eBay will automatically enroll eligible US sellers in eBay balance, the renamed Spendable Funds program, on November 4, holding their sales proceeds on eBay instead of sending them straight to the bank, according to Liz Morton at Value Added Resource. Sellers on daily, weekly, or monthly payouts will be switched to on-demand withdrawals and have to restore their schedule by hand, and the new terms let eBay drop scheduled payouts entirely in the future with notice. Once enrolled, sellers can’t leave the program unless they shut down their eBay account. eBay’s terms already let it pool seller funds and keep the interest, and sellers earn none, so more money sitting in balances could mean more interest for eBay.
