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

[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

[savedfrommyspokes]

Originally Posted by thecatspajamas

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."

My assumption is that for what ever reason, because the entire sale has a promotion (free s/h with "x" # of items purchased) that I set up through ebay, the selling fees are billed to my account rather than removed from my available funds.

This scenario has continued to occur with today's orders with promotions..... and again, this scenario is preferred

[sb1]

Has anyone else beside Bobby, not made the switch and had ebay reinstate your account. My time for new listings ran out today and not sure I will make the switch to managed payments.

[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.

[bnorth]

Is ebay managed payments something everyone has to do? I sell on ebay and they have not made me do it. I only use up the free listings the give me, so not a big seller.

The only change I have notice recently is for the last 2 or 3 months they now give me 200 free listings a month.

[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 .

[thecatspajamas]

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]

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]

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

[D. Bergin]

Originally Posted by 4scuda

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

They are essentially your merchant account provider now. They will need to provide payout info to the government, issue 1099 forms, etc....

Pretty standard procedure.

I do understand having one more place in which your info becomes vulnerable, though.

[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.

[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

[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.

[clydepepper]

Thank God for BST - I have quit selling on ebay because of the 'managed payments' system.

Correct me if I'm wrong, but I understood that I'd have to work with one of their banks...have an account at one of their banks?

.

[Mark17]

Originally Posted by clydepepper

Thank God for BST - I have quit selling on ebay because of the 'managed payments' system.

Correct me if I'm wrong, but I understood that I'd have to work with one of their banks...have an account at one of their banks?

.

No, you give them your bank routing info, same as you do with PayPal. So I set up a new account at my bank for that purpose, and I keep a small amount in it. The proceeds take a few days to be deposited into my account but otherwise it works fine.

[mainemule]

Originally Posted by 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.

One of the reasons your % of fees changes is the amount of sales tax being added to the payment based on the buyer's home state sales tax rate. You are paying EBAY fees on the sales tax that the buyer is paying, which EBAY is collecting and remitting to the state for you. I think I have said this correctly.

[Mike D.]

I waited to the last minute to sign up, finally did on the 25th. I'm not sure how the fees compare yet....but I do know that it taking DAYS to get paid is a pain. I really miss the instant payout of Paypal.

[ctownboy]

The problem I am having with the new managed payments is that eBay is NOT refunding me when I refund a buyer.

When I was being paid with PayPal, if I overcharged a buyer for postage, I could refund the overage and PayPal would refund me their fees (and it would show on that transaction) how much they refunded. Now with eBay, if I overcharge for postage, eBay is taking the money from my current money they have on hold or are taking the money out of my bank account and they are NOT refunding any of the fees I have previously been charged for that transaction.

Maybe that will be compiled at the end of each month and I will be refunded then or maybe I will have to call eBay and have to show them the three (so far) transactions that this has occurred on and see what they say and do.

David

[thecatspajamas]

Originally Posted by ctownboy

The problem I am having with the new managed payments is that eBay is NOT refunding me when I refund a buyer.

When I was being paid with PayPal, if I overcharged a buyer for postage, I could refund the overage and PayPal would refund me their fees (and it would show on that transaction) how much they refunded. Now with eBay, if I overcharge for postage, eBay is taking the money from my current money they have on hold or are taking the money out of my bank account and they are NOT refunding any of the fees I have previously been charged for that transaction.

Maybe that will be compiled at the end of each month and I will be refunded then or maybe I will have to call eBay and have to show them the three (so far) transactions that this has occurred on and see what they say and do.

David

If you go back and look at your Paypal transactions for those refunds, you will find that Paypal has not refunded the fees on those in well over a year. They'll refund whatever portion you like to the buyer, but they keep the fees for the original payment regardless. If you refund the buyer in full, you will go into the red on the Paypal fees.

Similarly with eBay, they do not refund Final Value Fees on partial refunds, regardless of whether you are in Managed Payments or not. Even prior to Managed Payments, the only way they would refund the FVF's is if the transation was cancelled or refunded in its entirety. There may be some way you can call and talk a representative into refunding the fees on a partial refund, but it does not happen automatically.

As far as I can tell with Managed Payments, because they no longer parse out payment processing fees vs Final Value Fees, if you refund a buyer in full, you get those fees back in full so that everyone is back to zero. On partial refunds though, eBay does not state anywhere that I have seen that they will ever refund those fees, and are generally silent on the matter as far as I can tell.

[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.

[samosa4u]

I want to remind everyone that, in addition to the BST forum here, there are also lots of card groups on Facebook. You can get paid in cash or Paypal direct.

[Exhibitman]

Originally Posted by mainemule

One of the reasons your % of fees changes is the amount of sales tax being added to the payment based on the buyer's home state sales tax rate. You are paying EBAY fees on the sales tax that the buyer is paying, which EBAY is collecting and remitting to the state for you. I think I have said this correctly.

Which actually isn't a bad deal, since you might otherwise have to file and remit sales tax in up to 50 jurisdictions. Having them manage the sales tax for me takes huge headache out of my sales tax returns.

[thecatspajamas]

Originally Posted by Exhibitman

Which actually isn't a bad deal, since you might otherwise have to file and remit sales tax in up to 50 jurisdictions. Having them manage the sales tax for me takes huge headache out of my sales tax returns.

Ebay now collects and remits VAT (Value Added Tax) on sellers' behalf as well when shipping to the UK, regardless of the item's value or point of origin, only it doesn't appear on the seller's invoice like sales tax does. You have to look for it in the downloaded sales reports. Whooee, and I thought Tennessee sales tax was high!

Anyone had to deal with VAT for non-eBay shipments to the UK yet? Not sure it would be worth it for me to register for a VAT number and file quarterly reports (whether I actually have UK sales that quarter or not), so as Adam said for sales tax, I'm happy to let Ebay handle that.

[thecatspajamas]

Originally Posted by thecatspajamas

If you go back and look at your Paypal transactions for those refunds, you will find that Paypal has not refunded the fees on those in well over a year. They'll refund whatever portion you like to the buyer, but they keep the fees for the original payment regardless. If you refund the buyer in full, you will go into the red on the Paypal fees.

Similarly with eBay, they do not refund Final Value Fees on partial refunds, regardless of whether you are in Managed Payments or not. Even prior to Managed Payments, the only way they would refund the FVF's is if the transation was cancelled or refunded in its entirety. There may be some way you can call and talk a representative into refunding the fees on a partial refund, but it does not happen automatically.

As far as I can tell with Managed Payments, because they no longer parse out payment processing fees vs Final Value Fees, if you refund a buyer in full, you get those fees back in full so that everyone is back to zero. On partial refunds though, eBay does not state anywhere that I have seen that they will ever refund those fees, and are generally silent on the matter as far as I can tell.

As a bit of a correction / update to what I posted above, I found recently that when sending a refund where multiple items are involved, you are given the option to enter an "order level refund" or a refund of individual items. Each item price in the order is shown with a proportional amount of the shipping included, without a separate line for shipping. The natural inclination if sending a partial refund for shipping is to just enter the refund amount as an "order level refund." As I said previously, this will never result in you getting the FVFs associated with that refund back. However, if you subtract a refund from the individual items above, and it zeroes out any of those items, eBay apparently views that as that item being fully-refunded, and does refund the FVFs associated with that item to the seller.

I had an instance recently where I had a certain amount to refund that a buyer had overpaid, but when I started looking at the fees that would or would not be refunded, it was of greater benefit to me to send a larger refund to the buyer in order to zero out an item, because the fees associated with that item were larger than the incremental increase in refund that I was sending. Silly games to have to play, but every little bit helps.

When sending a refund, the refund amount you send is subtracted from your next pending payout (or withdrawn from your bank account if the next pending payout is insufficient to cover the refund). Any FVF's refunded to the seller appear as credits on their next monthly invoice.

With eBay's recent announcement that for recent inductees into Managed Payments that ALL fees would come out of pending payouts, this may change. For the moment at least, for those who were in Managed Payments prior to October 2020, the monthly invoices for Store Subscription fees continues.

https://www.ebay.com/help/selling/fe...redits?id=4128

[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.

[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 ??

[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.