ebays new payment processing...wtf man!!!?

J

JimAnsell

Well-known member
ebay requires you to now link up to your bank directly, and not just through paypal. then they "process" the payment, and you don't get it for a few days. sold an item on the 18th, and i won't get the cash until the 21st. No more instant payment, then instant transfer through paypal, where you can sell an item and have access to the cash right away. Its getting shittier and shitter out there for the gear resale market, between the reverb scams, and this shit.
 
Samhain said:
Thats because during that 3 days times multiple millions of "customer" dollars acquiring interest in off shore accounts they skim that off the top = 100% free money for them.
They all do it.
The longer the wait the more money they make.
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the target fed funds rate is 0-25bps...they aren't making much if anything on the float at this point in time. Most banks are paying in the 3 bps range, if that, for a transaction account. Plus an ACH transaction takes 3 days to clear. They are now just not making funds available while in clearing like paypal will do.
 
eBay is now using eBay Managed Payments exclusively (which is Adyen, the same payment platform as Etsy and others) instead of PayPal.

It takes some getting used to, but now you pay a single selling fee instead of final value plus payment processing fees. They also charge less than the old combined rate, so I'm all for it.

It just works the same as Reverb Payments now. The bank transfers can be scheduled on a daily basis and are initiated after the uploaded tracking shows any activity (not delivery).

It's funny how everyone complains about PayPal ceaselessly and when an alternative is implemented, more complaining ensues. :LOL:
 
Steinmetzify said:
This is gonna be a lot of shit stacking up for me lol
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seriously, its gunna change the game for many of the bigger, bulk sellers especially. probably make me choosier about what i buy, out of FEAR of having to resell it. i never bitched about how with paypal you can instant transfer. you sell an item, get the paypal payment instantly, transfer it to your bank instantly (fee of course), go to the bank, get your physical cash, buy your crack rock. 10 minutes, done! thats the way it supposed to be !!!1 :p
 
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It’s because PayPal is problematic for sellers. It’s part of doing business. If you want to compete and bring in the same as legitimate retailers, it’s part of doing business
 
I heard on Trogly’s guitar show that eBay also raised their fees on selling guitars and basses to more than reverb. I never linked my account with eBay since they want my social security number and I probably won’t bother. I’ve been on there since 1999, but will probably just move on now.
 
Snowdogyyz said:
I heard on Trogly’s guitar show that eBay also raised their fees on selling guitars and basses to more than reverb. I never linked my account with eBay since they want my social security number and I probably won’t bother. I’ve been on there since 1999, but will probably just move on now.
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1. Stop watching Trolly's guitar freak show. That guy is creepy and suspect... in a I'd never leave my kids alone with him way. :bleh:

2. It's cheaper to sell on eBay.

Reverb Fees:
5.00% of total + 2.70% payment processing fee + $.25

Ebay Fees:
5.85% of total (final value fee) + $0.00 insertion fee

Also service is better on Ebay. Not much... but better.

You have to link a bank account to both and give your SS to both now. So it's the same policy with both now.
 
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bikerdude2 said:
My guitar was delivered and I'm still waiting.
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That has happened to me many times with EBay a while back. I purchase items on ebay but I'll never sell again on ebay. I started with eBay from the very beginning, they have been doing stuff like this for a good 10 years now. They're horrible.
Honestly...all gear transactions have been done on craigslist and I've had zero problems.
 
Wizard of Ozz said:
1. Stop watching Trolly's guitar freak show. That guy is creepy and suspect... in a I'd never leave my kids alone with him way. :bleh:

2. It's cheaper to sell on eBay.

Reverb Fees:
5.00% of total + 2.70% payment processing fee + $.25

Ebay Fees:
5.85% of total (final value fee) + $0.00 insertion fee

Also service is better on Ebay. Not much... but better.

You have to link a bank account to both and give your SS to both now. So it's the same policy with both now.
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I sometimes watch because he gets some pretty cool stuff in I haven’t seen before. He’s weird for sure, but he’s far enough away that I feel my kids are safe! 😆

service between the two is debatable. I’ve had several non paying buyers on eBay and the process to re-list your item is painful and you don’t even get to leave negative feedback. They put a “mark” on the non paying buyers account but not sure they really do anything. Then I have to wait several days to see if the buyer shows up or not. If they don’t pay within the sellers terms then immediately cancel the sale and let the seller leave negative feedback (while not letting the ghosting buyer leave anything) and let the seller re-list immediately. It screws the seller big time due to similar new listed items selling while waiting for a butthole who’s never going to pay to not answer several days later. I quit selling on there because of it and I’m a member since 1999.
I don’t remember giving my SS number to reverb, but it was long ago so maybe I did. I’m just not giving it to eBay for the above reason. I’ve had great luck with reverb overall, but it’s becoming a crap shoot as well, since they’re protecting buyers way more than sellers now.
 
eBay is also requiring your SSN, they are for me at least, because they're going to start 1099-ing us. So, I'm out. That's not happening.
 
GJgo said:
eBay is also requiring your SSN, they are for me at least, because they're going to start 1099-ing us. So, I'm out. That's not happening.
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It's just not eBay... in the new "Covid Relief Bill"... there was a part that allowed different states to lower the taxable threshold of online payments received... some states were lowered to $600. So if you go over $600 in PP payments received... boom! 1099K.

Read more here:

https://www.ecommercebytes.com/C/abblog/blog.pl?/comments/2021/3/1615153514.html
 
Does Biden know that that tidbit is in the bill, I wonder?

Also, what's creepy about Trogly? I've seen several of his reviews but didn't notice anything creepy about him..
 
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