Ebay Managed Payments
ElvisP
Posts: 1,066 ✭✭✭
I have received several emails the last few days saying I must move to Ebay managed payments by July. Anyone else? I know they tried this last year but it went away. Is anyone currently enrolled in this and if so, how is it going and do you like or dislike? Thanks in advance!
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July is the latest you can add eBay managed payments. If you do not, you will no longer be able to add or edit lisitngs on eBay. They are rolling this out in waves. I was in the March wave. Because I wanted to add some new listings, I had to add it.
Ebay is basically now offering a payment processing option (whereas before it was Paypal which is now no longer part of eBay).
So far, it's fine but you don't get your $ as fast. It's 1-2 days post payment to get eBay to send to my bank, and then another 3 days between transfer to being available in my bank account. They do transfer it automatically.
You're not going to have a choice in the matter if you want to continue selling on eBay, unfortunately.
Thanks much. That was what I was afraid of. I really liked having cash in my PP account away from my checking account but I guess that will no longer be possible. It was a good way of keeping things seperate, sort of like a savings account. It says that it saves the seller money. Is that true?
It's 2.7% plus $0.25 fee per transaction. Paypal is 2.9% plus $0.30 fee per transaction. Another difference is that the full purchase amount flows through to your bank account vs. paypal proceeds netting out the processing fee. This means your eBay fees are going to look a lot higher because they now have the FVF and processing (2.7%) and per listing ($0.25) fee. But that means you get to keep your gross revenues longer before paying the cc bill (which is great).
Note: I think people can still pay using paypal, but my experience so far is every sale I've made since implementing has been eBay managed payment because to use paypal you have to override default payment method and log into paypal and then pay. eBay purposefully makes it harder because they want to process the transaction.
So if we have a store with 500 listings right now and have to change to Managed Payments, do we need to do alot of work? Do I have to edit my listings or something? Just wondering how much arse pain this is going to be. I also wonder are buyers being turned off by this change?
No you just sign up for it and it automatically flows through your listings. Took about 3 minutes to sign up and then it was live
If im a buyer and want to use PayPal, I still can. But this service makes it so I can use the exact same credit card but pay directly (vs through PayPal)
I've gotten the same emails from them about needing to accept by July as well. I'm set in my ways and don't like change, so not looking forward to not having my money in my account until days later and after I mail out the product.
I am ok with it Been on it since it started.
Thanks everyone. I noticed it says most Ebay sellers will be moved by the end of 2020. So far my wife’s account has not seen any notification of this.
Can i use my Venmo account as my bank choice?
I have to much S**t; so if you working on sets or are a player/team collector, send me your want list, with conditions desired. Keep in mind I have a another job so please allow me a few days to respond.
I am a small seller and i have not received a notification.
Terry Bradshaw was AMAZING!!
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I have not received anything either. I will cease selling on eBay the moment they make this mandatory for me.
So I bought a card and after 3 days I asked if the card was shipped and the response was that he just received payment and would ship tomorrow saying ebays new managed payment delays getting paid 2-3 days. Is this how it works? Now sellers will wait to ship until payment shows up in their bank accounts?
I'm sure that will be the new norm with many sellers. Takes money to ship packages lol.
Terry Bradshaw was AMAZING!!
Ignore list -Basebal21
Another reason not to like this. I always expect shipment within a day, 2 at most and I always ship within a day if not same day. Does eBay not notify the seller that payment has been received and ok to ship now like they normally do even though you won’t get the money for 2-3 days?
I have not switched to managed payments yet. I have always shipped the same day, if not, then the next day at the latest. Even though all my listings have 3 days shipping and handling box checked. One of my highest feedbacks are the fast shipping service I provide. With eBay holding up the funds, I may have to use the full 3 days before I ship.