Sellers enrolled in eBay Managed Payments tell EcommerceBytes they are growing desperate as they wait for eBay to release their funds.
"We are sinking fast and are out of cash," wrote one seller who said eBay is holding $4,000 from transactions processed through the new payments system - the last payment she received was on October 11.
She told us her mortgage and medical bills, which must be paid from her checking account, are due tomorrow. "We do not have enough cash to cover it because of this payout delay. This is disappointing service from a company that we have been a part of since 2002," she said.
She's referring to funds that her buyers paid to eBay through the new Managed Payments program.
When and how can I get my payouts?
To get paid, you'll need to add a bank account to your eBay seller account. You'll get paid directly to your bank account, regardless of which payment option the buyer selects. If you sell daily, you will receive regular payouts into your bank account. There's no need to transfer funds between accounts. Depending on your bank, you can typically expect payouts to be sent to your bank account within 2-4 business days of an order confirmation. We aim to pay you as quickly as possible, but are dependent on the credit card brands (Visa, Mastercard, American Express, etc.) and banks for payout processing and timely funds settlement. We are also looking into ways for our sellers to have more options and faster access to their funds.
One seller told us that since enrolling in Managed Payments, it has taken 2 days from payout to bank account, but he too is now experiencing delays. He has not received his payouts from October 15 - 17th.
"Something is wrong and eBay has been very evasive, blaming the Columbus Day holiday which was prior to the payouts. I've been with Managed Payments for about 7 months and never had a holiday interfere unless it was during the processing period."
Another seller reported she hasn't received a payout in a week and said eBay owes her over $10,000. Another seller said eBay owes him nearly $16,000. "This is a massive problem and I generally think this is a lot bigger than anything eBay is letting on," he wrote.
eBay has a discussion board where sellers can discuss Managed Payments, but unlike other boards, it is a closed group reserved only for enrollees of the program.
Note that eBay had informed some sellers in August it would require them to sign up for Managed Payments by October 22, 2019, telling them they would not be able to create new listings after that point and suggesting they join sooner rather than later "to avoid any interruption to your business."
We don't know how many sellers will be forced to enroll on Tuesday, but eBay may provide an update about Managed Payments when it releases its 3rd quarter earnings report on Wednesday. eBay's new interim CEO Scott Schenkel may also feel compelled to comment on ongoing technical issues that disrupted sellers last week.