Ebay: Managed Payments...no more Paypal

You can adjust the frequency of the payout. Now I'm using daily and get paid every 2-3 days. The settings are daily and weekly (Tuesday). I've had 4 payouts since 12/15/20.

 

I guess I've put off the conversion to eBay managed payments for the maximum allowable time. They said today is the deadline (and we really mean it this time!) and sure enough, my selling pages are unavailable.

I too will be inputting a checking account that is not the one used for my household. No doubt I'll adapt to this new way of doing things. Their playground, their rules. Unfortunately, as pissed off as people have gotten about eBay over the years, a better solution that casts as wide of a net has yet to materialize.

 

Anyone else? Payments work well for me.

 

Yeah, I was thinking of using a new checking account just for ebay. Not sure yet, and it depends on how much I sell to see if it's even worth the trouble. Some banks won't let you open an account unless you have a specific amount in there or you are making high deposits each month. I don't sell enough on ebay to make those kind of deposits.

 

It is ridiculous getting a checking account if you never had one just for eBay. I think eBay will notice this and do both.

 

I haven't been moved to mangled payments yet, but opened a checking account a few days ago at the online place Chime. They are sending me a debit card which I can use for ATM withdrawals at a convenient place for free, and give bank routing and account numbers acceptable to eBay from what I hear.

 

Is there a monthly fee? Most banks don't waive the fee unless you maintain a minimum balance. So ebay will still have "reversal" money to pull out of your account.

 

How long does it take for this thing to kick in? I made the switch to managed payments yesterday. Today I issued a partial refund to a customer (I made a rare mistake in a listing) and also made a purchase. Both transactions came out of my PayPal account just like the good old days.

 

Kicks in pretty quick. I had payments in a few days.

 

No monthly fee, no minimum balance.

 

Not sure I understand how this works. I just got paid for an item and eBay asked me to ship. However, I go to my "Payment Options" screen and it says I have $0.00 balance (with $20.84 processing). Why would I ship if the processing isn't complete?

 

You need to go to Selling, Payments, Summary. See whats pending.

You might have to give it a few minutes to update.

 

It says $0.00 available funds & $20.84 processing. It's been like this for several hours.

I'm very confused - are they now holding our money until the item is delivered?

 

Under “Transactions” it says that order is processing. Does it move to “Available” when it’s complete?

 

No, but it may take a couple of days for it to be reflected. I had some hesitation when they rolled it out but it’s worked well for me.

 

Not until it's delivered - until they decide to pay you. Plus a couple of days.

 

Thanks!

 

Thanks!

 

One thing I haven’t figured out, and it’s come up a couple of times, is how to make a refund.

 

One big thing worth mentioning - they are charging the full Ebay fee for sales tax. And selling in the CD category also jumped up from what used to be ~ 12% to 14.35% , for some reason it is just CDs and "other media", but vinyl has not increased. So if someone pays say $50 in tax for an expensive item you'll be charged 14.35% on that tax not Paypal's old 2.9%. And 14.35% on whatever you charged for shipping as well and 14.35% on the cost of the item. I'm not much of a seller so I'm not sure if this big change in charging full fee on sales tax was made aware to sellers or it was a silent update. If it is the latter I imagine some sort of class action suit is in order.

I'll be keeping an eye on how their next quarterly report (even though I don't own their stock, it's a bit of a dog in the tech world), I imagine these increases in fees plus more people being at home buying things makes for a very nice quarter(s) for them.

I have a couple of sellers I regularly buy from that get lots of music in from deceased family members and I asked them why their CD pricing went up about 10-20% on their buy it now CDs.

And as a buyer it's also annoying because Paypal gave us 6 months of protection and sometimes you need that for buying CDs from international sellers, but Ebay's buyer purchase protection on managed payments is much lower, meaning I'd have to file a claim earlier than usual if a CD doesn't show up. And I'm really patient as I have had CDs from Japan turn up as much as 5 months later.

 

Missed the edit window, I see the discussion on bank accounts - all of the big online banks should have completely free checking (or equivalent whatever they call it, ie Fidelity calls it "Cash Management") with no minimums. Gone are the old days of forcing us to have a minimum amount of money in an account, these days with banks and online brokerages it's cut throat and they all have to compete with each other to keep a customer. In the last five years I've noticed a significant increase in quality, fees and customer service from Vanguard, Fidelity and Schwab.

Just one delayed things (ie 1099 adjustment) or long wait customer service experience and it's easy to blow it up online and it takes less than an hour to transfer with the new broker gladly giving cash bonuses for large incoming transfers, paying the other's ACAT fee, etc.

 

Really? Closing fees on sales tax? That's complete BS.

I don't sell anything where my margin isn't substantial (or else I just want it gone and don't care), so I don't monitor this stuff very closely. 12% or 14% I still make a good margin. But these increases in fees are egregious since inflation is built into selling prices.

 

You can still pay with your purchases with Paypal.

 

I hadn’t realized they were charging fees on sales tax but it’s not surprising since they do that on postage. Unfortunately, it (including this forum and Discogs) are the only game in town.

 

I totally understand why eBay had to resort to charging selling fees on postage. Back in the day, people were selling CDs for a penny and charging something like $8 in postage, thus using eBay's platform for free. So the saying goes, a few bad apples spoil the barrel.

As for fees under the new payment system, eBay is now dragging in what PayPal used to (2.x% plus a transaction fee). They aren't dumb and wouldn't ace out PayPal without taking their slice of the pie. But to charge fees against sales tax, that seems just wrong. But their likely excuse is the cost to manage tax collection in so many jurisdictions.

The claim is that most sellers will see fees go down. Time will tell if that is even remotely true.