No more paypall

[terence427427]

Hi All, just been asked by ebay for my personal bank account as they don't want to use paypall account anymore. So, just asking is that the case? no more paypall? that all worked fine for me. ls there an option for staying that way, with payments going to my paypall account, or is this a mandatory change? l'm not thrilled at the idea of ebay having access to by personal bank account and taking funds from my bank account is just a non-starter (never allowed that in 50 years of banking, except mortgage of course).

[eburtonlab]

eBay will no longer be using PayPal to pay sellers, so if you want to sell you must provide a chequing account to receive payment.

If you do not want to use your current chequing account for eBay, you should be able to open a new chequing account online relatively easily; just make sure your full name and street address match the info in your eBay account exactly.

https://pages.ebay.ca/seller-centre/fees-payments/managed-payments-on-ebay.html

[raanana]

How have new account with unlimited transaction would cost another 17$ . What kind of withdraws ebay can take it from account ? I have not find any information and as for now have credit card on file.By reading about new payment program I have more questions than answers,so far do not see anything good for me as a seller (.
PayPal was promt and usefull,looks like ebay just invented how to screw sellers again and make more profit.

[femmefan1946]

EBay was forced to sell off Paypal some five years ago. As their contract with the new independent PP came to an end, eBay decided to go back to an in-house payment processor, like they had with Billpoint at the turn of the millennium and which was replaced by Paypal as an in-house processor.

They are moving to Managed Payments, which is already used by many online selling venues, like etsy.

Have you received a Message about signing up? If not, don't worry. Eventually you will be asked (well, told, really) but until then Paypal will be fine.

• With Managed Payments, you will still be able to accept PP as well as credit cards, just as you do now. You will also be able to accept GooglePay and ApplePay.
• You won't be able to put your payments into PP. You will need a Canadian chequing bank account, but as others have said, it can be independent of all your other accounts.
• US dollar payments will be deposited as loonies. There will be currency exchange.
• Your payments will be deposited daily or weekly (your choice) but you cannot run a balance.

I'm holding out, so I don't know how eBay handles Store subscription fees or Promoted Listing fees. Someone who is in the program (@cumo_55  ?) could tell you.

You won't be able to shop on eBay using your MP balance. This is the stupidest part of the program, in my opinion.

There does not appear to be any great difference in fees. Still 30c plus a percentage. The currency exchange fee goes to your bank, not eBay.

There are several threads about Managed Payments. Search the Seller Board and most of your questions will be answered.

I don't think you will be any happier, but at least you will know what is making you unhappy.

[cumos55]

Managed Payments  takes the total of item price and shipping and subtracts the Final Value Fee..

The remaining amount gets transferred to your bank account... the Payout account at a bank... on a daily or weekly basis......  A weekly basis makes it 4 payouts each month

My Payouts occur on a weekly basis, every Tuesday.  The payout leaves eBay early on Tuesday and is in my Payout account that same  Tuesday evening....  Every bank appears to be different  with the number of days that are required for  the handling of the Payout.  My Bank is the Bank of Montreal.....

eBay can only access this payout account and ONLY this account.  The Payout account should be kept separate from all other money handling on your bank accounts....  except for transferring the money from the Payout account to your money handling account

Go to you bank's website and determine which account would be the cheapest to have....There are usually some accounts without any charges....  That was my choice for the Payout bank account.

I have a store  and with Managed Payents a credit card was used to pay the cost of the store on the monthly invoice.

Paypal is no longer a part of the selling process on eBay......  Buyers can use paypal to buy something on eBay.

Use money in your money handling account to pay for postage....  or use your credit card to pay for postage.

Managed Payments works well for me.....

[doc-holmes · Accepted solution]

I opened an online chequing account with one of those $0 fee banks. You know, the orange one. I only use it for managed payments. That way they don't have access to my main account with another bank. If I need to move the money to my main account, a quick etransfer gets in there in 1 minute.

[terence427427]

Sounds like the best option. I'll open a tangerine chequing account just for ebay...thanks

[raanana]

Never heard about Tangerine,have to check it out
Thank you to all for great answers,that is easy to understand, not like ebay explanation.In any case there is no choice ,if I want to stay here.I'm on other place as well,but for North American buyers ebay is better.

[terence427427]

I already had a tangerine savings account, so adding a chequing account only took me about 1 minute. The institution number and transit number can be found when you open your new chequing account page, its down on the lower right side. Ebay wants that and the new account number. Also, as someone mentioned, your ebay and tangerine names have to exactly match.

[jt-libra]

Thanks for the tip.  You say your main account is with another bank.  I have accounts in a couple of banks but I'm not aware of how you can transfer money between banks instantly.

[msmaggie060]

---

@jt-libra wrote:

Thanks for the tip.  You say your main account is with another bank.  I have accounts in a couple of banks but I'm not aware of how you can transfer money between banks instantly.

---

E-transfer?

[jt-libra]

Of course, E-transfer; however, one of my banking establishments is a credit union and I can never do it instantly.  It takes a couple of days.  It could just be the specific credit union I deal with.  I've never really thought about it, because two days was fine with me, until Managed Payments came into play.  When I saw the word "instantly",  I realized that was something I can't currently do.  Not a big issue right now.

[femmefan1946]

Some credit unions deal with specific banks and have less of a connection with others. Sorry to be so vague, but my little knowledge of credit unions is about 20 years old.

Mine got sold on and sold on and is now part of TD Canada Trust.

Ask at your credit union what is their banking connection.

[jt-libra]

Thanks femme.  Will do.  To date, I haven't needed to transfer funds all that often, but with MP coming up, I should straighten this out.

[forgottenrebel]

Just quit selling like I did. 
ebays a joke now anyhow, ridiculous prices for a buyer ( especially eBay ship charges being twice the cost and taking twice the time ). Also eBay now has Orwellian control over sellers when they started demanding bank account info, that's when I left. It's truly a one sided authoritarian setup now but there are always enough pathetic lemmings willing to bend over and do whatever it takes to sink the whole ship.  

Read the fine print people, you blew it. 

P.S. eBay was amazing for a few decades. I only use Craigslist and kijiji now, it's more fun hunting, it's exponentially cheaper as a buyer and when selling its all cash. 

[byto253]

ZOMBIE THREAD

[smarti519]

ebay no longer supports tangerine- it will not allow it - error msg 'we do not support this bank' , not sure why its subsudary of scotia bank, they even have it as an option to select. 

[reallynicestamps]

Managed Payments is having a problem of some sort with Tangerine. And we've also seen reports of problems with Simplii, and with the Royal Bank.

Apparently it's best to keep cool and be ready with another chequing account.

It's business, not personal.

Two common problems: using micro-payments to confirm identity seems to glitch over foreign exchange and your names must all match precisely.

If your name is John Jacob Jingleheimer Smith, you cannot have a bank account as John Jacob Jingleheimer Smith, a Managed Payment account as J J  Jingleheimer Smith, and an eBay account as JJJ Smith.

[reallynicestamps]

That being said this is a

ZOMBIE THREAD FROM MARCH 2021.

And some of the advice may be out of date or wrong.