How to Withdraw Money From eBay to Your Business Account in the UK

Wondering how to withdraw money from eBay® after selling something online? This guide has you covered.

If you plan to sell locally or internationally on eBay it’s important to figure out how to get paid on eBay before you start. We’ll work through how to transfer money from eBay to a bank or dedicated business account, how long it takes and what you need to get set up. Plus, we’ll introduce Wise Business as a smart way to manage your business finances in multiple currencies.

💡Learn more about Wise Business

How to get paid on eBay

When you set up your eBay seller account you’ll connect your business bank account - or your business account from a non-bank provider like Wise Business - to receive payments from eBay. Once you start making sales, your money will be deposited into your linked account - either automatically according to the schedule you select, or on demand.

Here’s an overview of the process to get paid in eBay¹:

1. Order is completed, and the buyer pays
2. Funds are marked as processing in eBay’s Seller hub
3. Once the customer money is received by eBay the funds are marked as available in Seller hub
4. Payout is initiated according to your preferred schedule or on demand
5. Funds arrive in your bank or business account 0 to 4 days after the payment is initiated

Don’t forget, there are eBay seller fees² to pay once you’ve successfully completed an eBay transaction. The costs are deducted automatically from the amount that’s deposited to your bank account, so you don’t need to make any manual transfers to cover the fee payments.

eBay seller fees vary greatly depending on the package you pick - which means you can select the best option depending on how many items you expect to list every month. Options include a pay as you sell model, in which you pay a small fee for every listed item, or packages that have monthly costs but which come with some free listings.

There’s then a final value fee to pay, which is a percentage of the sale price and which varies depending on the category you’re selling in. Make sure you’ve checked out all the eBay seller fees in detail before you list and sell any items, so there are no surprises.

How long does it take to get paid on eBay?

As we’ve seen, there are a few different steps involved in making eBay funds available for payout. The length of time it takes to get your money may vary a bit because of this.

When you configure your eBay account you can choose to get your money paid out daily, weekly, every two weeks, or monthly. Or you can choose to withdraw money from eBay on demand if you’d prefer. If you have an automated payment schedule and need your funds sooner, you can still ask for a withdrawal on demand, unless you’re set up for daily payouts already as this is the fastest available eBay payout option.

In most cases, it’ll take a day from the point the customer pays, for money to be marked in your account as available for payout. It then takes 2 days to initiate the payment - so if you’re paid weekly, for example, the payment is initiated on a Tuesday to cover the sales from Monday to Sunday the previous week.

Once eBay has initiated the payment the money is marked in your account as Funds sent - and it can take from 0 to 4 business days for the money to be deposited to your account from that point.

Setting up your eBay payments account

When you set up your eBay seller account you’ll be asked to link a bank account. You can also change or connect different accounts and cards if you want to update your preferences later³.

To get started, here’s how to add a bank account to your eBay account⁴:

1. Log into My eBay and go to Payments
2. Select Add payment option, then Bank account.
3. Select Continue and follow the prompts to link your bank account

You may be able to link your bank account by entering your account details or by signing into your online banking service to verify your account.

Once you have a bank account linked to your eBay, you can make a withdrawal. Here’s how to set up and change the frequency of eBay payouts to your linked bank account.

1. Log in and go to the Payments tab in Seller hub
2. Select Payout Settings and select daily, weekly, fortnightly, or monthly payouts as needed

How to transfer money from eBay to my bank account?

As we’ve mentioned, eBay sellers can request a payout on demand, even if they opt for a weekly or monthly payments schedule. That means you can get your money moving faster if needed - although it’s important to remember that even a withdrawal on demand will take several days to land in your bank account once it's initiated.

Here’s how to request an eBay payout on demand:

1. Log into My eBay and go to Payments
2. Select Withdraw
3. Enter the amount to withdraw and confirm

Manage your business finances easily with Wise Business

Unfortunately, at this moment you cannot withdraw money from eBay directly into your GBP Wise account. However, after withdrawing your well deserved earnings if you need to make payments for international suppliers, you can benefit from a Wise Business Multi-currency account.

With Wise you’ll always get the real, mid-market exchange rate – with no expensive mark-up slapped on top. You can then use your multi-currency account to pay for international bills, online services and suppliers to help grow your business.

Get started with Wise Business 🚀

eBay is a great way to start selling online with low overheads and huge flexibility. But before you start, it’s important to work out how you withdraw your money from eBay once you start to earn. This guide should be enough to get everything set up - plus, you might want to have a look at Wise Business as a smart way to manage your incoming and outgoing payments across currencies more easily.

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Sources last checked June 26, 2023