eBay and My Money

Sp8ctre

Sp8ctre

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I'm not sure how many eBay Sellers we have on here, but I just made my first sale under their new program and thought I'd pass this along.

They have made a new policy where eBay makes all the deposits directly to your bank somewhat like Reverb does. Reverb has always been
very fast for me. The instant I print a shipping label on Reverb my funds are released and sent to my bank. Not so with the new eBay direct pay.

I sold an item on the 25th and bought an eBay shipping label and shipped the item the same day. My funds went into a "Processing" status.
Today I finally get an email saying the funds were being released to my bank. The estimated time for the money to be available to me is 4
business days. That will be Friday.

Under the old policy when I received PayPal payments directly I got paid immediately when the buyer paid for the item. So eBay's new
"more convenient" set up has me waiting 9 days to get my money instead of getting it instantly. What are they doing with my cash during
processing?

I think I'll check out Etsy...
 
They can make ALOT of money in 9 days trading T bills overnight. That's what we did with deposits when I was at Merrill, but it was only for 1 night. If you made a deposit on Wednesday you still had the money in your account Thursday morning.
 
My thurs-fri-sat credit card pays for work hit Monday in my bank..its like Christmas every Monday..the Sunday funds on Tuesday..i kinda like it. Weird, never sold a thing online all my gear goes quick off CL. have electric & we do the parking lot jam session for testing
 
Sp8ctre said:
They are also demanding you sign an agreement for them to deposit and WITHDRAW from your bank account!
Click to expand...

And to think, the last time i sold anything on ebay was................................

They pissed me off buying or selling when they implemented the almost mandatory paypal, then of course Uncle decided they needed a slice and thus taxes were charged on purchases.....No wonder I dubbed it Feebay.

Now we should call it Jesse James, only he used a gun.
 
I started on ebay in 2000 buying and selling drums. I got some of the best drums ever during that time. Then when ebay seemed to take a couple hundred off the top of the sale of a $1500-$2000 sale, then shipping and the paypal fees. I gave up because all profit was lost.
 
Sp8ctre said:
I'm not sure how many eBay Sellers we have on here, but I just made my first sale under their new program and thought I'd pass this along.

They have made a new policy where eBay makes all the deposits directly to your bank somewhat like Reverb does. Reverb has always been
very fast for me. The instant I print a shipping label on Reverb my funds are released and sent to my bank. Not so with the new eBay direct pay.

I sold an item on the 25th and bought an eBay shipping label and shipped the item the same day. My funds went into a "Processing" status.
Today I finally get an email saying the funds were being released to my bank. The estimated time for the money to be available to me is 4
business days. That will be Friday.

Under the old policy when I received PayPal payments directly I got paid immediately when the buyer paid for the item. So eBay's new
"more convenient" set up has me waiting 9 days to get my money instead of getting it instantly. What are they doing with my cash during
processing?

I think I'll check out Etsy...
Click to expand...

Sorry dude, that sucks. I wasn't aware ebay changed their policy....I've been using Reverb as of late
 
Sp8ctre said:
I'm not sure how many eBay Sellers we have on here, but I just made my first sale under their new program and thought I'd pass this along.

They have made a new policy where eBay makes all the deposits directly to your bank somewhat like Reverb does. Reverb has always been
very fast for me. The instant I print a shipping label on Reverb my funds are released and sent to my bank. Not so with the new eBay direct pay.

I sold an item on the 25th and bought an eBay shipping label and shipped the item the same day. My funds went into a "Processing" status.
Today I finally get an email saying the funds were being released to my bank. The estimated time for the money to be available to me is 4
business days. That will be Friday.

Under the old policy when I received PayPal payments directly I got paid immediately when the buyer paid for the item. So eBay's new
"more convenient" set up has me waiting 9 days to get my money instead of getting it instantly. What are they doing with my cash during
processing?

I think I'll check out Etsy...
Click to expand...
E bay is and has always been a scam. Paypal is a scam.

They hold your money for one reason:
To earn interest for themselves.
They hold thousands of people's money for as long as possible.
This earns them millions of dollars per year in bank interest.

This is how people like Elon get rich : by holding your money.
The longer they hold it, the more they make for themselves.

(Elon impresses me as being a slimy low life...)

They earn interest by holding your money but you never get any of the interest earned, using YOUR money.

The sooner you stop using ebay and paypal, the better.
I am completely fed up with the rank substandard customer service.
I will never use paypal or e bay again to buy or sell anything.

You buy something on E bay, and you suspect fraud.
But ebay delays your fraud claim for 2 weeks.
Why do you THINK ebay delays your claim for 2 weeks?
So they can hold the money.................. for as long as possible.
 
Last edited:
AMS, Sp8 etc, and do not get me started on UPS, USPS, FEd Ex if they damage or lose anything you ship.

I have had a few purchases and at least one SALE item that sustained damage. MY first experience was with UPS back around 2000 2001. Bought a drum kit from a good guy down in Florida. Something like 2 kick drums, a snare, and 4 other toms. The 16 inch floor tom got a 9 inch crack in the shell. UPS sent some agents out and viewed the drum, told me they would cover it and pay the seller. He had already located me a replacement and all went well WHICH could not have gona as smoothly, because if he had not found one, the replacement would take 4-6 months from Pearl drums and likely have cost in the neighborhood of $700-$1100 just for that one drum.

Nowadays they sell the protection,,,,,,,,,,,,,, they refrain from calling it insurance. and then do all they can to deny the insured's claims.
 
Amp Mad Scientist said:
E bay is and has always been a scam. Paypal is a scam.

They hold your money for one reason:
To earn interest for themselves.
They hold thousands of people's money for as long as possible.
This earns them millions of dollars per year in bank interest.

This is how people like Elon get rich : by holding your money.
The longer they hold it, the more they make for themselves.

(Elon impresses me as being a slimy low life...)

They earn interest by holding your money but you never get any of the interest earned, using YOUR money.

The sooner you stop using ebay and paypal, the better.
I am completely fed up with the rank substandard customer service.
I will never use paypal or e bay again to buy or sell anything.

You buy something on E bay, and you suspect fraud.
But ebay delays your fraud claim for 2 weeks.
Why do you THINK ebay delays your claim for 2 weeks?
So they can hold the money.................. for as long as possible.
Click to expand...
Spot. On.
 
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