eBay

phoebescollectables · ‎06-16-2022

I plan to start selling again after a long absence and I have a few questions about MP. I have read the posts on this board but I wasn't able to find what I was looking for.

I am located in Canada but will be listing on .com in USD. For getting my money out of eBay can I...

- have the money deposited into a Canadian based USD account

- or do I have to deposit the money in a US based USD account.

If the latter I know in the past there were a few different options. You could physically open a USD account at a US bank, you could open a US based account through TD. And there were also workarounds for using a RBC USD account. I was wondering what the current options are and what most people use.

Thanks in advance

pjcdn2005 · ‎06-16-2022

Assuming that it still works the same way as it did a while ago, when you want the money deposited in $US you would have to use a Canadian based $US chequing account. You would still sign up on .ca even though you would be listing on .com.

recped · ‎06-16-2022

In addition to what @pjcdn2005 posted. Choosing USD or CAD payouts is a one time option unlike in the past when you could switch once per year.

When you sign up for Managed Payments you can pick the currency you wish to use, from then on that is what you are stuck with, the only way to change is to start a new selling id.

"What else could I do? I had no trade so I became a peddler" - Lazarus Greenberg 1915
- answering Trolls is voluntary, my policy is not to participate.

byto253 · ‎06-16-2022

As indicated in the other posts, a Canadian based US$ chequing account is required. I would strongly advise against trying a work around and trying to force a fit with a US based account. There have been many posts about folks that go into a crazy bad spiral when they try that kind of thing.

I looked around for a US$ chequing account and the usual freebie accounts did not work as they were not chequing accounts. e.g. Tangerine. I ended up at TD and keep a minimum balance so I avoid the fees.

I keep writing chequing as that is a non-negotiable requirement and is not to be messed with. I had zero issues setting it up with eBay and funds arrive within a couple of days of the payout day.

femmefan1946 · ‎06-16-2022

My Simplii online account is a chequing account.

There were some early troubles with Tangerine, some of which were specifically from Quebec sellers, but the chequing may have been part of that too.

But DD has had a Tangerine account for years, and I believe it was a chequing account.

byto253 · ‎06-16-2022

Tangernine does have a CDN$ chequing accounts, but not a US$ chequing accounts.

mcrlmn · ‎06-17-2022

When I sold in USD, I had to manually deposit USD funds into my CDN USD account.

I had hoped to use the profits in USD to pay for vacation(s). How convenient right?

Unfortunately there were legalities regarding USD and the US border.

My choices were:

Have the money deposited into a Canadian based CDN account.

Or have the money deposited into a US based USD account.

femmefan1946 · ‎06-17-2022

Another thing to consider-- will you pay currency exchange when you put the USD into your Canadian bank account and /or when you take the money out?

marnotom! · ‎06-17-2022

@mcrlmn wrote:

When I sold in USD, I had to manually deposit USD funds into my CDN USD account.
I had hoped to use the profits in USD to pay for vacation(s). How convenient right?
Unfortunately there were legalities regarding USD and the US border.

My choices were:
Have the money deposited into a Canadian based CDN account.
Or have the money deposited into a US based USD account.

Was this prior to Managed Payments? My understanding is that things are a bit different now compared to the PayPal days.

pjcdn2005 · ‎06-17-2022

In managed payments the money can not be deposited into a US based account. I believe that Paypal worked differently.

living*daylights · ‎06-20-2022

Hello

I just tried to connect my TD checking to Ebay MP but for the 2 times failed to do so. The microdeposits did not go through! Did you have the same issue? it seems like ebay issue as I have read some people menton this.

Any advise?

thanks

byto253 · ‎06-20-2022

Mine was seemless, I was directed to log on to TD, which I did and everything got taken care of. I would recommend calling in to eBay - look for a Managed Payment support number or if you call the regular number request to be transferred to someone who specializes/handles Managed Payment questions. You may hit a wall asking for that referral but it is worth asking. Someone else may have a specific MP contact number, I thought there were some posts about that in the past.

reallynicestamps · ‎06-20-2022

There have been problems reported in the past with micro-deposits. It has been postulated that this might be related to currency fluctuations.

Try using your passport or driving license for identification.

You are allowed to use your SIN, but like more Canadians we are leery of posting that anywhere.

MANAGED PAYMENTS NAME MATCH
And all your names must match.
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.

These are the social media accounts covered by eBay employees.

The phones are sub-contractors.

 https://community.ebay.com/t5/Selling/How-do-I-contact-Customer-Support/m-p/32016431#M1783851
  https://www.facebook.com/eBayForBusiness/ — Message button in upper right on landing page.
https://twitter.com/askebay?lang=en
 

ctc669alternate · ‎06-21-2022

Can I confirm that this was a USD chequing account at TD, based in Canada? Asking b/c I'm having similar issues, but I think it's b/c the account was originally set up as Individual, thus defaulted to CAD, and now that I'm trying to switch over to Business in order to set up managed payments and USD, I'm unable to do so b/c the account was originally in CAD.

Numerous calls to eBay have proven useless, so my guess is my best bet at this point is to close the account, and open up a new one, select Business and then finally I can get paid out in USD.

reallynicestamps · ‎06-22-2022

Only sellers have Managed Payments accounts.

They exist to process payments from buyers to the seller's bank.

If you set up your MP account in loonies, that's it. You can only now have an MP account in USD if you start a whole new eBay account and add your USD account (which is still in a Canadian bank) to it.

My arithmetic is weak, so I will just wonder if having the money arrive in your MP account in USD and then go to your USD (but not American) bank account attracts any currency exchange fees.

marnotom! · ‎06-22-2022

@ctc669alternate wrote:

Numerous calls to eBay have proven useless, so my guess is my best bet at this point is to close the account, and open up a new one, select Business and then finally I can get paid out in USD.

I would give the online chat option or one of the social media contact options a try before you go through the awkward process of closing your present account. My understanding is that "talking to eBay" usually involves getting a contracted out call centre employee, while the online options will get you a better-trained eBay employee.

https://www.facebook.com/eBayCanada

https://twitter.com/eBayCanada

https://www.ebay.ca/help/call_us?type=ContactUs&l1label=Selling

living*daylights · ‎06-22-2022

That may be the reason! Please let me know how you proceed and if any luck!

Yes TD Canadian bank. USD account

PS just read your post more carefully - I dont think that is the issue. I just opened the brand new account and USD banking. I was never asked by ebay what currency account I prefer. AS they told me after the first sale it will be automatically in the currency I sold. May be then I will be able to attach the bank.

marnotom! · ‎06-22-2022

@ctc669alternate @living*daylights

Are either of you registered with a US address? I see that there's a user @ctc669 that is registered in the United States who ships out of Blaine, WA, a common shipping point for BC Lower Mainland-based sellers bypassing the Canadian postal system.

The problem confronting Canadian sellers who still have US registration addresses is that the eBay system recognizes them as US citizens and as a result they're getting eBay US "paperwork" and being expected to fill out various tax documents, etc. as well as providing a US-based checking account for Managed Payments.