adam,

We sent your payout of AU $XXX on 16 Mar, 2021 to your bank account ending in XXXX. It will take 3-4 business days to reach your bank account. For more details, please visit the selling section of My eBay.

https://www.ebay.com.au/help/selling/getting-paid/introducing-managed-payments-ebay?id=4795

Once you change or update as requested, there's no going back. Yes, it will take some getting use to and need to build confidence as a reliable payment system, though I feel this is just adding to eBay's negative financial aspects imposed on sellers and don't see it getting better or cheaper. As many new platforms become available to sell on, I - as many others are doing, will move away from selling anything on eBay.

Even eBay's own community forum is alive with posts over this issue.

 

[Goldtarget]

They will only have themselves to blame when sellers leave in droves. Already seeing the writing on the wall before this and took the oppotunity to redirect sales through a private page supported by social media.

In theory FB sales should be unworkable, sellers and buyers are complete strangers, the feedback system is flawed, and transactions are usually settled in cash or direct deposit where the element of risk is at its highest, yet in 99% of my dealings there the process has been successful whether purchasing or selling.

And the overheads are almost zero, the cost of business is an internet connection, which has allowed free shipping cost to be easily absorbed.

Tags, instant messaging all play a part in gaining more exposure and tailored sales, sales that couldnt be completed 2 or 3 years ago. Ebay just havent got the mail yet, but they will.

 

[Moneybox]

My sales to date.....

I'm not accepting the change from PayPal. :argh:

 

[nicko61]

Ive been a member since nearly the beginning and have like millions of others in the last few years slowed down a lot on my sales due to Paypal and Ebays taking sellers protections away and almost making it a place the buyer can hold you to ransome and all this time raising sellers fees from 2.5% to now around 10% ,im unsure of what your saying about paypal as im fairly certain Ebay brought Paypal several years ago around the time ebay started turning into a rip off for sellers with almost no protection from some buyers who scam the system,,, by the way those sales figures are since 2003 , but i was a member for a few years under another name

 

[A-team]

Top Takeaway

With managed payments, you can sell and get paid in one place. Buyers can pay with credit or debit cards, PayPal, Afterpay, Apple Pay and Google Pay, all while being protected by eBay.

https://www.ebay.com.au/help/selling/getting-paid/introducing-managed-payments-ebay?id=4795

This means you actually pay eBay itself directly, who remove your fees immediately, then process your money, then send it to YOUR BANK ACCOUNT. No longer through PayPal as before.

I have been reading around and seen a number of comments; these were some of the highlights for me.....

- weekends are not counted in processing days or payout days, so add 2 days to everything?
- the changes ARE NOT reversible!
- there were "problems" over last weekend with the system?
- members have said they are getting their money and after money has been classsed as processed and then payment sent. It is at this stage they are saying the money is reliably on its way to their bank account...

 

[mbasko]

eBay are now even messing with PayPal refunds!
Recently purchased an item in error (thought it was another very similar product but not the inbuilt battery model) & had to cancel my order which was paid for through PayPal immediately.
The seller was very understanding & quickly cancelled my order then issued a refund through PayPal or so I thought. It seems the refund although initiated through PayPal by the seller somehow goes through eBay now before clearing! Been sitting there saying "Refund Pending" for 4 days.
:/ WTF

 

[numpty]

yep that's the way they work, take cash instantly but can't seem to deposit it into your account until 3 days later = scumbags, i rarely use paypal because they SUCK.

bit of luck other people will tell em to shove it up their bum too and go out of business.

shifty sacks of oop:

 

[A-team]

Yep, eBay have certainly lost their way....it's all about money now - forget the customer!

 

[Greenhornet_au]

Little faith in Ebay here.

But surprisingly still have faith in PayPal, not had issues with them, but I am only a buyer, not seller.