Each Collection through NEFT is charged at Rs. 28.09 ?

[assemblerz]

Hi
I just have come accross an instance where I got charged for receiving NEFT from a buyer. Further I spoke to my bank , who told me that each NEFT transaction is charged at Rs. 25 per transaction + 12.36% Service tax. So you end up paying Rs. 28.09 per transaction to receive a NEFT.

I am just wondering if anyone else got such charge? Is the NEFT of ebay is also charged? If yes we are spending Rs. 225 per month just to receive our own money using the New Paisapay? Is there any way we can go back to old paisapay(DD system) which was free of cost to receive money?
I hope ebay answers this query that is new paisapay free?

Regards,
Rahul
Assemblerz

[jaipur_fashions]

Other info can be found here, http://pages.ebay.in/community/aboutebay/news/infastfacts.html

Regards
Meenu

[emailswarup]

Hi Umang,

Good stats. There is merit in your calculation for all of us. ebay peoples can estimate more correctly how much useless donations we shall be paying to the Banks. If its more then surely no body will comment. If its less then off course someone from ebay will say that its lower than your estimate ( even 1% less is also less ).

After all the options given here, I think the best win win situation is - ebay should allow us at least 30 days time to choose when we want to withdraw. If we do not specify the date within a month then they can transfer automatically. After all for international deliveries they can hold our payments for 36 days ( 10 days for despatch + 21 days for delivery + 5 days for buyer confirmation ). If that measure is not a hindrance for their non-banking license then holding the payment for a month as per seller's schedule can not be a problem too.

. .
Best Regards 😄
Swarup
Kolkata

[indconcepts]

Hello Swarup,

This data of 12,800 Sellers is of the month of June 2006.

I am sure that this Figure must have reached 20,000 from June 2006 to January 2008.

I have taken into account that all Sellers might not be receiving the Remittances 8 times in a month.

Also, all banks may not be charging for incoming NEFT.

Apart from this Indraneel of ebay has mentioned in his Post No.27 that .....

"On the contrary PaisaPay pays its payment processor (Deutsche Bank) for making a NEFT."

That means if ebay is paying a small sum of say Rs.5 for each outward NEFT then .....

10,000 x 5 x 8 = Rs.4,00,000

...... an additional sum of Rs. 4,00,000 is going down the drain.

To sum up .... everybody is at a loss .... Sellers, ebay & Buyers ..... because ultimate all the ebay Fees and expenses are added on to the Item Price. .


best regards

Umang Midha

[jaipur_mart]

Ebay feedback on indconcepts' calculation awaited.

Thanks and Regards
Ram krishan

[techniwas]

1. i spoke to a HDFC bank official today and he informed me that incoming NEFT transfers are free.

2. The figure of 12800 sellers refers to total number of people who would have ever sold on the site. Not the total no of sellers active. -- There are some 150-200 powersellers. Even some of the low end powersellers complain that sustaining a minimum turnover of 20k is difficult..

3. With 135k listings on the site if there are some 20000 sellers than an average seller lists 6.75 listings. With 6/ listings i don't expect more than 2 remittances in month. (Top 3 eBay stores have over 16500 listings together.)

4. According to me out of the 12800 or 20000 (whtever!) sellers not all will have a account in a bank that charges them for NEFT transfers.

5. Having an option to withdraw our payments only on request is a good option, but for sellers like me who aren't charged by their bank there isn't any issue!

[indconcepts]

Hello techniwas,

So, if you are not being charged by your Bank for inward NEFT .... then you are hardly concerned ?

What about a Seller who receives Rs.100 through PaisaPay and is being charged Rs.28.09 by his Bank for NEFT ?

As per my knowledge ebay India is adding around 2000 Sellers every month.

Even if all these are guesses ...... ebay India would still grow by leaps and bounds.

The fact is that Sellers are definitely going to grow in huge numbers ..... and the fact is that in near Future most of the Banks would start charging for inward NEFT.

The Point is to strike the Iron when it is hot and not wait for things to get complicated. .


best regards

Umang Midha

[runalaila_in1]

Add to Indconcept's List
From April even RBI will start charging for NEFT facilitation
So expect the figure of RS. 28 to increase a bit more :)

[techniwas]

Hi Umang,

As i said, having an option to keep the remittance on hold ourselves is the best option we can hope for ...

As for the figures, i prefer eBay itself to clarify as we cant be too sure ....

Tc

[martlogic]

Hello Everyone,

This particular topic was raised on the 8th of this month and today is 15th. Thats approximately a week now that this topic is going on.

However I have not seen eBay official replying or atleast acknowledging the fact that they are or would be looking into this.

Is this what they say, that they are bothered about all the sellers and buyers who have a issue and do all possible to help.

I am a bit surprised on the fact.

Regards
Edward Katchira.
OnlineBookstall

[cochinmall]

I am sure ebay would come to a solution as everyone is at loss selling on ebay.Sellers,ebay and members.Only buyers are safe when paid through paisapay(should be given equal importance though!!!).

Ebay maybe spending a lot for transferring cash through NEFT,but they do have means to recover it too.The best possible solution is to make it like PayPal where the seller can decide when he has to transfer the cash.

PayPal has a limit of 7000rs.And Paypal transfers through NEFT system.So,charges would be deducted for PayPal transfers too.

Regards
Rahul
cochinmall