Yes, that was my (unpleasantly surprising) experience too.
But eBay did a TERRIBLE thing… They took away instant payments… We can’t even CHOOSE to have an instant payment method now. That is a BIG step backwards. Slowing down payouts is NOT an upgrade. eBay now takes a couple days to process the funds, another day it becomes available, then even if we request disbursement, it then takes a few days for the bank to post it, especially if a weekend is involved in between all that waiting. And in that several days, eBay and the Banks all get to draw interest on having OUR money in THEIR hands. “But it ain’t that much”… Well when you have billions of dollars flowing through your coffers even a couple days interest would add up.
Ebay doesn’t bother me either…a little more in my bank acct. once a week or so, a pleasant surprise.
That could be your bank. My funds are there the next morning.
I was sad to see instant payments go but…
I have products that I sell on Ebay and I get deposits everyday (excluding weekends), eBay processes payments before the order even ships, not sure if this is the same for everyone? It takes a few days for the actual payment to process but If you have steady daily sales the payout system is in a constant flow of daily deposits.
That would depend on how quickly everyone ships.
But I think you’re right. The initiation of payment ‘processing’ happens immediately after payment, rather than waiting for confirmation of shipment or order delivery, as it does on Amazon.
It takes a few days for the actual payment to process
Does it really take ‘a few’ days? I thought it was more like 1 day, which can often feel like a few.
Edit: I went back and checked, and it appears to be roughly 1 day for me. For example, orders placed on June 3 were in the payout that initiated on June 5. Payout occurs in the wee hours of the morning, sometime between midnight and 2 am, so that’s really like late at night on the 4th. So…1 day plus a couple of hours.
I think you’re right that it only takes one day, I just started back on Ebay a few months ago with a handful of products and it’s been a nice steady payment flow with daily deposits which I must admit is a nice balance and welcome addition to the bimonthly Amazon payout.
Good info to know, thorough as usual thanks for checking!
True - i feel the same but the title of the OPS post gave me a heart attack almost OMG!
I can tell you this, the financial reporting in Amazon is an absolute nightmare. Just ONE itty bitty example to demonstrate: Open the mobile app, look at the home page - mine (I’m a very small player on AZ) says about 2,000 “PRODUCT SALES” LAST 7 DAYS", now press “DASHBOARD”, the SAME EXACT CHART, SAME EXACT PARAMETERS but now it says about 2,400!!! - SAME APP, SAME ACCOUNT - SAME SECOND! don’t get me started on all the myriad of other worthless conflicting reports on the desktop app. IF there is any reason for these exact charts to be different, why not put an “i” info icon, so you can hover and LEARN why the data is different without attending a UNIVERSITY. On eBay it is so intuitive - makes complete sense - but AZ…a mess.
This is why I do very little commerce on AZ, it is a joke with the pitiful programming here. Is the software director hiding this crap from Mr. Bezos? Unprofessional man. Hassle to list, hassle to audit, hassle to figure out if advertising is a good value. It takes time, lot’s of time. I have things I would rather be doing, so I don’t bother adding SKUs here. clean it up, make things simple my god man. sorry for the rant/vent.
This may have already been responded to, but let me chime in.
First, let me say that I actually agree with you about Amazon’s lack of improvement regarding their payment processing and checkout.
1.) Their checkout should never accept orders that are not yet authorized as this leads to disappointed customers who don’t understand what the delay is and pending orders for sellers which ties up inventory. This one issue actually costs Amazon profit because of the reduced sales by the tied-up inventory. There are zero reasons not to fix this.
2.) Amazon’s checkout (not exactly payment but close) should never accept an order for an address that doesn’t support any of their shippers. Ideally, addresses would be verified as valid as well but let us start with–if Buy Shipping can’t print a label from ANY provider, then reject that order.
3.) Payment could be quicker–either from the processing or held a shorter amount of time. I think the two weeks should actually be changed.
a.) new sellers have a one-month hold
b.) after a year, that changes to two weeks
c.) after three years, that changes to every week.
d.) anytime your sales increase 50% over the previous year’s comp, your increase can be held 2 weeks (or a month if this is just your second year).
I would convert all manual pull sellers over to this and it would likely balance out to about the same interest profit.
The speed at which the processed withdrawals actually hit your bank depends mostly on your bank–something someone in this industry should know. It does not depend on Amazon at all. Many banks are speeding up this delay to attract and retain customers.
If you expect Amazon to wire payments instead of using the free ACH system, then expect to pay a fee of $15-$25 each payment to receive your funds a day or two sooner. I bet very few folks would be interested in that.
The one exception that I would support is this. If Amazon has frozen your funds for any reason, I would support them eating the cost of wiring the released funds to your account as a courtesy.
BUT with all of that being said, you made the claim that Amazon’s current system has paid incorrect amounts and issued late payments. I do not remember any real examples of incorrect payments (at least in Amazon’s eyes) and there have been crazy few issues with late payments that I can recall.
So while I do agree that it needs to be improved, it is not because of the errors you claim.
I don’t think those statements are correct in any way. I have been selling for years on Amazon and I have exactly the same pay schedule as always. The funds are available as soon as I ship the item. Of course, I can’t collect except every 2 weeks unless I click the payment button which closes out the available balance and pays me immediately. We always wait the two weeks unless the date lands on an “off” portion of the week. We only have it paid early by 1 to 2 days to get us back towards the portion of the week that follows our pay periods for employees. However, we only do this a few times a year.
This might be a handmade policy? Something only you are experiencing? Do you have a policy update to quote that you can show us? What I have noticed this week is that the reserve balance dropped extremely low and the payout went up much higher than I was expecting (I’m not complaining by any means lol). Of course, this will have the next period suffer to get us back to what we are used to but it’s not waiting for anything to be delivered as far as I can see.
No. We started in Jan 2000 and Amazon had three “levels” of accounts or types of accounts behind the scenes. I forget the code names but the high end was under a real contract and had different perks than the others. We almost got upgraded to that type of account which would have been nice as some folks saved a lot of commissions.
We had the middle type of account (it might have been sales volume and/or having the “store”) with the 2 week payments but some better perks than the “newer” accounts at that time. The bottom level actually had the manual payments but was restricted from some things and limited your growth a bit (until they converted the accounts years later).
But just to be clear, even in 2001, there were accounts with the two week payments.
You are right! Some of our customers were inquiring why they haven’t received their orders or have a tracking number. When we reply to them and click their order number we see it’s in “pending payment” and then we have to explain that it didn’t go through for some reason we have little to no idea why. They then are disappointed and sometimes order again.
Then we see that a day to a few days later their order goes through and now they have 2 of them coming. They then either keep or return the item (usually return) at our expense. Some of these people are 2 to 4 orders deep which really takes a toll on us for returns.
So in that regard, something needs to be done. If not for us sellers, then for the buyers as they have been telling us that they don’t like this method that Amazon uses now and doesn’t even understand why the 1/2 hour wait after the payment goes through. We have customers that pay and then expect the tracking number “while they wait” and when we say it’s going to be at least 1/2 hour before we can do anything, they don’t understand why. Even after explaining to them that this is Amazon’s method.
So I do hope something changes in that regard.
Does Amazon benefit from any use of funds, interest, or anything with a non-standard delay in processing? That could partially explain why they wouldn’t want to change it.
Are you a new seller or did you have a recent policy violation? This is how Amazon has paid since I started a few years ago. If you have good metrics you can move up and they’ll hold less of a percentage, I believe there is 3 tiers. But unfortunately when you start (or have had a policy violation) they hold 100% and it won’t move to your available balance until 7 days after it’s been marked as delivered. You can request payment every 24 hrs if you have any funds that have become available or you can wait the 2 weeks for the automated payment for what has become available in that time frame.
I’m a handmade seller too and it takes about 3-4 weeks for me from the date of a sale for it to become available. The most frustrating thing for me is how they take shipping fees, advertising fees, seller fees, refunds etc, out of your available balance rather than taking it off the back end that is unavailable. So if I had $100 in shipping fees and only $50 in my available balance it’ll take that then I have to wait for another $50 to clear before I have any available balance again. The way they do it is extremely confusing and it’s hard to ever know what your going to get paid
We do as well.
Payment, less fees, posted to available balance as soon as item is shipped.
Payout every 2 weeks.
These problems may be due to the economic crisis in the world. And I think it will get harder.
Any payment processor that holds funds for any amount of time makes money on that money. That’s why banks clear checks so quickly now. There was a big legal issue about the “float” which is the money due to others that haven’t been sent out yet. The banks cleared checks within 24 hours. They then used the money for free (no interest paid) and then sent it out days later. Some of these banks and processors were making millions of dollars per day on this float. Nothing in this has changed except banks can’t do it as bad anymore but other processors can and some of them due and build that profit made into their financial portfolios. Amazon surely uses the money that has cleared until the day they pay out but they can legally do it since you agree to it on your TOS when you sign up. They are also a private company and not part of the Federal Reserve System or banking regulation (that I know of anyway).
as long as i get paid, i embrace that change, lol