Selling on ebay.com in USD with Managed Payments for Canadian sellers

[laptops4sale2]

Hello,

Could anyone clarify if Canadian sellers can still list on ebay.com in USD after we switch to MP?

Can we receive payout in USD either to US bank or Canadian bank with USD account?

Can we even list on ebay.com with MP or are we going to be limited to ebay.ca with listing in CAD?

What should sellers do who have a bunch of listings on ebay.com listed in USD?

I did call ebay support seeking answers to these questions and reply I received was rather vague, but overall it seems like we may be limited to selling on ebay.ca in CAD only after the switch is made to managed payments.

Maybe Tyler@ebay could provide more information on this topic.

Thanks

[marnotom!]

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@rcb123_5 wrote:

I've been on managed payments since November, but only started listing on .com at the start of 2021. Transactions are in US funds, but converted to CAD before it's transferred to my bank. They show in the transactions what they used for the exchange rate the day of the transaction, which is a bit lower then the bank rates. For example, one sale I had netted 26.28 USD after fees, converted at 1.23492 worked out to 32.45 CAD added to my available funds waiting to be transferred to my bank.

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The Canadian dollar has been slowly creeping back toward the 80 cent US mark since tanking in March when the world went sideways.  Your exchange rate actually sounds very competitive compared to what TD was offering just before the weekend, but since you don't say when your conversion occurred and what the banks were offering that day, it's impossible to make an informed comment.  Also consider that a currency's "buy" and "sell" rates are different and you may have been comparing a "buy" rate to a "sell" rate.

[recped]

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@reallynicestamps wrote:

eBay will be requiring China based sellers to enter into the MP system this year, this currency issue is going to be a big deal for them so it's not just a matter of "it's only Canada so who cares".

Interesting.

Can you point us to a link showing that ? 
Pretty sure that is the market that will force eBay/MP to allow multiple currency accounts.

Now if we could also get multiple bank accounts , no matter what the currency,  but that could be a unexpected consequence of the multiple currency correction.

Toes crossed.

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Posted January 18th

https://www.ebayinc.com/stories/news/ebay-will-begin-managing-payments-for-sellers-in-greater-china/

[lotzofuniquegoodies]

I'm not sure if this requires a whole new discussion but something to take into consideration when switching from PayPal to MP. Maybe leave some funds in your PayPal account to cover any "unfortunate" cases of claw backs for refunds/holds. As per the attached post if a transaction was completed in PayPal it "should" go into hold in PayPal. 100 % all the time. Who knows? If anyone has a recent example of how this was handled in your particular case, please add to this discussion. MP transactions "would" be handled from Pending Funds...Your eBay Bank Account(2nd source???). Sadly money limbo could be the new normal.

The same thing happened to us with a return from a sale that was made before we went into managed payments. eBay rep said any returns from sales prior to us starting managed payments have to be taken from the previous funding source (Paypal). eBay should have made that clear before we drained our Paypal account. Now we have to re-fund our Paypal account for some older returns.

https://community.ebay.com/t5/Payments/Daily-Payouts-taking-4-Days/td-p/31124659

Hopefully situations like these are few and far between but still a possibility.

-Lotz

[pjcdn2005]

It seems like it would be common sense that if the payment was originally put into a sellers PayPal account that it where it would need to come out of if there was a refund.   

[lotzofuniquegoodies]

But not something everyone might could consider if they were to drain their paypal account.

-Lotz

[pjcdn2005]

Obviously they weren’t using common sense when they drained it. I don’t think that eBay can account for every scenario that might happen.  We have to take some responsibility and think ahead. 

[lotzofuniquegoodies]

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@pjcdn2005 wrote:

It seems like it would be common sense that if the payment was originally put into a sellers PayPal account that it where it would need to come out of if there was a refund.   

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Has the 2 + year roll out of MP been handled well? No

Have questions that were asked 2 years ago been answered? No

Have the concerns been properly addressed. No

Are there problems with sellers setting up MP. Yes

Are there problems with sellers getting paid. Yes

Do we have any sort of timeline for concerns to be addressed? No

Paid in a timely manner? NO

Would it have been helpful if sellers had answers before they were basically forced into MP if they wanted to continue to sell? More than likely, DEFINITELY!!!

Am I nervous about eBay handling my money. More than extremely!!!

-Lotz

PS. Ebay was advised of an issue with buyers short paying the fuel surcharge for certain services with Canadapost over 2 weeks ago for an increase that was announced over 1 month ago. This is still not fixed and is costing sellers money that they will never recover.

[pjcdn2005]

There are definitely concerns about MP. I never said there wasn't. 

[mchammered2001]

Well my ebay.com business account has been locked out from being able to add or revise any listings now since I can't register for MP.

I was lucky to get some updates done this weekend, now I guess I wait for the listed products to sell out and time to move on to a different platform.

[marnotom!]

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@mchammered2001 wrote:

Well my ebay.com business account has been locked out from being able to add or revise any listings now since I can't register for MP.

I was lucky to get some updates done this weekend, now I guess I wait for the listed products to sell out and time to move on to a different platform.

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If I'm understanding you correctly, your account is registered on eBay.com rather than eBay.ca, probably because when you first registered on eBay, there was no eBay Canada.  You'd be considered a "legacy user".

Your business account being registered on eBay.com is probably working against you in these circumstances, unfortunately.  The bots are probably sending out these emails and suspending accounts based on the eBay site with which the account is registered, rather than on the seller's location.

[ricarmic]

I don't think it is a legacy/grandfathered account, because that's what I have/am.

I started on .COM before there was a .CA

At some point in history ebay "moved" my account to the Canadian side, probably because of my registered Canadian address, so despite the fact I do almost everything on the .COM side, my account shows me as .CA

My guess is that OPS account is a .COM account with a US Address etc attached to it, which would continue to look like a US .COM id, but I could be wrong..... (I believe this because I spoke to a fellow Canadian yesterday who has a .COM account with a US Address, bank attached to it)

[femmefan1946]

Both RBCBank and TDNorth are American banks working in USdollars that are available through Canadian banks,  Royal and Toronto Dominion respectively.

Some snowbirds use them, but more often they are used by businesses who do a lot of USD business.

If you decide you want to keep selling on eBay, and not everyone finds this the best site, drop in to your local branch and ask.

We are able to move our RBCBank funds to our Royal Bank USD account with only one set of currency exchange fees, so that might be useful.

[pjcdn2005]

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@mchammered2001 wrote:

Well my ebay.com business account has been locked out from being able to add or revise any listings now since I can't register for MP.

I was lucky to get some updates done this weekend, now I guess I wait for the listed products to sell out and time to move on to a different platform.

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@mchammered2001 
Were you just talking to a regular ebay customer service rep or someone from Managed Payments?  I could be wrong but since you are registered in Canada you should still be able to register for MP with that account but using a Canadian bank account.  Then you could either keep your listings on .com and pay the 3% exchange (ouch) or move then to .ca.  You can list on either site regardless of which site you are registered on.

[mchammered2001]

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@ricarmic wrote:

I don't think it is a legacy/grandfathered account, because that's what I have/am.

I started on .COM before there was a .CA

At some point in history ebay "moved" my account to the Canadian side, probably because of my registered Canadian address, so despite the fact I do almost everything on the .COM side, my account shows me as .CA

My guess is that OPS account is a .COM account with a US Address etc attached to it, which would continue to look like a US .COM id, but I could be wrong..... (I believe this because I spoke to a fellow Canadian yesterday who has a .COM account with a US Address, bank attached to it)

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I have no idea if my account is a legacy one or not, but you are correct that my .COM account has a US address attached to it.

The issue is I am not a registered US business as I do not have an EID number, so I am unable to complete the signup to MP. There is an option to convert it to a Personal account if I can find my ITIN number, but I am still disappointed that I can't keep the business account as is since I have zero infractions/complaints/issues since I activated the account.

[mchammered2001]

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@pjcdn2005 wrote:

@mchammered2001 
Were you just talking to a regular ebay customer service rep or someone from Managed Payments?  I could be wrong but since you are registered in Canada you should still be able to register for MP with that account but using a Canadian bank account.  Then you could either keep your listings on .com and pay the 3% exchange (ouch) or move then to .ca.  You can list on either site regardless of which site you are registered on.

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I spoke to to a MP CSR.

I have a .COM business account registered in the US and linked to a US bank account. Everything about that business is done is USD (paying for manufacturing, resourcing, shipping, etc) do having funds autoconvert to CAD with a 3% fee and then have to pay a fee again to convert it back to USD is ridiculous.

[groupbreakhits]

Sure, this works if you're just purely a seller. But many also purchase with eBay sales, and that is two currency conversions and that is terrible. 

[marnotom!]

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@groupbreakhits wrote:

Sure, this works if you're just purely a seller. But many also purchase with eBay sales, and that is two currency conversions and that is terrible. 

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And that would be the case for the other 189 or so markets served by eBay.

I think we're so accustomed now to our economic and political ties to the United States that we've taken them for granted.  Most other countries have to jump through far more hoops when dealing with our neighbours to the south than we do.

I've had friends from other countries visit Canada and they're either surprised by how similar we are to the United States or how different we are from the United States; it depends on for what you're looking.  As Adyen (not Ayden, folks) is a Netherlands-based company that's had a Canadian branch for two and a half years or so and they're likely still on a learning curve.

[lori880552]

Tyler@ebay

I am running into this issue now. I am a Canadian seller, selling on dot com. I’m asked to link my bank account but I cannot link my Canadian bank account. What do I do? I see that this post has been nearly a year old. Maybe there’s been new progress?

[femmefan1946]

You can run to the Royal Bank  or the TD and open an American bank account.

The Royal has an American arm* called RBCBank and the TD has TDNorth.

You don't need an American address.

The account is in US dollars.

You can, at least with RBCBank, move your US dollars to your Royal Bank US dollar account with no exchange or fees. This may also be true for TD and TDNorth.

These accounts are available to businesses who do a lot of buying in the US but also to snowbirds who spend a lot of the year in Florida or Arizona.

It sounds as if your account was opened as a dotCOM one and at this time MP only allows attaching bank accounts registered in the same country and in the same currency as the eBay account.

@lori880552 

I'm actually a little surprised that a low feedback account has been told to join Managed Payments. Mostly eBay has been concentrating on busier accounts.

*I'm not clear on what part of it they own.

[melissa72389]

Hello,
I'm a Canadian who sells exclusively on EBay.COM in USD. eBay support confirmed that they will not allow my seller account that was registered on eBay.CA to have payouts deposited from eBay.COM sales into my USA based bank account. I must have my payouts deposited to a CAD based bank account.

Before I knew that my USD based checking account was banned from receiving payouts, I opted to receive all of my eBay payouts in USD.

Is getting paid for EBay.COM sales in USD really mandatory now, or can you get paid in CAD for eBay.COM sales?

I'm thinking it's actually better to get paid for .COM sales in USD by eBay. I would use my Transferwise (aka Wise) Canadian bank account to receive the USD from eBay.

This prevents eBay from converting my USD payouts to CAD for me, saving a lot in Forex fees. Transferwise is more cost effective.

Am I missing something? It's better to get paid in USD by eBay for .COM sales, right?!