Length of time between my item selling and funds going into my bank
Hi, I hope someone can please give me some advice -
I sold an item for the first time in years on Amazon on February 5 2018. The seller paid £42.80 including postage.
After seller fees (£9.20) and postage (£2.82) this became £30.78. This is fine, and I understand all this.
After reading about Amazon’s policy regarding when I will receive payment I understand (I think) that Amazon will wait until the last possible delivery date for the item, and then schedule the initiation of funds to be delivered to me on their next payment date (and after that it could take 5 working days…). Have I understood this correctly?
Currently Amazon says that the payment initiation date for this item is March 6th (tomorrow). And also that the payment amount to me will be £26.20.
SO. My questions to anyone kind enough to help me out are -
- Why did my share of the sale drop from £30.78 to £26.20 with no explanation from Amazon? (I spoke to an Amazon rep on the phone for over 30 minutes but still couldn’t understand what was going on with this, several times was told ‘this is just the way Amazon does things’. I do not know where £26.20 has come from and sincerely hope that I have not sold something I owned for £40 only to get £26.20 from it.)
- If I continue to sell on Amazon will I need to wait over a month to get my money everytime I sell something even though eBay pays me immediately and takes less money from each sale? (Waiting a month seems totally ridiculous, am I missing something or is this standard practice?)
Any help would be much appreciated, I am selling a lot of things to pay bills as I am struggling a bit just now so I’d like to figure out what’s going on so I can determine whether or not to stop selling on here. I will also add to this that since the sale in question, I have sold and posted several other items and sent those with tracked delivery after reading that this could lessen the waiting time for me. However I sold something on February 27th, posted it tracked on the 28th but I can see that none of this money is coming to me over the next 3 payment dates meaning that I won’t be paid for this until after March 20th.
Thanks very much I advance.
Jack.
Length of time between my item selling and funds going into my bank
Hi, I hope someone can please give me some advice -
I sold an item for the first time in years on Amazon on February 5 2018. The seller paid £42.80 including postage.
After seller fees (£9.20) and postage (£2.82) this became £30.78. This is fine, and I understand all this.
After reading about Amazon’s policy regarding when I will receive payment I understand (I think) that Amazon will wait until the last possible delivery date for the item, and then schedule the initiation of funds to be delivered to me on their next payment date (and after that it could take 5 working days…). Have I understood this correctly?
Currently Amazon says that the payment initiation date for this item is March 6th (tomorrow). And also that the payment amount to me will be £26.20.
SO. My questions to anyone kind enough to help me out are -
- Why did my share of the sale drop from £30.78 to £26.20 with no explanation from Amazon? (I spoke to an Amazon rep on the phone for over 30 minutes but still couldn’t understand what was going on with this, several times was told ‘this is just the way Amazon does things’. I do not know where £26.20 has come from and sincerely hope that I have not sold something I owned for £40 only to get £26.20 from it.)
- If I continue to sell on Amazon will I need to wait over a month to get my money everytime I sell something even though eBay pays me immediately and takes less money from each sale? (Waiting a month seems totally ridiculous, am I missing something or is this standard practice?)
Any help would be much appreciated, I am selling a lot of things to pay bills as I am struggling a bit just now so I’d like to figure out what’s going on so I can determine whether or not to stop selling on here. I will also add to this that since the sale in question, I have sold and posted several other items and sent those with tracked delivery after reading that this could lessen the waiting time for me. However I sold something on February 27th, posted it tracked on the 28th but I can see that none of this money is coming to me over the next 3 payment dates meaning that I won’t be paid for this until after March 20th.
Thanks very much I advance.
Jack.
23 replies
Seller_hC0hNVDuILaKO
Have you included VAT at 20% in the fee calculation? and also have you included the per item selling fee of 75p plus vat since you will pay this for each item sold as you are not on the Pro selling plan presumably.
And yes payment for each order will be available for your next disbursement date from 7 days after the last estimated delivery date and will then take 3-5 days to reach your bank account.
Seller_7Kh7pbqZhZGf2
Fair enough, I’m not selling as a business so I guess its not worth it for me. Using eBay fee calculator, if I sold my item there for the same £40 + £2.80 p+p I’d receive £35.37 of it, including VAT fees, as soon as the buyer pays. In fact I’d get all of it right away and pay all the fees in a lump come the start of the next month.
Jessica_Amazon_
Hi Jack,
Thanks for your post.
I just want to add to the advice you have already received. All seller accounts registered with Amazon after the 15th of August 2016 are subject to a permanent disbursement reserve.
This reserve holds funds from orders in your account for 7 days after the estimated delivery date. Please see the following help page for more details: Payments based on delivery date
This reserve policy is permanent and cannot be removed from accounts.
The amount available for disbursement will change on a daily basis and is dependent on the orders confirmed and the estimated delivery date of the orders.
I hope this helps.
Thanks,
Jessica
Seller_7Kh7pbqZhZGf2
Thanks for responding to the thread Jessica,
I have some screenshots that explain my issue better, is there a way to upload here or perhaps there is a way to send them to you?
I understand that Amazon has this policy you mentioned - I don’t think it is right for Amazon to withhold payment for such an unnecessarily long period or take the responsibility for refunding away from the seller - but I understand that these are your rules. Great service for Amazon marketplace customers, less than stellar for Amazon seller central customers. In my opinion. I have sold my belongings, Amazon has their share, the customer has the item and yet I’m left out of the loop for over a month.
An issue I had is that the policy as it stands in your link explains that if tracing is purchased through an Amazon delivery service (I bought tracked through Amazon from Royal Mail and Amazon knows the tracking number as I can see it on my order statement) then Amazon can know exact details of delivery and then start the 7 days sooner, when the product is definitely delivered. Is this correct?
I shipped this order on Feb 27, and can see that it was signed for by the buyer yesterday. Yet, on seller central the last estimated delivery date is still March 15 - why is this? It has been confirmed that the buyer has had the item since yesterday morning so why hasn’t my 7 days already started?
My forthcoming payment schedule shows what money will be initiated for the next three dates and my money from this sale shows on none of them meaning I will get it after March 20.
What’s the point of me buying tracked if it makes no difference? Or is there something I’m not seeing that perhaps you can advise me about?
Any help would be much appreciated, and as I say, I have screenshots showing all this if it helps! Just let me know where I can get them to you if you’d like to have a look.
Jack.
