New Message about Payments on my selling page overview

[bentley65]

Hi

I was just doing some listings and noticed there is a post on my Overview - update your details - payments on e-bay have changed. When I click it it takes me to a spot to enter new information for that managed payments thing. I am a small seller without a store. It said I had to do this so my selling would not be interrupted. 

If I ignore this will my account be suspended? I am finally starting to make a few sales here lately. I have taken the advice of the senior sellers and am using my sponsored listings and being careful with my titles.  I list or relist a few things daily.

 I guess I will eventually enter my information for this. I am wondering if it works better than PayPal or are other sellers having issues with it? 

Will it cost more to use Managed Payments? I sell low value items and any more expenses are really lowering my profits. 

Thanks for any information. I did read what the link on managed payments said.

I had trouble understanding though so my only take on it was it is supposed to lower some sellers expenses and give buyers more ways to pay.  Also the e-bay fees are taken out of the buyers payment so no more monthly e-bay bill? Am I understanding this correctly? Any potential drawbacks for a non store seller? Are there long waits for the money deposits?

Thanks again.

Sherie

[femmefan1946 · Accepted solution]

One of the biggest problems with Managed Payments has been that eBay only discloses the facts when the seller signs up. And once signed up, there is no going back.

Only you can decide how much of a risk you are willing to take with your account.

For what little it is worth, I have been getting that message on two of my accounts, including this one, since at least August, and have been basically ignoring it.

Nothing has happened ,... yet.

My reasons for ignoring it are all banking related.

I'm not fussed about the fees. I assume there may be some rise in fees, or perhaps not. I can't control either PP or MP fees.

I'm not concerned that if I sign up my sales will stop dead. The entire idea that buyers will stop buying fromMP sellers falls apart when we consider that the buyer does not know who is and who is not in MP.

• Well actually, if the buyer is also a seller and aware of the changeover, she would be able to spot the MP sellers because they also accept ApplePay and GooglePay, increasing the ways the customer can buy.

I am a little concerned that I cannot keep a balance for any length of time in an MP account, but must have it deposited to my bank on a schedule. This means I can't save up and buy from other eBayers with my MP balance as I can with PP.  This is a stupid decision on eBay's part, since most sellers are also buyers (although few buyers are sellers).

I am concerned that I can only attach one bank account to a MP account. No more joint PP account with money directed appropriately by the account holders. EBay may have underestimated how many "family" PP accounts are in use.

I am even more concerned that the one and only bank account I can attach MUST be Canadian. This means that when I sell something in US dollars, I MUST deposit it in a Canadian dollar account in a Canadian bank.
PP allows me to have both a Canadian and an American bank account. The American account is used to buy from US sellers -- not just eBay sellers  since PP is widely used by other online sites including theatres, small bookstores, flower shops, clothing stores, and conventions.

With my American account, I can even move US dollars to my Canadian US dollar account paying only one set of exchange fees.

With MP all my US dollar sales will have to be deposited in my Canadian dollar account paying exchange, and if I then want to move it to my Canadian US dollar account, I have to pay more exchange. EBay doesn't even benefit from this.

So.

I'm a hold out.

I have two active accounts that take PP and can move product to my other accounts which are still on PP fairly quickly if pushed.

But I am basically a hobby seller, your mileage may vary.

[g1v2d3]

Hi

I have decided not to sign up for Managed payments because of the problems but also because there is no way Ebay will have acces to my Bank Accounts.

Today ebay informed me that I will no longer be able to list, revise etc. because I have not signed up for managed payments. I have been a Ebay seller since 2003 and do quite a large business with Ebay. I have now moved my Inventory to Bonanza.com because they are more seller friendly and have far less fees. Ebay does have more buyers and more sales but at what price. I am aliitle taken back that Ebay is forcing this on sellers. They must have big gains for there company to allow sellers to leave there platform. I wonder how many closed accounts it will take for them to realise that mayby they need to rethink there forcefulness.  I also wonder now that if Ebay will no longer charge fora  Store Account as well as Fees becuase they will no longer allow the seller to list items etc. I doubt that will happen. I once talked to a seller agent who fixed one of my problems and send to me "We are here for you". I now believe that is not the case and Ebay is only there for themselves.

I am Hoping Ebay will change there mind and allow sellers to keep the platform they have with Paypal as there paying agent.

Here`s hoping.

All the Best.

g1v2d3

[ut.babe]

My biggest concerns here is when buyers have a complaint or an issue and ebay decides to give them a refund.  The "FAQS" talk about taking the refund from my 'available funds' and if there isn't enough there, it charges the difference to my credit card on file.  But where are the 'available funds'?  My bank account?  Will ebay be able to refund a buyer from my bank account?  And if not from there, and payments get deposited to my bank account directly as they say, then where are these 'available funds' held?  I have been very happy with Paypal for many years.  I don't mind their fees.  I'm not happy with putting my bank information with yet another online company.  If this is indeed mandatory then I'll just stop selling on ebay, that's all.  I don't like being forced into a corner just because they want to collect more fees.

[laptopsrenewed]

There bypassing PayPal and paying directly to your bank. Of course the final value fee goes from 10% to 12.35% and those fees come off immediately no more monthly invoices. I wonder how disputes will be handled and how much time it takes to get paid. 

[pjcdn2005]

Yes the final value fee changes but there is no 2.9% Paypal fee.

[jazzywazzyaaron]

I would think they would wait till the Covid 19 was under control before instituting this new\policy.

[esclyons]

Have you received an invitation, you will be notified when you have to flip over to managed payments.. They will give you a date that you must enroll by, otherwise they will stop you from listing new items..  From what i hear, it is supposed to be around the same amount of fees, and they do take much longer to receive, than what we are used to with PayPal..   other than that, someone else will be along with more help for you.

[femmefan1946]

And of course, some seller are not allowed to sign up, because Managed Payments cannot process payments for their products.