Ebay managed payment fees for coins are now listed

jmlanzaf

12.35% with no store. 8.5% with a store.

Cheaper than ebay with PayPal which would be 12.9% and 9.05%.

FYI

ctf_error_coins

If a buyer pays with Paypal, does the payment go to your PayPal account or your bank account?

jmlanzaf

@ErrorsOnCoins said:
If a buyer pays with Paypal, does the payment go to your PayPal account or your bank account?

Should go to your bank account.

bronzemat

@ErrorsOnCoins said:
If a buyer pays with Paypal, does the payment go to your PayPal account or your bank account?

It goes to your bank account & it takes awhile.

Took 4 days for my payment to arrive into my account.

What's annoying is if your selling, & use ebay shipping, it comes out of your paypal/bank account where before you could at least use the buyer's payment as part of paying for shipping should you use free shipping.

jmlanzaf

@bronzemat said:

@ErrorsOnCoins said:
If a buyer pays with Paypal, does the payment go to your PayPal account or your bank account?

It goes to your bank account & it takes awhile.

Took 4 days for my payment to arrive into my account.

What's annoying is if your selling, & use ebay shipping, it comes out of your paypal/bank account where before you could at least use the buyer's payment as part of paying for shipping should you use free shipping.

Actually I'd rather pay out of PayPal using acredit card for cash book.

ctf_error_coins

@jmlanzaf said:

@ErrorsOnCoins said:
If a buyer pays with Paypal, does the payment go to your PayPal account or your bank account?

Should go to your bank account.

well, that sucks.

Paypal is my favorite (bank) in the world and I do 99% of buying and selling through that account.

Can you make (PayPal) be your bank of choice for the deposits? I know I can transfer funds separately if needed.

mannie gray

So far, I have been told by eBay that I will be switching over but nothing since.

ctf_error_coins

@mannie gray said:
So far, I have been told by eBay that I will be switching over but nothing since.

I got the guy that called from eBay trying to make me switch to actually hang up on me

davewesen

that didn't take long

I am still waiting to pay for an auction that ended 10 days ago, the seller is trying to start his eBay payments. I asked about a PAYPAL payment, and they said their PAYPAL account has been closed

mannie gray

@davewesen said:
that didn't take long

I am still waiting to pay for an auction that ended 10 days ago, the seller is trying to start his eBay payments. I asked about a PAYPAL payment, and they said their PAYPAL account has been closed

Same here.

ctf_error_coins

Ya I paid for an auction 2 weeks ago and the seller never accepting the payment and I got a refund today.

It does appear the Managed Payments is NOT going smoothly

ctf_error_coins

Who is closing the PayPal accounts, Paypal???

jmlanzaf

@davewesen said:
that didn't take long

I am still waiting to pay for an auction that ended 10 days ago, the seller is trying to start his eBay payments. I asked about a PAYPAL payment, and they said their PAYPAL account has been closed

Closed by whom? I assume he means that it is no longer linked to his ebay account not actually closed.

davewesen

I did not ask, but offered to send PAYPAL and they said their account was closed.

I could assume the worst and think PAYPAL closed it because they are crooks, but I won't

goldrealmoney79

the fees look better, which is nice.
But knowing ebay the rollout is going to be a horror show. Going to be a while until they work out all the kinks.

Connecticoin

Nice, finally something good for ebay sellers.

Hopefully no horror show, just a difference in timing of getting paid. I always have my paypal balance transferred to my bank anyway, to probably won't be much difference timing -wise in the long run.

jmlanzaf

@davewesen said:
I did not ask, but offered to send PAYPAL and they said their account was closed.

I could assume the worst and think PAYPAL closed it because they are crooks, but I won't

Ebay can't close their PayPal account

jt88

I can't sign up for eBay managed payment. I guess I have to wait till they allow me to sign up.

MasonG

@jt88 said:
I can't sign up for eBay managed payment. I guess I have to wait till they allow me to sign up.

Could be worse. I received notice that the deadline for signing up was past, then when I tried to sign up, eBay was unable to verify my bank account. I called customer service and they gave me instructions and now, on my "My eBay" page it says "You’ve successfully registered for managed payments" in one place and "You need to update your account details on file – this is required to set you up for managed payments" in another.

djm

@MasonG said:

@jt88 said:
I can't sign up for eBay managed payment. I guess I have to wait till they allow me to sign up.

Could be worse. I received notice that the deadline for signing up was past, then when I tried to sign up, eBay was unable to verify my bank account. I called customer service and they gave me instructions and now, on my "My eBay" page it says "You’ve successfully registered for managed payments" in one place and "You need to update your account details on file – this is required to set you up for managed payments" in another.

Looks like MasonG is going to be banking with Chime.

remumc

PayPal closed my account about 3 months ago because I am in a firearms related business. I had money in the account, which they tell me I can have in about another 3 months. Used it for years with no problems, then poof. They are no longer on my Christmas list. I have found work arounds, so didn't really hurt me that much, except for them holding my money hostage.

Namvet69

I was present for two conference calls between a longtime eBay seller and eBay, who switched to managed payments back in Dec. He switched because he was blocked from selling coins and bullion and that PayPal was no longer available for payment. EBay promised and delayed the rollout and authorization to sell coins and bullion twice with a new date of mid March 2021. EBay reps are reading scripted statements that are vague at best. Seems like it's a frustrating waiting game. Peace Roy

logger7

I would prefer to use paypal, for me the incentives here are minimal; you have everything deducted from your payment before you get your money, ebay's final value fees, etc.. Plus you have to wait longer. We should have freedom to choose here not get dictated to.

derryb

@ErrorsOnCoins said:

Can you make (PayPal) be your bank of choice for the deposits? I know I can transfer funds separately if needed.

Managed Payments registration requires a linked checking account. Just finished applying.

OKCC

I used to pay ebay seller's fees with a credit card. So now I can't, and won't be getting the cc rewards?
And does anyone know if the 10% TRS discount still applies? Would the new store rate become 8.5% - .85% or what?

jmlanzaf

@logger7 said:
I would prefer to use paypal, for me the incentives here are minimal; you have everything deducted from your payment before you get your money, ebay's final value fees, etc.. Plus you have to wait longer. We should have freedom to choose here not get dictated to.

You're free to feel that way. But you don't have such a choice on any retail site. All retail sites have a payment gateway. You just don't tend to see it because you're only a buyer on the other sites, not a seller.

jmlanzaf

@OKCC said:
I used to pay ebay seller's fees with a credit card. So now I can't, and won't be getting the cc rewards?
And does anyone know if the 10% TRS discount still applies? Would the new store rate become 8.5% - .85% or what?

Supposedly the TRS discount applies to the whole thing. I'll try to find the link.

https://www.ebay.com/help/selling/seller-levels-performance-standards/seller-levels-performance-standards?id=4080

Here it is!

jmlanzaf

@OKCC said:
I used to pay ebay seller's fees with a credit card. So now I can't, and won't be getting the cc rewards?
And does anyone know if the 10% TRS discount still applies? Would the new store rate become 8.5% - .85% or what?

The decrease in fees more than offsets your CC rewards unless you have one heck of a credit card. If you were getting 5% back on your CC, that is 0.4%. The lowered rate with managed payments is 0.55%

OKCC

@jmlanzaf said:

@OKCC said:
I used to pay ebay seller's fees with a credit card. So now I can't, and won't be getting the cc rewards?
And does anyone know if the 10% TRS discount still applies? Would the new store rate become 8.5% - .85% or what?

The decrease in fees more than offsets your CC rewards unless you have one heck of a credit card. If you were getting 5% back on your CC, that is 0.4%. The lowered rate with managed payments is 0.55%

OK, thanks for the help. So it looks like with a cc rewards of 1.5%, one would be losing just under 1/4 of the 0.55% drop in fvf's if I figured correctly, by the fvf now being taken out of the sale amount.

OKCC

@jmlanzaf said:

@OKCC said:
I used to pay ebay seller's fees with a credit card. So now I can't, and won't be getting the cc rewards?
And does anyone know if the 10% TRS discount still applies? Would the new store rate become 8.5% - .85% or what?

Supposedly the TRS discount applies to the whole thing. I'll try to find the link.

https://www.ebay.com/help/selling/seller-levels-performance-standards/seller-levels-performance-standards?id=4080

Here it is!

Thanks and appreciate the link. It doesn't state whether the definition of the FVF under managed payments includes the payment processing part. Will have to compute when it happens, and the discount is applied, to determine if it does.

djm

Got the e-mail today that I will be switched on Wednesday 2/10 to Managed Payments. I thought they were going to give 2 weeks notice not 2 days notice.

logger7

@jmlanzaf said:

@logger7 said:
I would prefer to use paypal, for me the incentives here are minimal; you have everything deducted from your payment before you get your money, ebay's final value fees, etc.. Plus you have to wait longer. We should have freedom to choose here not get dictated to.

You're free to feel that way. But you don't have such a choice on any retail site. All retail sites have a payment gateway. You just don't tend to see it because you're only a buyer on the other sites, not a seller.

I know sellers who are doing $30K a month or more on ebay, I wonder how they feel about the roll out of managed payments? Ebay gets all their fees up front before you get your money; since this is a totally new program I am not particularly hopeful about it being glitch free.

tincup

@jmlanzaf said:

@OKCC said:
I used to pay ebay seller's fees with a credit card. So now I can't, and won't be getting the cc rewards?
And does anyone know if the 10% TRS discount still applies? Would the new store rate become 8.5% - .85% or what?

The decrease in fees more than offsets your CC rewards unless you have one heck of a credit card. If you were getting 5% back on your CC, that is 0.4%. The lowered rate with managed payments is 0.55%

Not sure I understand the math as presented. If I have a 5% cash back credit card.... I save $5 on a $100 purchase. But the savings on managed payments is 0.55%... which is only $0.55 savings on a $100 purchase? what am I missing??

tincup

What happens with managed payments when one uses ebay to print out postage label? Mine currently gets charged to Paypal.... but if the paypal link becomes closed with managed payments... do they take the payment directly out of the linked bank account? Not sure that is something I would care for...

jmlanzaf

@logger7 said:

@jmlanzaf said:

@logger7 said:
I would prefer to use paypal, for me the incentives here are minimal; you have everything deducted from your payment before you get your money, ebay's final value fees, etc.. Plus you have to wait longer. We should have freedom to choose here not get dictated to.

You're free to feel that way. But you don't have such a choice on any retail site. All retail sites have a payment gateway. You just don't tend to see it because you're only a buyer on the other sites, not a seller.

I know sellers who are doing $30K a month or more on ebay, I wonder how they feel about the roll out of managed payments? Ebay gets all their fees up front before you get your money; since this is a totally new program I am not particularly hopeful about it being glitch free.

I do about 15 to 20k per month on eBay. I'm fine with managed payments. It's a change, but I really don't see any significant differences. I only move money from PayPal to my checking account once per week, so I will do the same here.

And the fees are significantly lower. With my top rated discount, my total rate will be 7.65% vs the current 8.5%.

tincup

jmlanzaf, does ebay hold and accumulate the payments from your sold items... until you decide you want them to transfer to your checking account? Just trying to figure out how this works...

jmlanzaf

@OKCC said:

@jmlanzaf said:

@OKCC said:
I used to pay ebay seller's fees with a credit card. So now I can't, and won't be getting the cc rewards?
And does anyone know if the 10% TRS discount still applies? Would the new store rate become 8.5% - .85% or what?

Supposedly the TRS discount applies to the whole thing. I'll try to find the link.

https://www.ebay.com/help/selling/seller-levels-performance-standards/seller-levels-performance-standards?id=4080

Here it is!

Thanks and appreciate the link. It doesn't state whether the definition of the FVF under managed payments includes the payment processing part. Will have to compute when it happens, and the discount is applied, to determine if it does.

"For managed payments sellers, the discount is applied to the final value fee which is calculated on the total amount of the sale, including shipping and tax. The discount does not apply to the $0.30 per order portion of the final value fee"

The only thing it doesn't apply to is the 30 cent per transaction cost. There is no breakdown anymore. The "final value fee" is the entire 8.5%. There isn't an FVF and a payment fee anymore.

djm

@logger7 said:

@jmlanzaf said:

@logger7 said:
I would prefer to use paypal, for me the incentives here are minimal; you have everything deducted from your payment before you get your money, ebay's final value fees, etc.. Plus you have to wait longer. We should have freedom to choose here not get dictated to.

You're free to feel that way. But you don't have such a choice on any retail site. All retail sites have a payment gateway. You just don't tend to see it because you're only a buyer on the other sites, not a seller.

I know sellers who are doing $30K a month or more on ebay, I wonder how they feel about the roll out of managed payments? Ebay gets all their fees up front before you get your money; since this is a totally new program I am not particularly hopeful about it being glitch free.

Sellers who are doing $1K per day are going to be having their money deposited in to their bank accounts daily. It makes it much easier on them not having to request a PayPal transfer and having to wait for their money. So they would get the money less fees every day. Why does it matter when eBay gets paid unless you intend on beating them out of there fees.

jmlanzaf

@djm said:

@logger7 said:

@jmlanzaf said:

@logger7 said:
I would prefer to use paypal, for me the incentives here are minimal; you have everything deducted from your payment before you get your money, ebay's final value fees, etc.. Plus you have to wait longer. We should have freedom to choose here not get dictated to.

You're free to feel that way. But you don't have such a choice on any retail site. All retail sites have a payment gateway. You just don't tend to see it because you're only a buyer on the other sites, not a seller.

I know sellers who are doing $30K a month or more on ebay, I wonder how they feel about the roll out of managed payments? Ebay gets all their fees up front before you get your money; since this is a totally new program I am not particularly hopeful about it being glitch free.

Sellers who are doing $1K per day are going to be having their money deposited in to their bank accounts daily. It makes it much easier on them not having to request a PayPal transfer and having to wait for their money. So they would get the money less fees every day. Why does it matter when eBay gets paid unless you intend on beating them out of there fees.

Well, you might want to invest that float at 0.1% at your local bank.

jmlanzaf

@tincup said:
jmlanzaf, does ebay hold and accumulate the payments from your sold items... until you decide you want them to transfer to your checking account? Just trying to figure out how this works...

Supposedly you can either set it up for daily or weekly transfers.

https://pages.ebay.com/seller-center/service-and-payments/managed-payments-on-ebay.html

I think it probably depends on your volume.

For me, weekly makes sense as there are some days when I get $5 in payments and other days when I get $500 or more. So more than once per week doesn't make sense.

If your volume is very high, daily might make sense. If your volume is extremely low, daily might also make sense since many days it would just be zero anyway.

jmlanzaf

@tincup said:
What happens with managed payments when one uses ebay to print out postage label? Mine currently gets charged to Paypal.... but if the paypal link becomes closed with managed payments... do they take the payment directly out of the linked bank account? Not sure that is something I would care for...

Quoted from the link I posted above:

"You may choose to pay for shipping labels by having the costs deducted from funds awaiting payout, in addition to using a PayPal account."

I'm actually kind of excited about this. Under the old system, they insisted on using PayPal balance. Now, since my PayPal balance will be zero, I can have it charge my credit card for my 2% cash back bonus!!!

I'm going to 0.85% and 2% my way to wealth!!

tincup

Thanks jmlanzaf... sounds like I may be able to continue using paypal for the labels... which is what I was hoping for.

Ebay has given me a date of Feb 28th... for the time I have to be signed up. Been putting it off as long as I could....

jmlanzaf

@tincup said:
Thanks jmlanzaf... sounds like I may be able to continue using paypal for the labels... which is what I was hoping for.

Ebay has given me a date of Feb 28th... for the time I have to be signed up. Been putting it off as long as I could....

They gave me the 22nd to 26th for activation. Can't wait to see it in action.

CoinJunkie

@tincup said:

@jmlanzaf said:

@OKCC said:
I used to pay ebay seller's fees with a credit card. So now I can't, and won't be getting the cc rewards?
And does anyone know if the 10% TRS discount still applies? Would the new store rate become 8.5% - .85% or what?

The decrease in fees more than offsets your CC rewards unless you have one heck of a credit card. If you were getting 5% back on your CC, that is 0.4%. The lowered rate with managed payments is 0.55%

Not sure I understand the math as presented. If I have a 5% cash back credit card.... I save $5 on a $100 purchase. But the savings on managed payments is 0.55%... which is only $0.55 savings on a $100 purchase? what am I missing??

He was talking about earning bonus points paying eBay fees via CC/PayPal, not purchasing items on eBay.

logger7

@jmlanzaf said:

@logger7 said:

@jmlanzaf said:

@logger7 said:
I would prefer to use paypal, for me the incentives here are minimal; you have everything deducted from your payment before you get your money, ebay's final value fees, etc.. Plus you have to wait longer. We should have freedom to choose here not get dictated to.

You're free to feel that way. But you don't have such a choice on any retail site. All retail sites have a payment gateway. You just don't tend to see it because you're only a buyer on the other sites, not a seller.

I know sellers who are doing $30K a month or more on ebay, I wonder how they feel about the roll out of managed payments? Ebay gets all their fees up front before you get your money; since this is a totally new program I am not particularly hopeful about it being glitch free.

I do about 15 to 20k per month on eBay. I'm fine with managed payments. It's a change, but I really don't see any significant differences. I only move money from PayPal to my checking account once per week, so I will do the same here.

And the fees are significantly lower. With my top rated discount, my total rate will be 7.65% vs the current 8.5%.

Actually had set up my paypal account for automatic deposits into bank account. For a while last year they let you do instant transfers without the 1% fee. Now with managed payments it will be different.

jmlanzaf

@CoinJunkie said:

@tincup said:

@jmlanzaf said:

@OKCC said:
I used to pay ebay seller's fees with a credit card. So now I can't, and won't be getting the cc rewards?
And does anyone know if the 10% TRS discount still applies? Would the new store rate become 8.5% - .85% or what?

The decrease in fees more than offsets your CC rewards unless you have one heck of a credit card. If you were getting 5% back on your CC, that is 0.4%. The lowered rate with managed payments is 0.55%

Not sure I understand the math as presented. If I have a 5% cash back credit card.... I save $5 on a $100 purchase. But the savings on managed payments is 0.55%... which is only $0.55 savings on a $100 purchase? what am I missing??

He was talking about earning bonus points paying eBay fees via CC/PayPal, not purchasing items on eBay.

That's correct.

You can still pay for ebay items with whatever card you want. Nothing's changed there.

opportunity

Fyi, you can use a Paypal debit card under the new scheme. If you're buying, it's all the same. Beware of daily debit card limits, however.

thebeav

I never had to 'balance' my Paypal account. I'm afraid that balancing my checkbook may become a nightmare.
Oh well.......

CoinJunkie

@jmlanzaf said:

@CoinJunkie said:

@tincup said:

@jmlanzaf said:

@OKCC said:
I used to pay ebay seller's fees with a credit card. So now I can't, and won't be getting the cc rewards?
And does anyone know if the 10% TRS discount still applies? Would the new store rate become 8.5% - .85% or what?

The decrease in fees more than offsets your CC rewards unless you have one heck of a credit card. If you were getting 5% back on your CC, that is 0.4%. The lowered rate with managed payments is 0.55%

Not sure I understand the math as presented. If I have a 5% cash back credit card.... I save $5 on a $100 purchase. But the savings on managed payments is 0.55%... which is only $0.55 savings on a $100 purchase? what am I missing??

He was talking about earning bonus points paying eBay fees via CC/PayPal, not purchasing items on eBay.

That's correct.

You can still pay for ebay items with whatever card you want. Nothing's changed there.

The salient point is that if you were getting 5% back when paying eBay fees via credit card, that's only .05 x .07 (roughly), not .05 x 1.0 of item sale price.

Cougar1978

Where does it say on eBay managed payments for coins & currency with store are 8.5 %? Do you have a link?

jmlanzaf

@Cougar1978 said:
Where does it say on eBay managed payments for coins & currency with store are 8.5 %? Do you have a link?

It's on the ebay fees page

https://www.ebay.com/help/selling/selling-fees/store-fees?id=4809