We Sellers Demand a Faster FREE Payout System!

[digginforgoldtradingpost2014]

We Sellers Demand a Faster FREE Payout System!

I'm tired of missing opportunities to buy inventory because my funds are held up in the "slow" eBay system! Paypal had a free one day payout system, as well as a fee based "instant" payout (which eBay now has). We demand a similar "FREE" payout system!

I say demand, because it is a desperate situation! With margins tighter, we need access to funds faster, AND we shouldn't have to pay for our own funds!

Under Paypal, many was the time when I found out about an opportunity to get inventory 3 or 4 days before the event. I would bust my rear end the next day listing stuff, 2 days later some items would sell, that same day I would do a one day transfer, and then have the funds the day of the event!

Now, when the same situations happen, I "might" have some funds 5 or 6 days later, so I miss the buying opportunity!

In this year alone, this has probably cost me $15,000 to $20,000, just because I can't get access to "MY OWN MONEY"!

eBay, this needs to change, or you will lose good sellers! They won't leave because they want to, they will leave because they HAVE to!

Thanks for listening and God bless!    

[ajs_coins_and_alchemy]

OP, is credit card not an option? I understand some sourcing can't be paid for with CCs ... I was PayPal-ing for some sourcing recently, I could have used a CC but I used PayPal balance to save myself the % fee. (Paid friends/family). 

CC is a great option if cash flow is tight in your business, assuming you don't over extend yourself, and if you are really cash intensive then plan ahead and have a pile of cash on the side for those big buys. I just told my supplier if I needed an extra week to pull together the cash or whatever, they had no problems (that was an outstanding relationship we had)

[chrispass918]

Nah, eBay can do what they want when they want. eBay 4 life!! 

[yuzuha]

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@ajs_coins_and_alchemy wrote:

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I get paid out weekly on Tuesdays. My payout is typically processed in the wee hours on Tuesday morning. My last payout was 11/14/23 at ~ 1:00 AM PST.

My bank account has it registered as being received on Wednesday 11/15/23. Last time I checked that's next day.

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It's the same with my bank, and I use a small local bank rather than a large one. It's always in my account by Wednesday at the latest.

[ajs_coins_and_alchemy]

I think I realize the problem with what joylitzco said now... they suggested they sell on Wednesday and aren't paid right away, issue starts withn the availability of the funds for payout. They don't process the payment for a minimum of 24hrs, THEN they can pay it out after that. So the item I sold on the 17th isn't going to be finished processing til like Midnight on the 19th, so right there it may take 24-48hrs before the funds are ready for payout. Depends when you start your clock

[ajs_coins_and_alchemy]

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@joliztoyco wrote:

No they don't.
We're all "members" of Managed Payments and we all know how it works.
I sold 2 items on Wednesday. 
No $$.
And on Thursday?
No $$.
It says right under my "payments" that the next scheduled payout is Friday.
And my payouts are scheduled for every day.
So either you're gaslighting, not paying attention, or you've signed up for instant payments.
Which one is it??

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@joliztoyco 

Just realized now it sounds like you're confusing the time you sell the item vs when the funds are available for payout. So no one is gaslighting you, you're just starting from a different point in time than we are. I sold an item yesterday the 17th and processing will be completed today on the 18th (which in my experience I believe means it's available for pay out as of midnight on the 19th). So it takes more than 24hrs for the funds to become available to be paid out, BUT once they are available for payout, it's my experience (and apparently that of several others') that the funds hit our bank accounts the next day after payout. 

[stephenmorgan]

I keep getting these offers from eBay.  Will this work for you?  They advertise next day payment.

Line of creditLines of credit up to $150K* for easily accessible capital

https://www.pages.ebay.com/sellercapital/

[joliztoyco]

I'm not "confusing"anything
The only thing that matters to most sellers is how fast do they get their funds after making a sale.
With PayPal, my funds were in my account almost instantly. And I could use my PP debit card at any ATM and withdraw the money.
Time from sale to cash in my pocket?
An hour??
Under eBay's crappy Managed Payments?
1. Sell an item at 6AM on Monday.
2. 6AM on Tuesday? Nothing. 24 hours of nothing.
3. 6 AM on Wed? eBay releases funds. 48 hours and counting.
4. 6 AM on Thurs? Funds show up in my checking account. 72 HOURS!!!!

In what world is accessing your cash in one hour better or even the "same" as eBay's crappy Managed Payments? Which take anywhere from 2 1/2 to 3 days to receive?

Arguing that we get our funds 24 hours after eBay RELEASES the funds, while true, is just half the equation. The other half of it is the lag time between sale and the release of those funds.

[mr_lincoln]

Hi @digginforgoldtradingpost2014 

I think your topic has the potential for a lively conversation ... lets start with this to fuel your fire:

-The last time I checked PayPal was THE #1 Payment Processor in the world and yes, they fronted your money to make it available sooner BUT the money actually moved no faster to them then any other site.  eBay selected Adyen as their Payment Processor, # 7 in the world, we didn't even get a top 5 pick!!!  

Okay, the cashflow aside, as I read your post the issue in my opinion (and I stress that this is just my opinion) is that your business model doesn't work and if you are not interested in investing in inventory via a small loan or home line of credit, etc. nothing will change.  That would allow you spend money to take advantage of an "event" you can without all of the stress.   Make sure your pricing covers and interest you owe on the barrowed money.

As to the "events" you are talking about I am sure they are advertised well in advance so planning the cashflow shouldn't be a last minute decision.

I too prefer having the proceeds from sales financing future inventory but that doesn't always happen ... I hate floating money until getting paid ...