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Ebay Managed Payments

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  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    @YQQ said:

    @ErrorsOnCoins said:

    I will be selling coins on eBay for years to come, for sure, 100%.

    **And, how will you get paid? or accept payment for years to come?
    **

    I do not worry about things.

    I am certainly not worried about this petty issue that will go away.

    Back to the beach to chill.

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    @tincup said:
    Yippee.

    There is an interesting thread in the Cards category regarding this... concerns about having to provide bank statements to sign up, and the possibility of having your bank funds frozen in certain cases.

    Oh WHEW !!! I thought it could get serious. >:)

  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭
    edited July 19, 2020 8:31AM

    @ifthevamzarockin said:
    @ErrorsOnCoins "I will be selling coins on eBay for years to come, for sure, 100%."

    If life or 2020 has taught me anything....nothing in life is 100% for sure.

    Good luck on the Pacific Ocean. :D

    So this happened to me yesterday on the ocean ...

    My pedal drive broke out on the Pacific Ocean, did I worry?, did I go back to shore?

    No, I went out five miles on a half-ass drive. No matter what happens, always move forward ....

    As to Jaws, I welcome the man in the grey suit every time. I have seen 2 GWS while on the open ocean in my kayak.

    And by the way, sharks fear me ....

  • ifthevamzarockinifthevamzarockin Posts: 8,908 ✭✭✭✭✭

    Thanks! I needed a good laugh this morning! :D:D:D

  • Cougar1978Cougar1978 Posts: 8,764 ✭✭✭✭✭
    edited July 19, 2020 8:56AM

    For big ticket material over $500 I prefer sales at shows no eBay / pp fees or ship costs or risk of shipping loss etc plus can operate on a narrow spread so move it quickly. Operating on the bay over 20 years I have never had a purchase or sale lost where I was out money. One sale was lost, reimbursed by usps ins. 2 purchases supposedly lost reimbursed by seller.

    The downside of shows is not clearing enough (positive GM) to clear expenses of doing the shows (table fee plus travel) plus inventory can be at risk during transit. A major gold dealer told me at my table once the biggest stress of the coin business for him was always looking over his shoulder when traveling knowing any number of people would kill / rob him if they knew what he was carrying.

    For eBay one has to calculate the costs of operating there and markup accordingly allowing target profit. Not long a screen came up touting managed payments plus a button click on sign up. I very quickly exited that screen. Be careful what you click on!

    Investor
  • ifthevamzarockinifthevamzarockin Posts: 8,908 ✭✭✭✭✭
    edited July 19, 2020 8:52AM

    @ErrorsOnCoins

    I had a friend that had a gun that he had purchased and wanted to show it to me.
    I asked him if it was unloaded, he said "I know what I am......" and bang the gun discharged.

    Had a very dear friend that we made many fishing trips together. He was in the Navy and spent his whole life on the water either working or fishing. He had a deep respect for the water and was extremely careful and very wise. Long story short he died in a freak accident on a boat ramp and drown.

    Your confidence is admirable but don't let it get the best of you.
    Have fun, stay safe & catch a big one for me. :)

  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭
    edited July 19, 2020 8:59AM

    @ifthevamzarockin said:
    @ErrorsOnCoins

    I had a friend that had a gun that he had purchased and wanted to show it to me.
    I asked him if it was unloaded, he said "I know what I am......" and bang the gun discharged.

    Had a very dear friend that we made many fishing trips together. He was in the Navy and spent his whole life on the water either working or fishing. He had a deep respect for the water and was extremely careful and very wise. Long story short he died in a freak accident on a boat ramp and drown.

    Your confidence is admirable but don't let it get the best of you.
    Have fun, stay safe & catch a big one for me. :)

    On the water, safety, safety and safety.

    The ocean can be unforgiving. Always think of safety.

    I told my wife if I do not come back that is ok because I've had a effing great life.

    That said, you can't hide in your office from the world. Planes fall out of the air sometimes, Heart attacks happen to people that sit all day and get no exercise.

    I go out on the ocean at least once a week. That means I get at least 52 awesome adventures per year. I am pretty sure these adventures will actually help me to live longer :)

  • tommyrusty7tommyrusty7 Posts: 2,177 ✭✭✭✭

    So, with all this back and forth, is ebay going to sell coins or not? That is all everybody wants to know!

  • coinbufcoinbuf Posts: 11,808 ✭✭✭✭✭

    @tommyrusty7 said:
    So, with all this back and forth, is ebay going to sell coins or not? That is all everybody wants to know!

    Stay tuned more to follow.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,568 ✭✭✭✭✭
    edited July 19, 2020 11:10AM

    I might have to change my eBay handle from Twosides2acoin to StatusQuoJoe

  • goldrealmoney79goldrealmoney79 Posts: 417 ✭✭✭

    Yikes, I dread the day when I have to switch to managed payments, which I assume will be soon.

  • tommyrusty7tommyrusty7 Posts: 2,177 ✭✭✭✭

    I will just stop selling a I am too old to fight them.

  • dcarrdcarr Posts: 9,060 ✭✭✭✭✭

    I actually hope that eBay blows it and coin listings there drop off.
    That way, some other (lower cost and more user friendly) alternatives will take hold.

  • tommyrusty7tommyrusty7 Posts: 2,177 ✭✭✭✭

    I have plenty of buyers for my coins here on the forum so I don't need ebay anyway. They have gotten so bad it is not worth my whole selling on there. I have sold hundreds of silver eagles and 2019 W's here that I dont even remember how many at this point.

  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭

    Invest in https://usacoinbook.com

    @dcarr said:
    I actually hope that eBay blows it and coin listings there drop off.
    That way, some other (lower cost and more user friendly) alternatives will take hold.

  • MgarmyMgarmy Posts: 2,296 ✭✭✭✭✭

    @ErrorsOnCoins said:

    @ifthevamzarockin said:
    @ErrorsOnCoins "I will be selling coins on eBay for years to come, for sure, 100%."

    If life or 2020 has taught me anything....nothing in life is 100% for sure.

    Good luck on the Pacific Ocean. :D

    So this happened to me yesterday on the ocean ...

    My pedal drive broke out on the Pacific Ocean, did I worry?, did I go back to shore?

    No, I went out five miles on a half-ass drive. No matter what happens, always move forward ....

    As to Jaws, I welcome the man in the grey suit every time. I have seen 2 GWS while on the open ocean in my kayak.

    And by the way, sharks fear me ....

    Is that a thresher or porbeagle? Nice catch!

    100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21

  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    135 pound Thresher Shark caught on rod and reel. 65 pound braid to 100 pound mono caught on a Rapala.

    The fight was two and a half hours and took me two and a half miles farther out to sea.

    It took three of us kayaker to get the Shark on my Kayak.

    I landed on the beach in La Jolla with this monster.

    Gave out fresh meat to 12 families.

    One and done, never again.

  • MgarmyMgarmy Posts: 2,296 ✭✭✭✭✭
    edited July 20, 2020 11:47AM

    Error that is awesome! Caught a mako out night blue fishing and a greater Atlantic hammer and a couple spinners and bulls from the beach in Wilmington NC and OBX but never a thresher or porbeagle...and from an ocean Kayak! Free shark sleigh ride!

    100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21

  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭
    edited July 20, 2020 11:50AM

    @Mgarmy said:
    Error that is awesome! Caught a mako our night blue fishing and a greater Atlantic hammer and a couple spinners and bulls but never a thresher or porbeagle...and from an ocean Kayak! Free shark sleigh ride!

    I brought a Mako to the kayak once after it did about 5 aerobatic flips.

    I wanted to harvest it but my friend talked me out of it by asking me if I liked my fingers as they have razor-sharp teeth. He also said the shark was still very green.

    I cut the line .....

  • MgarmyMgarmy Posts: 2,296 ✭✭✭✭✭

    And to boot pacific Makos get much bigger than atlantic makos. Mine weighed in at 267. Cant keep them in NJ (which is where I caught the mako) unless they weigh at least a 100

    100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover, alohagary, blaircountycoin,joebb21

  • 1peter12231peter1223 Posts: 136 ✭✭✭

    Ebay will lose more sellers over this .

  • 1peter12231peter1223 Posts: 136 ✭✭✭

    Got another one of the warning emails and ebay messages about needing to sign up for managed payments on this Saturday ( 6/26/21 ) .

    So i signed up for Managed payments this Saturday .
    Same day i get offer for an item and i accept offer and send buyer invoice .
    Buyer pays immediately ( Saturday afternoon ) .

    I ship item Monday morning .

    I find out my setting are for payments to go to my bank account 1 business day after receiving payment .
    Today ( 6/29/21 ) , i get confirmation from ebay that the payment has been "processed " and they will be depositing to my ban in 1-3 business days ?

    No wonder so many sellers have left ebay .
    Really petty of them to be holding on to peoples funds like that .

    With PayPal the $ was in my PayPal account immediately .I could use immediately to buy items on many different sites . I would transfer to my bank account and sometimes i would get them in my account the same day ( if done in the morning on a work day , $ would arrive late night ) .

    Not complaining about the $, but the clear pettiness of them to hold onto funds for no valid reason.

  • MasonGMasonG Posts: 6,262 ✭✭✭✭✭

    @1peter1223 said:
    I find out my setting are for payments to go to my bank account 1 business day after receiving payment .
    Today ( 6/29/21 ) , i get confirmation from ebay that the payment has been "processed " and they will be depositing to my ban in 1-3 business days ?

    No wonder so many sellers have left ebay .
    Really petty of them to be holding on to peoples funds like that .

    If eBay has "processed", as in "initiated", the deposit, there's nothing more they can do. It's up to your bank to "process", as in "deposit", the money into your account at that point. Perhaps you should ask your bank what the delay is?

  • jmlanzafjmlanzaf Posts: 36,379 ✭✭✭✭✭
    edited June 29, 2021 7:40PM

    @1peter1223 said:
    Got another one of the warning emails and ebay messages about needing to sign up for managed payments on this Saturday ( 6/26/21 ) .

    So i signed up for Managed payments this Saturday .
    Same day i get offer for an item and i accept offer and send buyer invoice .
    Buyer pays immediately ( Saturday afternoon ) .

    I ship item Monday morning .

    I find out my setting are for payments to go to my bank account 1 business day after receiving payment .
    Today ( 6/29/21 ) , i get confirmation from ebay that the payment has been "processed " and they will be depositing to my ban in 1-3 business days ?

    No wonder so many sellers have left ebay .
    Really petty of them to be holding on to peoples funds like that .

    With PayPal the $ was in my PayPal account immediately .I could use immediately to buy items on many different sites . I would transfer to my bank account and sometimes i would get them in my account the same day ( if done in the morning on a work day , $ would arrive late night ) .

    Not complaining about the $, but the clear pettiness of them to hold onto funds for no valid reason.

    90% of all my payments process in less than 24 hours. Weekends seem a little longer. Transfer to my account takes the same 24 hours that paypal did. I've had no problems.

  • 1peter12231peter1223 Posts: 136 ✭✭✭

    @jmlanzaf said:

    90% of all my payments prices in less than 24 hours. Weekends seem a little longer. Transfer to my account takes the same 24 hours that paypal did. I've had no problems.

    Maybe it's because i just set up the managed payments ?
    Will update when it shows up in my account .

  • MasonGMasonG Posts: 6,262 ✭✭✭✭✭

    @jmlanzaf said:
    90% of all my payments prices in less than 24 hours. Weekends seem a little longer.

    I only transfer once a week, on Tuesday. In the eleven weeks I've been in managed payments, every one of them posted to my checking account on the following day.

  • jmlanzafjmlanzaf Posts: 36,379 ✭✭✭✭✭

    @MasonG said:

    @jmlanzaf said:
    90% of all my payments prices in less than 24 hours. Weekends seem a little longer.

    I only transfer once a week, on Tuesday. In the eleven weeks I've been in managed payments, every one of them posted to my checking account on the following day.

    Same here. If you look at the "processing" funds you get some idea of how long the clearance takes. I've had payments received on a Saturday not clear till Monday. It doesn't seem to happen during the week when everything seems to clear in hours. Don't know why. Doesn't matter since I don't transfer till Tuesday.

  • MasonGMasonG Posts: 6,262 ✭✭✭✭✭

    @jmlanzaf said:
    Same here. If you look at the "processing" funds you get some idea of how long the clearance takes.

    I never looked at that before. Just checked some of my past transactions and it appears they show as "available" the day after the buyer pays except for payments made on Saturday, and those are available on Monday. Not seeing anything to worry about, but that's just me.

  • jmlanzafjmlanzaf Posts: 36,379 ✭✭✭✭✭

    @MasonG said:

    @jmlanzaf said:
    Same here. If you look at the "processing" funds you get some idea of how long the clearance takes.

    I never looked at that before. Just checked some of my past transactions and it appears they show as "available" the day after the buyer pays except for payments made on Saturday, and those are available on Monday. Not seeing anything to worry about, but that's just me.

    Same here. I haven't had any trouble in 4 months. I don't miss PayPal at all.

  • MasonGMasonG Posts: 6,262 ✭✭✭✭✭

    @jmlanzaf said:
    I don't miss PayPal at all.

    I don't, either. And after the way they handled a couple of subscription payments I had set up through them recently, the sooner they go out of business, the better.

    IMO, YMMV.

  • BigABigA Posts: 2,715 ✭✭✭✭
    edited June 30, 2021 4:42AM

    No issues at all with managed payments. Sold some coins Sunday evening....payout to checking account on Tuesday...showed up there this am. Nothing to do on my part. I did not set up a once a week payout....they just come as the sales are completed

    I did set up a new no fee checking account just for Ebay and payments go there,

    I print out monthly reports that include Ebay fees and shipping costs....all in one place.

    No issues....

  • Cougar1978Cougar1978 Posts: 8,764 ✭✭✭✭✭
    edited June 30, 2021 7:10PM

    I have been on managed payments for sometime, works smoothly.

    When an item sells I list it in the sales journal data, sales / Cost of Sales / Gross Margin. Then put red $ sign next to item in SJ when money transferred to business bank acct. Purchases and OPEx listed in Purchase Journal. Once received purchases marked up accordingly and listed on the Bay.

    At month end print out eBay sales analysis with costs and record Opex expenses and purchases updating inventory spreadsheet. The eBay analysis printout shows everything on one page allowing easy analysis of selling costs. One then can do the math for markup equation to cover selling costs plus commission.

    At shows all I have is the table fee. As soon as bourse room open buy coins from wholesaler before public comes in then markup / price back at my table. From then on max I can lose is the table fee. Stay behind table selling.

    Investor
  • 1peter12231peter1223 Posts: 136 ✭✭✭

    Funds were in my account this morning ( Wednesday ) .
    I am thinking maybe because i signed up on Saturday, they started processing my membership on Monday ?

  • jmlanzafjmlanzaf Posts: 36,379 ✭✭✭✭✭

    @1peter1223 said:
    Funds were in my account this morning ( Wednesday ) .
    I am thinking maybe because i signed up on Saturday, they started processing my membership on Monday ?

    You are probably on weekly payout, not daily.

  • jesbrokenjesbroken Posts: 10,565 ✭✭✭✭✭

    @1peter1223 said:
    Got another one of the warning emails and ebay messages about needing to sign up for managed payments on this Saturday ( 6/26/21 ) .

    So i signed up for Managed payments this Saturday .
    Same day i get offer for an item and i accept offer and send buyer invoice .
    Buyer pays immediately ( Saturday afternoon ) .

    I ship item Monday morning .

    I find out my setting are for payments to go to my bank account 1 business day after receiving payment .
    Today ( 6/29/21 ) , i get confirmation from ebay that the payment has been "processed " and they will be depositing to my ban in 1-3 business days ?

    No wonder so many sellers have left ebay .
    Really petty of them to be holding on to peoples funds like that .

    With PayPal the $ was in my PayPal account immediately .I could use immediately to buy items on many different sites . I would transfer to my bank account and sometimes i would get them in my account the same day ( if done in the morning on a work day , $ would arrive late night ) .

    Not complaining about the $, but the clear pettiness of them to hold onto funds for no valid reason.

    In April this year, I received the same notice giving me until April 24th to switch to managed payments or no more selling. I signed over to the mpp and for the first couple of sales it took me 4 or so days to get paid, but then started 2-3 days, then 1-2 days so now its pretty quick. Don't know why, but I feel and this is JMO, they are making sure you ship in a timely manner and once they see you do, they trust you and pay you faster. Maybe or maybe not. But wonder why everybody else has till now to sign over? Maybe I didn't really have to. Who knows. It is what it is. I always ship as soon as the P.O. is open.
    Jim


    When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln

    Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
  • MasonGMasonG Posts: 6,262 ✭✭✭✭✭

    @jesbroken said:
    But wonder why everybody else has till now to sign over?

    They didn't have everybody move at the same time.

  • jmlanzafjmlanzaf Posts: 36,379 ✭✭✭✭✭

    @jesbroken said:

    @1peter1223 said:
    Got another one of the warning emails and ebay messages about needing to sign up for managed payments on this Saturday ( 6/26/21 ) .

    So i signed up for Managed payments this Saturday .
    Same day i get offer for an item and i accept offer and send buyer invoice .
    Buyer pays immediately ( Saturday afternoon ) .

    I ship item Monday morning .

    I find out my setting are for payments to go to my bank account 1 business day after receiving payment .
    Today ( 6/29/21 ) , i get confirmation from ebay that the payment has been "processed " and they will be depositing to my ban in 1-3 business days ?

    No wonder so many sellers have left ebay .
    Really petty of them to be holding on to peoples funds like that .

    With PayPal the $ was in my PayPal account immediately .I could use immediately to buy items on many different sites . I would transfer to my bank account and sometimes i would get them in my account the same day ( if done in the morning on a work day , $ would arrive late night ) .

    Not complaining about the $, but the clear pettiness of them to hold onto funds for no valid reason.

    In April this year, I received the same notice giving me until April 24th to switch to managed payments or no more selling. I signed over to the mpp and for the first couple of sales it took me 4 or so days to get paid, but then started 2-3 days, then 1-2 days so now its pretty quick. Don't know why, but I feel and this is JMO, they are making sure you ship in a timely manner and once they see you do, they trust you and pay you faster. Maybe or maybe not. But wonder why everybody else has till now to sign over? Maybe I didn't really have to. Who knows. It is what it is. I always ship as soon as the P.O. is open.
    Jim

    They should already know your shipping history if you use eBay labels & tracking. Might be more about the interface with your bank the first time.

  • jt88jt88 Posts: 3,179 ✭✭✭✭✭

    It hold for 2 days then send to my bank. It is OK. I don't have problem with that. I like eBay managed payment better than PayPal.

  • GRANDAMGRANDAM Posts: 8,751 ✭✭✭✭✭
    edited June 30, 2021 8:13PM

    One thing I don't like about Managed Payments is that even if you have money in your account you can't use it to pay for anything that you might buy on eBay. It only lets you pay for USPS shipping from your balance.

    GrandAm :)
  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭

    Can't hide it from the wifey eh? ;)

    @GRANDAM said:
    One thing I don't like about Managed Payments is that even if you have money in your account you can't use it to pay for anything that you might buy on eBay. It only lets you pay for USPS shipping from your balance.

  • GRANDAMGRANDAM Posts: 8,751 ✭✭✭✭✭

    @amwldcoin said:
    Can't hide it from the wifey eh? ;)

    @GRANDAM said:
    One thing I don't like about Managed Payments is that even if you have money in your account you can't use it to pay for anything that you might buy on eBay. It only lets you pay for USPS shipping from your balance.

    The wife ran away 32 years ago :)

    GrandAm :)
  • U1chicagoU1chicago Posts: 6,503 ✭✭✭✭✭

    @GRANDAM said:
    One thing I don't like about Managed Payments is that even if you have money in your account you can't use it to pay for anything that you might buy on eBay. It only lets you pay for USPS shipping from your balance.

    In most cases, you are better off paying for items with your credit card and thus earning the 1%-3% rewards. Then pay your credit card bill in a timely manner with the money in your account (which will have cleared by the time your statement is due).

  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    I just filled out a managed Payment survey from eBay.

    I gave managed payments very low marks as it sucks.

  • BullsitterBullsitter Posts: 5,871 ✭✭✭✭✭

    No problems here, wish they would have done it sooner.

  • coinpalicecoinpalice Posts: 2,463 ✭✭✭✭✭

    i like managed payments, it breaks down the sale on what i net after fees, and i no longer have to pay final value fees manually, it is done automatically, and the money goes straight into my checking account, no more transferring funds from paypal

  • jmlanzafjmlanzaf Posts: 36,379 ✭✭✭✭✭

    @coinpalice said:
    i like managed payments, it breaks down the sale on what i net after fees, and i no longer have to pay final value fees manually, it is done automatically, and the money goes straight into my checking account, no more transferring funds from paypal

    Their spreadsheet is also easier to read than that crazy PayPal spreadsheet.

  • BigABigA Posts: 2,715 ✭✭✭✭

    @coinpalice said:
    i like managed payments, it breaks down the sale on what i net after fees, and i no longer have to pay final value fees manually, it is done automatically, and the money goes straight into my checking account, no more transferring funds from paypal

    Exactly...a no brainer

  • GRANDAMGRANDAM Posts: 8,751 ✭✭✭✭✭

    @U1chicago said:

    @GRANDAM said:
    One thing I don't like about Managed Payments is that even if you have money in your account you can't use it to pay for anything that you might buy on eBay. It only lets you pay for USPS shipping from your balance.

    In most cases, you are better off paying for items with your credit card and thus earning the 1%-3% rewards. Then pay your credit card bill in a timely manner with the money in your account (which will have cleared by the time your statement is due).

    Yes, I have started paying with a cash back card but I would still rather pay from my account t balance.

    GrandAm :)
  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    What the "F" is an in international charge? My client is in New York.

    So My eBay fee for this transaction is 8.5% PLUS 1.65% which equals 10.15 % fee from eBay managed payments.

    I will say it again, eBay Managed Payments sucks big time.

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