June 3 2020 Weekly Chat - Managed Payments

[tyler@ebay]

Hi everyone - 

The chat this week is targeted specifically at managed payments. I was lucky to get an expert arranged to address questions. Please leave your payments related questions below and they'll work on getting you answers* tomorrow. 

Thanks, 

Tyler

*Disclaimer here that there may be some questions that they aren't able to address, so not all questions may get an answer. 

[simeovivia0]

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@ricarmic wrote:

Hi Tyler et al!

Mine is the often repeated one:

I sell on both .COM and .CA

(note that mine is a .COM store because it is "ancient")

I want to have:

US$ payments directed to my US bank account (I will need to know if it has to be a US Bank or a Canadian bank - I personally have both but most people likely do not)

C$ payments directed to my $C bank account.

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Hi @ricarmic , 

It is possible to receive payments in both currencies if you have two selling accounts: one registered on .com (for USD) and the other registered on .ca (for CAD). That said, we realize that it is important for Canadian sellers to accept multiple currencies with one account. Rest assured, we’re working on it and will provide you with updates then they’re available. If your business has significant sales on eBay.com, you aren’t required to register at this time. 

[simeovivia0]

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@mandicrafts wrote:

Hi Tyler (again)
I want the ability, to pay my eBay invoice on my Credit Card as I do automatically, now. I understand the FVF/transaction fee for a sale will be taken out of the sale funds, but all the other charges (store, listing fees, etc) I want to be able to pay via Credit Card.
With having an Anchor, my invoices from eBay can be quite expensive and I do not want funds to come out of my Bank Account (or pay pal)!!!! And I want my Credit Card points. 🙂
Thanks Mandy

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HI @mandicrafts

It was great talking with you about these concerns the other day! The answers haven’t changed, but feel free to drop me a line if you need more context.

[simeovivia0]

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@tryubik-useonlyasdirected wrote:

Is it possible to have .com and .ca USD payments transferred as USD into a bank account located in Canada? My bank account can handle US funds without a conversion.

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Hi @tryubik-useonlyasdirected

At this time, eBay.ca transactions will be in Canadian dollars. We’re aware of our sellers wanting to accept USD and are working on it. We’ll keep you informed as things progress.

[simeovivia0]

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@pjcdn2005 wrote:

The statement below is from the US MP program but I want to know if and how it applies to Canadian MP sellers.

If your registered address is in the US, when a buyer purchases your item in a currency other than your payout currency, eBay will convert the funds to your payout currency using a "transaction exchange rate" we set for the currency exchange. The transaction exchange rate is adjusted regularly and includes a currency conversion charge of 3% applied on a base exchange rate. The base exchange rate is based on rates within the wholesale currency markets on the conversion day or the prior business day; or, if required by law or regulation, set at the relevant government reference rate(s). The currency conversion charge will be automatically deducted from your sales. 

If I am reading it correctly, it says that when US sellers have an international buyer who originally pay in another currency, the amount is changed into US dollars and the seller will  be charged  a 3% conversion fee.   

Currently, all conversion fees are paid by the buyer, not the seller.

Is there a similar rule for Canadian sellers?  For example, if a Canadian seller lists on .ca and a US  buyer pays for their purchase in $US which than gets changed to the listing currency $C, will the seller be paying a 3% conversion fee or will the buyer be paying it as they do now?    

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Hi @pjcdn2005

Yes, a similar rule applies to Canadian sellers but let me explain how it works in practice. If you are Canadian, list on .ca, and sell to a US buyer, you only pay the international fee. We’ve discounted this rate for Canadian sellers compared to other payment processors. If you are Canadian, list on .com with your Canadian account and sell to a US buyer, you would pay the international fee and the currency conversion fee. Keep in mind that If you do significant volume on the .com site, you are not required to register at this time.

[simeovivia0]

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@pjcdn2005 wrote:

When we have an international sale we currently pay fvf on the lowest domestic shipping, not on the international shipping that the buyer paid.  Will this change in MP?

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Hi @pjcdn2005

Answering this question separately... No, this will not change under managed payments.

[simeovivia0]

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@momcqueen wrote:

Good morning,

 Long time, no speak. I came to talk to you about another problem but I see this Weekly Chat is for Managed Payment questions only so I will abide by that and ask mine: how long will it take buyer payments to be deposited into my bank account? Currently, I see funds deposited in my bank account same-day with PayPal if withdrawn before noon CST. Can ebay promise the same with Managed Payments and, if not, why not?

Thanks. My other problem will come to your inbox.

I hope you are well. 

Maureen 

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Hi @momcqueen

Within 2 days, regardless of the payment method. We aim to pay you as quickly as possible, but are dependent on the credit card brands and banks for payout processing and timely funds settlement.

[simeovivia0]

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@tryubik-useonlyasdirected wrote:

@pjcdn2005Whoa, pardon? I'm not sure I understand that. Was this to what you were referring @lotzofuniquegoodies?

Currently we use USD as a standard, because our buyers are predominantly American. USD sales go into PayPal in USD. Then the funds get converted only when it is withdrawn from PayPal at the standard bank procedure > a slightly elevated XE (ie. 1.345 rate may be 1.354) inclusive of a small flat rate fee, $0.30 or whatever it is these days.

Buyers often ask to pay in CAD and we relist the item for them in CAD to help facilitate the procedure. USD sales go into PayPal in USD and CAD sales go into PayPal as CAD. Can we choose the preferred currency for each listing?

If a Canadian buyers pays in USD by credit card they are going to be charged for the conversion so the funds would come into the seller account as USD so there should be no conversion fee, yes? Same with if the funds come through PayPal etc. as PayPal does the conversion. Will we still be able to use our own Merchant Payment Gateways? As in pay on pick-up or other?

Our .com eBay fees are paid in USD from PayPal and our .ca fees are paid in CAD from PayPal. Can we have a a bank account for .com and a separate bank account for .ca? As in US funds account for one and CA funds account for the other? Can we choose how our payment is made? Can we still use a CC or other source?

Again, I ask with MP can a Canadian seller list on .com in US as we do now and bring the funds into our accounts in the same US currency? Can we bring US funds into a US PayPal? And can we pay our Store and FVF fees in the same manner.

@reallynicestampsits a special US Currency Bank Account to handle only US currency, they are likely available at most institutions. They are available at both our local credit unions with minimal to no charges. Credit Unions are the best.

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Hi @tryubik-useonlyasdirected

Just wanted to clarify a bit here. Your listings will be in Canadian currency as they are today. You will still be able to use your own merchant payment gateways (offline payment methods). We’re working on a solution for our sellers to accept USD and will keep you informed as things progress. Final value fees will be netted at the time of sale and monthly fees such as store subscriptions can be paid as they are today.

[simeovivia0]

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@figgfamily wrote:
Hi Tyler!

I am also hoping we'll be able to transfer to our PP accounts and ship through there.

I'm also not comfortable supplying my SIN number, so hopefully that's not something we're going to have to do?

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Hi @figgfamily

We require a chequing account to accept payouts but how you manage your money beyond that is up to you. SIN is an optional field in the registration process but increases the likelihood of you passing our customer checks. If you don’t choose to include it, please make sure that all of your other information is correct.

[simeovivia0]

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@2nd-time-around-jewelry wrote:

HI Tyler, Could someone clarify how this Managed Payments will affect printing labels through PayPal? I use PayPal to print & pay for all my labels. Also all my tracked parcels have the tracking number automatically uploaded from PayPal to the eBay lisitng. Will that still work or will we need to manually put in the tracking number & that the item is sent? Thanks

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Hi @2nd-time-around-jewelry,

How you print labels with PayPal should not change including the pass through of information such as tracking number.

[simeovivia0]

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@lotzofuniquegoodies wrote:

Hello Tyler,

A 2 parter. Just to clarify when Managed Payments is rolled out will sellers be able to hold off shipping until payment is received/cleared in their bank account or will they have to ship as soon as it shows "awaiting shipment" as per dot com info? How will Shippo be interfaced with Managed Payments.

-Lotz

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Hi @lotzofuniquegoodies

We ask that sellers ship the item to the buyer once the order shows as awaiting shipment. You may continue to use Shippo as you do today. There won’t be any changes to the current experience.

[simeovivia0]

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@reallynicestamps wrote:

Under managed payments, in cases where there is a Dispute, how long does the buyer have to open a Dispute?

At the moment, eBay allows 30 days from delivery.

Paypal allows 180 days from payment.

If a buyer opens a dispute through PP, how is it managed if the seller does not have a PP account?

Same goes for credit card chargebacks, which have been a pain in the bedonkadonk for years through PP.

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Hi @reallynicestamps

The same is true for managed payments and PayPal.  Chargeback rules vary - ex: Amex is one year. Sellers will now work with eBay directly and we will fight on your behalf with the relevant financial institution. Buyers will not be able to use more than one resolution method to get a refund and additional claims will be closed automatically. All disputes (including chargebacks) will be managed on eBay through our Resolution Centre.