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.

[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.

[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]

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?

[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!

[scotgreb]

Scott,
I made the switch with both of my ebay accounts a while ago. No processing issues for me whatsoever. I created a separate bank account to receive the payments. I have not yet scrutized the cost difference(s) but suspect it's pretty much a wash for me. The only aspect I don't like is that your funds are kind of in limbo for a couple days while the transfer is being processed - making it somewhat more difficult to know your exact balance at any given time.
Scott

Sent from my SM-G960U using Tapatalk

[ibuysportsephemera]

I've been using it since July. I can't believe I am saying this but it actually has worked fine and I think I am saving a bit of money as well. I hope I haven't cursed myself.


Jeff

[savedfrommyspokes]

In regards to a cost difference between using paypal and ebay managed payments, in the first two full months I have been using EMP, my selling fee costs are down approximately 1% ($1 cheaper per $100 of income) as compared to when I used PP.

[ibuysportsephemera]

Originally Posted by savedfrommyspokes

In regards to a cost difference between using paypal and ebay managed payments, in the first two full months I have been using EMP, my selling fee costs are down approximately 1% ($1 cheaper per $100 of income) as compared to when I used PP.

I am finding a similar savings.


Jeff

[Exhibitman]

It's worked fine. Costs are about the same. The only adjustment has been to my accounting method, which has simplified.

[savedfrommyspokes]

Originally Posted by Exhibitman

The only adjustment has been to my accounting method, which has simplified.

Time has been my biggest savings due to the ease of compiling my monthly income spread sheet from the information ebay provides under their new "Performance" tab.

[Eric72]

It appears as though it's my turn. In my eBay messages folder, there was a notification regarding managed payments.

"All sellers receiving this email are required to update their account details by 12/31"

Their playground, their rules, I guess. Any advice/info before I proceed?

[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.

[thecatspajamas]

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]

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]

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 .

[KCRfan1]

After recently selling a card on ebay, I am still waiting for funds to be posted to Wells Fargo ( hate them ). Day 3 will be Wednesday.....

Anyways, Paypal always showed immediately and now I wait on a bank.

As the seller, do I send a sold card not having money in my bank account?

Or do I send the card and hope WF posts the money at some point?

Ebay shows they forwarded the funds to my bank.

Thoughts? Any similar experiences? Positive outcomes?

[thecomebacker]

I was the buyer in your case. The seller messaged me saying that he is new with this ebay payment management thing and told me he would send my card as soon as money shows up in his bank account. I was understanding and told him it was fine. Took like 5 days before money cleared, but he did ship right away after clearing. If you plan on not shipping until payment clears, at least message the buyer to let him know.

Originally Posted by KCRfan1

After recently selling a card on ebay, I am still waiting for funds to be posted to Wells Fargo ( hate them ). Day 3 will be Wednesday.....

Anyways, Paypal always showed immediately and now I wait on a bank.

As the seller, do I send a sold card not having money in my bank account?

Or do I send the card and hope WF posts the money at some point?

Ebay shows they forwarded the funds to my bank.

Thoughts? Any similar experiences? Positive outcomes?

[earlywynnfan]

That really stinks if you're trying to be an ebay Top Seller, since you have to ship within 24 hours of getting paid. Does "paid" mean hit the bank or when the seller hits the "pay" button??

I guess I'm lucky, the money hits my bank the next day. I've always ship when the item is listed as "paid."

[conor912]

Originally Posted by KCRfan1

As the seller, do I send a sold card not having money in my bank account?

Ebay wants you to, yes. Their whole thing is “the buyer paid, so we’re good for it - you’ll see your money in 4-5 days, but we expect you to ship now”. It’s absurd and was the final nail in the coffin for me. They have completely ruined the selling experience now from every angle.

[Snapolit1]

Originally Posted by conor912

Ebay wants you to, yes. Their whole thing is “the buyer paid, so we’re good for it - you’ll see your money in 4-5 days, but we expect you to ship now”. It’s absurd and was the final nail in the coffin for me. They have completely ruined the selling experience now from every angle.

You can choose to get paid every day of the week. Don't need to wait 4-5 days. Usually one day.

[Exhibitman]

I actually switched to 1x/week payouts. I time my auctions to close over the weekend (Fri-Sat-Sun), I ship on Mondays. Plus there are the odd BINs here and there. It became a PITA to have money sent every day because it left me without a means of paying the postage from the proceeds of a mid-week, Friday or Saturday sale and eBay kept hitting my CC for it.

[KCRfan1]

Thank you everyone! I appreciate the insight and candor.

[thecatspajamas]

Originally Posted by Snapolit1

You can choose to get paid every day of the week. Don't need to wait 4-5 days. Usually one day.

Just to be clear, the timeframes I listed above were for daily payouts. There is always a lag of at least 2 days between when a sale occurs and when eBay sends the payout to your bank account (longer if the 2nd day falls on a weekend), and in my case, the funds show in my bank account the following day after eBay sends them. While I do get payouts sent to me every business day, they are not for the preceding day's sales. They are consistent enough that I am comfortable going ahead and sending items out once eBay indicates they have received payment, though that does technically mean that I am floating the shipping cost and sending merch for which the funds have not yet cleared in my account. Your comfort level with that may vary, but you would need to adjust your "handling time" accordingly, as eBay starts the clock from the time they receive payment, not from when they funds have cleared your bank account.

I don't use eBay to print shipping labels, but if you do, the weekly payout may make more sense for the reason Adam mentioned. While I have had eBay hold funds in some occasions due to buyer disputes or postal delays, I have not yet had a shortfall such that they went into my bank account to pull funds to cover those. I can see how that would be problematic if it were happening on a regular basis to cover shipping costs. Personally, I have found eBay's tendency to erase records of darn near everything after 90 days troublesome enough that I use stamps.com for printing shipping labels in order to have those shipping records available and searchable for a longer timeframe, but your needs may vary.

[ibuysportsephemera]

I've been using managed payments for awhile and it has been fine. I use the sales proceeds for shipping costs so I am set up for weekly payments. It has been fine so far.


Jeff

[D. Bergin]

Originally Posted by thecatspajamas

I don't use eBay to print shipping labels, but if you do, the weekly payout may make more sense for the reason Adam mentioned. While I have had eBay hold funds in some occasions due to buyer disputes or postal delays, I have not yet had a shortfall such that they went into my bank account to pull funds to cover those. I can see how that would be problematic if it were happening on a regular basis to cover shipping costs. Personally, I have found eBay's tendency to erase records of darn near everything after 90 days troublesome enough that I use stamps.com for printing shipping labels in order to have those shipping records available and searchable for a longer timeframe, but your needs may vary.

Wish I could still use Stamps.com to print my Ebay shipping labels, because it saves time printing multiple labels, but it absolutely refuses to import my Ebay orders, no matter how many times I delete and reinstall my Ebay info to their program..........and manually putting that info in, completely defeats the purpose of the tool.

As is, I'm also reliant on payouts being due to my account to pay my shipping costs, but I generally ship quick enough that it isn't an issue. Also still have my Paypal account as a backup, in case that is an issue.

[thecatspajamas]

Originally Posted by KCRfan1

After recently selling a card on ebay, I am still waiting for funds to be posted to Wells Fargo ( hate them ). Day 3 will be Wednesday.....

Anyways, Paypal always showed immediately and now I wait on a bank.

As the seller, do I send a sold card not having money in my bank account?

Or do I send the card and hope WF posts the money at some point?

Ebay shows they forwarded the funds to my bank.

Thoughts? Any similar experiences? Positive outcomes?

Sounds like standard procedure for Managed Payments. I've been in it for several months, and once eBay showed that they had sent the payout to my bank, never had any instances of it not showing up in my bank account or show up as a different amount than the reported payout.

Funds from any given sale of an item are in my bank account in 3-5 days from the date the buyer pays. Because eBay does not send payouts on the weekend, it works out as follows:

Item Sold / Funds in Bank
Monday / following Thursday
Tuesday / following Friday
Wednesday / following Monday
Thursday / following Tuesday
Friday / following Wednesday
Saturday / following Wednesday
Sunday / following Wednesday

[forceplay sport]

Just curious if anyone has sold on sportlots ??