Ebay dropping paypal to go to a managed payments system. No more Coins on ebay?
rec78
Posts: 5,621 ✭✭✭✭✭
Hi, I heard that ebay is dropping paypal to go to a managed payments system. Here is the list of restricted items under the new system. ************
Sellers enrolled in managed payments are not allowed to list the following items:
Adult only items, including movies, video games, and photographs
Auction services
Bullion
Coins & paper money (only Exonumia, and Publications & Supplies are allowed)
Gift cards & coupons
Lodging, timeshares, vacation packages, and car rentals
Memberships for campground and RV parks
Motor vehicles
Tickets for travel, events, or experiences
Wine
Eventually all sellers will be required to use this system from what I understand. Does this mean no more coins on ebay?? Please tell me I am wrong!
.
**If I don’t register now, what happens?
Managed payments enhances the buying and selling experience on eBay. eBay will manage payments for most of its marketplace sellers by 2021, and all sellers will eventually be required to have eBay manage their payments in order to keep selling on eBay. If you receive a notification, we encourage you to register before the deadline to avoid any business interruption.
Registration allows you to get your business ready early for managed payments. You can register in a few simple steps, including verifying your business information and providing a bank account. You will be able to track your registration progress on the Payments tab in Seller Hub.**
Comments
That would not be a smart move, but who said that they were smart?
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I have contacted them before. They said that they will be making changes and hopefully will have coins and paper money to be sold in the near future. Something about needing approval some somewhere that I don’t get.
Young Numismatist/collector
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This news is months old. There are a couple threads on here already discussing it. eBay has said they are NOT stopping the sales of coins.
I wonder if they will be legally able to drop PAYPAL
There must be some legal complexities involved.... I am sure it will all work out - in favor of ebay.
Cheers, RickO
I had a sense of déjà vu!
https://forums.collectors.com/discussion/1040614/ebay-managed-payments/p1
https://forums.collectors.com/discussion/comment/12735053#Comment_12735053
https://forums.collectors.com/discussion/comment/12678627#Comment_12678627
Ancient news....refer to the above posted threads.....
Hey! I just learned that the barbarians sacked Rome...it was news to me.
Obviously you flunked World History in H.S.
IMO there is a coin drought on eBay right now.
Once eBay allows coins on MP, I hope it opens up the flood gates.
Maybe. I think there are a lot of factors at play here.
It's actually an incredibly simple concept...Please, allow me to dramatically over-simplify it!
During the pandemic it's become especially clear to credit card companies that people are buying coins and bullion using their credit...in the eyes of the credit companies this is very much the same as a cash advance.
Most major credit card companies will begin enforcing new policies in 2021 that treat the purchase of (especially bullion) coins and precious metal items just like taking a cash advance.
I suspect that ebay will bring it back with a higher interest rate for those purchases, which is exactly what happens when cash advances are taken instead of making purchases with credit.
Coins are Neato!
"If it's a penny for your thoughts and you put in your two cents worth, then someone...somewhere...is making a penny." - Steven Wright
Amex came out and said exactly what you stated as it applies to purchases for bullion
100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21
Digital/electronic paying is the norm. They keep charging me to use it. That's biz. Coins get no respect.
It would be a death blow to online numismatic sellers. Many depend on their online income there help make ends meet. Another blow to average people. In that event what online venues have some of you considered?
Yes many buying coins / bullion on cc then usually defaulting whether intentional or overwhelmed. Only a fool would believe you can overcome the high cc interest from making money gambling on coins and bullion.
While fees from the Coin sales may not be a large percentage of the ebay revenue stream, it's probably large enough that they don't want to lose it. With as good as they are at nickel and diming everything, I would be very surprised if they don't have a fix in place before they require everyone to be on managed payments
Old news...Paypal will remain an option until coins can be included in managed payments.
Early American Copper, Bust and Seated.
I was concerned for a minute there. Why is it I sometimes feel like a mushroom? Kept in the dark and fed **.....
True, although I'm waiting for PayPal to take the same steps against the purchase of bullion.
My paypal still works for purchases on eBay although I stopped buying bullion there due to the high prices. God bless the Commonwealth!
The whole worlds off its rocker, buy Gold™.
PayPal sent me a message some time ago that they will no longer offer seller protections on gold/bullion sales.
I know. But they can go one step further and refuse to process payments for bullion. That is the managed payments problem. The company running it doesn't want to process payments for coins and bullions, among a few other categories. PayPal is basically the same type of operation.
Is this thread a rehash from earlier in FEb 2020?
"In 2021 eBay will no longer allow the sale or purchase of Coins, Motor Vehicles, or Bullion
Feb 10, 2020 12:09:22 PM
Managed Payments is to be fully implemented by 2021 requiring ALL Sellers to be enrolled. Among several Items that will NOT be allowed in te Managed Payment System, are, Coins & Paper Money, Motor Vehicles, and Bullion. Obviously, if sellers can't sell them, then there won't be any listed to purchase.... Dahh!"
Meanwhile in June....2020
https://www.coinworld.com/news/precious-metals/officials-confirm-that-ebay-is-not-ending-sales-of-coins
In case anybody's wondering, I just switched over to "Managed Payments" because after receiving an email from Ebay, I called customer service and was told that if I didn't, my listings may not show up on the site. As soon as I completed the registration confirming the switch I received another message -
We've removed your listing(s) because they don't meet eBay's managed payments requirements.
These listings have been removed, and we credited the listing fees back to you. You can find these items in the Unsold Items section.
Here's a list of the items that were removed:
164483931030 - Australia Florin 1912
164483905008 - 1936 AUSTRALIA ONE FLORIN - TWO SHILLINGS
Great, so now I can't list coins and instead of receiving instant payments I have to wait 1-4 days for the payment to clear. I assume that this will also slow the shipping times because sellers will be waiting for the payment to clear before shipping.
Sometimes I think that animals are smarter than humans, animals would never allow the dumbest one to lead the pack
I just got a recording call from eBay saying that I need to switch to managed payment by July?? Did I hear that right?? I wasn't really paying attention and I thought I heard July.
Better than January for sure.
The email said January. I didn't get a call
I am 100% coins and pay eBay quite a bit each month.
I am almost certain I heard July, just not 100% certain, thus the question if anyone else has heard July.
If it’s not in writing, it doesn’t matter. And if it is in writing, it might not matter.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I am 100% coins on the one account. But, like I said, I only got an email, no call.
I'm preregistered and have not been notified. They are supposed to give 2 weeks notice before activating. I wish this ebay grab would fail! I don't like ebay controlling every aspect of a transaction.
Coins and bullion will be allowed via managed payments as of January 25, 2021
I got a call yesterday, was told the deadline was past and I needed to sign up. Last night, I went to sign up. My bank isn't in their list but I provided account info as they requested. A few minutes later, I got an email saying that I was added to the list for Managed Payments and would be activated shortly. A few minutes after that, I got an email that said they couldn't confirm my bank account, and to upload a scan of a recent statement. I did that, and a while later got another email that said they couldn't confirm my account from the statement.
Forget it, Jake- it's eBay.
I had the call today also......July.....
Does anyone know the fee incurred with so called 'managed-payments' ?
Less than paypal
It's going to be a lot less for me if they can't figure a way to sign me up with the routing and account number I sent them.
Lol. Although to be fair, they haven't posted the coin rate. But the other categories are marginally lower.
The people handling this must be stupid! Most banks don't put full account numbers on statements, as a security feature if your statement gets stolen from your mail box or trash.
Forget it, Jake- it's eBay.
Now, more than ever, ebay needs some serious, legitimate competition.
Most of the existing competitors have their own managed payments. It's just a payment processor. In fact, this is less monopolistic than the PayPal era. You had to use PayPal. Now, a buyer doesn't even need to have a PayPal account. They can use PayPal if they want, but they can also just use a credit card or Apple Pay or Google Pay.
Amazon uses "managed payments", fo you want to reform them also?
I just want to sign up as eBay has instructed I must and be done with it. It would be helpful if eBay knew how to arrange for that to happen, using the information they requested, that I provided to them.
I have not been able to find hardly any coins worth buying on ebay lately. Not sure if stock is way down because of this issue or others.
eBay CS is the worst. I called TWICE today over a package that they returned to me. Actually, maybe I should explain:
I shipped a package to UK via eBay International Standard. It goes to Kentucky, they are supposed to put a new label on it and transship to UK. Somehow, they shipped it back to me.
Since I received no email or explanation for the return, I assumed it could simply be a mistake. So, I call them. The first guy told me twice that the return was on USPS not them even though I explained THREE times that they had put a new shipping label on it. It wasn't marked "return to sender". When he finally understands, he says he'll talk to their "logistics" to find out why.
After 25 minutes he says he can't contact them from his phone so I should call back.
So, I call back. The second guy understands the problem more quickly but he says it could be a customs problem or an address problem. I say, can't you see why? He says "no", he still needs to talk to "logistics" but that they don't have a phone!!! He said he can email them and have them look into it. We go back and forth on this until I'm almost screaming, "you keep making up reasons it COULD have come back, but you have no evidence for any of them. How about you just accidentally put the wrong label on it?" He said, "could be"
Now, he's defeated but still can't help. So he says what do I want to do. I said it's a $35 transaction and it wasn't even worth the hour I spent with you. But I'm out $13 shipping. If it's not worth your time, cancel the transaction, refund the buyer and send me $13. OR If there is no reason why it can't get shipped to the customer, send me a shipping label for the customer. He said, that has to go through "logistics".
I'm still doubtful that it isn't possible for CS to call someone at logistics. I even said to him that after logistics emailed me, I'd still have to call him. How is that efficient for the company? I said, there must be some way for you to call them directly. He insists not.
LMFAO
So, I spent an hour on the phone. I need to wait for an email so I can spend another 20 minutes on the phone, all to get my $13 back.
Where's @ErrorsOnCoins? LOL.
That's what happens when you don't get those cover sheets on the TPS reports.
You KNOW better than to call eBay customer service.
I only call PayPal customer service and it looks like I got until July
Sounds like the eBay CS Rep is trying to a good job, but you are being difficult.
The CS Rep's job is to make sure you never call again.
Method of payment isn't the only issue with ebay IMHO.
I can't call PayPal over an eBay shipping problem.