July 8 2020 Weekly Session - Managed Payments

[tyler@ebay]

Hi everyone - 

The chat this week is targeted specifically at managed payments and is open for your questions. It will remain open until tomorrow afternoon, at which point it will be closed for our expert to review.

Please leave your payments related questions below and a payments expert will work on getting you answers* starting tomorrow through the rest of the week. 

Thanks, 

Tyler

*Disclaimer here that there may be some questions that they aren't able to address, so not all questions may get an answer. 

[musicyouneed]

My other question is, I don't ship until I get paid.  How is that going to work, are my shipments going to be delayed because of it. Should I add on a few more days to my handling?

[retroman_studios]

I have not as of yet received an invitation for MP, so am I assume that I'm not part of the initial rollout? My last year I sold heavily to US, so perhaps that is why.

What is the estimate for the next round of invites so I can schedule and prepare in case I need to switch?

Also, how does the change to MP affect eBay Bucks? Currently the eBay Bucks is paid out using a PayPal voucher. Once MP kicks into gear, the requirements to place an order with a seller that accepts PayPal might (or not?) be complicated.

[cumos55]

With Managed payments it is recommended that a seller have a bank account that was set up to accept Managed Payments payout and only payouts...

Accepting payouts on a weekly basis.... and ...this bank account is a way to keep a record of money received after FVF have been paid....

[mandicrafts]

Hi Tyler
Those Canadians who ship using Shippo, linked through eBay Canada, want to know how they will pay Shippo when on MP. Currently it is paid out via paypal.

Thanks

[mandicrafts]

Some USA eBay sellers are receiving incentive $$ credits to register for MP.
Will there be any incentives offered to Canadian eBay sellers?

[mandicrafts]

How will it work when on MP for the quarterly coupons for eBay branded supplies?

[mandicrafts]

During COVID it may be difficult to physically go in to a bank to set up a new bank account. Especially if it needs to be a USD one or a USD one on US Soil, that requires showing your passport. Many on-line-only banks do not offer USD accts or a second chequing account.

[ayatcg]

So what happen to those who have an invite. But sell on both .com and .CA do I just ignore the invite or so I have to accept and enroll into it.

[mandicrafts]

Once a seller is enrolled live into MP, does the seller have to do any manual editing to their listings? Payment method? Payment Policies? Or will this be done by eBay automatically?

[cumos55]

Much  of the discussion is about the requirement of a US dollar account. Many Canadian sellers sell on eBay.com in US dollars (not me).

If there is no US dollar account... a buyer pays  and this US dollar amount is converted to Canadian dollars (The first cost of currency conversion) and MP delivers the money  to a Canadian dollar account..

Then what happens if a partial or complete refund of a US dollar payment  has to be made...  convert Canadian dollars to US dollars.... a second currency conversion fee.

For sellers that sell in US dollars on eBay.com ....... A US dollar account is a necessity

[lotzofuniquegoodies]

Hello Tyler,

In the past when a refund was processed for International buyer it was processed based on the Exchange rate at the time of the original transaction. How will it work now when you process a refund from your bank account and/or will the line item in your bank account show the exchange rate when it posts?(Or just the amount in Canadian Funds?)

-Lotz

[lotzofuniquegoodies]

@pl-randoms 

Will eBay be making offers to sellers who purchased items to sell on eBay that were acceptable when they listed but are no longer acceptable in Managed Payments. (There are other categories that will apply to some besides coins & bullion). For me it is slightly shy of 1500.00. For others it may be substantially more. Those items were purchased by sellers in good faith for resale.

This question is partially tongue in cheek and also a very serious concern, but needs to be addressed.

-Lotz

[2dogsdigs]

My main question is how fast payment will be able to come directly to us as the seller. Currently with PayPal we have money deposited to us within minutes from which we are able to buy/pay for our shipping through eBay or any other shipper. How long will it take for eBay to process those funds so that we have access to them and if there is a delay why is any delay happening versus how PayPal currently handles it?

[pjcdn2005]

There are quite a few questions about handling currency in MP so this may have been answered already by the time you get to this question but just in case it isn't...

 You've been asked earlier about whether we would be able to deposit sales in US$ into a US based bank account but this question is a bit different.  I'm curious if we will be able to have our US$ sales deposited into Canadian bank account into our US dollar bank account?   Paypal currently does not allow that but that might be an alternative for some of us who sell on .com.

[pjcdn2005]

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@mandicrafts wrote:
Nope, current search on paypal Canada shows 2.5%. I don't know where you are getting the 3% from?

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I'm getting the information from the 2nd paragraph in the following info...

https://www.paypal.com/ca/for-you/fees

For any of the following transactions that involve a currency conversion, the currency conversion fee is a minimum of 3.5% for Canadian or U.S. dollars, or a minimum of 4.0% for all other currencies, or such other amounts as may be disclosed to you during the transaction*:

• Paying for goods or services in a currency other than the currency the goods or services are listed in.
• Sending money to a friend or family member such that they receive a different currency from the currency you pay in.
• Sending money using PayPal’s Payouts or MassPay products such that your recipients receive a different currency from the currency you pay in.

For all other transactions involving a currency conversion, the currency conversion fee is a minimum of 3.0%, or such other amounts as may be disclosed to you during the transaction*.

*Residents of Quebec will be charged the minimum applicable rate set out above.

[pjcdn2005]

When I first started selling, all of my listings were in .com so I switched over to being billed by ebay  in $US. I list on both sites now but have never gotten around to switching my billing currency.  Right now if I sell something on .ca the fvf will be converted to $US since it will be paid in that currency. If I sell something on .com, the fvf obviously stays in $US.  What will happen once I am in MP? Will I automatically be billed in Canadian dollars or will there still be conversions involved?.  Because my current billing is in $US will they convert my fvf on .ca to $US before they deposit the remainder into my Canadian bank account? or?

[tyler@ebay]

Thanks for your questions and comments on managed payments! The chat is closed from further replies to allow time for our expert to review.

You will be tagged to the thread when you receive a reply. Thanks for your patience while we work through these! 

[simeovivia0]

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@msmaggie060 wrote:

I actually haven’t been requested to join yet, probably because I sell mainly to the US, but have been reading the boards and have 2 questions:

1.  My bank accounts have my middle initial on them and my eBay account does not. I read that they must match. Do I have to change one and if so can I just add my initial to my eBay account?

2.  I understand that I will need to show a bank document. I have no cheques on this bank account as I don’t need them. What other document can I submit?

Thanks.

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Hi @msmaggie060 - 

Thanks for wanting to make sure you’re ready when you’re notified to register, I’m sure that will make things very smooth for you. With regards to your questions:

1. A middle initial shouldn’t be much of a sticking point as long as your first and last name match from eBay to your bank account. 
2. You can also upload a bank statement or screenshot of our online account. Please make sure that the bank statement is less than three months old and if it’s a screenshot, that your name, bank numbers, and bank name/logo are clearly visible. You’re more than welcome to black out transactions or amounts for privacy.

[simeovivia0]

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@mandicrafts wrote:

Hi Tyler

Erroneous information is being given on the .com community board by an eBay person specifically about Managed Payments and the ability and qualifications of a Canadian selling on .com.
Here is the link.https://community.ebay.com/t5/Payments/ebay-Managed-Payment-for-Canadian-selling-in-US-site/m-p/3103...
Many Canadians may be panicking right now after reading that information, including those on my facebook Canadian board.
Mandy

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Hi @mandicrafts - in looking at the thread you linked (it's fairly long) the quote that I think could cause concern is, "In order to sell on eBay.com, a seller would have to have a US Government issued identifier such as a Social Security Number or Tax Identification Number (TIN). If a seller only has CA issued identifiers, they would have to sell on eBay.ca"

You only need US credentials if you plan to register on the .com site. For Canadian registered sellers, you won’t need US credentials to actively sell on eBay.com. We may ask you for a bit more information, ex: photo of driver’s license and number, but that’s it.

[simeovivia0]

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@mandicrafts wrote:

Hi Tyler

1) Please explain why there must be an International Fee for transactions on Managed Payments if it is an integral seamless program for all eBay sellers and buyers? Etsy has Ayden and doesn't charge such a fee for sales outside of the seller's country of registration. If your item is listed in CAD and you get CAD $ why would there be any sort of transaction fee for a buyer that happens to be in another country? If your item is listed in USD and you get USD$, same question. Yes it is marginally lower than paypal current transaction fees, but why will there such a fee to be charged by eBay? Shouldn't the HIGHER FVF's that ebay will charge on ALL transactions, cover any extra costs?
From the Managed Payments Fee Help Page for Store Owners for Canada: "If your registered address is in Canada, we charge an international fee of 0.4% to the US and 1% to all other countries if either the buyer's registered address or the delivery address for the item is located outside of Canada. This fee is automatically deducted and is calculated based on the total amount of the sale."
2) For those Canadian sellers who sell in USD but do not have any issue with eBay converting to CAD for deposit to the sellers' Cdn bank, why is the exchange fee set at 3%? Paypal's fee is 2.5%. VISA credit cards are 2.5%. The fee of 3% seems exorbitant in comparison.

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Hi @mandicrafts - 

1)These fees reflect increased costs associated with international transactions, similar to the way PayPal increases their transaction fee when your buyer’s PayPal account is registered outside the US.

2)The transaction exchange rate is adjusted regularly and includes a currency conversion charge applied on a base exchange rate. The base exchange rate is based on rates within the wholesale currency markets on the conversion day or the prior business day; or, if required by law or regulation, set at the relevant government reference rate(s).