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

Orioles1954 · #1 11-11-2020, 09:51 PM

I just signed up on Sunday. Is there a lag time between "payouts" and it showing up in your account? Three things are happening...

1.) There are confirmed payouts but nothing is coming into my checking account (after 2 days)

2.) They want me to update some account details, but I have already done so.

3.) My credit union wasn't on their list so finding another way to get paid is a massive pain in the ass.

thecatspajamas · #2 11-11-2020, 10:05 PM

Quote:

Originally Posted by Orioles1954

I just signed up on Sunday. Is there a lag time between "payouts" and it showing up in your account? Three things are happening...

1.) There are confirmed payouts but nothing is coming into my checking account (after 2 days)

2.) They want me to update some account details, but I have already done so.

3.) My credit union wasn't on their list so finding another way to get paid is a massive pain in the ass.

1. When I get a "we've sent your Payout" notice from eBay, the funds are consistently in my checking account the next day. Depending on when the sales occur, there is a 2-day lag in eBay sending the Payout, but they do not send Payouts on Saturday or Sunday. So the result is that for sales occurring on Monday or Tuesday, the funds are in my account 3 days later. For sales occurring on Wednesday, Thursday or Friday, the funds are in my account 5 days later, with Saturday and Sunday sales being lumped in with the Friday payout.

2&3. Best advice for a smooth transition is to make sure your name on your eBay account EXACTLY matches the name on the checking account you are depositing to.

Even with that, I still had to send them a copy of a statement for my checking account to verify my identity. Because I had just set up a new account exclusively for eBay deposits, this meant waiting several weeks until they sent a monthly statement. I probably could have gone in person to a local branch and gotten something that would suffice, but this was during the height of COVID restrictions, and going in person to the bank seemed like an unnecessary risk, with or without a mask. (Personally, I still would feel strange going into a bank with a mask on, though I hear that is generally accepted these days).

I understand from others that if you have a Personal or account with Paypal, you may be able to arrange for your deposits to be made to that account. I attempted to set up a separate Paypal account do so initially (my primary Paypal account is a Business account, which still does not allow direct deposits, as I just re-confirmed yesterday). However, I could not satisfy the "send us a statement" requirement to verify my ID with anything that Paypal would generate, and so wound up setting up the checking account instead. Ebay asks for specific information to be included on a single-page statement, but while I could get separate documents from Paypal that had all of the required information, none were available that had it on the same sheet. It's possible that, having now verified my identity with the checking account, I could switch over to depositing to the Paypal account, but operating two Paypal accounts would wind up being even more problematic than two checking accounts, so I haven't bothered. It's Paypal's loss really if they can't or won't figure out a way to allow Business account users to deposit their eBay sales proceeds directly to their Paypal account.

Orioles1954 · #3 11-11-2020, 11:54 PM

I�m just confused why they would give me payouts starting on 11/9, but still ask for me to update my account details? Is my $$$ in some kind of limbo?

Directly · #4 11-12-2020, 06:42 AM

Quote:

Originally Posted by Orioles1954

I�m just confused why they would give me payouts starting on 11/9, but still ask for me to update my account details? Is my $$$ in some kind of limbo?

possibly--you may need to get a letter or confirmation of your bank accounting number if using a Credit Union for your Ebay sales deposits and upload the information to Ebay .

thecatspajamas · #5 11-12-2020, 07:28 AM

Also keep in mind that yesterday being Veterans Day, which is typically a bank holiday, may throw things off by a day as far as the funds showing in your account.

I do recall when I went through the process getting the "You're All Set!" confirmation e-mail from eBay, followed the next day by another "We Need More Information" e-mail. Once I sent them a pdf of the bank statement though, the payouts transferred as stated above.

Throttlesteer · #6 12-01-2020, 11:47 AM

I've decided I'm done selling on Ebay. I get that the new managed payments functionality works and might be saving sellers a bit. But between the lack of seller protection against scammers and the requirement of providing my social security number to get set up, I'm done.

I guess it's BST exclusively from here on out.

4scuda · #7 12-01-2020, 02:11 PM

I have not signed up yet as I was also concerned why they need my social security number. Seems like one more place to get your information hacked

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