‘eBay Balance’ to replace Managed Payments

[hotadvice]

i use halifax, so if funds are in available balance the night before, then around 4 am a few hours later its in my account, but this new ebay balance seems to be instantly to bank acc once you withdraw

[SaiJin]

Originally Posted by hotadvice

ive never received paynments into account within seconds, its always been a day later

It's usually 24 hours for everything to clear.

[OldTom]

Originally Posted by SaiJin

It's usually 24 hours for everything to clear.

There's nothing to 'clear', this is 2024, Available funds are disbursed instantly and if your bank are with the times too, it lands instantly. That is the norm, not the exception.

[Delta1]

Just the wrong terminology being used I think. No clearing necessary.

eBay put money into ‘Processing’. Then it normally becomes available just after midnight for me. Then I’m able to withdraw. Usually 12:15am for me. Will see if that’s the same tonight since the new system.

Oh and I’m also using halifax

[james_112233]

Originally Posted by Delta1

I've never heard of credit cards / bank cards suspending you for earning 'too much' cashback. Surely, the more you spend, the more they earn also from transaction fees. If they don't want to pay out too much cashback then they can simply cap it. They already limit what transactions qualify for cashback e.g. payments to financial companies don't earn any. I would think they'd like big spenders. Many have already reduced the cashback offerings.

Mine are all personal cards other than the PayPal Business Debit card. I have multiple credit / debit cards.

Some debit cards like Chase and Trading 212 offering cashback cap the amount of cashback to £15 / £20 per month. 1% / 1.5% cashback.

Other cards offering cashback those don't seem to impose a cap. Amex, I mainly earn Nectar points currently.



Find a different provider? Spread it out by using mulitple cards?

So didn't I until it happened to me ...

They asked how I was spending more money than I declared to them when I took the card out.

They wanted bank statements of all the payments I had made to them.

Then they asked me to confirm whether I was using my card for business purchases - which I obviously was.

I didn't respond with answers so they suspended me.

After moving all my purchases to another cashback card, that bank immediately clocked on and warned me that they are noticing I buy a lot of items from the same stores and it appears to be for business use probably because I started using it heavily, so I took it easy and still use it at the moment. Just not putting all my transactions through it

I made good money from amex over the years and miss the card very much.

[Delta1]

Interesting indeed. Could look into a business card that offers cashback?

Amex have since reduced their cashback rates. I’m using the nectar amex one. The everday cashback ones don’t get much use from me but I still have them

[Delta1]

That is a good amount % although annual fee is a bit on the high side unless you spend enough to earn it back. Is that rate limited to groceries? I have a card that is 2% for gas and gorceries but 0.5% for everything else.

For other spend, I use another card. We don't have anywhere near 6% in the UK for Amex. They've slashed rewards to 0.25% /0.5% and then there's reward points. My annual fee in about £35 and free for the ones with lower cashback.

Amex also offer other random cashback shopping and eating out deals which can be nice.

I too prefer Amex for the customer service and peace of mind.

[Delta1]

Just to go back on topic. I forgot to check after midnight if my funds become available at the same time. The schedule payout option is definitely gone.

I'll need to wait for my next sale before I do another test purchase to see where the money comes out of .

[james_112233]

Originally Posted by Delta1

Interesting indeed. Could look into a business card that offers cashback?

Amex have since reduced their cashback rates. I’m using the nectar amex one. The everday cashback ones don’t get much use from me but I still have them

I spoke to customer services and asked if I could apply for any of their other products now that I had been suspended, they said yes I can and it would be processed on it's own merits.

I applied for that nectar one you speak off ... rejected after a month. Looks like I won't be allowed an amex any time soon.

[Delta1]

Originally Posted by james_112233

I spoke to customer services and asked if I could apply for any of their other products now that I had been suspended, they said yes I can and it would be processed on it's own merits.

I applied for that nectar one you speak off ... rejected after a month. Looks like I won't be allowed an amex any time soon.

Ouch. I have 3 Amex cards.

Maybe something else they don’t like about your credit record

[Delta1]

Originally Posted by agent006140

grocery is 6%,others may vary 1-3%,they have more than one type of AMEX card,some have no fee,but this one does,
they also have high yield saviings account,these days the rate is 4%.
Ebay does not accept AMEX anymore,but you can still use AMEX via Paypal.in fact once they even offer you $5 if you spend $35.
I like them because of their customer service,some of their reps are familiar with AMZN,Ebay
here is the link,for grocery 6% up to $6k,then 1%
streaming is also 6%
https://www.americanexpress.com/us/c..._cashbackcards

Interesting. We don’t have those ones in the UK but interesting all the same. Big difference in % across the pond. Must be difference in taxes and charges.

The savings account at 4% does not sound high. We currently have normal savings accounts paying 4-5% although it can go down but I’ve not heard of Amex doing them here.

Either way, with 6% cashback , I would get the card as I could earn back the annual fee quite easily with my level of spending. Shame it’s not available here.

[eBaysnightmare]

Originally Posted by Delta1

I assume it applies to both business and private sellers? . It currently annoys me that some postage label costs are deducted from my balance. I would rather use a card so I can see the transactions now easily (and earn cashback for the spend).

I certainly would not want to spend my balance for purchases. That will nullify any purchase protection I get from a credit card for example. Ebay purchase protection isn’t bad but still… Any thoughts and concerns about the new arrangement?

I only use a private account and don’t sell as much nowadays

You can still pay for your own postage label bro. You don’t have to use funds from your own balance that’s just another option.

If you brought something using your eBay balance bro and it’s not what you expected you will get refund sent to your eBay balance so you can withdraw to your bank.

I read that if you withdraw your money it can take 0-4 business days so you might be able to get it instantly if you withdraw it brother.

It’s not working on auctions yet as I sold item on auction and it didn’t work but it does work for buy it now.

[Delta1]

Originally Posted by eBaysnightmare

It’s not working on auctions yet as I sold item on auction and it didn’t work but it does work for buy it now.

What didn’t work? I rarely do auctions.

RM Postage label did come out of my card. That’s fine. I think EVRI label, no choice unless i choose legacy option (until they remove this)

I know i can get a refund then withdraw to bank but that’s a hassle. I still have not purchased anything while I have a balance to test.

[Delta1]

Okay, so by default, it’s card payment and I can toggle to use my eBay balance. Great stuff!

[marianico]

only in ebay.uk? when in others countries?

[rsot]

Originally Posted by marianico

only in ebay.uk? when in others countries?

MP replaced in many if not all eb countries by now - i dont know if any exceptions exist....anyone?

[SaiJin]

Originally Posted by OldTom

There's nothing to 'clear', this is 2024, Available funds are disbursed instantly and if your bank are with the times too, it lands instantly. That is the norm, not the exception.

Wrong... if that's all you have experienced that doesn't mean it's valid for everyone.

Seriously, don't even try....

[OldTom]

Originally Posted by SaiJin

Wrong... if that's all you have experienced that doesn't mean it's valid for everyone.

Seriously, don't even try....

Don't even try what??

This is a thread about ebay.co.uk, the new 'ebay balance' for a private seller (or 'available funds' for a business) and it is immediately disbursed upon request. Nothing to clear and as I said if there is any delay in it hitting your bank account it is not the doing of ebay.

It is valid for everyone.

[murdered_by_ebay]

you can use ebay balance to buy items on ebay , at least on personal accounts

but watch out , you should always mix purchases and withdrawals. if you do purchases only and never withdraw this may red flag the account as it is a known fraud scheme where fraudsters sell items and use the balance to buy other items to receive them at bogus addresses anonymously and reseller later , this especially applies to high liquidity high value items

[OldTom]

Originally Posted by murdered_by_ebay

you can use ebay balance to buy items on ebay , at least on personal accounts

but watch out , you should always mix purchases and withdrawals. if you do purchases only and never withdraw this may red flag the account as it is a known fraud scheme where fraudsters sell items and use the balance to buy other items to receive them at bogus addresses anonymously and reseller later , this especially applies to high liquidity high value items

It's brand new! You have no 'red flag' evidence at all.

To imply that someone would buy goods and send to a bogus address anonymously (what the heck does 'anonymously' even mean) to re-sell later is utterly ridiculous. Here's a thought for would be fraudster buyer-resellers....just withdraw your funds like you've been doing for the last few years and cut out the middle man!!!

[murdered_by_ebay]

Originally Posted by OldTom

It's brand new! You have no 'red flag' evidence at all.

To imply that someone would buy goods and send to a bogus address anonymously (what the heck does 'anonymously' even mean) to re-sell later is utterly ridiculous. Here's a thought for would be fraudster buyer-resellers....just withdraw your funds like you've been doing for the last few years and cut out the middle man!!!

not everyone can withdraw , foreign sellers used to have many uk accounts but were not able to use them on MP due to inability to get access to UK banking system

the system is not new , it was common with paypal and now it is coming back on MP

this will be quite a seduction for those sellers to resume sales or start opening uk ebay that is why it is essential to either withdraw here completely or mix withdrawals with purchases

[OldTom]

Originally Posted by murdered_by_ebay

not everyone can withdraw , foreign sellers used to have many uk accounts but were not able to use them on MP due to inability to get access to UK banking system

the system is not new , it was common with paypal and now it is coming back on MP

this will be quite a seduction for those sellers to resume sales or start opening uk ebay that is why it is essential to either withdraw here completely or mix withdrawals with purchases

Lets keep it real and less of the bluster.

We're not talking about foreign sellers who can't get a UK bank account, we're not talking about paypal. We're talking about your unsubstantiated nonsense post above.

I will eat my hat if a private seller ever posts saying they were banned from ebay for using their balance to make purchases because it was deemed more of a risk than if they'd simply withdrawn it.

It's a great move by ebay, simply offering an option to spend your earnings with them and even then you have to override the current default payment method. Nothing more complicated than that but yet again you try and turn it into a perceived issue with more of your misinformation.