$20 Payout limit no longer available.

[ehdonhon]

I received an e-mail from Sedo the other day letting me know that my payout limit for parking had been automatically raised to $250. They acted like this was some kind of service that they were doing for me, blaming bank transaction rates. They told me that I could log back in to reset my limit if I didn't want that limit.

To my dismay, when I logged back in, I discovered that the $20 payout limit that I had previously used was no longer available. Now, I have to wait till I accrue $50 before I get a payment. That really sucks for me, because my monthly earnings right now are very close to $20.

Its one thing to take a feature away from your customers. Its an entirely other thing to take a feature away from your customers and try to pretend that you are doing them some sort of favor. Come on guys, how stupid do you think we are? If somebody is having problems with wire transfer fees, then give them the OPTION of raising their threshold. All of my transaction rates are percentage based anyway. You haven't done me any favors.

It is obvious to me that this is a money saving move on the part of SEDO. In my opinion, they should at least have the integrity to say so instead of trying to hide it.

-Dan

 

[greggish]

Could you post a copy of the email they sent you? I'm curious as to the wording they used thats makes you say "They acted like this was some kind of service that they were doing for me".

 

[ehdonhon]

Could you post a copy of the email they sent you? I'm curious as to the wording they used thats makes you say "They acted like this was some kind of service that they were doing for me".

Yes, here is what they sent me:

Subject: Parking pay-out
From: "Sedo Support" <[email protected]>
Date: Mon, August 1, 2005 5:44 am

Dear Sedo Customer,
Are you ever annoyed by the high bank fees incurred with each Parking pay-out? Sedo is now offering you the opportunity to choose your own pay-out limit. As of now, the standard pay-out limit has been set at 250 EUR for your account. In this way, your parking revenue will no longer be greatly reduced by bank charges.

If you still wish to remain at your old pay-out limit, you can alter it at any time. If you want to accept 250 EUR as your new pay-out limit you do not need to take any further action.

Kind regards,
Sedo GmbH
Accounts

The important thing to note is that even though they do suggest that it is possible to "remain at your old pay-out limit", that isn't actually true if your old payout limit was $20. In fact, it is funny that in their web site now, they have a big warning saying that $50 is not recommended.

 

[greggish]

That is a bit underhanded. I wonder if you can still use the $20 limit for mailed checks. On the website it only specifically says the $20 limit is still good for paypal...

"Conveniently receive your monthly payments via Paypal once your earnings have reached only $20! If you do not have paypal we can send you an international wire transfer, anywhere in the world at no additional cost (earnings must reach $50 for wire transfer payments)."

 

[ehdonhon]

On the website it only specifically says the $20 limit is still good for paypal...

I missed that on the web site. I do use paypal, but the $20 option was not there for me.

After further investigation, it turns out that when you select "Pay > $1000 via check, otherwise use paypal", $50 is you lowest option. But, if you select "Always use paypal", then $20 is your lowest option.

I'm not sure why one should be any different from the other. I guess I don't need to worry until I sell my first $1,000 domain.

-Dan

 

[SedoCoUk]

Hello all,

I just wanted to clarify the new payment options. You are absolutely free to keep things as they were. There is just now the added option of waiting to accrue more revenue before we issue a payment.

The new option makes the most sense for customers who receive their payments by bank wire and are looking to avoid fees for wires of smaller amounts. This way, for example, they can be paid in one installment for 3 months of parking revenue and only worry about fees assessed by their bank once as opposed to a bank fee for 3 separate payments by wire.

For US customers who elect payment via check or Paypal there is a $20 minimum and a $50 minimum for bank wire for all customers.

Jay
[email protected]

 

[ehdonhon]

You are absolutely free to keep things as they were. There is just now the added option of waiting to accrue more revenue before we issue a payment.

But the point is people are free to set things back the way they were, not "keep things as they were". More options is fine. But when you start adjusting everybody's settings on the assumption that they will want it, you've crossed a line.

The new option makes the most sense for customers who receive their payments by bank wire and are looking to avoid fees for wires of smaller amounts.

Ok, fine. But that still doesn't explain why it is that you decided to change customer settings. It especially doesn't explain why my settings were updated when I don't even receive payments by wire.

All in all, I'm a lot less concerned about this issue now that I have managed to figure out how to put my settings back the way they were. Nevertheless, I still think is was a poor customer service move on the part of Sedo to make this change to the payment preferences of their customers without seeking permission first. While the feature may be nice to some people, the way it was introduced was just lousy.

For US customers who elect payment via check or Paypal there is a $20 minimum

But only if you know to choose the correct Paypal option from the menu. There are three options for Paypal in the payment details menu. Not all of them allow the $20 minimum. This was the source of my initial frustration.

-Dan

 

[SedoCoUk]

Hello again,

Yes, you are correct. I apologize for the confusion. There is a bug and request has been made to our tech team to fix it as soon as possible. You should be able to choose "Pay > $1,000 via check or wire, otherwise Paypal" and still set a $20 minimum payout.

Jay
[email protected]