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

[highgradelegends]

Just curious on any early reviews/feedback from sports card sellers actively using ebay managed payments now (may be you signed up a while ago?). Little change from PayPal or big changes? Positive? Negative? pros / cons?

Also, does a seller's managed payments account directly link to their ebay store or can you list items contained within a single store under multiple managed payments accounts, as when you share a single store with a spouse selling different types of non-card items? I can do this now using different paypal email addresses linked to distinct listings to keep things orderly in a single store and would love for flexibility to continue.

[xplainer]

Not sure how all this will work out.
I did go ahead and create a CashApp and Venmo accounts. Both have debit cards for cash access.
Been using them on various websites to sell and been pretty easy and smooth.
I also like the fact they are right on my phone for easy access.

I don't sell a lot on ebay anymore due to the scams and shams they happens.

I think the end of the month is when they change takes place.

[bobbyw8469]

Originally Posted by xplainer

Not sure how all this will work out.
I did go ahead and create a CashApp and Venmo accounts. Both have debit cards for cash access.
Been using them on various websites to sell and been pretty easy and smooth.
I also like the fact they are right on my phone for easy access.

I don't sell a lot on ebay anymore due to the scams and shams they happens.

I think the end of the month is when they change takes place.

It's happening as we speak. It won't let me list anymore.

[xplainer]

Originally Posted by bobbyw8469

It's happening as we speak. It won't let me list anymore.

Wow.
What are the payment options?
Is there a new registration process?

[bobbyw8469]

Originally Posted by xplainer

Wow.
What are the payment options?
Is there a new registration process?

The new payments options are you sign up with Ebay and let them manage your payments. That is it. They have officially kicked Paypal to the curb.

[rats60]

Originally Posted by bobbyw8469

The new payments options are you sign up with Ebay and let them manage your payments. That is it. They have officially kicked Paypal to the curb.

They haven’t contacted me about this. I sold an item yesterday and was paid with PayPal.

[bobbyw8469]

Originally Posted by rats60

They haven’t contacted me about this. I sold an item yesterday and was paid with PayPal.

Same.....it doesn't affect anything you already have listed. If you haven't signed up for their new "managed payments" yet, then you are officially done on Ebay - at least as far as selling goes.

[thecatspajamas]

Originally Posted by highgradelegends

Also, does a seller's managed payments account directly link to their ebay store or can you list items contained within a single store under multiple managed payments accounts, as when you share a single store with a spouse selling different types of non-card items? I can do this now using different paypal email addresses linked to distinct listings to keep things orderly in a single store and would love for flexibility to continue.

I'm curious as to how you're doing this now? All of my buying and selling activity links back to the same Paypal account, so it has never occurred to me to split incoming funds between multiple Paypal accounts, but I am curious as to how you have this set up to do so? I'm assuming the subscription fees for the store itself link to a single account?

[highgradelegends]

Originally Posted by thecatspajamas

I'm curious as to how you're doing this now? All of my buying and selling activity links back to the same Paypal account, so it has never occurred to me to split incoming funds between multiple Paypal accounts, but I am curious as to how you have this set up to do so? I'm assuming the subscription fees for the store itself link to a single account?

Answer:

I have a traditional checking bank account linked to my email address linked to a personal a paypal account.

My wife sells more higher value items than me on average and she has a traditional savings account linked to her email address linked to her personal paypal account.

On the ebay platform, when you create a listing, ebay asks you to manually type in the paypal account email address you want for payment. Sometimes ebay will use automation to plug in the default payment address you set up on your ebay account; however, you can manually changed it, either in individual listings or by editing listings in aggregate. So we use a single ebay store and then list our items in that same store, but each distinct auction listing is linked directly to the paypal accounts we choose. This has worked flawlessly for 10+ years. We have no need for two stores, so we are concerned we cannot do this present system of account in a single store, as we are not yet signed up to managed and cannot see how the listings link to new payments accounts. My fear is each ebay selling account requires its own payments account and that you cannot mix and match different payments accounts for various listings inside of a single store. I contacted ebay outsourced customer service and they could not explain to me how this will work. As a result, we have resisted the forced transition, but like others, have now run out of time.

If anyone is already using managed payments, I would like to know your feedback on how the payment accounts are linked to ebay stores.

[C-mack]

I love it! Let's the people pay with whatever and ebay collects the loot and 2 to 3 days later it's in my account with fees already taken out

[teza11]

Another possible upside for sellers with more than 200 transactions and greater than $20k in sales is that the mid-year transition effectively resets the clock back to Jan 1. In other words, PayPal will base the issuance of their 2020 1099’s on sales from Jan 1 through eBays cut-over to managed payments. EBay will begin tracking and reporting 1099 sales from the go-live date of their managed payments program. So one could sell $39k between the two and not trigger a 1099. Just say’n. Not giving tax advice or encouraging anyone to not pay their taxes in full.

Jeff

[Hot Springs Bathers]

When did this officially begin. I don't sell much but I listed items yesterday with no problem. Is it just for eBay store accounts?

[Jewish-collector]

So are sellers that rarely list or list very low dollar amounts then not required to change to managed payments ?

[thecatspajamas]

At this point, it is only those who have been notified that they are being changed over. Anecdotally, it does appear that the more active selling accounts are the ones being notified, but eBay has not given a clear indication of what their criteria for who gets the forced switchover they are using.

[thecatspajamas]

Originally Posted by bobbyw8469

It's happening as we speak. It won't let me list anymore.

I am hitting that wall now as well for new listings. Watching some Good 'Til Cancelled listings that are due to renew for another 30 days later today to see what happens with those. This in advance of the stated July 15 deadline to sign up.

I also got an "Independence Day" offer of a $50 invoice credit if I would go ahead and sign up for MP before July 10, which implies a certain amount of desperation on eBay's part.

I don't know what's going to happen "in late July" (still annoyed that there is not a definitive date the axe is set to fall), but it's sure to be a mess.

[bobbyw8469]

Originally Posted by thecatspajamas

I am hitting that wall now as well for new listings. Watching some Good 'Til Cancelled listings that are due to renew for another 30 days later today to see what happens with those. This in advance of the stated July 15 deadline to sign up.

I also got an "Independence Day" offer of a $50 invoice credit if I would go ahead and sign up for MP before July 10, which implies a certain amount of desperation on eBay's part.

I don't know what's going to happen "in late July" (still annoyed that there is not a definitive date the axe is set to fall), but it's sure to be a mess.

Most definitely. I never signed up, but they turned my ability to list back on. On both accounts. And yes, both got the letter telling me I HAD to sign up.

[earlywynnfan]

Originally Posted by teza11

Another possible upside for sellers with more than 200 transactions and greater than $20k in sales is that the mid-year transition effectively resets the clock back to Jan 1. In other words, PayPal will base the issuance of their 2020 1099’s on sales from Jan 1 through eBays cut-over to managed payments. EBay will begin tracking and reporting 1099 sales from the go-live date of their managed payments program. So one could sell $39k between the two and not trigger a 1099. Just say’n. Not giving tax advice or encouraging anyone to not pay their taxes in full.

Jeff

Are you sure about this? Doesn't ebay count transactions and payments even though they go through paypal? If I rack up 19K via paypal, then 19K the new way, I'd imagine I'd get a 1099 from ebay for 38K. Another headache for my accountant!

[highgradelegends]

Originally Posted by earlywynnfan

Are you sure about this? Doesn't ebay count transactions and payments even though they go through paypal? If I rack up 19K via paypal, then 19K the new way, I'd imagine I'd get a 1099 from ebay for 38K. Another headache for my accountant!

Ebay and paypal do not coordinate or aggregate tax information. They are independent. PayPal is a fo financial institution. Ebay is not....well...until they have managed payments up and running. Bottom line: the temporary advantage stated here is correct.

[thecatspajamas]

Originally Posted by thecatspajamas

I am hitting that wall now as well for new listings. Watching some Good 'Til Cancelled listings that are due to renew for another 30 days later today to see what happens with those. This in advance of the stated July 15 deadline to sign up.

I also got an "Independence Day" offer of a $50 invoice credit if I would go ahead and sign up for MP before July 10, which implies a certain amount of desperation on eBay's part.

I don't know what's going to happen "in late July" (still annoyed that there is not a definitive date the axe is set to fall), but it's sure to be a mess.

Well I let the $50 invoice credit slide by, and today is the deadline for me to sign up. So far, I still cannot add new listings, but those that were on Good 'Til Cancelled are rolling over to another 30 day cycle without issue. There has been no noticeable change in the rate of sales for those fixed price listings, though I haven't been running auctions in the interim. Still waiting this one out to see how it all goes down. My curiosity is worth more than the $50 credit at this point.

For anyone looking to make the switch, from what I have heard, you would do well to verify in advance that your name and address associated with your checking account match exactly what you have registered with eBay (easiest to modify your eBay registration to match). Otherwise, even if only a middle initial is different, they start asking for additional information to verify you are who you say you are, and the array of hoops you have to jump through gets longer.

[bobbyw8469]

Originally Posted by thecatspajamas

Well I let the $50 invoice credit slide by, and today is the deadline for me to sign up. So far, I still cannot add new listings, but those that were on Good 'Til Cancelled are rolling over to another 30 day cycle without issue. There has been no noticeable change in the rate of sales for those fixed price listings, though I haven't been running auctions in the interim. Still waiting this one out to see how it all goes down. My curiosity is worth more than the $50 credit at this point.

For anyone looking to make the switch, from what I have heard, you would do well to verify in advance that your name and address associated with your checking account match exactly what you have registered with eBay (easiest to modify your eBay registration to match). Otherwise, even if only a middle initial is different, they start asking for additional information to verify you are who you say you are, and the array of hoops you have to jump through gets longer.

Never have a seen a company make it so difficult to do business with them.

[thecatspajamas]

Almost as if they were watching my posts here, I got an e-mail with this header within minutes of my last post:

Final Reminder: You cannot create new listings after July 15th

They haven't allowed me to create new listings for 2 weeks now. Still waiting to see what changes tomorrow...

[teza11]

eBay just threw a bone out to all sellers. Sellers on their Managed Payments program get even more...10k more fixed price listings per month for basic store subscribers (like me) in select categories. Yes...select categories do include sports cards and collectibles. Now I'm just waiting on their next email to say that store subscriptions are being increased.

Jeff

[sportscomicfantasy]

Originally Posted by teza11

eBay just threw a bone out to all sellers. Sellers on their Managed Payments program get even more...10k more fixed price listings per month for basic store subscribers (like me) in select categories. Yes...select categories do include sports cards and collectibles. Now I'm just waiting on their next email to say that store subscriptions are being increased.

Jeff

I think they are doing it partially because of the virus to increase sales while more people are home and have more time to play around but I could be wrong.

But they also like to do it because it causes the sellers to eventually up their subscription level once the free promotion is over.

[highgradelegends]

Originally Posted by teza11

eBay just threw a bone out to all sellers. Sellers on their Managed Payments program get even more...10k more fixed price listings per month for basic store subscribers (like me) in select categories. Yes...select categories do include sports cards and collectibles. Now I'm just waiting on their next email to say that store subscriptions are being increased.

Jeff

what are the select categories.....and is that cards?

[Jewish-collector]

I'm confused. I have NOT gotten any messages at all about managed payments. Do I still need to worry about it ?

[hcv123]

Haven't made the switch yet. The information I have been seeing is saying that everyone will be switched by year end.

Big problem - you cannot sell in all categories if you accept managed payments!! The 2 that affect me are 1) no adults only listings and 2) no coins and paper money!!! There are others - I do not remember them.

Irony is I read a Q & A a while ago addressing this exact point which Ebay replied to at that point that you would be able to sell in all categories and nothing would change.

I sent them a question addressing it directly and I got back a response essentially mirroring the info I had read - apologizing for the "inconvenience" and stating they are working to make the MP program more inclusive.

Those categories are a small % of what I sell and I'm not happy about it, what are the coin dealers going to do!!??

[thecatspajamas]

Originally Posted by highgradelegends

what are the select categories.....and is that cards?

Yes, the "select categories" appear to include all leaf categories under the Collectibles and the Sports Memorabilia, Fan Shop and Sports Card branches, which would include both sports and non-sport cards.

[thecatspajamas]

Originally Posted by Jewish-collector

I'm confused. I have NOT gotten any messages at all about managed payments. Do I still need to worry about it ?

Not yet. Ebay will give you notice via e-mail and incessant on-site messages when you're to be included in the next wave.

[buymycards]

I read that eBay currently has 50,000 sellers who are using the Managed Payments, and they have another 250,000 who are registered. eBay wants to complete the 250,000 before the end of July, before they start the next wave.

[teza11]

eBay just activated my account for managed payments. Fingers crossed!

Jeff

[bobbyw8469]

Originally Posted by teza11

eBay just activated my account for managed payments. Fingers crossed!

Jeff

May you not got screwed over!!! Here's hoping you don't!!

[teza11]

Well, not exactly the day 1 I was hoping for. I am unable to print eBay shipping labels. Their customer service agent says it's unrelated to the cut-over to the managed payments program, but I was not having any issues prior. Anyone else experiencing issues printing eBay labels?

Jeff

[Eddiez]

I have been switched over and can print labels fine. I still haven't seen any money from sales yet but did get a email that money was being send to my bank.

[thecatspajamas]

Originally Posted by Eddiez

I have been switched over and can print labels fine. I still haven't seen any money from sales yet but did get a email that money was being send to my bank.

So this was printing labels using funds still in Managed Payments? Or printing them on eBay but funded from Paypal as was their previous set-up? I'll also be curious to hear from you or anyone else in the latest wave of inductees when the funds successfully deposit in your account, and if there were any discrepancies with the new fee structure.

Originally Posted by teza11

Well, not exactly the day 1 I was hoping for. I am unable to print eBay shipping labels. Their customer service agent says it's unrelated to the cut-over to the managed payments program, but I was not having any issues prior. Anyone else experiencing issues printing eBay labels?

Jeff

Jeff, if you could, please let us know when you have successfully moved any funds from MP to Paypal by direct deposit, and what steps you took to set that up (as you had indicated in the previous thread that Bobby started).

I have had a couple of separate chats now with Paypal associates who at first seemed to indicate they were looking at providing a similar option for Paypal Business account users, where the Business account would be provided an account number and routing number as necessary to set up direct deposits. But my follow-up inquiry asking for any updates turned to the rep providing "workaround" options that essentially involved setting up new/separate accounts rather than a solution for how to get the funds directly into my existing Business account. When I advised the last rep that I chatted with that, by making it harder for eBay sellers to get the proceeds from those sales into their Paypal accounts, they are making it much more likely that those sellers will opt to bypass Paypal altogether when spending those funds, she indicated she would pass the message along to her manager.

Anyway, all of that is to say that it is looking more and more like my only option to dump the MP proceeds directly to Paypal would be to set up a separate Personal Paypal account, which in turn requires setting up a separate checking account to link it to (the last rep advised I would not be able to link multiple Paypal accounts to a single bank account), which has me questioning whether this is all worthwhile to start with. If I do go down this path though, I'd like to be sure I'm duplicating the steps to getting it to work successfully from the start.

As I stand right now still as a holdout, eBay is still rolling over the Good Til Cancelled listings to the next 30-day cycle rather than killing them, but they are not allowing me to add new listings, either through third-party API or directly on the eBay website. My active items are still selling at a decent pace though, and the funds still transferring to my Paypal account as usual, so I'm not eager to mess with anything that would interrupt cash flow for an indeterminate period of time. I've pretty much opted to coast until getting word that there is actually light at the end of the tunnel, so I really appreciate the updates from you guys and any others who have already opted in.

[Eddiez]

I have paid both ways at first the money came from paypal but a day or 2 later it started coming from managed payments. Hope this helps. Eddie

[teza11]

Thanks for the info on labels Eddie. Whatever the issue, it seems to have been resolved as I can now create and print.

Lance - currently managed payments allows the choice of either PayPal or eBay Funds to cover the cost of labels. It's just a radio button that you select based on your preference.

I have not yet received any funds direct from eBay. I am still linked to my bank account and want to make sure that the money flows correct before making the account change to PayPal direct deposit.

Jeff

[BlueDevil89]

I think I'll be quitting eBay altogether when they require me to register. I checked it out. They insist that you give up your social security number. No reason whatsoever to require your SSN. Once eBay gets hacked, and all sites get do get hacked, you are done when the identity thieves get ahold of your SSN.

[teza11]

eBay needs your SSN to generate 1099's at year-end if you meet their reporting criteria.

Jeff

[BlueDevil89]

Well, they ain't gettin' my social security number.

eBay is ripe for identity thief hackers to target.

Rather buy and sell and trade cards here and elsewhere then give up my SSN. eBay is not my employer.

[MikeGarcia]

Originally Posted by teza11

eBay needs your SSN to generate 1099's at year-end if you meet their reporting criteria.

Jeff

..So then , just have two or three different E-Bay names and accounts , and keep total sales for each account under ten thousand $ in sales ?? ..I can't be the first tax-evading genius to think of this ??

..

[earlywynnfan]

Originally Posted by BlueDevil89

Well, they ain't gettin' my social security number.

eBay is ripe for identity thief hackers to target.

Rather buy and sell and trade cards here and elsewhere then give up my SSN. eBay is not my employer.

Not disagreeing with the sentiment, but I bet 20 bucks your SS is already out there on the darkweb.

[Eddiez]

Has anyone else been paid in managed payments? I'm wondering do they pay you minus 10% for fees and 2.75% for managed payments? I've got 2 payments and it looks like they only took the 2.75%. Just wondering how this all will work, I think a lot of people are. Thanks for any info. Eddie

[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

[buymycards]

Originally Posted by MikeGarcia

..So then , just have two or three different E-Bay names and accounts , and keep total sales for each account under ten thousand $ in sales ?? ..I can't be the first tax-evading genius to think of this ??

..

Then you will have to provide your Social Security number for all 3 accounts.

[savedfrommyspokes]

Originally Posted by Eddiez

Has anyone else been paid in managed payments? I'm wondering do they pay you minus 10% for fees and 2.75% for managed payments? I've got 2 payments and it looks like they only took the 2.75%. Just wondering how this all will work, I think a lot of people are. Thanks for any info. Eddie

I have now received multiple payments since I started Monday with MP. Here is what I have seen in regards to what is being taken out. First, any order of mine where my free s/h threshold is not met, the 12% + 30 cents is taken out of my available funds. However, on the orders where my free s/h threshold is met, neither the 30 cent transaction fee nor the 12% have been removed from my available funds, both costs/fees have been added directly to my monthly ebay account invoice. I prefer the fees to be added to my monthly invoice and to pay at the end of the month with my CC as I get a 2% kickback reward from the CC and I don't get that 2% back when ebay takes the 12% from my "available funds".

[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!

[thecatspajamas]

Originally Posted by savedfrommyspokes

I have now received multiple payments since I started Monday with MP. Here is what I have seen in regards to what is being taken out. First, any order of mine where my free s/h threshold is not met, the 12% + 30 cents is taken out of my available funds. However, on the orders where my free s/h threshold is met, neither the 30 cent transaction fee nor the 12% have been removed from my available funds, both costs/fees have been added directly to my monthly ebay account invoice. I prefer the fees to be added to my monthly invoice and to pay at the end of the month with my CC as I get a 2% kickback reward from the CC and I don't get that 2% back when ebay takes the 12% from my "available funds".

That is weird. The differing "fee extraction" timing, that is, not your preferences. I'm not looking forward to the learning curve in figuring out all the minute differences between eBay's "how we said it would work" and their "now that you're locked in, here's how it's really going down."

[Eddiez]

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