So has everyone signed up for managed payments?

[musicyouneed]

I am just wondering whether everyone has signed up for managed payments?  Is it already working.  I have hesitated as my money goes into a US bank account and wonder how that is going to work?  What is the cut off day to sign up and what happens when that day comes around?   

[cumos55]

The information is that everyone will be registered to use Managed Payments (MP) by the end of 2021.

If your email says register now.... DO NOT wait....There are some very specific things that are necessary to have...

(1) I have an individual account on eBay... My bank account for MP is a savings account.

If a seller has a business account on eBay it must be a business account at the Bank.

(2) Your name on eBay must be in the same format as  your name in relation to the bank account

That is First Name-Last Name ... OR...  First Name-Middle Name-Last Name ... OR... First Name-Middle Name Initial-Last Name

If registered with a Business Account on eBay... the name of the business must be the same on eBay as in relation to the business bank account.

(3)  The bank document must contain

        The official letter logo of your bank.... found on all communications from the bank

        The bank account number.... 

         Your name as presented in number 2 above.

This document links your name on eBay  to your name in relation to your bank account used with MP

(4)  You must also know your bank number.....  and ... Your branch number 

(5) Providing your Social Insurance Number... SIN... is optional.  

_______________________________________________

If you as a Canadian seller do not want to continue selling on eBay....you can register for MP.....  and then choose to stay on eBay  or leave eBay after registration

You will then know everything about MP

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If the wording is .... Register Now... Do not hesitate.....

Because  there may be a day when you are running around looking to put the required  information together .... 

The bank document may be the hardest thing to put together

[triber]

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@pjcdn2005 wrote:

Did you get a letter saying that you need to change by a specific date?   Not all sellers will be changing over at the same time so unless you got the email with all of the info, you won’t need to change yet.

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I haven't got anything to do with the managed payments, I have checked through all my messages from eBay on my eBay page and I can't find anything. I don't even understand it all and feel very stressed about it. I don't have a US account, and I really don't know how things are going to happen. If anybody can give me a simple explanation, I would really appreciate it.

[ypdc_dennis]

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@triber wrote:

... If anybody can give me a simple explanation, I would really appreciate it.

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If you  have not been asked to sign up, then DO NOT WORRY.

This Managed Payments is being done in stages. 

Until you are requested to convert, the old way will still work as usual.

And since you are listing on ebay.com you should be in one of the last batches of Canadian Sellers to be converted (probably sometime in 2021).

-..-

[pjcdn2005]

I’m guessing that I will be one of the last ones too since I list on both sites and I sell coins which aren’t set up with MP yet.

[travis7s]

I actually get a little popup once a day when I first list something, and it does mention a July 15 date.

[silverpinups]

(1) I have an individual account on eBay... My bank account for MP is a savings account.

I believe your bank account for Managed Payments needs to be a chequing account.

[silverpinups]

And since you are listing on ebay.com you should be in one of the last batches of Canadian Sellers to be converted (probably sometime in 2021).

I list on eBay.com and my account is receiving messages to register now.

[triber]

I would be very happy to be one of the later ones. I have found in the last 20 or so years on eBay, whenever there is a change, there are a lot of glitches at the beginning to get worked out.

[pjcdn2005]

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@silverpinups wrote:

And since you are listing on ebay.com you should be in one of the last batches of Canadian Sellers to be converted (probably sometime in 2021).

I list on eBay.com and my account is receiving messages to register now.

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On the Wednesday chat you might want to ask if you can defer from starting  in the first group since you do list on ,com.

[silverpinups]

I don't think a Canadian seller listing on eBay.com is an issue with Managed Payments because why would I and @musicyouneed be receiving "register now" emails (we both list on eBay.com). 

I'm not to concerned about it, when the deadline comes I will just end all my listings and shut down. 

The only way I would sign-up for Managed Payments is if I could use PayPal for my deposits. That way I could receive my funds in USD (like I do now) and transfer them to my bank account at my leisure.   

[ricarmic]

As I understand it the diffentiator is whether or not one receives a majority of sales in US$ given they can't send us US$ at this time.

I don't know what level it is, but selling on .COM on it's own isn't enough for a deferral as far as I understand.

[cumos55]

The information that I had for registration for MP...... did not specify ..... that the Bank account used to receive MP payouts must be a chequing account.....  

When I registered for MP the bank account for MP payouts was a savings account.... This account will only be used to accept MP payouts

A seller must look for a bank account where there are no costs levied for deposits or withdrawals.

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The current option .......If a seller sells in US dollars on eBay.com  the money from sales will be converted to Canadian dollars before it is deposited in a Canadian dollar bank account at a Canadian bank.

The question with respect to a US dollar bank account to accept MP Payouts still has to be addressed....

This is a question that must be asked and answered.

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and.... Paypal will no longer be used by sellers to accept payments from buyers.

Buyers will be able to use Paypal to pay for purchases on eBay

[lotzofuniquegoodies]

The other issue that still needs to be clearly answered are the categories that are not permitted with Managed Payments. Suddenly Canadian sellers could become stuck with a bunch of listings that are null and void. Due to no fault of their own.

-Lotz

[musicyouneed]

I don't get any pop ups or any other notification other than the 3 emails I posted, nothing about a date I have to be registered by.   I am listing 5+ on both .ca and .com every day.  Hopefully the sky will not fall in on July 16.  tyler@ebay  can you weigh in on this?  

What would happen if I register with my US bank account on one of my other three ID's?  I do have a US - SIN number.

[musicyouneed]

I would still like to know if you have registered for managed payments?  Just post a yes or no.  

[ricarmic]

No

[triber]

No

[lotzofuniquegoodies]

Nay Nay...Still waiting for my for signing up!!

-Lotz

[cumos55]

Registered in early May 2020

Ready for the transition to MP  after July 15, 2020.

[silverpinups]

"The information that I had for registration for MP...... did not specify ..... that the Bank account used to receive MP payouts must be a chequing account.....  

When I registered for MP the bank account for MP payouts was a savings account.... This account will only be used to accept MP payouts."

I have a feeling you are going to be making an adjustment with your bank in the not so distant future.

A chequing account is needed not a savings account (at least for US sellers). 

I would confirm that banking info with tyler@ebay this week....