eBay Wallet Immediate Payout To Debit Card For A Fee
eBay has finally officially announced payouts to debit cards...proving once again if you want to know what's really going on, don't wait for eBay, ask a seller. 😉
You now have the option to choose a biweekly or monthly payout schedule, in addition to the existing daily and weekly options. Payouts on demand are also available if you have a weekly, biweekly or monthly payout schedule, so you don’t have to wait for your next scheduled payout to get paid. Funds from payouts are made available per standard bank processing times, typically 1-3 business days.
If you’d like your funds sooner, most sellers* now have an express payout option. Just link your VISA or Mastercard debit card to have all or part of your available funds sent to your bank account in minutes. Express payouts are available on demand or on your preferred schedule. Express payout fee applies**. Learn more about express payouts.
*Seller eligibility may vary.
**The fee for payouts to VISA or Mastercard debit cards is 1.5% per transaction, with a minimum charge of $0.25 and maximum of $15.00 per transaction
Back in March at the eBay Investor Day event, Julie Loeger revealed "instant" payouts (within 30 minutes) to a debit card would be available for a fee later this year and it appears it's now starting to roll out to sellers.
As I predicted, eBay has closely copied PayPal's immediate pay option here - 1.5% fee on the payout amount (minimum fee $0.25, maximum fee $15) is exactly what PayPal charges for the same service.
Payouts to your debit card
Sellers have the option, for a fee, to receive payouts to a verified Visa or Mastercard debit card. To set up your debit card for payouts, sign into My eBay or Seller Hub and follow the instructions on the banner. eBay will ask you to verify your debit card either by uploading a bank statement associated with your debit card, or by using micro-charges (small charges).
If using micro-charges, we'll initiate two micro-charges of less than $1 to your debit card. Once they’ve reached your bank account, sign into My eBay or Seller Hub and follow the instructions on the banner to confirm the amounts. Once verification is complete, any micro-charges will be refunded to your debit card.
Once you’ve added a card, as a security measure, there is a 48 hour waiting period when you will not receive payouts. After 48 hours, you can resume receiving payouts and once your card is verified, you can select your debit card as your preferred payout method or request a payout to your debit card on demand.
You can select your debit card as your preferred payout method for scheduled payouts, or request a payout to your debit card on demand. Funds requested to your debit card on demand typically arrive in 30 minutes.
You won’t be eligible to use your debit card for payouts until you’ve been registered on the site for over 90 days and have an active linked checking account.
If you request a payout to your debit card, we charge a 1.5% fee on the payout amount (minimum fee $0.25, maximum fee $15). This fee is deducted from your payout total at the time the funds are transferred.
Have you used eBay's payout to debit card feature? Let us know in the comments below!