New to MP, I need help signing up.

[triber]

I just got my notice to change to MP by June 15th. There is no point in dragging my feet and waiting, I decided I just need to bite the bullet and sign up.

My problem is that I am nearly 79 years old and I have some memory problems. I am fine doing eBay now, but change is hard for me.

When MP started I was reading the posts in this forum, but after a while it was problem after problem listed. I gave up reading it all, just too much to remember.

What I need is a concise, simple article to follow. I have a bank account in CA $. I sell on .com with US dollars only.

Here are some of my questions:

• Does eBay exchange the rate to Ca$ before they put it in my bank?
• I have seen several messages about when to get the money forwarded to the bank, is there a best time, and if the money is not going to be deposited for several days, is it still alright to ship? Until now, we don’t ship until we see the money in Paypal. Why is in not deposited immediatly?
• How are my eBay account fees paid? I have always paid in US but if no money is coming in, do I change it to CA$ and they will take it directly out of my bank?
• I want to keep US dollars in Paypal, we like to use that to purchase grocery products etc. online, but with none coming in, that doesn’t seem as if it will work.
• For all of you who have signed up for MP, what shipping labels do you use? I find that Paypal gives a good deduction when doing tracking labels. It’s also so straightforward.

I hope some of the helpful people on this forum will be kind enough to help, I have been so thankful for the help that I have received in the past.

[msmaggie060 · Accepted solution]

Hi triber, I signed up at end of April, no problems so far.

• Does eBay exchange the rate to Ca$ before they put it in my bank? Yes, they change to Cd$ before sending it to my bank.
•  
• I have seen several messages about when to get the money forwarded to the bank, is there a best time, and if the money is not going to be deposited for several days, is it still alright to ship? Until now, we don’t ship until we see the money in Paypal. Why is in not deposited immediately?  I have mine set up to weekly, I think that is easier to keep track of. It’s okay to ship right away and I think it depends on your bank as my funds show up the same day or next morning after eBay says payments are being made.
•  
• How are my eBay account fees paid? I have always paid in US but if no money is coming in, do I change it to CA$ and they will take it directly out of my bank? Your eBay fees are withdrawn from your pending funds prior to sending your money to your bank account. My store fees are withdrawn from my PayPal account where I still have some money but I believe you can change where the store fees are taken from.
•  
• I want to keep US dollars in Paypal, we like to use that to purchase grocery products etc. online, but with none coming in, that doesn’t seem as if it will work.  In that case, you will have to transfer $$ back into your PayPal account.
•  
• For all of you who have signed up for MP, what shipping labels do you use? I find that Paypal gives a good deduction when doing tracking labels. It’s also so straightforward.  I use Shippo but you can still use PayPal labels from what I have read. You would have to set up a funding source to pay for them if you have no money in your PayPal  account though.

Sorry about all the extra “dots”, I using my iPad and don’t know how to get rid of them!

[triber]

msmaggie  Thank you SO much, that is such a help. I appreciate you taking the time to answer my questions.

[richardcm]

Some extra details to add to the above.

Weekly payments are on Tuesdays and arrive in my bank account the next day. An advantage to weekly payments is that the funds are held for a week and eBay will take from these funds if needed so it minimizes bank activity. From what I understand from what I read, the new eBay shipping labels will use held funds. I use discount postage stamps so I have not used any shipping program yet.

My funds are held 30 days because I am a new seller started in January 2021 on two new eBay IDs. Not this buyer ID I am posting with. I think this happens to other sellers too even with established accounts. 

EBay will tell you to ship once the item is paid by the buyer usuall within a few minutes of the sale. Your MP has the money and tells you to ship so you go ahead and ship. The money will eventually be transferred to your bank account in the weekly payout. 

si far no issues with MP other than building up experience using it. I am 66 and dislike change but after years on eBay with so many changes all the time you have to adapt.