@amwldcoin said:
The only temporary positive to managed payments IMHO is payment processing fees are refunded for now. I wonder how long that will last.
The rates are also slightly lower.
I'm not sure there are any big negatives, however.
@jmlanzaf said:
Very little changes with managed payments other than the way you get you money. Rather than going into your PayPal account immediately and then needing to be transferred to your bank account, if you want to withdraw it, the money goes into your checking account (after a couple days) where you then might need to transfer it to your PayPal account if you wish.
Ok- I'll admit to being lazy for not trying to find the answer myself first, but do you know how the timing of the transfer from eBay to your checking account works? Every day? Every week? Not until you request it? Or???
@jmlanzaf said:
Very little changes with managed payments other than the way you get you money. Rather than going into your PayPal account immediately and then needing to be transferred to your bank account, if you want to withdraw it, the money goes into your checking account (after a couple days) where you then might need to transfer it to your PayPal account if you wish.
Ok- I'll admit to being lazy for not trying to find the answer myself first, but do you know how the timing of the transfer from eBay to your checking account works? Every day? Every week? Not until you request it? Or???
The managed payment system will get those fees back to eBay, so they can increase their bottom line. At this juncture, it is not about the consumer. This is just a tug of war for 'what's in "our" wallet'. ...when the dust settles, it is the consumer who gets less for more.
Ebay has for years been eating losses on claims while PP collected the fee to cover those claims. Can't blame ebay for wanting the "insurance premium" when they are the one who ends up eating the loses.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Very little changes with managed payments other than the way you get you money. Rather than going into your PayPal account immediately and then needing to be transferred to your bank account, if you want to withdraw it, the money goes into your checking account (after a couple days) where you then might need to transfer it to your PayPal account if you wish.
Very big change on your money being held from you. I predict this will be a large complaint in future forum discussions once managed payment is the law of the land for everyone.
Very little changes with managed payments other than the way you get you money. Rather than going into your PayPal account immediately and then needing to be transferred to your bank account, if you want to withdraw it, the money goes into your checking account (after a couple days) where you then might need to transfer it to your PayPal account if you wish.
Very big change on your money being held from you. I predict this will be a large complaint in future forum discussions once managed payment is the law of the land for everyone.
Very little changes with managed payments other than the way you get you money. Rather than going into your PayPal account immediately and then needing to be transferred to your bank account, if you want to withdraw it, the money goes into your checking account (after a couple days) where you then might need to transfer it to your PayPal account if you wish.
Very big change on your money being held from you. I predict this will be a large complaint in future forum discussions once managed payment is the law of the land for everyone.
Ebay has many more reasons to hold your money than does paypal. With ebay now in possession of your money there is a much greater chance for a hold on some of the funds.
No Way Out: Stimulus and Money Printing Are the Only Path Left
@djm said: @MasonG Did you ever get your bank account verified for managed payments?
Not yet. I don't know what eBay's problem is- they've got the necessary information. PayPal didn't have any trouble verifying the account. It's almost like the people working at eBay don't really know what they're doing.
Very little changes with managed payments other than the way you get you money. Rather than going into your PayPal account immediately and then needing to be transferred to your bank account, if you want to withdraw it, the money goes into your checking account (after a couple days) where you then might need to transfer it to your PayPal account if you wish.
Very big change on your money being held from you. I predict this will be a large complaint in future forum discussions once managed payment is the law of the land for everyone.
Ebay has many more reasons to hold your money than does paypal. With ebay now in possession of your money there is a much greater chance for a hold on some of the funds.
@djm said: @MasonG Did you ever get your bank account verified for managed payments?
Not yet. I don't know what eBay's problem is- they've got the necessary information. PayPal didn't have any trouble verifying the account. It's almost like the people working at eBay don't really know what they're doing.
@hiijacker said:
Was 6.15% + 2.9% = 9.05%, now 11.5% total.
That is a 27% Increase in total fees!!!
Again, that is not the declared rate for coins.
It's pretty close, when considering PP fees. The managed payment system will get those fees back to eBay, so they can increase their bottom line. At this juncture, it is not about the consumer. This is just a tug of war for 'what's in "our" wallet'. ...when the dust settles, it is the consumer who gets less for more.
If you look at all other categories that have had their rates declared both before and after managed payments, the managed payments typically resulted in a rate that is a tenth or two lower than the current rate.
I think you are double counting the PP fees. The current coin rate is 6.15% with a store (which is what we were talking about). If you add in the PP fees (2.9%+0.30), the current (pre-managed payment) rate for coins is 9.05% I would expect the managed payment rate to end up in the 9% area also, based on all the other categories that have their own rates.
If you want to use the non-store rate, you get a current number that is closer to 13%.
So, you can complain about the 9% (or 13%) rate being too high. But it also means that it hasn't changed from what it is now.
Managed payments is slightly cheaper than PayPal for inexpensive items and TREMENDOUSLY cheaper for expensive items as the rate drops to 2.5% TOTAL for the price over $2500.
There is no coin rate, whuich means the default rate is 11.5% That is a 27% fee increase.
@hiijacker said:
Was 6.15% + 2.9% = 9.05%, now 11.5% total.
That is a 27% Increase in total fees!!!
Again, that is not the declared rate for coins.
It's pretty close, when considering PP fees. The managed payment system will get those fees back to eBay, so they can increase their bottom line. At this juncture, it is not about the consumer. This is just a tug of war for 'what's in "our" wallet'. ...when the dust settles, it is the consumer who gets less for more.
If you look at all other categories that have had their rates declared both before and after managed payments, the managed payments typically resulted in a rate that is a tenth or two lower than the current rate.
I think you are double counting the PP fees. The current coin rate is 6.15% with a store (which is what we were talking about). If you add in the PP fees (2.9%+0.30), the current (pre-managed payment) rate for coins is 9.05% I would expect the managed payment rate to end up in the 9% area also, based on all the other categories that have their own rates.
If you want to use the non-store rate, you get a current number that is closer to 13%.
So, you can complain about the 9% (or 13%) rate being too high. But it also means that it hasn't changed from what it is now.
Managed payments is slightly cheaper than PayPal for inexpensive items and TREMENDOUSLY cheaper for expensive items as the rate drops to 2.5% TOTAL for the price over $2500.
There is no coin rate, whuich means the default rate is 11.5% That is a 27% fee increase.
The only reason there is no coin rate yet is because you currently can't sell coins with managed payments. Is not being added till the end of the month.
@jmlanzaf said:
The only reason there is no coin rate yet is because you currently can't sell coins with managed payments. Is not being added till the end of the month.
Got another email from eBay...
"Starting January 13, 2021, sellers in the Coins & Paper Money categories, including Bullion, will be notified to register or will be activated for managed payments if you’ve already pre-registered."
@jmlanzaf said:
The only reason there is no coin rate yet is because you currently can't sell coins with managed payments. Is not being added till the end of the month.
Got another email from eBay...
"Starting January 13, 2021, sellers in the Coins & Paper Money categories, including Bullion, will be notified to register or will be activated for managed payments if you’ve already pre-registered."
Yes, that's the original one I got because I had already registered. Im going to be turned on soon. Im kind of interested to see how it goes.
@hiijacker said:
Bottom line. I received the message from ebay to register for managed payments. Should I hold off as long as possiblle, or should I register now?
Start now! There are problems verifying banks accounts... If your bank is not on their list or if you have a bank that has multi-levels of security required to log on. It also may be a problem if you are registered on eBay with one name and your bank account is in another i.e. Rick vs. Richard or Richard vs Richard J.
@hiijacker said:
Bottom line. I received the message from ebay to register for managed payments. Should I hold off as long as possiblle, or should I register now?
I really didn't see any reason to hold off. But I'd prefer to be early. Other people prefer to be late.
Comments
The rates are also slightly lower.
I'm not sure there are any big negatives, however.
I mostly view it as a non-event.
Thanks for the link. I was hoping there'd be a way to avoid having automatic transfers made every day, once a week isn't too bad.
Yes, that's my plan once I finish setting it up. That's what I normally do with PayPal.
Ebay has for years been eating losses on claims while PP collected the fee to cover those claims. Can't blame ebay for wanting the "insurance premium" when they are the one who ends up eating the loses.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Very big change on your money being held from you. I predict this will be a large complaint in future forum discussions once managed payment is the law of the land for everyone.
Ebay can hold on your money for numerous reasons.
No Way Out: Stimulus and Money Printing Are the Only Path Left
PayPal already does the same thing.
https://www.paypal.com/us/brc/article/funds-availability#:~:text=How long will PayPal hold your funds for?,and reserves we may place on your account.
@MasonG Did you ever get your bank account verified for managed payments?
Mine won't verify either. I'm thinking I'll have to get a burner bank account for managed payments.
Ebay has many more reasons to hold your money than does paypal. With ebay now in possession of your money there is a much greater chance for a hold on some of the funds.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Not yet. I don't know what eBay's problem is- they've got the necessary information. PayPal didn't have any trouble verifying the account. It's almost like the people working at eBay don't really know what they're doing.
Disagree
They did verify mine without difficulty
There is no coin rate, whuich means the default rate is 11.5% That is a 27% fee increase.
Cashback from Mr. Rebates
The only reason there is no coin rate yet is because you currently can't sell coins with managed payments. Is not being added till the end of the month.
Got another email from eBay...
"Starting January 13, 2021, sellers in the Coins & Paper Money categories, including Bullion, will be notified to register or will be activated for managed payments if you’ve already pre-registered."
Yes, that's the original one I got because I had already registered. Im going to be turned on soon. Im kind of interested to see how it goes.
I'm interested to see if they can figure out how to verify my checking account.
LOL. Oh, sooner or later...
Bottom line. I received the message from ebay to register for managed payments. Should I hold off as long as possiblle, or should I register now?
Cashback from Mr. Rebates
eBay basically told me to wait until July
Start now! There are problems verifying banks accounts... If your bank is not on their list or if you have a bank that has multi-levels of security required to log on. It also may be a problem if you are registered on eBay with one name and your bank account is in another i.e. Rick vs. Richard or Richard vs Richard J.
I really didn't see any reason to hold off. But I'd prefer to be early. Other people prefer to be late.