Private VS Business Account - Managed Payments

[supersavingsstore]

Hi everyone, 

Firstly, I want to know what people think of Managed Payments. I am a little worried about how vague the information is regarding it and, more specifically, the fees associated with it. How will it effect defects relating to refunds? I always used to issue refunds directly through PayPal, avoiding a lot of defects. It seemed to be fairly random; sometimes, eBay's system would pick up on it. Sometimes, it would not. As a seller, my customer service is very good, so I issue refunds whenever a buyer is somewhat upset, as my items are less than $8.00 in value. I am worried that if I continue to do this, eBay will punish me with defects as I will have to do everything via Managed Payments.

Secondly, I went to look into signing up, and it asked me if I want to change my "Private Account" into a "Business Account." I have never seen this before. What does that mean? I sell a fair bit of items and have never had any issues (not enough to pay sales tax). Should I switch my account. Is there any difference?

How does everyone else feel about these changes? I am not sure whether to be happy or afraid.

All the best,

Adam

[ricarmic]

Actually these days fully refunding directly from PAYPAL opens one to "bad" defects if the buyer has not messaged you first through eBay (using a message as opposed to an INR). The BOTS will think you had an out of stock item and tried to hide it by refunding from PAYPAL if the buyer did not message you to advise of the problem before you refunded.

The refund process through eBay does not cause you any important defects unless you make ebay decide it. If you refund within the time limits on your own, you will have it show in your service metrics but not in a way that financially or otherwise punishes you (as far as I know).

Personally I am avoiding MP until I am forced to accept it. It will likely be a pain, and require some adjustments from me, but I've survived lotsa stuff like this in the last 20 years.....here and on other sites.

[supersavingsstore]

Thanks for your reply and for the information. I always find the information regarding defects from refunds on eBay confusing. That's good to know.

Do you know the difference between a "Private" or "Business" account? Is that something I should be concerned about, being a "Private" account at this time.

[cumos55 · Accepted solution]

On eBay you can have an ...  Individual Account...or a ... Business Account ... 

The type of account you have becomes important when Managed Payments (MP)  is used.

If you have an Individual Account on eBay the MP payout should be made to a regular bank account, such as a Savings Account, at your bank

If you have a Business Account on eBay the MP payouts should be made to a Business Account at your bank

Also .....    Your name should be spelled the same on eBay and at your bank.

[cumos55]

The Individual Account is a Private Account...

[ricarmic]

---

@supersavingsstore wrote:
Thanks for your reply and for the information. I always find the information regarding defects from refunds on eBay confusing. That's good to know.

Do you know the difference between a "Private" or "Business" account? Is that something I should be concerned about, being a "Private" account at this time.

---

Sorry I do not know, it was 20 years ago* when I set up my account, and I would have done that as a business account anyway.

*I have a tough time remembering what I had for breakfast most days!

[ricarmic]

---

@cumos55 wrote:

On eBay you can have an ...  Individual Account...or a ... Business Account ... 

The type of account you have becomes important when Managed Payments (MP)  is used.

If you have an Individual Account on eBay the MP payout should be made to a regular bank account, such as a Savings Account, at your bank

If you have a Business Account on eBay the MP payouts should be made to a Business Account at your bank

Also .....    Your name should be spelled the same on eBay and at your bank.

---

Hmm this is interesting, I may have to watch this more closely. Because my business is my name, I so far do not have a formal business account at the bank, just accounts in my name that are for the business only (if that makes sense). Business accounts are unnecessarily expensive for one man shops.

[barnfindparts]

I'm curious to know if canadians will still be able to sell on the .com site? Also the resulting accounting nightmare should be fun. Paypal and quickbooks is already pretty bad not sure how this will roll out

[supersavingsstore]

Thanks for your detailed information. That's super helpful, as I now know NOT to chose business account, as I would like to use a personal account with my eBay Managed Payments system.

I'm also very worried about the name as you mentioned, as well as things like DOB, etc. I setup my eBay account long before I planned on selling anything, so I am unsure of whether or not my personal information is accurate. Will this be an issue?

[supersavingsstore]

That's okay, I have forgotten a lot of important details regarding my account as well, and am worried this with be an issue going forward with the switch to MP.

[cumos55]

I received the email, yesterday,  that stated I would have to register for Managed Payments by July 15, 2020

I had already started doing some of the necessary adjustments such as .....

(1) Using a credit card to pay my eBay costs... an eBay invoice ....No more Paypal for this

(2) I now have a special Savings Account for my Payouts from Managed Payments.... 

(3) My eBay account  has become an... Individual Account... no longer a Business Account....  Never used eBay Business Options

(4) My name on eBay is the same as my name at the bank...Same first and second names.

These Payouts ... plus.... my eBay invoices, paid by a credit card,  will become my income, sales plus postage,  for each year..... 

I had already added a Savings Account to my group of accounts....at the bank ...  on April 23

This savings account will be used like a Business account would have been used at my Bank....

My bank does have a Business Account with no cost  to use this account....Definitely something to check with other banks.... a no cost Business Account.

[cumos55]

Go to ... Account Summary .... on eBay Seller Hub Overview

and then look at..... Click Personal Information ...  in the left navigation column.

and then check registered email address,,, and ,,, registered name, address and telephone number....

More might be required if one registers for Managed Payments

I now have a Payments option for Managed Payments  on ....  Seller Hub.....Overview.

[cumos55]

If a seller has a Business Account on eBay.... the Business name on the eBay  Business Account must match the Business name on the Business Account at the bank.

[ypdc_dennis]

---

@barnfindparts wrote:

I'm curious to know if canadians will still be able to sell on the .com site?

---

Yes.

According to info on the USA forums, for Canadians selling on another ebay site, any sales would be converted to Canadian$ before being paid to their bank (3% conversion fee).

Canadians selling on .com and keeping US$ funds is an unknown.

-..-

[cumos55]

What if a Canadian seller sells on eBay.com in US dollars and links a US dollar bank account at a US Bank  in the US ..... to Managed Payments.....?

This seller becomes a US seller......???

[supersavingsstore]

Thanks for this. I will try to do that. I know that some personal fields are tough to change.

[supersavingsstore]

I just tried doing this, and all of my information looks correct and should match my ID / bank info. My only concern is, what about Date of Birth. Will they be checking the DOB on the ID to match that on the account? If so, I may be in trouble, as I cannot remember the DOB on my account, but I wouldn't be surprised if it is incorrect. Is this changeable? 

[ypdc_dennis]

---

@supersavingsstore wrote:

I just tried doing this, and all of my information looks correct and should match my ID / bank info. My only concern is, what about Date of Birth. Will they be checking the DOB on the ID to match that on the account? If so, I may be in trouble, as I cannot remember the DOB on my account, but I wouldn't be surprised if it is incorrect. Is this changeable? 

---

Check with your bank as to what your account details are. They can fix their details.

However, I would be surprised if MP actually checked what DOB is associated with your bank account. Bank privacy issues.

...

Or set up a bank account just for Managed Payments.  I'm going to be dusting off an old Tangerine (formerly ING Direct) account. And will move the money elsewhere when required.

Tangerine is still fee free for basic services and transfer times are okay, but I think I'll add overdrawn protection in case eBay's MP pulls money from the account (Tangerine has a big fee when your account balance goes negative).

-..-

[supersavingsstore]

Sorry if I was unclear. I more meant that my eBay DOB is possibly incorrect, and I can't find a way to change it or even view it. Does anyone know if this is possible?

[ypdc_dennis]

---

@supersavingsstore wrote:

Sorry if I was unclear. I more meant that my eBay DOB is possibly incorrect, and I can't find a way to change it or even view it. Does anyone know if this is possible?

---

I don't remember ever giving eBay my date of birth. I can understand MP needing to know for financial legal reasons.

Someone with ebay insider connections might know --

tyler@ebay