Options
Managed Payments, When do I see some money?
JoeBanzai
Posts: 11,211 ✭✭✭✭✭
LONG time seller on ebay. Just started selling under the new program.
Don't like it so far.
Goes ebay release your funds when you print the mailing label or when card is logged as shipped by the USPS?
Not a fan of mailing out an item before I see some CASH!
PayPal worked just fine for me.
2013,14 and 15 Certificate Award Winner Harmon Killebrew Master Set and Master Topps Set
1
Comments
For me, when I signed up I chose Tuesdays for payout. Every Tuesday morning I would get an email and then a deposit in the bank account. I think you can look in the seller hub overview and click "payments" and find out when your next payment is due and how much it will be.
I agree not a fan.
Pretty sure ebay paid for everything but held back a couple days before your payout day.
I chose "daily" for payouts and it didn't seem to matter - everything still gets reconciled on Tuesdays. That means I see the money on Thursday or Friday. It was incredibly annoying at first. Less so now that I know what to expect.
Thanks for the info.
I DON'T LIKE IT!
I agree. I get an email saying that ebay has made a payout, and it seems to be a couple days after the sale, then it hits my bank typically the next day after that.
>
Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
You will see it go to bank. I've been selling for 20 yrs. Trust me, your money is safe. A new rule,but it's absolutely safe.
Takes about 3 business days.
Same here as far as timing. It is working fine for me.
Nic
Guides Authored - Graded Card Scanning Guide PDF | History of the PSA Label PDF
I am an old fart, and don't like all the games people like to play with MY MONEY.
I was OK with PayPal and don't seem to have a choice with the managed payments garbage.
Seemed to me there was some safety with PayPal being separate from the bank. Ebay has generally been a buyers site, but it's starting to be time to find another place to sell.
If you're at all concerned about this you should open a separate account for your eBay dealings, and especially at a different bank. This will keep eBay away from the money you need for your mortgage payment.
Actually, the new way is a better, more direct route than Paypal, which has been known to freeze funds for any number of reasons for many people over the years if you want to talk about playing with people's money.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
My friend, I totally understand your point. I was nervous just like you! I was a pay pal nerd! Lol, when the switch came....I was extremely nervous about my money. I'm here to tell you..... DON'T WORRY! The only reason I would leave eBay is the seller rights have and will continue to fall. But the most important thing.....the fees! They're getting ridiculous to me. Only if we had a platform like eBay with cards. Because eBay does have the very very best selection.
This is exactly the kind of B.S. I hate about the modern world. Why should I have to make a bunch of changes in my personal life to secure my money. It was secure before.
I don't sell too much on ebay, but just got some cards back from PSA and am trying to make a little profit.
This will probably be my last submission for a while (forever if the fees don't come back to reality) other than for my PC and I think I will be ending my selling on ebay.
This used to be a really fun hobby for small timers like me, but I am getting fed up with the games the greedy A holes like to play.
Maybe so, but now ebay has my personal bank account and since it has always been totally for the buyer, I think I will simply stop selling and maybe buying too. I sure have enough baseball cards laying around that are worth little or nothing.
The last thing I need is to have ebay freeze my account over some clever scammer. What might happen to your credit rating if something like this happened? I had a problem with a credit card company trying to rip me off and when I refused to pay their outrageous fee, they screwed me on my credit rating, and my house payment is about a hundred bucks a month higher than it should be, because when I refinanced, my credit score was not "perfect".
If CitiBank send you a bill, pay it baby, they will get you in the end!
If I was a big time seller, I would open a separate checking account, but I don't want to do that. I am semi-retired and trying to simplify my life. _If the new system works for you that's great.
_
My mother was a worrier and I am getting to be one too in my old age. You mention the fees, it looks like it costs about 20% to sell on ebay now? Ebay was fantastic at first (with a few problems), Now it's beginning to feel like I work for them and they're Nazis._ I REALLY don't like to be told to ship my cards out before I see the money._ At least with PayPal, you saw it was in your account and it still could be in your bank (if you so chose) a lot sooner than with managed payments.
I do agree the selection on ebay is amazing, but how much crap does one need to own?
To end my rant, I want to say that I am very grateful for being able to achieve a nice Harmon Killebrew collection over the years that I wouldn't have been able to do locally, but since I seem to have everything possible Killebrew, that I can afford, maybe it's time to move on. I'm a little angry for sure, but mostly saddened by the greedy lust for money and control that has become more prevalent in the hobby in the last few years.
A buddy of mine once told me some words of wisdom over a card "deal"; BOTH sides should feel pretty good after the deal is done.
As a small time seller on ebay, I keep wondering why I bother?
Takes about ten minutes to set up a free Capital One 360 checking account online. Like most things in life It's not really that big of a deal 🤷♂️
With all the negative possibilities you've concocted, you should stop selling or buying anything on line, period.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Or just stop posting on message boards.
None of it's a big deal.
i get it, joe. anything messing w ones money or vital info is unsettling. i went thru this all a year ago and it was a pain. especially when the calculated rate wasnt being sent and zero help or articles as to why. i didnt even have a managed payments seller dashboard for 6 months. figuring out the percentage was on the post tax/shipping fee. and all this was going on during early covid days. getting someone on the phone was a joke. when i finally did, they didnt even know the answers to most of my questions.
i wasnt worried about linking a bank account. setting up a dedicated one and daily payouts was fine once it got rolling.
the biggest downfall for me was not being able to keep a balance to pay for things in managed payments like you could w paypal. i hardly sell anymore though. its easier and more equitable to just consign. most of the times you can get a cheaper rate than if ya did it yourself and they do all the work. with all the newbs, returns for any reason, scammers and non payments its a no brainer for me.
Lol Joe, I have to admit something to you . When I was asked about my bank account information when signing up for the new "move" I was nervous. my wife only ask me crap like that lol. I totally get why you're mad and unsettled. I didn't marry eBay lol.
For me never
ebay couldn't ever get me hooked up on managed payments so for 6 months I never got paid. They say it is an IT problem
they still owe me about $4K and they are doing nothing.
Ebay is nothing more than common thiefs
1948-76 Topps FB Sets
FB & BB HOF Player sets
1948-1993 NY Yankee Team Sets
If eBay ever gets involved in a wells Fargo type of affair........ EBAY WILL PAY A LOT OF MONEY BACK TO THE WORLD LOL
Guess who I bank with. :-(
Me too 😆😆😆😆😆
Lol, you too??? 😆
Ebay was fantastic at first (with a few problems), Now it's beginning to feel like I work for them and they're Nazis._ I REALLY don't like to be told to ship my cards out before I see the money.
Yeah.... this is where ya lost me. They're Nazis? ... ... Nazis?!
I'm sure some cavemen hated fire in the beginning. The wheel was pretty sketchy too
My Dad and his friends at the Knights of Columbus always told me the internet was useless and wouldn't catch on. Now they don't have to buy their girlie mags at the 7/11 and get their porn fix online. God bless progress
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Maybe not quite Nazis. Maybe the Huns.
Comparing managed payments to the invention of the wheel?
I hope I don't get run over.
I don't disagree with you. I think your money is safe with eBay but my point was that if you trust PayPal or Wells Fargo with your money but not eBay, there is a workaround.
This is what I did, but kept it at the same bank, just with different account numbers.
Yes, If I sold consistently, I would certainly open another account. When I had my own business, I had a separate account for it.
I remember when ebay switched everyone over from check/money order to PayPal. Lots of complaining on the AOL message board back then too 😆
I see what you did there. ;-)
Would i like to have the old way of payment back? Of course. But it ain't coming back.
I haven't had any problems at all with Ebay managed payments.
I agree and good to know.
Managed Payments are just another layer of control. You can still have your sales proceeds end up in your PayPal account if you wish, they just circle around from eBay to your bank account and then back to PayPal if you know what to do. The government wants an accounting, and this is eBays way of conforming. Your 1099 for selling more than $600 in goods on eBay is now on its way at the end of year. Your hobby is now a business. The gig economy is changing drastically. This aint going away, and will only get worse. Adapt, or fade away.
When does this $600 gig actually start?
Thanks
wrong. doesn't start til next year.
I want to totally agree with you; but I read the document and the wording was not crystal clear. It mentioned documents coming out in next tax year. One would not receive a 1099 until FEB anyway. FEB is next year. Like I said...I totally hope you are right and that is the way I interpreted it; but wouldn't bet a kidney on it.
reading it is one thing. comprehending it is a completely different. and thats not a slight to you. it is tricky verbiage.
Just another wonderful sign of our times, is it really that hard to be clear about when it's going to happen? Or are they being intentionally vague, so they can make up their minds whenever they choose to and you don't have anything to complain about?
Tax year is the year the tax return pertains to. When you file your taxes in 2022, your Tax Year is 2021. How they define next tax year is a wait and see.
you seem to miss the spirit of my post, but sure, not this year...or maybe it is, no one seems to know, point is, things be a changing, and not for the better.
As a follow up, I have been receiving my pay outs. Seemed to take a while for the first one.
Still not thrilled with the new system.