Suzuki 2 Strokes

why is it that pay pal take 3 to 4 days to transfer your money into your bank account and yet it only take seconds to withdraw from your bank to pay for eBay stuff.
so where is this money during transition. the buggers so far have not replied to my questions.

Very simple. Take the amount that is held in "limbo" worldwide, for a couple days. Then invest it. They make a bunch of interest on it, and don't even have to account for it. And you think that just because you ask them, they will tell you what is going on?

About 20 years ago the State of WV did the same thing with the state pay role.

Kevin

jkevinlilly wrote:Very simple. Take the amount that is held in "limbo" worldwide, for a couple days. Then invest it. They make a bunch of interest on it, and don't even have to account for it. And you think that just because you ask them, they will tell you what is going on?

About 20 years ago the State of WV did the same thing with the state pay role.

Kevin

Quick to take it and slow to giveth.

Old trick for companies with large amounts of money in their accounts.
They lend it out on what's called the "overnight market", get paid lots of interest and then get their money back in 24 hours. Do this 3 days in a row with tens of millions of dollars and we're starting to talk real (free) money......at YOUR expense.

And the best of it is that NOT being a bank, they are not held to the same regulations.

And people wonder how ebay and paypal make so much money. Duh..

When Paypal first started up it was a free service to use. They claimed they made their money from doing exactly that, the interest earned off the money in users' accounts. Then after a year or two they started charging fees to accept payments, in order to cover the 2-3% fee credit cards charge. Then ebay saw the potential, and bought them out, and substantially raised the fees even higher.

Back in the good ol' days of ebay (late 90's), if you sold something you were charged approx. 5-8% of the selling price in total fees. That slowly increased over the years to about 10-12% by about 2008. Then in 2009 feebay (oops...i mean ebay) wasn't seeing the profits they thought they deserved for their monopoly service, so they just pretty much doubled the fees ( if you count the total combined fee's from paypal and ebay ). Amazingly they sent emails to everyone claiming how they were lowering their fees, but if you ignored the "ebay math" and did the real math, you could see how they were putting the screws to everyone. I sell a lot on ebay and keep good records of everything. My sales volume for 2009 was almost half what it was in 2008 (due to a variety of reasons), but my total fees charged to me by Paypal and Ebay actually went UP, instead of down. (how the hell does that happen). With all the fee increases and hikes over the last 2-3 years, I now pay 18-20% of the selling price of an item in total fees ( they spread them out, so most people don't even realize how much it costs them, between the listing fees, final value fees, upgrade fees, picture fees, then the all paypal fees ). What a racket.

As you can probably tell I wish there were another way, but the ebay/paypal consortium really does have a monopoly on internet auction & consignment sales, and the payment method for those sales. ( they will delete your auction if you say you accept money orders or personal checks, because they want everyone using Paypal ).

I got an email a while back to where I will be in the Settlement over the Final Value Fee Screw up between 05-08. I finally just had to give up selling because of the USPS raising the rates.Most of my sales were overseas.when they raised the rates the last time I just gave up.I just charged what USPS Charged for shipping and never Stuck anything on for Packaging.

I saw that too. How does a multi-billion dollar corporation "accidentally" overcharge everyone selling parts in ebay motors, over a 3 year period. I call that stealing. Maybe they should spend some of those billions on new calculators. I'm glad someone took the time to reveiw what they were actually being charged then sue the bastards for it. I'm sure they'll tie that up in court for years though, before anyone actually sees any kind of payment.

I'm hoping I get a Big Chunk. It suppose to be Finalized Next Month but Who knows.Lawyers are involved I'm sure they'll tie it up so they'll get the Majority of the Money.

Jughead wrote:I got an email a while back to where I will be in the Settlement over the Final Value Fee Screw up between 05-08. I finally just had to give up selling because of the USPS raising the rates.Most of my sales were overseas.when they raised the rates the last time I just gave up.I just charged what USPS Charged for shipping and never Stuck anything on for Packaging.

I got that card too. I'm selling off all my H2 stuff then screw ebay. I'm not stuffin their pockets anymore.

I kissed those greedy bozoes off ~3 years ago when the first big round of fees when into effect. I can take a hint.....

Its a monopoly for sure and with all the 'additions' they are coining the profits. Ok no problem, I'll play along to that tune, I just add on their cut AND mine too onto that when I sell something.
Its not fair but then again how else can you make a reasonable profit for selling an item. You only have to look at the current s&h prices to know thats where everyone is trying to recover their costs.
If you are restoring bikes etc or need an item not found anywhere but on ebay you really have no choice.

Suzsmokeyallan wrote: If you are restoring bikes etc or need an item not found anywhere but on ebay you really have no choice.

That is what they are counting on. There is another startup website I found last year trying to cater to the used car & motorcycle swap meet type parts. ahwooga dot com. They slowly seem to be growing. I haven't tried selling anything there yet, but I hope the site (or any other site) takes off, and puts some competition out there. It looks like a pretty good setup so far. As long as "fee"bay doesn't come along and buy them out.

wvc wrote:There is another startup website I found last year trying to cater to the used car & motorcycle swap meet type parts. ahwooga dot com.

Another couple of sites that I check regularly are eparts and also ebid - I've scored a few good items, at very reasonable prices on both sites.

EBID I posted that last year and no bugger took note!