New to "Managed Payments" how long for money to show up in bank account?

[mavescards]

Hi everyone,

Just started using ebay "Managed Payments" this week and I just had one question about the length of time it takes for a payment to actually show up in your bank account. Received my first payment through this new program, when I click on the "Payments" tab the order shows as "processed", than it changes to "sent", then lastly it shows as "completed". Checked my bank account after the "completed" notice was given by ebay but the payment has not shown up in my bank account. Is there a delay between ebay's "completed" notification and actually being able to see that money in your account? Thanks guys!

Jeff

[cumos55]

Can you check to see if your bank account information is correct?

Also contact someone about Managed Payments...

at the bottom of this page.....

https://www.ebay.ca/help/selling/getting-paid/introducing-managed-payments-ebay?id=5090

[femmefan1946]

I think you are the first Canadian seller to have reported their Managed Payments option was actually working.

Anything you report will be useful information for those of us who are registered but not yet functioning.

Do you sell to the USA?

[mavescards]

Thanks for the reply. Everything I filled out is correct, just checked. When you sell something does the payment show up immediately in your account or do you have to wait?

[mavescards]

Hi,

I sell to the States if they pay for tracking LOL. I'm not sure I like this new system, who knows when your payments will show up in your bank account. With paypal your funds were there right away.

[ypdc_dennis]

I am not in managed payments on ebay,

but the similar deposit method on amazon takes 1 to 3 business days to show up (my current credit union takes 1 business day, my old bank took 3 business days).

My experience with paypal (unless you pay extra) it takes 1-3 business days for deposits.

-..-

[mavescards]

Thanks for the replies guys. I thought everyone had to move over to Managed Payments, I had a deadline in July to register. Is there any other Canadian here who is currently using the Managed Payments System and can tell me how long it takes for funds to show up in your bank account after the item was paid for by the buyer?

[ypdc_dennis]

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@mavescards wrote:

I thought everyone had to move over to Managed Payments, I had a deadline in July...

---

Managed Payments is being phased in. Those selling in categories not currently supported by MP will be the last to get switched over.

[kawartha-ephemera]

I'm not in Managed Payments, I have not been invited to register yet.

I don't think anyone will be able to tell you definitively how many days post sale your funds will appear in your bank account. There are variables; time of day, day of the week, bank, credit union etc. Another variable is the length of time passed till ebay releases the funds for transfer. Etsy uses a very similiar payments system, when I sold there funds were released for transfer the following day, took a few days to hit my bank account. 

Somewhere in your MP settings there are 2 choices ... daily or weekly deposits.

[femmefan1946]

My experience with paypal (unless you pay extra) it takes 1-3 business days for deposits.

Yah but...

With PP I get to choose when I make that deposit.

If I decide I want to buy something on eBay, I can save up my PP payments until I have enough to buy.

This is particularly good if the Thing is being sold in US dollars.

What I want to know is does Managed Payments show the cleared payment promptly -- like within half an hour?

Moving it out to my bank is of less interest to me, although YMMV on that.

[mrdutch1001]

Yes, all sellers who decide to continue selling on eBay must sign up for MP...eventually ....not all sellers are entering same time...groups of sellers are being phased in over time...My number has not yet been called, but will continue to list on eBay until am told can no longer do so without MP. I will be moving on at that time...

[mavescards]

I'm back with an update... The very first item I sold with Managed Payments was August 6, payment finally showed up in my bank account very late on August 7. So, to be on the safe side anyone who is using Managed Payments should expect payments to hit there bank in 1-2 days after payment is made by your buyer. Oh, and don't count the weekends, ebay doesn't send money to your bank account on Saturdays or Sundays. For example, anything a buyer pays for on Friday won't hit your bank until Monday or Tuesday.

[reallynicestamps]

Could we back up a little?

What was the date of the sale?

Did the buyer pay immediately?

When did the payment show in Managed Payments? August 6?

When was the money moved to your bank? August 7?

Did you want the money moved to your bank that fast?

Because sometimes I want to use my PP balance to buy something special. Right now I have my eye on the complete Torchwood DVD.

I don't want to put that on my card

and it seems like a waste to be paid in US dollars,

be forced to deposit them in my Canadian dollar bank account paying exchange,

pay from my Canadian dollar bank account for the US dollar DVD

paying exchange again.

And the seller pays a higher fee for my international payment than he would if I were able to pay from my American US dollar account.

This is why as much as possible, my real life purchases are in  bills and coins.

[mavescards]

Here are a few answers to your questions...

Could we back up a little? Sure

What was the date of the sale? August 6

Did the buyer pay immediately? Yes

When did the payment show in Managed Payments? August 6? Yes

When was the money moved to your bank? August 7? Yes (very late on the 7th)

Did you want the money moved to your bank that fast? You have the option choosing daily or weekly payments

There is no paypal balance anymore because your payments from buyers no longer go to paypal. They go directly to your bank account in 1-2 business days if you chose daily deposits. You can't use your payments to buy anything, you have to wait until your payments hit your bank account to access them. Everything I do is in CDN dollars since I'm in Canada.

[lady.stark]

Thank you for your answers! Very helpful... I have an additional question though... how did you pay your shipping costs? Were you able to use your MP funds?

[mavescards]

Same as always, the buyer pays the extra cost for shipping. It's an additional charge I have added to all of my listings.

[marnotom!]

I think what @lady.stark is asking is if you were able to fund your shipping costs directly from Managed Payments or your buyer’s payment or if you had to pay the shipping costs out of a different pocket.

[ricarmic]

I'm presuming they take it off the top same as PAYPAL does,... it will be good to know this because for those of us who have to "account" for all this, it means figuring out where and how to get it all added up for each month.....

[femmefan1946]

if you were able to fund your shipping costs directly from Managed Payments or your buyer’s payment or if you had to pay the shipping costs out of a different pocket.

@mavescards 

Right now, I can buy a PP shipping label, or a Shippo label, with the funds in my PP account.

I gather from what you are saying I would have to use my credit card to make a Shippo label, as I do now with Snap Ship (the Canada Post shipping label).

Right?

Another part of those first two labels is that all my eBay information transfers over to the label.

With Snap Ship, I have to manually insert the customer's address.

With Managed Payments, can we buy a Shippo label and if so, will it self-fill or do we have to manually fill the customer information?

I understand that PP labels would no longer be an option*.

I should mention that I rarely buy labels, preferring to use discount mint postage, which is even cheaper than our Solutions for Small Business discounts.

Thanks for your patience.

This is new to everyone, and anyone who has been using MP for even a week or two is a blessing in terms of advice.
EBay has been very very skimpy about how MP actually works down here in the trenches.

*Unless the buyer actually is paying with Paypal and MP is just the processor. In which case.... I have a headache.

[travis7s]

I just got activated on MP last night and made my first sale so we'll see how it goes.

Shippo works the same way it always has, it will autofill the fields for you and it will withdraw from your Paypal account, Presumably if you do not have funds in your Paypal account it will take the funds from your linked bank account. You can also just choose to not use Paypal with Shippo and just link a credit card instead. I don't believe you can link a bank account directly to Shippo, so there is no way for MP to cover your shipping fees directly.