New eBay payment policy?

[rche]

I only started selling off some comic books and old toys last year and went the eBay route. Now these changes...

Does anyone have a good recommendation for a better option to sell comics and toys? I always felt like eBay was the best way to get your stuff in front of the most eyes (and therefore get the best offers), but maybe the scales have tipped.

In order to keep shipping costs down, I'll often ship media mail, but if I won't get paid until after the books arrive, that could mean a week or two delay... yeesh...

I asked that same question in a different thread, and the responses seemed to point towards FB groups. I am also clearing out some storage space and have a lot of different types of items that I want to sell. I don't really want to join 50 different FB groups and then try to keep up with all the messages for that type of selling.

[ODBJBG]

well if enough people walk away from ebay they will switch back. i will not link my bank account to ebay. i didn't even do it for paypal

Unfortunately that's just not realistic. Ebay is just way too big. It would take millions of people and that's not happening since most are already switched or switching. When you're the biggest dog in the yard, you get to the make the rules sadly. And since most other services do the same thing, there's just not a good alternative.

Of course many years ago, they forced PayPal on people too. You didn't used to have to have a PayPal account or even use one. Pretty much the only reason 99.9% of people have PayPal accounts is because Ebay made everybody get one lol.

[megomania]

I started posting and selling again very actively back in mid-August. Been cruising right along with managed payments since December - they give you the option of getting paid out daily or weekly. I’m loving managed payments vs PayPal. They take their fee as soon as the buyer pays and also deduct shipping costs from my available balance. I don’t have to worry about transferring money from PayPal to bank or worry about did I use my available funds for shipping or did I charge it to my cc.

One thing I hated was getting a big bill at the end of the month for all of the eBay fees they didn’t deduct immediately.

-Chris

[YoungOnce]

They take their fee as soon as the buyer pays and also deduct shipping costs from my available balance.
-Chris

That's an aspect I'm not clear about. Did I read that eBay will not pay the seller until the item arrives? It seems to me like the fair thing would be that they wouldn't be paid until the seller is paid. I mean, as slow as the post office has been lately, and the fact that I have been mailing a lot of the comic books media mail to save everybody on shipping costs...

[megomania]

That's an aspect I'm not clear about. Did I read that eBay will not pay the seller until the item arrives? It seems to me like the fair thing would be that they wouldn't be paid until the seller is paid. I mean, as slow as the post office has been lately, and the fact that I have been mailing a lot of the comic books media mail to save everybody on shipping costs...

I sold 5 items on Monday and 5 yesterday. All of the funds are now available for payout. I believe the policy is the funds are moved from "processing" to "available" 1-2 days after generating a shipping confirmation number.

-Chris

[Sideshow Spock]

I will be out then. There’s no way I am shipping an item out without money in my pocket. They just continue to shoot themselves in the foot.

Bumping this thread for some good old fashioned complaining

Selling a few small items on eBay for the first time since March. One of the items sold yesterday in a BIN, and after buyer made payment I was amazed to see the message that I would not receive the funds into my bank account until a day after delivery confirmation. Wow

I did a bit of research and apparently this is because ebay considers me a "new seller" since I haven't sold in months? I've been selling on eBay for over 20 years with no issue.

I was also less than thrilled at being charged 12.35% in fees for the sale, that seems to have increased too.

And the kicker is that just a few hours after the buyer used the BIN (which was late in the afternoon), eBay hit me with a warning in the transaction that my shipment was "overdue". I guess I was supposed to drop everything at 4:30pm and run to the PO

[drquest]

Well no payments are sent at the time of transaction, not just because you are "new". It's 1-3 days after the purchase. I guess eBay likes to keep money in their account for a few days to get some free interest on it.

[VintageJoe70]

I hate this new policy...and now you have to file taxes for your ebay sales, even if you aren't an actual business....smh....

[Sideshow Spock]

Well no payments are sent at the time of transaction, not just because you are "new". It's 1-3 days after the purchase. I guess eBay likes to keep money in their account for a few days to get some free interest on it.

This is different than that - this is no money to me until after the item has been delivered.

[drquest]

This is different than that - this is no money to me until after the item has been delivered.

Gotcha, I miss-read that. Mecari is like that and honestly doesn't bother me too much. Seller a little, but as a buyer it's a nice protection.

[TRDouble]

This is how it's been working for me... when I sell something on eBay (and I have been selling for a long time, so I am not a new seller), eBay gets the buyers' payment, takes their fee, and when I generate shipping labels, my shipping fees comes out of that money too.

I have setup payouts on Tuesday, so whatever money eBay is holding from my sales gets sent to my bank account every Tuesday; I don't know how long the transaction actually takes, as I never paid attention.

The only time I have to pay any shipping costs out of pocket is if I ship after my Tuesday payout has been sent; since eBay is no longer holding my funds, they charge my bank account for the shipping. That's been true for the rare refund too.

I like not having to pay double fees to eBay and PayPal (even though, like people said, eBay has raised their fees). I think I prefer my money going to PayPal instead of my bank account because I use PayPal for some online shopping, like FTC and eBay; now I have to transfer my eBay payout to my PayPal account. But the lumpsum payout means it's not a bunch of piecemeal transactions that I need to tabulate first.

As for linking my bank account to eBay? Well, when I first started buying on eBay, I used money orders from the post office. Then, I used a credit card linked to PayPal. Then, I was given an ultimatum that I had to link my bank account to my PayPal account. I was not happy, as I did not trust linking my bank account to PayPal or any similar type of service. But I wanted to keep buying and occasionally selling on eBay using PayPal, so I begrudgingly did it. After many, many, many years of PayPal and other systems, like utilities, being linked to my bank account, it didn't bother me nearly as much to link my account, as it did in the early 2000s (or whenever that was).

[TRDouble]

I hate this new policy...and now you have to file taxes for your ebay sales, even if you aren't an actual business....smh....

This is the thing that bothers me. There used to be a $6,000 limit, but in 2022, it's a $600 limit. And this is not eBay's doing; they fought against this. I sell enough on eBay, with 99% of it being stuff from my collection that I have decided to part with, but it was always well below the $6000 threshold. But $600? I'll hit that by early next week with 3 weeks of "hardly trying" sales. Anyone who sells enough items just around Christmas will reach that threshold.

Laws that get passed like this is what the masses should be fighting against.

[thunderbolt]

I get once a week balance dumps into my bank account, no biggie. Its really not that complicated. Etsy already does the same thing too.

[RonnyG]

I hate this new policy...and now you have to file taxes for your ebay sales, even if you aren't an actual business....smh....

So how is this going to work? Is ebay going to send me a W-2 form (or another kind of document) at the end of the year showing how much money I earned selling on ebay?

[Nostalgiabuff]

i haven't gone back to selling ebay because of this nonsense. eventually i guess i will have to, or sell on facebook marketplace, though it probably is only a matter of time before the IRS gets their greedy hands into that as well.