Managed Payments: Results May Vary

[momcqueen]

So..... are all sellers now operating under Managed Payments in ebay.ca? My account was activated a few weeks ago and the results have been underwhelming to frame it politely.

I'm waiting a minimum of two days to a maximum of a full seven days for payments to be deposited in my chequing account and there seems to be no rhyme nor reason to it. Under the old system, with payments submit to me through PayPal, those funds would be deposited to my account within hours in most cases. If I withdrew a PayPal balance before noon CST on a weekday, it would be sitting in my bank account by suppertime that same day. 

This Managed Payment system through ebay does not thus far compare favourably. Whose fault is that? Adyen? If it's the payment processor to blame then why did the company pick such a lame duck with which to do business? 

I have another website where I accept payments through a different payment processor (neither PayPal nor Adyen) and I see that money in my account the next day often by midday.

Managed Payments seems to, quite frankly, stink compared to the way it used to be.

I expected better than this. It's discouraging to me a seller that my buyers can have their items in hand long before ebay sees fit to deliver the money to me paid to have it. 

What kind of turnaround times are others seeing?

[ypdc_dennis]

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@stylemich31 wrote:
I'd like to opt out Managed payments also. I set up payout {sellers fees) etc., to come out of my Paypal account, but am getting bi weekly notifications that they will be dipping into my bank account because funds aren't available. "Take out of Paypal" ...

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Do a  manual payment of your fees if automatic is not working properly.

[reallynicestamps]

@ypdc_dennis 

 I think the problem is that we are not allowed to accumulate a balance in MP to use for buying.

Including buying postage, which was one of the useful points about PP. We could buy PP labels from Held funds,which to me was a reasonable confirmation that my customer's payment had cleared the banking system.

Full disclosure: I am not yet using MP.

[pjcdn2005]

I'm not in MP either but this is how I understand it...

FVF will be taken from your pending balance or from your bank account if there is not pending balance. Afaik, you cannot 'arrange' to have that taken from PP.  They do send you an invoice for store fees and listing fees and ?? 

[ricarmic]

When the MP day comes for me, I'm planning to only have the $ sent to the bank account "infrequently" so that normally there's a running MP balance and it is coming from the MP pool. What "infrequently" will be is maybe every 2 weeks, I'll have to spend some time contemplating what it should be and what is possible when the day comes.

(I've always "since the beginning" maintained enough in my PAYPAL account to at least cover the largest thing I've sold if it is returned and a bit, plus a months store fees. In the last 20 years, PAYPAL (or its predecessors) has never pulled anything from my bank account. It doesn't look like I'll be able to do that with MP, at least some times it will be pulling from the bank account, but there'll be enough in there to cover it anyway).

[pjcdn2005]

I'm not positive, but I think the choices are of having it sent daily (which apparently isn't really daily) or weekly.  I haven't heard of a biweekly option but it might be possible.  

[ricarmic]

I was wondering about that. Hopefully by the time I get "the nod", they'll have the ability to put into two bank accounts, one $C and one $US. If they do, I wonder if they'll pull the fees from the same currency as the transaction?

I'm already giving myself a headache, something to worry about another day!

[recped]

FVF are deducted immediately from the payment, the amount remaining is credited to your payout holding account.

Monthly Invoices are still issued for listing fees, Store Fees etc. and provide a summary of fees paid, GST/HST paid etc.

From the Payout account you can fund refunds and can (or will?) pay for shipping labels.

It takes  anywhere from a few hours to maybe 24 hours for a sale to move from "processing" to "processed" at which point it is waiting for your next scheduled payout.

Payout choices currently are Monday to Friday or once weekly on Tuesday. I doubt there is any consideration for on demand withdrawals anytime soon.

I'm on weekly, very smooth, sales up to early afternoon on Monday are included, notice of transfer Tuesday morning, in my bank later on Tuesday.

[femmefan1946]

@recped

My question then is about those monthly fees.

I would have Store subscription and Promoted Listing fees only, but what happens if the monthly invoice arrives on Wednesday after MP has moved all my money out on Tuesday?

What happens if June was a heavy month with PL but July has no sales at all? Then when my subcription and PL fees come due there is no money in my MP?

With PP I can leave enough in my account to cover the upcoming fees.

And of course, I can't use my eBay earnings to pay for my eBay purchases, which strikes me as a weird oversight.

I suppose those sellers who claim to be big eBay buyers too are outliers and just as Watchers only watch, Sellers mostly sell,  and neither actually buys.

[ricarmic]

I guess the concept is now that your bank account is what once was your paypal account, except now our "accumulation" goes into the bank account and fees etc are more often going to be paid out of the bank account as would purchases.

I preferred it when I had PAYPAL separate, but I'll adapt my "style" to the MP version when the time comes....

[recped]

@femmefan1946 

You pay your monthly invoice the same way as always, you need to pick an auto-pay method and you can choose from PayPal, Bank Account, Credit or Debit Card.

The schedule for payment does not change, if your billing date is the end of the month about two weeks later eBay takes their payment just as they have for the past 25 years.

Personally I have mine set for Credit Card, I get points and an extra 6 weeks to pay since eBay dings my credit card just a couple of days into my next cc billing period (eBay dings my cc for December on January 15 - 17, I have to pay that cc bill by about February 5th). Currently my main selling id is billed on the 15th so for that account I only get an extra 3 weeks to pay.

That said, I don't have a Store, my account balance is 11 cents and eBay doesn't take money if it's less than a Dollar so I have no idea when I will actually ever have to pay a monthly bill.

Not sure if people are aware but under MP your TRS discount applies to both the Item and the Shipping (significant for me) instead of just on the Item as is given to non-MP sellers.

[mrdee4097]

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@muscoviteman wrote:

I only purchase here but my neighbor sells items found a yard sales and thrift stores.

She also purchases here and usually I pick up her mail both at the group box and post office. I noticed she has purchased much less lately.

I asked why and she told me that she had previously listed on both .ca and .com and had paypal money in both currencies. With with Canadian dollars only she stopped purchasing US dollar items because of the currency exchange cost. Then something else happened. She said the money once in her bank account seemed much more real so she stopped spending it on things here that she really did not need.

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This is exactly what I've been doing now. I sell on .com and in USD (since 95% of my buyers are in the US), and I used to buy a lot of US and other ebay (China, electronics) items with those USD funds, but since all the payments I get in MP are automatically converted into CAD and sent to my bank account by eBay (with NO option to hold USD or switch back to Paypal), I've been looking at those same items and thinking how much CAD I'd have to convert and use, instead of looking at the USD I'd already have on hand in my Paypal account. There's no advantage to buying anything on the US site anymore for me, now that I'm getting fleeced by eBay BOTH WAYS by the currency conversion, and the Canadian site alone doesn't have as much selection.

It's also nice to look at the balance going up in my bank account, and thinking "I don't really want to spend that", versus holding it in Paypal before where I was less discretionary since it was always in USD and sitting in an account separate from my bank.

Your loss, eBay. You'd figure that, being the US's largest trading partner and a larger overall market, eBay would have SOME way for Canadian sellers to hold funds in USD, but nope. If eBay wants to shaft me both ways on the currency conversion now, I simply won't buy as many items listed in USD anymore.

[marnotom!]

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@mrdee4097 wrote:

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Your loss, eBay. You'd figure that, being the US's largest trading partner and a larger overall market, eBay would have SOME way for Canadian sellers to hold funds in USD, but nope. If eBay wants to shaft me both ways on the currency conversion now, I simply won't buy as many items listed in USD anymore.

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When PayPal was first unleashed, it was nothing like the PayPal we know today in terms of supported currencies and countries.  It was only available to Americans.  Over time, it evolved to become the PayPal we know today.  It needed time and cash to get where it is today.  It wouldn't have been able to emerge fully-formed, particularly without a sense of what its potential user base wanted or needed.

I suspect that as Adyen is based in an EU country, having dual-currency, account-on-foreign-soil support for Canada wasn't even on its radar, particularly as eBay Canada axed US dollar listings some time ago.

While PayPal has been around for what seems like forever, online payment processing is still a pretty recent development in a field where change usually happens very slowly.  The first credit cards were issued about 65 years ago, after all, not all that long ago in the grand scheme of things as modern banking is considered to have had its birth in the 17th century.

[nss_media]

Listing on eBay.com is the way to go for sure. .ca is not good for exposure to the US market which is vastly huge compared to that of Canada. I start MP next week, and have set up a USD account at a Canadian banking institution. I confirmed payments will be deposited in USD without any currency conversion being done. I have to pay a small monthly fee for the bank account, but at least it will remain in USD. I asked eBay if managed payments could be used to fund shipping labels but they said they are not a bank so they can't. Managing payments seems like they are acting as a bank though, so that seems like a bit of a contradiction in terms.

[widgetc]

"I can't use my eBay earnings to pay for my eBay purchases, which strikes me as a weird oversight."

That was a major error. My neighbour sells here and used to spend it all here too...now that it goes to her bank she regards it as "real" money and spends 10% of what she once did here.

[pjcdn2005]

@nss_media 

I'm not in MP yet so can't confirm if this is actually happening but I've been told but Canadians are supposed to be able to pay for their ebay CP labels with their pending funds.  I know that they are able to do that in the US with ebay USPS labels.  However,  since you will be receiving your payments in $US I wonder if they will convert your money to $C for any CP label that you buy.

Perhaps someone who is currently in MP can confirm if they have currently have the option of paying for their CP ebay labels with pending funds?

[patphotog]

Victoria Day surprise from manage payment...here it is...

"Please note that 24th May is a bank holiday in Canada. Orders paid by buyers on 21 May, 22 May or 23 May will be part of your weekly payout on 1st June. "  you gotta love it....

[lucitabby]

I am in MP and pay for my shipping labels from my pending funds.

[tryubik-useonlyasdirected]

I am not on MP yet but have recieved notice to switch or quit.  With postage is it now mandatory that labels are purchased through eBay or does MP still offer the option to purchase postage at the CPC using our own business accounts?

[lotzofuniquegoodies]

@tryubik-useonlyasdirected 

Not mandatory but it is the default. You can switch to Shippo from the application or do direct sign in with PayPal or CP. Managed Labels funds come from your pending transactions. Shippo from PayPal balance or whatever you have set up. CP would be CC.

-Lotz

Please note: This discussion is a bit zombie by now so much of the original info may have changed.

[tryubik-useonlyasdirected]

Thanks lotz. This does not look promising. 😬