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Just an update - got paid today by eBay for the item I sold on Sunday and which was initiated yesterday. So it can’t be a BACS payment as that wouldn’t arrive until tomorrow from Monday.
So sold 3 things and I’ve had an email telling me to register for VAT and eBay is holding on to all my funds for a month! What a waste of time. As soon as the last couple of items have sold I’ll just close it. Really can’t be arsed with this nonsense.
the VAT email was a phishing scam
and its quite normal for eBay/Paypal to hold funds on high value items for low volume sellers, just upload tracking to Paypal and its usually released within 24 hours of the tracking showing as delivered
Bump.
Just sold my first item under the bank trans, not paypal method - and where Paypal was immediate, the only thing to tell me I've been paid is an auto-generated email from ebay. I can't see money anywhere as yet. That normal now? I have to send the item before I see the money in my account?!
"Now that you've received your payment of..." No I bloody haven't!
Yes. eBay has the money but it's on the way to you. Normally a couple of days.
You have received payment. It's in your eBay account. At some point it'll move to your bank account.
It's better if you do £1 selling fees. You literally do only pay £1. Sold about £100 worth of stuff over Easter, 4 items, £96 in my account. Also it's £1 selling this weekend!
I have to send the item before I see the money in my account?!
Yep, you will be getting the money as eBay have received it but are holding it for a few days so the item has been paid for.
If you don't trust that then wait a few days before sending until the money is in your account (make sure you select option for money more regularly than once a week) and you can cover than by using a dispatch time of say 5 days on your listings.
Cheers. Yeah, I'll change the dispatch time in future to "when I see the colour of your money"!
Good that buyers can't raise fake disputes and get your money frozen for 8 days, like they could with Paypal, I suppose.
I put this down to ebay being greedy.
In the old world ebay take a fee from the seller and if paypal was used then paypal took a fee too.
However, if a sale was cash on collection then only ebay got a fee.
Ebay now do away with paypal and manage your fees so every sale (including cash sales) will now incur the ebay fee.
The new ebay fee is slighty less than the old combined ebay/paypal fees so it looks like a win, unless you're someone who sells a lot of stuff cash on collection, then you'll be shelling it much more in fees.
And if you only sell on £1 listings then you shell out a lot less in fees. Swings and roundabouts.
I thought everyone who did cash on collection just cancelled the sale once the deal was done 🙂
You're spot on about the £1 listings. Just sold something for £90 - ebay fees -£12.33
Absolute rip-off. They even take fees out of the postage. Won't be doing that again in a hurry.
Yep. I only do £1 max fees now. Just save stuff up then stick it all on when the £l listing comes round. Sell for £90, get £89 is actually pretty good. And a reminder, it's £1 max fees this weekend.
Its a bit like the budget airlines. If you go in cold they'll shaft you, if you know the game then it works out OK.
I thought everyone who did cash on collection just cancelled the sale once the deal was done
As long as the buyer has somehow managed to contact you outside of eBay messages you will get away with that.
As long as the buyer has somehow managed to contact you outside of eBay
By walking up to you and collecting the item you mean? 🙂
Its £1 max selling fees weekend, btw!
Found out how to turn off this new payment method, it's just in the Selling > Payments page, you can delete it and switch back to paypal, I might do that as really don't like waiting for the money.
Just thought I'd update this as I've had a few sales with the new payment system. Seems to take less than 2 days to get the money now. Last sale, sold Sunday evening, posted Monday lunchtime, money in my bank account Tuesday morning.
Found out how to turn off this new payment method, it’s just in the Selling > Payments page, you can delete it and switch back to paypal, I might do that as really don’t like waiting for the money.
Any reason to do or not do one or the other ? I don't like waiting for it to pop into my account i must admit.
it seems to work ok, payment can be set up to pay daily (monday to friday) or Tuesdays weekly,
i set up an old account and got 3 free listings no fees. the money was put on a 30 day term, but as soon as i uploaded the tracking reference, payment released within 1-2 days, then payment follows the next day.
i've sold some cheaper stuff since and moneys became avaiable the next working day ie if your item sells on a monday, it'll be confirmed tuesday and payment to bank wednesday (hits bank noon to late afternoon)
i miss having the money in my paypal to make low value purchases online, so my credit card seems to have loads of small online purchases over the last month, with paypal it was simpler..