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Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). She is a member of the Online News Association (Sep 2005 - present) and Investigative Reporters and Editors (Mar 2006 - present). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.
Ahhh the crime syndicate strikes again!
As stated MANY times in various places, by various people … the San Jose Mafia is now in %100 control over sellers funds – good for the Mafia, bad for sellers.
Casual seller, enterprise seller – who knows – its all eBay mumbo jumbo that has no basis in US trade law.
eBay does it because THEY CAN. Because YOU are nothing to them and they can do what they want at any time – and just ask the eBay cheerleaders – they can do what they want – stop complaining.
eBay needs the float to pad their numbers, Wall Street is in on the con game – just go to the various sites – they will tell you that eBay is the best stock EVA (ever!)
eBay should of course be honest and upfront – though those 2 words arent in eBays lexicon …..but theft, deceit, misappropriation and others are.
Just another move by Ebay to somehow increase their revenues as they are getting more and more desperate to show some type of growth and it is very hard when your platform never shows what the buyer is looking for but only what Ebay wants to show them. Ebay knows they are losing sellers big time and have to make the loss of FVF fees and loss of store revenues any way possible and Mangled Payments was designed to give them the ability to do so as they now control all aspects of every Sellers business and think they know more about the Sellers business than they do. We all know just how hilarious this is since they cannot even run their own business without running con games on their customers, even the buyers.
All I can say as a “casual seller” is that I’m glad EB is not the only platform I sell on. Actually AMZ is similar. It releases funds every 2 weeks. If you want your funds quicker, you can request it and there’s something called Payability, it’s like a business loan against your funds.
I keep it simple.
It’s only 25 sales, deal with it.
It should take a day if this is how you make money.
If you’re that hard up for money, go get a 9-5.
If this is not how you make money, waiting until a buyer gets the item should be the norm.
Stops scammy new sellers from popping up.
It’s only 25 sales, deal with it. – if its “only 25 sales”, then whats the need to do so? Oh yeh – you need to keep the float.
It should take a day if this is how you make money. – eBay never holds money for “just a day” … unless on that day the sun stood still in the sky like in Joshua
If you’re that hard up for money, go get a 9-5. – people some times need to supplement their incomes for a variety of reasons – none of which are eBays business. If you make a sale and ship – thats the end.
If this is not how you make money, waiting until a buyer gets the item should be the norm.
Stops scammy new sellers from popping up. – correction – stops scummy cheerleaders and eBay mafiaosos
This is illegal in most states. Check with your state’s Secretary of Banking website for rules on money transmitters. Mine allows for holds of up to 5 days, after that, funds must be released.
More held money equals more “profits” for eBay from interest floats equals higher stock prices! Yippee! eBay wins! Drinks for everyone at Walker’s!
Many ‘”low volume” sellers are hobbyists. The new eBay payment system has turned a hobby into a non paying job!