eBay announces huge change to fees - and it will save buyers money

eBay has made a major change to its fees - and it means buyers will pay less. The online selling platform has reduced its Buyer Protection fee from 75p to 10p.

There are also changes to what percentage customers will pay on their items, with a new tiered structure now in place. Buyers previously paid 4% of the item price up to £300, and 2% on any portion between £300 and £4,000.

Now, eBay users will pay 7% of the item price up to £20, 4% on any portion between £20 and £300, and 2% on any portion between £300 to £4,000. There is no fee if the item is worth over £4,000.

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Under the old fee structure, an item worth £10 would have incurred £1.15 in charges, but this is now reduced to 80p. An item that sold for £100 would have incurred £4.75 in fees and this has now been cut down to £4.70.

The fees apply to all listings apart from cars, motorcycles and vehicles, classified ads and property. If you are purchasing more than one of the same item, you will only pay the 10p flat fee once.

eBay is also introducing faster payments for some sellers from August 6.

If you have made at least ten sales totalling £150 or more in the previous five days, and have no more than two unresolved cases - so if there has been a dispute - in the previous 12 months, you will receive your sale money within 24 hours of a sale.

Sellers currently have to wait two days after delivery confirmation to receive their funds. eBay removed all selling fees in October last year, meaning sellers keep more of the cash they make through the website, as they no longer pay final value fees, regulatory operating fees, or an insertion fee when they sell on eBay.

Sellers fees are still be in place for car, motorcycle and vehicle listings. The site removed selling fees on all fashion items early last year. It comes after eBay introduced its new “Simple Delivery” as its default method of postage.

“Simple Delivery” sees eBay calculate the size of your parcel to come up with a postage price - then once it sells, you have to take your item to your nearest carrier location or schedule a home delivery.

Sellers are given a QR code or label to print off by eBay to post their item. There are some listings where you won’t have to use “Simple Delivery” including low-priced items, bulky items, and items that are for local pick-up.