eBay community staff have confirmed this is an intentional change.
Hey @valueaddedresource! I don't believe an announcement was made about weekend payouts but the help page found here has been updated and it did just start this weekend. We hope you like the change!
However, many sellers are reporting that the funds supposedly initiated over the weekend have not hit their bank accounts today and in the payments tab, the weekend payouts do not show a bank reference ID like weekday payouts normally do.
Does that mean the payout wasn't really processed or just that the bank has not acknowledged it?
Sellers are reporting having a payout initiated Sunday November 28th as well. Still no official confirmation, but it's looking more and more like eBay may be moving to processing payouts 7 days a week - finally making daily payouts actually happen daily.
Is eBay giving sellers a much needed holiday cash flow boost? Some US sellers on the daily Managed Payments schedule are reporting that eBay initiated a payout on Saturday, November 27th - the first time many of them have ever had a payout initiated on a weekend.
eBay CEO Jamie Iannone had stated in his keynote address at eBay Open Online in August that they were working to bring more flexibility to Managed Payments.
Changes will include options to get paid out faster, more payout schedule choices, and expanding the ways you can spend your balance for shipping labels and purchases on eBay.
eBayUK added options for monthly and bi-weekly payouts in September, though they have yet to extend those options to US sellers.
Officially, eBay's US help page still says daily payouts are initiated on business days Monday-Friday (excluding holidays) and weekly payouts are initiated on Tuesdays.
How banking holidays affect your payouts
Some banking holidays may delay your payouts. If your payout is scheduled daily, a banking holiday may delay your payout by up to 2 business days. For example, if the buyer's order is confirmed on Friday, and the holiday is on Monday, the payout will be initiated on Wednesday (2 business days later).
If your payout is scheduled weekly, a banking holiday may delay your payout by up to 8 business days. For example, if the buyer's order is confirmed on Friday, and the holiday is on Monday, the payout will be initiated on the Tuesday of the following week (8 days later).
By default, payouts are initiated daily, but you can also change to weekly payouts.
Daily payouts are initiated Monday through Friday and include any funds that have become Available for payout during the previous 24 hours.
Weekly payouts are initiated on Tuesdays and include any funds that have become Available for payout Monday through Sunday of the previous week.
Thursday, November 25th was the Thanksgiving holiday in the US, so it's not clear if maybe this is just a one off situation to catch up or if eBay will continue to initiate daily payouts on Saturdays going forward.
Either way, it shows that eBay can initiate weekend payouts with the current system - it's just a matter of whether they want to or not.
UPDATE: I've heard from some UK sellers who had payouts initiated today as well when that has not been the norm for them in the past, possibly indicating this is more likely a permanent change than catching up from the Thanksgiving holiday here in the US.
Sellers who were in the early rollout of Managed Payments in 2019 have also said that previously eBay did initiate payouts on weekends, but changed that to Monday-Friday before the big push to migrate more sellers in July/August 2020.
I'll update as more information becomes available. In the mean time - if you're a seller on the daily payout schedule, let me know in the comments below if eBay initiated a payout for you today!