Ebay: Managed Payments...no more Paypal

Discussion in 'Marketplace Discussions' started by visolo, Nov 13, 2020.

  1. starfieldroad

    starfieldroad chew up your love then swallow

    oops, slight correction to my Amzn comment:

    Beginning on September 1, 2020, we will display a seller’s business name and address on their Amazon.com Seller Profile page. For individuals, we will display the individual name and address. This is consistent with Seller Profile pages across Amazon stores in Europe, Japan, and Mexico.
     
    Matthew Tate likes this.
  2. shokhead

    shokhead Head shok and you still don't what it is. HA!

    Location:
    USA
    No more paypal, no more me buying on E-Bay since they sent me that e-mail.
     
    Matthew Tate likes this.
  3. Bobsblkwax

    Bobsblkwax Forum Resident

    Location:
    NorCal
    You know that you can still buy with Paypal?

    I haven't had any issues with the managed payment system up to this point. I actually prefer that they take their cut right away since I never liked getting those big commission invoices anyway.
     
  4. kwadguy

    kwadguy Senior Member

    Location:
    Cambridge, MA

    While that's the theory. The practice is that no small seller hobbyist who doesn't receive a tax form reports that income. With the move to issuing 1099-K to pretty much anyone who sells on these platforms, everyone will have to deal with this (> $600, and that INCLUDES shipping costs and does not get reduced for refunds and returns: Sell a used guitar for $500 + $100 shipping, and the buyer returns it? You still get the 1099-K). Even if you lose money on your eBay sales, you now still have to deal with reporting the "income" on your taxes.

    Oh, and the IRS/Congress was in a big rush to get these 1099-K forms, but didn't bother to actually make it easy to report that income. There's no focused 1099-K income worksheet. Because...why bother doing the entire job? So you'll need to decide HOW you want to declare that income, and how you want to indicate the cost basis. And whether you'll want to declare it as self-employment.
     
    LordThanos1969 likes this.
  5. kwadguy

    kwadguy Senior Member

    Location:
    Cambridge, MA
    If you move to eBay Managed Payments you A) Still accept PayPal and B) can still pay with PayPal. It just goes through eBay's middleman hands (at no additional cost to buyer/seller relative to the way it was before).
     
    Matthew Tate and starfieldroad like this.
  6. shokhead

    shokhead Head shok and you still don't what it is. HA!

    Location:
    USA
    Good to know. Thanks!
     
    Matthew Tate likes this.
  7. shokhead

    shokhead Head shok and you still don't what it is. HA!

    Location:
    USA
    :righton:
     
    Matthew Tate likes this.
  8. shokhead

    shokhead Head shok and you still don't what it is. HA!

    Location:
    USA
    Updated my AMEX but didn't find paypal anywhere.
    Found it, done, Thanks again to all
     
    Last edited: Jul 22, 2021
    Bobsblkwax likes this.
  9. hardknox

    hardknox Forum Resident

    Location:
    Earth
    Given that ebay now asks all sellers for their SSN, what are the chances that they will jump the gun and send 1099-Ks to all sellers in 2021, irrespective of the current $20K cut-off? Ya know, they can say it's just "practice" for next year when it's actually required. :rolleyes: Many sellers are scrambling to sell off goods this year before the new limit kicks in.
     
  10. Matthew Tate

    Matthew Tate Forum Resident

    Location:
    Richmond, Virginia

    where is this located? I can still accept paypal as payment ?
     
  11. kwadguy

    kwadguy Senior Member

    Location:
    Cambridge, MA
    When eBay manages payments, buyers can pay using credit, debit, and gift cards; Apple Pay, Google Pay, PayPal, and PayPal Credit.

    eBay is managing payments
     
    Matthew Tate likes this.
  12. Matthew Tate

    Matthew Tate Forum Resident

    Location:
    Richmond, Virginia
    but they still want my info right?
     
  13. kwadguy

    kwadguy Senior Member

    Location:
    Cambridge, MA
    eBay? Yes. eBay requires your personal info (and an attached bank account into which they can transfer your money). The buyer is paying eBay and does not require your personal info.
     
  14. Jump Cut

    Jump Cut Well-Known Member

    Location:
    Fresno, CA
    I'm a small time seller, selling maybe a dozen items a year or so. I decided to go ahead and create a second checking account with my credit union just for eBay. Can't risk eBay touching funds from my main checking account where my paycheck goes and my bills are paid from. Maybe it's being paranoid, but I just can't risk it.

    I've sold a couple of small items just to see how debits/credits are going to work. Seems like I've figured it out but it feels like I'm constantly having to monitor my account.
     
  15. Lord Hawthorne

    Lord Hawthorne Currently Untitled

    Location:
    Portland, Oregon
    That's a smart policy for all internet purchases.
     
  16. rob68

    rob68 Forum Resident

    Location:
    Michigan
    When you issue a full refund to a buyer on ebay, do you issue the full amount the buyer paid (before sales tax) or do you issue the amount you received after ebay took their fees? I guess I'm asking whether or not ebay forfeits their fees when you do a refund.
     
    Matthew Tate likes this.
  17. Matthew Tate

    Matthew Tate Forum Resident

    Location:
    Richmond, Virginia
    no i think ebay keeps their fees
     
    rob68 likes this.
  18. rob68

    rob68 Forum Resident

    Location:
    Michigan
    That's what I thought. Thanks.
     
    Matthew Tate likes this.
  19. rob68

    rob68 Forum Resident

    Location:
    Michigan
    I just did the refund and ebay's fees from the order actually went toward the refund. :righton:

    All but the 30 cent listing fee.

    But now they're showing me with a $49.85 negative balance (my portion of the refund) and I can't tell if they're going to take that amount from my bank account or take it out of future sales.
     
    Matthew Tate likes this.
  20. MC Rag

    MC Rag Forum Resident

    I'm in the UK so I don't know if it is different but I rang up Ebay about refunds and they told me I would be refunded their fee as long as the refund was at least 80% of the sale price, otherwise they keep the fee.
     
    rob68 likes this.
  21. Cast Iron Shore

    Cast Iron Shore Forum Resident

    Location:
    US
    I had a recent nightmare experience due to managed payments detailed here. I decided I’m never going to sell anything on eBay again.
     
  22. shokhead

    shokhead Head shok and you still don't what it is. HA!

    Location:
    USA
    I suspect you won't be the last.
     
    LordThanos1969 and Matthew Tate like this.
  23. Matthew Tate

    Matthew Tate Forum Resident

    Location:
    Richmond, Virginia

    cool I didn't know what they did now
     
    rob68 likes this.
  24. R. Totale

    R. Totale The Voice of Reason

    I don't sell stuff on eBay in the summer, so I'm just now getting to try Mangled Payments and it works so far. I opened up a free online checking account (there are many, I used Chime) and two eBay payments so far were correctly and fairly swiftly credited. I went to a local ATM and got long green cash without having to pay to extract it. Only drag was the ATM only dispenses $20s so I had to leave $10 more in there than I wanted to. But no big deal, I had already sent $10 to seed the account anyway. I just wanted to insulate the eBay payments account from any of my real checking accounts, and so far so good.
     
    slipkid, Matthew Tate and SJP like this.
  25. The 30 cent fee is not a listing fee, that is an eBay sales collection fee, eBay calls it a final value fee. You pay any listing fees separately when using eBay, whether the item sells or not. For me, almost all of my listing fees are waived because I usually list less than 250 items.

    There is a fee I haven't been hit with before, a 1.65% international fee because the buyer was registered in Japan. My listing indicated shipping only in the US and the address shipped to was a business in the US. I need to find a way to prevent international buyers from bidding, whether the item is shipped to the US or not to avoid that fee. Here is the eBay fee breakdown for that transaction, 19% of the sales price.

    • Item price
      $19.44

    • Sales tax
      $1.46

    • Fees based on
      $20.90
    Final Value Fee

    -$3.04
    Variable percentage • Music category
    Rate for $0.00 - $7,500.00
    14.55%
    International Fee
    1.65%
    -$0.34
    Charged because the buyer’s registered address is in Japan. Final amount: $20.90.

    Item fee total
    -$3.38
    Final Value Fee
    -$0.30
    Per order fixed amount

    Total fees
    -$3.68
     

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