eBay have announced that the eBay Deferral Program, to delay paying your eBay fees, is now up and running and business sellers can now apply if it will assist you. eBay have now done two things to assist sellers directly so far, effectively telling you:
- Don’t pay us any fees this month
- We won’t hurt your business if you can’t pay us today, and we also won’t let buyers hurt your business by protecting your seller status
This is just the opening salvo from eBay and we’re pretty sure the situation globally is going to radically change in the future, currently eBay are making sure that your business is protected for the beginning of the onslaught. Yes, fees will need to be paid down the line as things stand… but no one in the country is worried about what will happen when things are reviewed in a month’s time and many things could change between now and then. People are more concerned about today, staying healthy and putting food on the table and so eBay have started where they can help the most in the very short term.
eBay Deferral Program cash flow assistance
Many businesses are struggling for cash flow at the moment and have additional expenses unforeseen just a couple of weeks ago. The government have put a raft of plans in place including rate relief for some small businesses and 80% pay for furloughed employees (backdated to the 1st of March), delayed VAT and income tax payments, grants of up to £25,000, and access to loans which the Government will pay the interest on for the first 12 months.
It will take time for this government relief to start flowing and that’s why in the mean time eBay want to also help with the eBay Deferral Program – it can free up cash to pay bills such as perhaps staff wages until such a time that you receive funds through the various government programs. We’re also still waiting to see what type of government assistance may be forthcoming for self employed people and for these people who’s income has collapsed a delay to paying their eBay invoice could be vital, and for other’s eBay might be a life line and it’s their day job which has vanished and who are also cash poor.
If this relief from the eBay Deferral Program won’t help you it’s entirely optional and you don’t have to take up their offer. Simply pay your fees as normal. Frankly however, at this point in history, most people will appreciate keeping as much cash on hand as possible for emergencies and, unless you have savings, delaying your payment could literally be a life-saver.
Other assistance from eBay
eBay have already put other measures in place such as mobilising customer service to work from home, freezing seller standards so that the status you have earned will not be impacted and acting on price gouging including starting to block consumers from selling certain types of products that a consumer normally wouldn’t be listing. Doubtless there will be more assistance to come from eBay, but it’s an extremely fluid situation and they’re targeting help one step at a time in the areas where sellers are telling them the assistance will be most effective.
eBay Deferral Program detail
Brief details are that if you want to take advantage of the eBay Deferral Program it means you won’t pay your next eBay invoice and it will become due with 50% added to your May invoice and 50% in June. The scheme is open to sellers to apply for an eBay Deferral Program until the 10th of April so if you don’t apply until after you’ve paid your April invoice it will apply to the following month with fees again split 50:50 and added to future invoices. If your invoice is mid-month the dates will apply from your invoice date.
eBay aim to approve as many sellers as possible but you must have been a registered business seller for more than 30 days and your account is in good standing with eBay.
The fees that will be covered in the eBay Deferral Program include final value fees, insertion fees, store/shop subscription fees, optional listing upgrade fees, and promoted listings fees. If you have other fees due then you will still need to pay them on your normal invoice date.
eBay have been working around the clock to introduce the eBay Deferral Program in multiple territories and it’s ready now for you to apply to defer your fees if it would assist you. Due to the speed this program has been implemented, you will need to go back to the eBay Deferral Program page to see if your application has been approved – there simply hasn’t been time to put notifications in place as that would have delayed roll out. You should expect a decision within 72 hours of applying.