Managed Payments and Personal Bank Account

[bpl521_sell]

All:

I am always loathe to allow any company to have access to my personal bank account and always prefer to link payments to a credit card. IMHO one gets a extra layer of protection with a credit card. As we all are now forced to use managed payments and use a bank account what happens if Ebay decides to refund a buyer, are we notified ahead of time of the pending refund. I typically would not keep any funds in the bank account,  and don't want to be forced to keep a float going to cover any additional charges so as to avoid a negative balance or pay bank fees for a overdraft?

Any tips/suggestions

[recped]

When eBay refunds they will draw the funds from......

1 - any pending funds in your Managed Payment holding account

2 - Your primary funding source on file

3 - Your backup funding source on file

5 - your bank account

6 - funds from future sales

7 - send it collections if all else fails

# 2 or #3 can be PayPal, credit card, debit card, bank account, when you enter MP the defaults will be set to whatever they were when you were using PayPal.

If you want to make sure they don't try to dip into you (empty) bank account then change you funding source and backup to something that will always be available like a credit card.

[bpl521_sell]

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@recped wrote:

When eBay refunds they will draw the funds from......

# 2 or #3 can be PayPal, credit card, debit card, bank account, when you enter MP the defaults will be set to whatever they were when you were using PayPal.

If you want to make sure they don't try to dip into you (empty) bank account then change you funding source and backup to something that will always be available like a credit card.

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So can managed payments be linked to a credit card, I was under the impression it had to be a bank account?

[femmefan1946]

tyler@ebay 

I've seen advice that sellers set up a stand alone online bank account for Managed Payments but no one has said we could attach MP to a credit card.

Clarification please.

@recped 

A debit card is just an electronic chequebook attached to a bank account. If the bank account is overdrawn, so is the debit card.

[recped]

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@bpl521_sell wrote:

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@recped wrote:

When eBay refunds they will draw the funds from......

# 2 or #3 can be PayPal, credit card, debit card, bank account, when you enter MP the defaults will be set to whatever they were when you were using PayPal.

If you want to make sure they don't try to dip into you (empty) bank account then change you funding source and backup to something that will always be available like a credit card.

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So can managed payments be linked to a credit card, I was under the impression it had to be a bank account?

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Money from sales goes to your bank account. You may still receive a monthly invoice for Store Fees, Listing Fees, refunds when you have no ongoing sales etc. You can pay for that using any of the methods above.

You cannot receive payouts any other way than to a Canadian checking account.

[bpl521_sell]

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@recped wrote:

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Money from sales goes to your bank account. You may still receive a monthly invoice for Store Fees, Listing Fees, refunds when you have no ongoing sales etc. You can pay for that using any of the methods above.

You cannot receive payouts any other way than to a Canadian checking account.

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That is more reassuring, at least one doesn't have to worry about keeping a minimum balance in a banking account to cover fees or any surprise refund scenarios.