@msubearfan said:
My account switched over to managed payments on the 8th. I’m only getting charged on the item price and not the after tax amount. No issues so far. I usually get funds in my account around 4 business days after the paid sale.
@msubearfan said:
My account switched over to managed payments on the 8th. I’m only getting charged on the item price and not the after tax amount. No issues so far. I usually get funds in my account around 4 business days after the paid sale.
might wanna sharpen your pencil or replace the batteries in your calculator:
Final value fees
We charge one final value fee when your item sells, and you don't have to worry about third-party payment processing fees. This fee is calculated as a percentage of the total amount of the sale, plus $0.30 per order.
The total amount of the sale is the entire amount the buyer pays, including any handling charges, the shipping service the buyer selects, sales tax, and any other applicable fees.
@msubearfan said:
My account switched over to managed payments on the 8th. I’m only getting charged on the item price and not the after tax amount. No issues so far. I usually get funds in my account around 4 business days after the paid sale.
and "around" being the key word. 4 days seems to be the absolute perfect storm and could only feasibly apply to items sold on monday, tuesday at best.
@msubearfan said:
My account switched over to managed payments on the 8th. I’m only getting charged on the item price and not the after tax amount. No issues so far. I usually get funds in my account around 4 business days after the paid sale.
might wanna sharpen your pencil or replace the batteries in your calculator:
Final value fees
We charge one final value fee when your item sells, and you don't have to worry about third-party payment processing fees. This fee is calculated as a percentage of the total amount of the sale, plus $0.30 per order.
The total amount of the sale is the entire amount the buyer pays, including any handling charges, the shipping service the buyer selects, sales tax, and any other applicable fees.
I’m just looking at the completed transactions posted on eBay. The total value they are using to calculate fees has only been the sales price and has not included taxes. Maybe it’s an oversight that eBay will catch at some point.
I’m in no way saying this is great, I wish I was still using PayPal. Just sharing my experience so far as it seems to differ from others.
on my list of questions whenever i get that call back dating a week or so ago, but apparently items that get sold via the global shipping program are subject to 13.3% final valuation fees.
this item was sold at $599.99 w/ free shipping:
notice they also chose to hold funds from the 17 day window to the 29 day window.
and for those thinking, "i have the concierge service with my store", yes, so do i. finding an individual that is familiar with the ins and outs of the managed payments system is what is proving to be futile. my last phone call entailed a supervisor that has been there almost 10 years that couldn't tell me what would seem to be the most basic nuances of the program.
Thankfully, it's been going very smoothly for me thus far.
Business has actually increased, picked up some good new customers, as i thought that might be the case with buyers now having multiple easy to use payment options.
Another reason to love MP (enter sarcasm). I picked daily payouts to get my money quicker. It been taking Ebay multiple days to just send the payment to my bank....not daily. On the positive, my bank has always been quick, and it only take 1 day for them to process it. Now I realize that my bank is charging me $10 per transaction for ebay to deposit....about 260 business days in a year=$2600 out of my pocket. So I changed it to weekly so it's as few transactions as possible at 52 weeks=$520.
@swish54 said:
Another reason to love MP (enter sarcasm). I picked daily payouts to get my money quicker. It been taking Ebay multiple days to just send the payment to my bank....not daily. On the positive, my bank has always been quick, and it only take 1 day for them to process it. Now I realize that my bank is charging me $10 per transaction for ebay to deposit....about 260 business days in a year=$2600 out of my pocket. So I changed it to weekly so it's as few transactions as possible at 52 weeks=$520.
You better call your bank. Yes, change it to weekly. It is a direct deposit. Shouldn't cost anything. If it does....I would open another account at another bank. You don't need to pay a penny with this. I don't pay a cent for the deposits.
Ok so I am now officially in the managed payments as of Sept. 2. I have had a few items end since then and they have all been paid thru PayPal as usual. Is this normal or will it change? I though they controlled all payments?
@swish54 said:
Another reason to love MP (enter sarcasm). I picked daily payouts to get my money quicker. It been taking Ebay multiple days to just send the payment to my bank....not daily. On the positive, my bank has always been quick, and it only take 1 day for them to process it. Now I realize that my bank is charging me $10 per transaction for ebay to deposit....about 260 business days in a year=$2600 out of my pocket. So I changed it to weekly so it's as few transactions as possible at 52 weeks=$520.
Whats your bank? Talk about ripping you off yikes.
@swish54 said:
Another reason to love MP (enter sarcasm). I picked daily payouts to get my money quicker. It been taking Ebay multiple days to just send the payment to my bank....not daily. On the positive, my bank has always been quick, and it only take 1 day for them to process it. Now I realize that my bank is charging me $10 per transaction for ebay to deposit....about 260 business days in a year=$2600 out of my pocket. So I changed it to weekly so it's as few transactions as possible at 52 weeks=$520.
Whats your bank? Talk about ripping you off yikes.
It's a local bank I've been using for 30 years. I talked to them and they said the charge was because my account was not properly set up on ebays side. It is a savings account and ebay is sending to them coded as a checking account, so they have to manually go in every transaction and switch it, causing the extre fee. Called ebay to have them fix it on their end, and of course was told they couldn't and they said have my bank switch it. Ebay said their system only will work with checking accounts, not savings. I said I'm not having them use my main checking account that I pay my bills through because that would be a nightmare trying to keep the money separate from my "fun money" and bill money. So when prompted on ebay to select which account to have them use, this one was available as an option on their menu. Told him it's my 9 year old's savings account (she doesn't really use it at this point in her life anyways, so I could use it for the time being), and she clearly doesn't have checks, so why would it be an option through their system if they only are set up for checking accounts...he couldn't answer that. So in the end, I'm going to have to set up a second checking account at my bank for it to work. Which isn't a bad idea anyways since I don't want to give ebay access to my main accounts for many obvious reasons and when I'm done selling, I can just close it to keep their hands out of my money.
@swish54 said:
Another reason to love MP (enter sarcasm). I picked daily payouts to get my money quicker. It been taking Ebay multiple days to just send the payment to my bank....not daily. On the positive, my bank has always been quick, and it only take 1 day for them to process it. Now I realize that my bank is charging me $10 per transaction for ebay to deposit....about 260 business days in a year=$2600 out of my pocket. So I changed it to weekly so it's as few transactions as possible at 52 weeks=$520.
Whats your bank? Talk about ripping you off yikes.
It's a local bank I've been using for 30 years. I talked to them and they said the charge was because my account was not properly set up on ebays side. It is a savings account and ebay is sending to them coded as a checking account, so they have to manually go in every transaction and switch it, causing the extre fee. Called ebay to have them fix it on their end, and of course was told they couldn't and they said have my bank switch it. Ebay said their system only will work with checking accounts, not savings. I said I'm not having them use my main checking account that I pay my bills through because that would be a nightmare trying to keep the money separate from my "fun money" and bill money. So when prompted on ebay to select which account to have them use, this one was available as an option on their menu. Told him it's my 9 year old's savings account (she doesn't really use it at this point in her life anyways, so I could use it for the time being), and she clearly doesn't have checks, so why would it be an option through their system if they only are set up for checking accounts...he couldn't answer that. So in the end, I'm going to have to set up a second checking account at my bank for it to work. Which isn't a bad idea anyways since I don't want to give ebay access to my main accounts for many obvious reasons and when I'm done selling, I can just close it to keep their hands out of my money.
I have my paypal set up with my savings, and my credit union never charges me for any deposits.
@swish54 said:
Another reason to love MP (enter sarcasm). I picked daily payouts to get my money quicker. It been taking Ebay multiple days to just send the payment to my bank....not daily. On the positive, my bank has always been quick, and it only take 1 day for them to process it. Now I realize that my bank is charging me $10 per transaction for ebay to deposit....about 260 business days in a year=$2600 out of my pocket. So I changed it to weekly so it's as few transactions as possible at 52 weeks=$520.
Whats your bank? Talk about ripping you off yikes.
It's a local bank I've been using for 30 years. I talked to them and they said the charge was because my account was not properly set up on ebays side. It is a savings account and ebay is sending to them coded as a checking account, so they have to manually go in every transaction and switch it, causing the extre fee. Called ebay to have them fix it on their end, and of course was told they couldn't and they said have my bank switch it. Ebay said their system only will work with checking accounts, not savings. I said I'm not having them use my main checking account that I pay my bills through because that would be a nightmare trying to keep the money separate from my "fun money" and bill money. So when prompted on ebay to select which account to have them use, this one was available as an option on their menu. Told him it's my 9 year old's savings account (she doesn't really use it at this point in her life anyways, so I could use it for the time being), and she clearly doesn't have checks, so why would it be an option through their system if they only are set up for checking accounts...he couldn't answer that. So in the end, I'm going to have to set up a second checking account at my bank for it to work. Which isn't a bad idea anyways since I don't want to give ebay access to my main accounts for many obvious reasons and when I'm done selling, I can just close it to keep their hands out of my money.
I have my paypal set up with my savings, and my credit union never charges me for any deposits.
Coolstanley,
He is not talking about PAYPAL. Yes, MPs has to go to a checking account.
@blurryface said:
Yes, buyers can still pay thru paypal, for now. And they do control the payments...to you.
The funds are in my PP account so will they take them out and send to my bank account? How would that save any money since PP has already collected their fees?
If the funds are in your paypal account then you have not been officially entered into the managed payments program. you are probably just enrolled and on the brink.
@ElvisP said:
Ok so I am now officially in the managed payments as of Sept. 2. I have had a few items end since then and they have all been paid thru PayPal as usual. Is this normal or will it change? I though they controlled all payments?
Buyers can still use PayPal, but no money has gone into my PayPal account from Ebay sales since Ebay managed payments began.
I have some customers who always want to be sent a PayPal invoice. I send them the PayPal invoice and that payment money does go into my PayPal account.
@blurryface said:
Yes, buyers can still pay thru paypal, for now. And they do control the payments...to you.
The funds are in my PP account so will they take them out and send to my bank account? How would that save any money since PP has already collected their fees?
Ebay doesn't touch any money currently in your PayPal account with managed payments.
The funds are yours to use with a PayPal debit card, or if you decide to transfer the PayPal money to your bank account.
I've heard the 200 transactions and $20,000 limits are separate ??? What I mean is you could have sold 150 items for $15,000 on Ebay before MP and another 100 for $15,000 since MP's and you will not get a 1099. Concierge service told my brother this. Does anyone know anything about this?? Everything (a bunch) I've sold lately has gone in to my MP account and transferred to Checking. You mean to tell me that not 1 person has paid using PAYPAL ?? Is there a part of this process that we are not understanding?? I still feel as though there is information being withheld. Why do I and tons of others have so many questions??
@Mickey71 said:
I've heard the 200 transactions and $20,000 limits are separate ??? What I mean is you could have sold 150 items for $15,000 on Ebay before MP and another 100 for $15,000 since MP's and you will not get a 1099. Concierge service told my brother this. Does anyone know anything about this?? Everything (a bunch) I've sold lately has gone in to my MP account and transferred to Checking. You mean to tell me that not 1 person has paid using PAYPAL ?? Is there a part of this process that we are not understanding?? I still feel as though there is information being withheld. Why do I and tons of others have so many questions??
<<< Everything (a bunch) I've sold lately has gone in to my MP account and transferred to Checking. You mean to tell me that not 1 person has paid using PAYPAL ?? >>>
I misunderstood that as well. Initially i figured PayPal payments would go into my PayPal account and all other forms of payment would be done thru managed payments.
I have also sold many items on Ebay since managed payments began, and all of them have gone the managed payments route. It would have basically been impossible not to have at least a few of my orders still using PayPal for payment. Likely most of them still are using PayPal out of habit.
So that's what it is...for me at least. If it's sold on Ebay, it's going thru managed payments. Sure I would probably prefer the old way of doing it, but it's gone, so i just have to live with it. 🤷♂️
i think you're twisting the definition of "ebay managed payments". kinda similar to cancer test results coming back negative actually being a good thing.
it has nothing to do with what other buyers are using to pay with. it's you getting "paid" by ebay, hence "ebay managed payments".
this is going to be a tiered program. first for all sellers. once the sellers have all been converted, they will be forcing all the buyers to sign up. paypal will be phased out by 2023. until then, whether you are enrolled in ebay managed payments or not buyers will still be able to pay via paypal. but if they do, that money will NOT go into your paypal account. It will be held by ebay and direct deposited into your account you set up with them to do so.
all of this was in the fine print on the ebay sell-off of paypal.
@blurryface said:
i think you're twisting the definition of "ebay managed payments". kinda similar to cancer test results coming back negative actually being a good thing.
it has nothing to do with what other buyers are using to pay with. it's you getting "paid" by ebay, hence "ebay managed payments".
this is going to be a tiered program. first for all sellers. once the sellers have all been converted, they will be forcing all the buyers to sign up. paypal will be phased out by 2023. until then, whether you are enrolled in ebay managed payments or not buyers will still be able to pay via paypal. but if they do, that money will NOT go into your paypal account. It will be held by ebay and direct deposited into your account you set up with them to do so.
all of this was in the fine print on the ebay sell-off of paypal.
Blurryface,
In regards to the 1099....If a buyer pays PP and MP is taking care of it that is a MP transaction?? I'm talking about the 200/20,000 threshold stuff. So with MP, nothing will appear in my PP account as a transaction from this day forward?? I simply don't understand how this is not going to get messy for some at the end of the year.
@blurryface said:
i think you're twisting the definition of "ebay managed payments". kinda similar to cancer test results coming back negative actually being a good thing.
it has nothing to do with what other buyers are using to pay with. it's you getting "paid" by ebay, hence "ebay managed payments".
this is going to be a tiered program. first for all sellers. once the sellers have all been converted, they will be forcing all the buyers to sign up. paypal will be phased out by 2023. until then, whether you are enrolled in ebay managed payments or not buyers will still be able to pay via paypal. but if they do, that money will NOT go into your paypal account. It will be held by ebay and direct deposited into your account you set up with them to do so.
all of this was in the fine print on the ebay sell-off of paypal.
Blurryface,
In regards to the 1099....If a buyer pays PP and MP is taking care of it that is a MP transaction?? I'm talking about the 200/20,000 threshold stuff. So with MP, nothing will appear in my PP account as a transaction from this day forward?? I simply don't understand how this is not going to get messy for some at the end of the year.
Sorry, but will never answer any definitive questions in regards to anything tax related. Hope you understand.
at first I hated the wait on the deposits but now it is no big deal and it usually hits my bank the day after they send it.
My biggest gripe is the new fee, they act that it is lower. It is clearly higher now that they charge a fee on sales tax. Charging a fee on shipping I thought was crazy but understood why, sellers were manipulating things by low sales prices and high shipping. But a fee on sales tax, there is nothing to manipulate that. They are jsut taking money out of your pocket. Ebay collects the whole sales tax and remits it then takes an extra 11% of the sales tax from your sale for themselves. this part seems like a scam no matter how I look at it. Why not just charge a higher fee so I know what percentatge of my item is taken. I almost want to block buyers from California. If a California buyer buys a high dollar item , the 11% on the 10% sales tax can be sgnificant
@beachbumcollecting said:
at first I hated the wait on the deposits but now it is no big deal and it usually hits my bank the day after they send it.
My biggest gripe is the new fee, they act that it is lower. It is clearly higher now that they charge a fee on sales tax. Charging a fee on shipping I thought was crazy but understood why, sellers were manipulating things by low sales prices and high shipping. But a fee on sales tax, there is nothing to manipulate that. They are jsut taking money out of your pocket. Ebay collects the whole sales tax and remits it then takes an extra 11% of the sales tax from your sale for themselves. this part seems like a scam no matter how I look at it. Why not just charge a higher fee so I know what percentatge of my item is taken. I almost want to block buyers from California. If a California buyer buys a high dollar item , the 11% on the 10% sales tax can be sgnificant
Ouch on the California buyers. I might have to block a few of them.
they say and will quote you that ebay managed payments fee is 11%. but what ive said in the past, it basically ends up being a little shy of 12% because they are charging their fee on the taxed total.
someone tried to argue earlier that theirs was straight 11% which i still never saw proof of.
I got the updated ebay changes email today. I read the managed payments section. Says most sellers will have MP's by 2021. So that means not all sellers will be using it.
@blurryface said:
they say and will quote you that ebay managed payments fee is 11%. but what ive said in the past, it basically ends up being a little shy of 12% because they are charging their fee on the taxed total.
someone tried to argue earlier that theirs was straight 11% which i still never saw proof of.
In the first week or so when the new fee structure went int> @blurryface said:
they say and will quote you that ebay managed payments fee is 11%. but what ive said in the past, it basically ends up being a little shy of 12% because they are charging their fee on the taxed total.
someone tried to argue earlier that theirs was straight 11% which i still never saw proof of.
In the first week or so , I noticed it wasn't charging on the tax, that glitch has since been corrected.
The only saving grace is that if you are top rated , you get the 10% discount on the entire new few which brings it back down into the 11-11.5% range that it was before. The big concern is how long will that last ..........
Received the email today that I have to sign up by 10/15. August was my first month in as long as I can remember that I did not list or sell anything on eBay. Now it looks like it will be permanent
I got the email today too but the way I interpreted it is that I "should" register by October 15th so I don't have any interruptions but it also states "eBay will manage payments for most sellers by the end of 2020". Wouldn't they want all sellers on board and make it mandatory? Why leave wiggle room to not sign up by stating "most sellers". I remember getting this same email pre-covid and blew it off then and had no interruptions when the last deadline to register passed. With all the glitches and kinks that need to be fixed I will try to hold out as long as possible. Why should I sign up now for something that is a work in progress?
I feel like I'm getting hosed. Check out these fees I've been paying. Is that normal under ebay managed payments, or do I need to change my options with ebay?
@stevegarveyfan said:
I feel like I'm getting hosed. Check out these fees I've been paying. Is that normal under ebay managed payments, or do I need to change my options with ebay?
Holy crap! I loathe eBay. Sadly, it's a sheep thing. I would gladly spend 2k designing an auction site of my own, but eBay has the audience to gain new customers. They're just exceedingly greedy. Historically, greed kills everything. Obviously, at 15-20% it's no longer worth the eBay selling format.
"You've gotta be a man to play this game...but you'd better have a lot of little boy in you, too"--Roy Campanella
@stevegarveyfan said:
I feel like I'm getting hosed. Check out these fees I've been paying. Is that normal under ebay managed payments, or do I need to change my options with ebay?
do you have a store? and i haven't checked but is there a flat fee off the rip? i think paypal had .30 transaction fee then 2.9% or something like that...
@stevegarveyfan said:
I feel like I'm getting hosed. Check out these fees I've been paying. Is that normal under ebay managed payments, or do I need to change my options with ebay?
do you have a store? and i haven't checked but is there a flat fee off the rip? i think paypal had .30 transaction fee then 2.9% or something like that...
I'm not quite sure, and yes, I have a store. I'm sure that the fee is based on that fact, but I have no idea how much it would be affected.
@stevegarveyfan said:
I feel like I'm getting hosed. Check out these fees I've been paying. Is that normal under ebay managed payments, or do I need to change my options with ebay?
do you have a store? and i haven't checked but is there a flat fee off the rip? i think paypal had .30 transaction fee then 2.9% or something like that...
I'm not quite sure, and yes, I have a store. I'm sure that the fee is based on that fact, but I have no idea how much it would be affected.
not sure if any of yours above fit this criteria, but i did notice earlier that an international order via the global shipping program's fee percentage rate was higher. wasn't worth another phone call to figure out why at that point in time, but it'll piss me off again sooner than later enough to call in though, i'm sure.
I got the email and tried to sign up. Of the 1000 banks they list my credit union ain’t one of them. Can’t get passed the step to link to a bank. Will wait till I’m forced.
I sell a moderate amount -- about 2000 items per year. PayPal was very convenient and worked exceedingly well for me. I don't like change, in general, but have decided to give Managed Payments an open-minded try before judging it's effect.
It's early, but it has been clumsy and inconsistent. There are hiccups frequent enough to make me suspect of how well it will work across the board. I'm hopeful it will be streamlined a bit and some of these bugs (delays and fee errors) are fixed.
For now, I'm grateful that most of my buyers are repeats. It makes it easier to ship in a timely manner knowing they have good credit with me. If I had frequent new buyers, shipping would be a bit of a cluster #!@$ as payments are held for random amounts of time and it requires itemization to make sure you've gotten paid and money is actually there.
"You've gotta be a man to play this game...but you'd better have a lot of little boy in you, too"--Roy Campanella
Please pardon my stupidity, but can someone explain what would be different for me as a simple eBay seller with Managed Payments. I sell very little per year. Here'e the story: I have a checking account. I have a paypal account. When I sell an item, the money from the buyer goes to my paypal account. I then transfer that money from that paypal account to my checking account and after a few days, I withdraw that money with that banks's ATM card.
Now, please explain WTF will change ? Thank you !!!
@basketballcollector said:
Please pardon my stupidity, but can someone explain what would be different for me as a simple eBay seller with Managed Payments. I sell very little per year. Here'e the story: I have a checking account. I have a paypal account. When I sell an item, the money from the buyer goes to my paypal account. I then transfer that money from that paypal account to my checking account and after a few days, I withdraw that money with that banks's ATM card.
Now, please explain WTF will change ? Thank you !!!
As far as money flow is concerned, it will probably be more efficient for you, as the funds are funneled directly into your checking account. However, one main difference is that ebay holds your funds for a few days before releasing them into your checking account.
Comments
Still, 4 days vs. instant is till not good, IMHO.
might wanna sharpen your pencil or replace the batteries in your calculator:
Final value fees
We charge one final value fee when your item sells, and you don't have to worry about third-party payment processing fees. This fee is calculated as a percentage of the total amount of the sale, plus $0.30 per order.
The total amount of the sale is the entire amount the buyer pays, including any handling charges, the shipping service the buyer selects, sales tax, and any other applicable fees.
and "around" being the key word. 4 days seems to be the absolute perfect storm and could only feasibly apply to items sold on monday, tuesday at best.
I’m just looking at the completed transactions posted on eBay. The total value they are using to calculate fees has only been the sales price and has not included taxes. Maybe it’s an oversight that eBay will catch at some point.
I’m in no way saying this is great, I wish I was still using PayPal. Just sharing my experience so far as it seems to differ from others.
do you have a store?
Yes.
I don’t have a store but received an email I would be activated first of September.
on my list of questions whenever i get that call back dating a week or so ago, but apparently items that get sold via the global shipping program are subject to 13.3% final valuation fees.
this item was sold at $599.99 w/ free shipping:
notice they also chose to hold funds from the 17 day window to the 29 day window.
and for those thinking, "i have the concierge service with my store", yes, so do i. finding an individual that is familiar with the ins and outs of the managed payments system is what is proving to be futile. my last phone call entailed a supervisor that has been there almost 10 years that couldn't tell me what would seem to be the most basic nuances of the program.
Thankfully, it's been going very smoothly for me thus far.
Business has actually increased, picked up some good new customers, as i thought that might be the case with buyers now having multiple easy to use payment options.
Another reason to love MP (enter sarcasm). I picked daily payouts to get my money quicker. It been taking Ebay multiple days to just send the payment to my bank....not daily. On the positive, my bank has always been quick, and it only take 1 day for them to process it. Now I realize that my bank is charging me $10 per transaction for ebay to deposit....about 260 business days in a year=$2600 out of my pocket. So I changed it to weekly so it's as few transactions as possible at 52 weeks=$520.
You better call your bank. Yes, change it to weekly. It is a direct deposit. Shouldn't cost anything. If it does....I would open another account at another bank. You don't need to pay a penny with this. I don't pay a cent for the deposits.
Ok so I am now officially in the managed payments as of Sept. 2. I have had a few items end since then and they have all been paid thru PayPal as usual. Is this normal or will it change? I though they controlled all payments?
Yes, buyers can still pay thru paypal, for now. And they do control the payments...to you.
Whats your bank? Talk about ripping you off yikes.
Terry Bradshaw was AMAZING!!
Ignore list -Basebal21
It's a local bank I've been using for 30 years. I talked to them and they said the charge was because my account was not properly set up on ebays side. It is a savings account and ebay is sending to them coded as a checking account, so they have to manually go in every transaction and switch it, causing the extre fee. Called ebay to have them fix it on their end, and of course was told they couldn't and they said have my bank switch it. Ebay said their system only will work with checking accounts, not savings. I said I'm not having them use my main checking account that I pay my bills through because that would be a nightmare trying to keep the money separate from my "fun money" and bill money. So when prompted on ebay to select which account to have them use, this one was available as an option on their menu. Told him it's my 9 year old's savings account (she doesn't really use it at this point in her life anyways, so I could use it for the time being), and she clearly doesn't have checks, so why would it be an option through their system if they only are set up for checking accounts...he couldn't answer that. So in the end, I'm going to have to set up a second checking account at my bank for it to work. Which isn't a bad idea anyways since I don't want to give ebay access to my main accounts for many obvious reasons and when I'm done selling, I can just close it to keep their hands out of my money.
I have my paypal set up with my savings, and my credit union never charges me for any deposits.
Terry Bradshaw was AMAZING!!
Ignore list -Basebal21
Coolstanley,
He is not talking about PAYPAL. Yes, MPs has to go to a checking account.
The funds are in my PP account so will they take them out and send to my bank account? How would that save any money since PP has already collected their fees?
If the funds are in your paypal account then you have not been officially entered into the managed payments program. you are probably just enrolled and on the brink.
Buyers can still use PayPal, but no money has gone into my PayPal account from Ebay sales since Ebay managed payments began.
I have some customers who always want to be sent a PayPal invoice. I send them the PayPal invoice and that payment money does go into my PayPal account.
Ebay doesn't touch any money currently in your PayPal account with managed payments.
The funds are yours to use with a PayPal debit card, or if you decide to transfer the PayPal money to your bank account.
I've heard the 200 transactions and $20,000 limits are separate ??? What I mean is you could have sold 150 items for $15,000 on Ebay before MP and another 100 for $15,000 since MP's and you will not get a 1099. Concierge service told my brother this. Does anyone know anything about this?? Everything (a bunch) I've sold lately has gone in to my MP account and transferred to Checking. You mean to tell me that not 1 person has paid using PAYPAL ?? Is there a part of this process that we are not understanding?? I still feel as though there is information being withheld. Why do I and tons of others have so many questions??
<<< Everything (a bunch) I've sold lately has gone in to my MP account and transferred to Checking. You mean to tell me that not 1 person has paid using PAYPAL ?? >>>
I misunderstood that as well. Initially i figured PayPal payments would go into my PayPal account and all other forms of payment would be done thru managed payments.
I have also sold many items on Ebay since managed payments began, and all of them have gone the managed payments route. It would have basically been impossible not to have at least a few of my orders still using PayPal for payment. Likely most of them still are using PayPal out of habit.
So that's what it is...for me at least. If it's sold on Ebay, it's going thru managed payments. Sure I would probably prefer the old way of doing it, but it's gone, so i just have to live with it. 🤷♂️
i think you're twisting the definition of "ebay managed payments". kinda similar to cancer test results coming back negative actually being a good thing.
it has nothing to do with what other buyers are using to pay with. it's you getting "paid" by ebay, hence "ebay managed payments".
this is going to be a tiered program. first for all sellers. once the sellers have all been converted, they will be forcing all the buyers to sign up. paypal will be phased out by 2023. until then, whether you are enrolled in ebay managed payments or not buyers will still be able to pay via paypal. but if they do, that money will NOT go into your paypal account. It will be held by ebay and direct deposited into your account you set up with them to do so.
all of this was in the fine print on the ebay sell-off of paypal.
Blurryface,
In regards to the 1099....If a buyer pays PP and MP is taking care of it that is a MP transaction?? I'm talking about the 200/20,000 threshold stuff. So with MP, nothing will appear in my PP account as a transaction from this day forward?? I simply don't understand how this is not going to get messy for some at the end of the year.
Sorry, but will never answer any definitive questions in regards to anything tax related. Hope you understand.
Ive been on mp for a while. Not perfect but it’s an improvement for me:
It’s not making my life much better or worse but overall I think it’s a step in the right direction.
at first I hated the wait on the deposits but now it is no big deal and it usually hits my bank the day after they send it.
My biggest gripe is the new fee, they act that it is lower. It is clearly higher now that they charge a fee on sales tax. Charging a fee on shipping I thought was crazy but understood why, sellers were manipulating things by low sales prices and high shipping. But a fee on sales tax, there is nothing to manipulate that. They are jsut taking money out of your pocket. Ebay collects the whole sales tax and remits it then takes an extra 11% of the sales tax from your sale for themselves. this part seems like a scam no matter how I look at it. Why not just charge a higher fee so I know what percentatge of my item is taken. I almost want to block buyers from California. If a California buyer buys a high dollar item , the 11% on the 10% sales tax can be sgnificant
Ouch on the California buyers. I might have to block a few of them.
Terry Bradshaw was AMAZING!!
Ignore list -Basebal21
they say and will quote you that ebay managed payments fee is 11%. but what ive said in the past, it basically ends up being a little shy of 12% because they are charging their fee on the taxed total.
someone tried to argue earlier that theirs was straight 11% which i still never saw proof of.
I got the updated ebay changes email today. I read the managed payments section. Says most sellers will have MP's by 2021. So that means not all sellers will be using it.
Terry Bradshaw was AMAZING!!
Ignore list -Basebal21
In the first week or so when the new fee structure went int> @blurryface said:
In the first week or so , I noticed it wasn't charging on the tax, that glitch has since been corrected.
The only saving grace is that if you are top rated , you get the 10% discount on the entire new few which brings it back down into the 11-11.5% range that it was before. The big concern is how long will that last ..........
Disregard
Received the email today that I have to sign up by 10/15. August was my first month in as long as I can remember that I did not list or sell anything on eBay. Now it looks like it will be permanent
rex,
you probably won't be switched over til 12/15ish or so. there seems to be a month or two stay of execution AFTER you do the initial sign up.
big hint here: if you don't actually "verify" your bank info after signing up, you'll get another 3 months before you are forced to.
Hope this does not come to Canada... how can they charge a fee on sales tax? F-ing feebay
I got the email today too but the way I interpreted it is that I "should" register by October 15th so I don't have any interruptions but it also states "eBay will manage payments for most sellers by the end of 2020". Wouldn't they want all sellers on board and make it mandatory? Why leave wiggle room to not sign up by stating "most sellers". I remember getting this same email pre-covid and blew it off then and had no interruptions when the last deadline to register passed. With all the glitches and kinks that need to be fixed I will try to hold out as long as possible. Why should I sign up now for something that is a work in progress?
I feel like I'm getting hosed. Check out these fees I've been paying. Is that normal under ebay managed payments, or do I need to change my options with ebay?
Holy crap! I loathe eBay. Sadly, it's a sheep thing. I would gladly spend 2k designing an auction site of my own, but eBay has the audience to gain new customers. They're just exceedingly greedy. Historically, greed kills everything. Obviously, at 15-20% it's no longer worth the eBay selling format.
"You've gotta be a man to play this game...but you'd better have a lot of little boy in you, too"--Roy Campanella
do you have a store? and i haven't checked but is there a flat fee off the rip? i think paypal had .30 transaction fee then 2.9% or something like that...
I'm not quite sure, and yes, I have a store. I'm sure that the fee is based on that fact, but I have no idea how much it would be affected.
not sure if any of yours above fit this criteria, but i did notice earlier that an international order via the global shipping program's fee percentage rate was higher. wasn't worth another phone call to figure out why at that point in time, but it'll piss me off again sooner than later enough to call in though, i'm sure.
18% thats ridiculous.
Terry Bradshaw was AMAZING!!
Ignore list -Basebal21
On those low ticket items I believe the $0.30 fixed fee is what's driving up the %.
For the $5 sale, 12.35% of $5 = $0.6175 + $0.30 fixed gets to roughly the $0.91
Yes, adding the .30 to low dollar items makes a huge difference in %%.
yep, and remember your percentages are gonna vary based on what state you're selling to as the fee you pay is post sales tax.
you want customers in OR, NH or MO. the customers that reside in CA, TN, LA, WA is basically taking your fees up another 1.5%.
customers outside the us, are taking it up another 3%+ as your fee is based on what they pay in shipping, customs and import taxes.
I got the email and tried to sign up. Of the 1000 banks they list my credit union ain’t one of them. Can’t get passed the step to link to a bank. Will wait till I’m forced.
I sell a moderate amount -- about 2000 items per year. PayPal was very convenient and worked exceedingly well for me. I don't like change, in general, but have decided to give Managed Payments an open-minded try before judging it's effect.
It's early, but it has been clumsy and inconsistent. There are hiccups frequent enough to make me suspect of how well it will work across the board. I'm hopeful it will be streamlined a bit and some of these bugs (delays and fee errors) are fixed.
For now, I'm grateful that most of my buyers are repeats. It makes it easier to ship in a timely manner knowing they have good credit with me. If I had frequent new buyers, shipping would be a bit of a cluster #!@$ as payments are held for random amounts of time and it requires itemization to make sure you've gotten paid and money is actually there.
"You've gotta be a man to play this game...but you'd better have a lot of little boy in you, too"--Roy Campanella
Please pardon my stupidity, but can someone explain what would be different for me as a simple eBay seller with Managed Payments. I sell very little per year. Here'e the story: I have a checking account. I have a paypal account. When I sell an item, the money from the buyer goes to my paypal account. I then transfer that money from that paypal account to my checking account and after a few days, I withdraw that money with that banks's ATM card.
Now, please explain WTF will change ? Thank you !!!
As far as money flow is concerned, it will probably be more efficient for you, as the funds are funneled directly into your checking account. However, one main difference is that ebay holds your funds for a few days before releasing them into your checking account.