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  #1  
Old 08-23-2019
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Default Faster money transfers in 2020? Possibly

Tonight I was reading on the managed payment forum on eBay that Ayden is beginning the process to get withdraws to bank done in a more timely way.

Currently many ebay sellers are not too happy about the long wait for there sale money to show up in there bank.

Ayden is in process of obtaining a branch license in United States.
This will take time as it's in the begining phase. The hope Ayden has is to replicate the way paypal and etc do there withdraws to sellers banks.

It's taking me 3 to 5 days to see mine go from paid out to receiving in my bank.

If this does happen it will make managed payments acceptable with the sellers.
Claim also that everyone will be on managed payment in 2020. It mentioned Aug 1 in the post from an Ayden higher up person
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Old 08-23-2019
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Default Re: Faster money transfers in 2020? Possibly

The capability exists to do transfers in real time if they allow it.

The hold time you speak of is actually built into the system; it's deliberate.

This delay is in place to mitigate fraud and to comply with banking regulations. There needs to be a review or hold time for some transfers in the event they need to be reversed.
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  #3  
Old 08-24-2019
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Default Re: Faster money transfers in 2020? Possibly

There are 4 levels of transfer,the slowest one is free.
But if Ayden is not using a US bank which is a member of the Fed Reserve system,it could only be processing thru a corresponding bank,this cant be the case as Ebay should know better?
If the deadline is 2020,what month?
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Old 08-24-2019
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Default Re: Faster money transfers in 2020? Possibly

Quote:
Originally Posted by agent006140 View Post
There are 4 levels of transfer,the slowest one is free.
But if Ayden is not using a US bank which is a member of the Fed Reserve system,it could only be processing thru a corresponding bank,this cant be the case as Ebay should know better?
If the deadline is 2020,what month?
August to October 2020 I keep seeing on forum but who knows.
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Old 08-24-2019
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Default Re: Faster money transfers in 2020? Possibly

Quote:
Originally Posted by leighanns520 View Post
Tonight I was reading on the managed payment forum on eBay that Ayden is beginning the process to get withdraws to bank done in a more timely way.

Currently many ebay sellers are not too happy about the long wait for there sale money to show up in there bank.

Ayden is in process of obtaining a branch license in United States.
This will take time as it's in the begining phase. The hope Ayden has is to replicate the way paypal and etc do there withdraws to sellers banks.

It's taking me 3 to 5 days to see mine go from paid out to receiving in my bank.

If this does happen it will make managed payments acceptable with the sellers.
Claim also that everyone will be on managed payment in 2020. It mentioned Aug 1 in the post from an Ayden higher up person
This is the article I spoke of in this current post

08-23-2019 01:18:56 PM
To support the (quick-payout) service, the company is pursuing what Uytdehaage called a “branch license” in the United States. “It’s relatively early in the application process,” he added.



"Adyen Says It’s Ready to Take on the Majority of eBay’s Volume Next Year"

Digital Transactions News Site

August 23, 2019


PayPal Holdings Inc.’s shares dipped slightly late Thursday after a key Adyen N.V. executive told stock analysts that the Amsterdam-based company is “ready” to process “the majority” of eBay Inc.’s volume when eBay shifts to Adyen next year. Adyen also reported it is proceeding with an application for a banking license in the United States to support a faster-payout service it is planning for merchants.

PayPal’s agreement to process for eBay runs through the middle of 2020, but the big e-commerce marketplace has been shifting to a gateway service from Adyen that funnels transactions to a number of payment types, including Paypal.


By mid-morning Friday, PayPal’s shares were trading slightly down, as were Adyen’s and those of many other major payments providers in the midst of a market rout, including a 400-point drop in the Dow Industrial average. Following its initial public offering in June 2018, Adyen trades on the Euronext Amsterdam exchange.


Uytdehaage: “Of course, eBay is important to us. But the majority of the volume will come in 2020…”
While Adyen’s policy is not to discuss individual clients, analysts pressed the company’s chief financial officer Thursday for an update. “Of course, eBay is important to us. But the majority of the volume will come in 2020, at least that’s for until that moment they’re with PayPal,” said Ingo Jeroen Uytdehaage, according to a transcript. “EBay is still piloting with us, early stage. Majority of volume is still with their old provider [PayPal]. We’re ready for it. Majority of volume is still with their old provider … it’s not under our control.”

He added that “of course, we will be very happy to process all the volume. But for us, it’s very difficult to predict. We’re ready for it.”



EBay began moving away from PayPal last year with a “managed payments” program that lets merchants process through Adyen. While PayPal has been eBay’s processor for years (eBay owned PayPal until spinning it off in 2015), it will ultimately become one of many payment alternatives available on eBay.

Uytdehaage also updated analysts on Adyen’s pursuit of a U.S. banking license, though without disclosing much detail. He underscored how Adyen is interested in expanding its quick-payout service to U.S. merchants, which would allow merchants to collect proceeds soon after making a sale. To support the service, the company is pursuing what Uytdehaage called a “branch license” in the United States. “It’s relatively early in the application process,” he added.



Uytdehaage indicated the service’s success in other markets has spurred the company’s interest in expanding the availability of faster payouts. “Of course, because we see so much traction [in accelerated payout to merchants], we always ask ourselves, ‘Okay. In other markets, could we replicate this?’ This is one of the reasons why we indeed announced that we would look at a branch license in U.S.,” Uytdehaage said, without adding details.For the first half of the year, Adyen reported it processed 104.7 billion euros ($116.6 billion) in volume, up 49% over the first six months of 2018. Net revenue was 221.1 million euros ($246.2 million), up 41%
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Old 08-24-2019
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Default Re: Faster money transfers in 2020? Possibly

My transfers show up in my WF account the day after eBay sends the "We've sent your payout!" messages.
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Default Re: Faster money transfers in 2020? Possibly

ACH is operated by the National Automated Clearing House Association (NACHA)
It has different levels of speed, controlled by the member financial institution. Nearly every bank and credit union in the USA is linked to it. Most transfers are settled at the destination within 24 hours of being sent in about 90% of the cases.

There is also Zelle, which is a real-time settlement system, but it's member banks are far more limited than the traditional ACH system.

As I said, speed is not always a limitation of the network, but the policy set by the sender. PayPal has long delayed transfers accordingly if they deem them higher than normal risk.
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Default Re: Faster money transfers in 2020? Possibly

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Originally Posted by phaz0rz View Post
My transfers show up in my WF account the day after eBay sends the "We've sent your payout!" messages.
Wish mine did. Nothing at all moves to my bank over weekends and holidays.
If I receive a sent your payout!" messages on Thursday, I will receive in my bank on Monday. Anything that is sent on Friday or Saturday, I get Tuesday. So about 3 business days.
Not sure why it takes some banks longer after the sent your payout!" messages.
However at least at this time I know I will get the payments where with PayPal anything could happen. Much happier thus far. Just wish for faster payments.
Maybe eBay is actually putting a small hold of x amount of days before releasing the payments without seller letting seller know. That my guess on the longer delay.
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Default Re: Faster money transfers in 2020? Possibly

Quote:
Originally Posted by nickopedia View Post
ACH is operated by the National Automated Clearing House Association (NACHA)
It has different levels of speed, controlled by the member financial institution. Nearly every bank and credit union in the USA is linked to it. Most transfers are settled at the destination within 24 hours of being sent in about 90% of the cases.

There is also Zelle, which is a real-time settlement system, but it's member banks are far more limited than the traditional ACH system.

As I said, speed is not always a limitation of the network, but the policy set by the sender. PayPal has long delayed transfers accordingly if they deem them higher than normal risk.
What is Zelle? Do your payments show up when you get the "sent your payout!" messages.
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Old 08-25-2019
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Default Re: Faster money transfers in 2020? Possibly

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Originally Posted by leighanns520 View Post
What is Zelle? Do your payments show up when you get the "sent your payout!" messages.
you dont know what zelle is? bloody hell m8t
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Old 08-25-2019
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Default Re: Faster money transfers in 2020? Possibly

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you dont know what zelle is? bloody hell m8t
No. Sadly I don't. Still don't. Lol
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Old 08-25-2019
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Default Re: Faster money transfers in 2020? Possibly

Lol. It's just a bank to bank personal money transfer service. Similar to Western Union or Moneygram except there's no cash pickup option. Wells Fargo and several other major banks offer "Zelle".

Zelle isn't really relevant to this thread though since it's just a commercial pseudo-ACH service offered by banks. It doesn't really have anything to do with backend ACH settlements.
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Old 08-25-2019
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Default Re: Faster money transfers in 2020? Possibly

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Originally Posted by phaz0rz View Post
Lol. It's just a bank to bank personal money transfer service. Similar to Western Union or Moneygram except there's no cash pickup option. Wells Fargo and several other major banks offer "Zelle".

Zelle isn't really relevant to this thread though since it's just a commercial pseudo-ACH service offered by banks. It doesn't really have anything to do with backend ACH settlements.
Ok. I had no idea. I was hoping it was a bank to get funds faster but I am good on the 3 days that it takes for mine.
Appreciate the info
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