ebay managed payments - anyone using this future mandatory service yet?

[teza11]

I've been paid. Here's an example of a single sale. Card sold for $19.95.
Shipping was another $4.20. Total order was $24.15. Appears they took 11.5% ($2.78) plus $0.30 for a total charge of $3.08. That leaves $21.07 as my MP payout.

I also just changed MP payouts from my bank to PayPal. I'll provide an update after the first transaction.

Jeff

[Eddiez]

Jeff,
Thanks for the info I'll have to take another look at my payouts. Are you saying you can have MPs go to paypal instead of your bank? If you do get that done please let me know as I want to do the same. Thanks Eddie

[teza11]

Completed my first eBay MP transaction between eBay and PayPal direct deposit. Very impressed. EBay sent payment early this morning and it was posted to my PayPal account by mid-afternoon.

Jeff

[thecatspajamas]

Originally Posted by teza11

I also just changed MP payouts from my bank to PayPal. I'll provide an update after the first transaction.

Jeff

Quick question, when you put in the routing and account number for your Paypal account on eBay, did it show up as a Wells Fargo account? That is what is happening for me when entering the account numbers manually. I'm guessing that if I dig into it far enough, I would find that Paypal is the "payments processor" only and any funds held in Paypal are actually in a Wells Fargo account, but that is just a guess. Anyway, just trying to verify if my sign-up experience is same as yours was. Thanks!

[Eddiez]

Jeff how do you get it changed over so your money goes straight to PayPal? Thanks Eddie

[teza11]

Lance - yes, the PayPal financial institution does show as Wells Fargo.

Eddie - you need to ask PayPal to provide you direct deposit and bank routing directions. Once received, you can update your MP "Payout Method" in less than a minute.

Jeff

[Baseball Fan]

For those that didn't make the switch but had some things still listed, has it been determined that those keep rolling over and you are able to sell whatever you had listed before the deadline arrived?

I have to switch by Dec. 31 but I'm thinking about listing as much as possible before that and then retiring from eBay.

[joejo20]

Originally Posted by Baseball Fan

For those that didn't make the switch but had some things still listed, has it been determined that those keep rolling over and you are able to sell whatever you had listed before the deadline arrived?

I have to switch by Dec. 31 but I'm thinking about listing as much as possible before that and then retiring from eBay.

All of my previous listings rolled into managed payments but they were all BIN style. Not sure about auction style. Joe


Sent from my iPhone using Tapatalk

[thecatspajamas]

Originally Posted by Baseball Fan

For those that didn't make the switch but had some things still listed, has it been determined that those keep rolling over and you are able to sell whatever you had listed before the deadline arrived?

I have to switch by Dec. 31 but I'm thinking about listing as much as possible before that and then retiring from eBay.

Any Good Til Cancelled listings you have active before your drop-dead date will remain active and available for purchase until sold or ended by you. Whether eBay continues to include them in search results or disadvantages them in some way is not clearly indicated, but it seems likely that, all else equal, they will promote listings that are in Managed Payments over listings for the same items that are not in Managed Payments.

Any store subscriptions you have remain active and charged at the full rate, regardless of whether you can actually add new listings, and the same early-termination penalties for cancelled or downgrading your Store prior to the end of the annual term will apply.

That said, I am not 100% certain whether / how eBay actually blocks sellers from adding listings. My own experience was that unrelated issues with adding listings cropped up at about the same time as my deadline for entering Managed Payments, leading me to believe that eBay was blocking me from adding new listings. I'm now certain that the issue was not related (still an eBay issue, but unrelated to Managed Payments), but the timing was such that I went ahead and made the move rather than risk being cut off.

I have heard from at least one other who was still able to add new listings after their drop-dead date, which makes me wonder if I actually had to transition after all, but there's no "undo button" or save points in life or Managed Payments that would allow me to go back and try things differently. So far, Managed Payments has been okay, but I much preferred the previous arrangement with Paypal as the processor. As it is, with the delay in transferring funds from my bank account to Paypal (mostly to cover recurring expenses previously set to draft from my Paypal balance), I find myself both not using Paypal for making purchases, and making fewer purchases in general. I haven't had any issues with receiving my payouts from Managed Payments, but the delays and friction that the change has introduced in receiving and using those funds have made me much less likely to spend them back on eBay than when Paypal was my payments processor.

In my case, quitting eBay altogether wasn't really an option, but if you're looking at quitting eBay as an ultimate outcome anyway, what you have suggested seems reasonable. There wouldn't be any kind of penalty for loading up on new listings at the last minute (other than the usual listing fees that would otherwise apply), so the only risk would be sunk cost from listing or subscription fees if eBay hides the items from search visibility, or possibly early-termination fees for a store subscription. Otherwise, if something sells, you would continue to receive the funds in your Paypal account as usual until you opt in to Managed Payments, and I would be curious to hear if you are actually cut off, or still able to add new listings after your deadline. Either way though, I have not heard of any instances of eBay holding the proceeds from realized sales hostage to try and force a transition to Managed Payments.

[Baseball Fan]

Thanks for taking the time to give so much great info.

I'm a casual seller on eBay - use it mostly as a way to "edit" my collection - and don't have a store. I'm going to list a bunch of stuff by the end of this month and see if it works.

Maybe I'll eventually have to sign up for the new way of doing things, since it doesn't sound like too much of a horror show for any people here yet. I'm a creature of habit so I hate the thought of having to do anything different than what I'm accustomed to on eBay.

[Baseball Fan]

Originally Posted by thecatspajamas

Otherwise, if something sells, you would continue to receive the funds in your Paypal account as usual until you opt in to Managed Payments, and I would be curious to hear if you are actually cut off, or still able to add new listings after your deadline. Either way though, I have not heard of any instances of eBay holding the proceeds from realized sales hostage to try and force a transition to Managed Payments.

Just wanted to update you since you said you'd be interested in hearing how things went.

I was supposed to switch over on Jan. 1, but I had decided that I was going to "retire" from eBay and just list as many things as I could and maybe someday decide to sign up for their new way of doing things.

Any way, they then extended the warning until Jan. 15. Then Jan. 25. Then I was still able to list on Jan. 26.

Today, they finally cut me off. So, you do have to eventually make the switch if you want to keep selling.

[conor912]

I sell on ebay every once in a while and I switched over a couple weeks ago. It’s ludicrous. Instead of funds showing up instantly in your PP account, they go through a “processing”period and then a “payout” is made in the form of a bank transfer. Before, if I made a sale, as soon as payment was made I had access to the funds. Now it takes 4-5 days from time of payment to clearing my bank.

As far as fees go, I’m still not exactly sure how they are calculating. One sale was $529 minus $70.04 in fees = 13.24% and another was $330 minus $41.06=12.44%. Maybe they’re on a sliding scale now? IDK. All I do know is my eBay selling days are numbered.

[Mark17]

I set up a new account at my bank for ebay to connect to, and it works fine. Cash accumulates there instead of in my PayPal account. The ebay account is insulated from my other accounts, so in the event of a dispute or charge-back, only the ebay account can be impacted. When the balance gets high enough, I move money from the ebay account to my regular account, same as I used to do with PayPal.

I find the new process painless.

[PhillyFan1883]

Friends have the paying fees changed on ebay??? My understanding is 13 percent, 3 to paypal 10 to ebay..

Has this changed with the new payout method ???? What do I expect when I sell my card ?

Thanks in advance.

Connor

[pow323]

Originally Posted by Eddiez

Jeff how do you get it changed over so your money goes straight to PayPal? Thanks Eddie

Eddie, They will not send your payment to Paypal it will have to go to your bank account. I tried that and it will not work. Marc

[Jewish-collector]

I'm a small time, low end seller. Can someone explain to me why they haven't forced me to go to managed payments ? Is it just for large volume sellers ?

[thecatspajamas]

Originally Posted by Jewish-collector

I'm a small time, low end seller. Can someone explain to me why they haven't forced me to go to managed payments ? Is it just for large volume sellers ?

Eventually, it will be for everyone. Eventually. But they do appear to have started from the top down. Which kind of makes sense when you consider that it's no less effort on their part to get a small seller to switch over than a large seller, but the payoff in additional fees that they then collect is bigger with a large-volume seller.

One might also assume that a large seller would be less likely to walk, thereby cutting off that revenue stream, than a part-time / hobby seller would be, but I've not seen any kind of numbers on that (not sure how one would go about compiling those anyway, other than from a handful of anecdotal accounts, as eBay sure isn't being clear with either the seller adoption rate or a hard timeline for full turnover).

[Pat R]

I've only sold 5 or 6 cards on ebay in 18 years and I got an email that
said I had until January 25th to update.