eBay

biglittleape · ‎06-01-2021

Thought I post this since its a pretty common question people, myself included, had/have.

Today I received my first USD deposit into my Canadian TD bank USD chequing account. The amount was exactly what the payout said on eBay side, no fees to receive it.

So far so good.

itolduandso · ‎06-01-2021

How long did you wait for the money?

biglittleape · ‎06-01-2021

The payment was trigerred on the 28th and showed up in my bank this morning.

itolduandso · ‎06-02-2021

OK so about 3 days then.

I got this invite today (see screenshot). I don't see any dates in the notification or on the page by when I need to complete this.

Do they actually follow up after this with an email giving me a deadline? I wonder how much time I have before they pull the plug in me.

Any idea?

itolduandso · ‎06-02-2021

Nevermind the question. I posted this pic in another post where it's being discussed.

elle-tuxedo-cat · ‎06-02-2021

Having signed up yet for MP. Have a few questions. So it was what you would have received on paypal - less the paypal 30 cent basic fee (or whatever it is) and their 3% (not sure what exactly what percentage they take for receiving $) - so basically you received more money than you would have on paypal - and to make it sweeter, no conversion to Cdn dollar ridiculous PP exchange fee. I'm deciding which currency I want to be paid in - I use both .com and .ca - split 65%/35% so I just want to make sure I'm getting the most money on MP and have to choose either US or Cdn account. Thanks for any info you can provide. I'm in Canada.

randomchans · ‎06-25-2021

Thanks for posting.

Did you use USPS to ship your item? If so, how did you pay for the USPS shipping label?

And mind if I ask - how do you plan to use the funds in your USD chequing account? As far as I know USD chequing accounts in Canada can't be used for online purchases. You also can't e-transfer to a Canadian account because of the different currencies. I'm leaning towards payouts in USD but don't really know if there are any benefits since this new system seems to be worse than Paypal in every way.

Thanks

marnotom! · ‎06-25-2021

@randomchans wrote:

And mind if I ask - how do you plan to use the funds in your USD chequing account? As far as I know USD chequing accounts in Canada can't be used for online purchases. You also can't e-transfer to a Canadian account because of the different currencies. I'm leaning towards payouts in USD but don't really know if there are any benefits since this new system seems to be worse than Paypal in every way.

There have been a couple of posters on other threads who have suggested that sellers with Canadian-based USD chequing accounts should consider getting a USD VISA or Mastercard through the same bank to make those online purchases, then they can use the funds from the USD chequing account to make payments on the card.

byto253 · ‎06-25-2021

You can transfer to a CDN account, either directly and pay the conversion rate. You can also write a cheque and deposit it, paying the conversion amount. If it is not huge amounts, you can also withdraw US$ and convert it at a currency exchange which here always has the best rate.

But for any currency transactions with my bank I get the rate from the currency exchange and they have always matched it with no fuss at all.

I find Paypal much more restrictive as the exchange rate is the worst on the market, and it is not accepted in a lot of places I would like to use a lot of the US$ for travel and the acceptance of Paypal for payment has gotten worse over the years. I find I have US$ trapped in Paypal that I can't use on the US$ items I would like to use it for.

For my next trip I will get a US$ credit card and use that for purchases and expenses.

idea_canada · ‎06-25-2021

Just to add or compliment the OP's post...

We have been with PayPal for years but have since made the switch to manage payments when it was first announced. I'm sure this experience would be different between users and their banks, but our transition was smooth as CIBC US was easily verifiable through its own US banking app. Setting up an RBC US Business account was a bit of a challenge as RBC isn't searchable on the .com site and doesn't have its own US banking app. Setting up an RBC account required to manually input the banking information (routing number, account number...) and to manually verify it (micro deposits). For us it took a week to set this up and the following week to receive our first eBay payout.

One minor annoyance about managed payments was that we weren't able to add two US bank accounts to one eBay account. Say for example that if you were on planning on switching accounts from CIBC to RBC you would have to delete the first bank account and run the setup again for RBC. If RBC or any other bank that doesn't have its own US dedicated banking app (for verification), then it would take more than a few business days (for us it took 2 weeks) to have it setup to receive our first eBay payout.

Idea

idea_canada · ‎06-25-2021

@marnotom! wrote:
consider getting a USD VISA or Mastercard through the same bank to make those online purchases, then they can use the funds from the USD chequing account to make payments on the card.

Yes this works on payments made at any Canadian store that accepts VISA or MASTERCARD, however it doesn't work the other way when you're receiving a refund.

Idea

itolduandso · ‎06-27-2021

Probably true ... and related to this seems at least for me USD Checking can't be used for refunds and paying ebay fees either. Yet, ebay has done the 2 micro-credits followed byt 2 micro-debits on my USD checking account and it worked fine.

I am still registered on ebay.com and I am on MP now with USD payouts and was able to link Canadian USD account for payouts.

Today I noticed today I am not able to add the Canadian TD Bank USD account as source to pay Ebay fees and refunds. Strangely enough the MP setting profile only accepts US Bank account asking me for routing number etc.. Can't add Canadian USD account. The only option available for me is credit card and paypal.

So why is ebay testing direct debit on my account but then I can't have that option connected in my account settings.

They either haven't changed it there yet or they don't plan to make the change .. and I have to make my way to move the account from ebay.com to ebay.ca. Just been waiting till all that dust with MP settles.

Will need to call support again to see what's the best to do for me now.

I already called them about 10 times since this MP madness started a months ago for me. Feeling tired of this already.