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eBay Managed Payments


wildcat123

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wildcat123

I’ve been caught in the eBay web to start the Managed Payment Program at the end of the month.  Anyone using it already?  Advice?  
 

I’m a hobby seller, sell for a few friends and sell to feed the beast.  it looks like I will need a dedicated account for the regular disbursements (as I don’t want my weekly $5 in sales disappearing into my regular bank account).  Can I just link that account to both PayPal and eBay to complete the circle?  
 

I'm all ears if anyone has advice, thanks in advance.

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Fixbayonets!

I am in the process of this as well and I believe it has to be linked to a checking account.

 

Rob

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vintageproductions

Have had to change over two of our seller names and fighting with Ebay on our third one.

 

From the way I understand it now you have to use a checking account, and either everyday or once a week they will send all you money to your account. Plus they will take out their fees right away before it is sent to your account, this way you don't get hit with a bill once a month.

 

Ebay will now accept numerous different payment options instead of just Paypal.

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wildcat123

Thanks guys for the input!  Sounds like we are all going through this.  I think I can handle it except not being able to dump my money back on new purchases right away...

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vintageproductions

That's my only complaint to.

 

If I keep money in Paypal I will buy more, but once it goes in my checking account, I am less likely to spend it.

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I guess I am odd man out, this is the first I heard of this. I like keeping money in my PP account, I really don't get this.

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Fixbayonets!

Not everyone is required to register for this just yet.  You will get notifications from ebay when your time comes.

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They're bullying me, too. My hobby fund my hobby, so going straight to my PayPal was convenient. I think this just has to do with the fact that eBay and PayPal split awhile back

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easterneagle87

So as long as I use PayPal they'll just dump the $ there. On the other hand … If someone pays by another source, then this money will go into my attached checking account? 

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vintageproductions

I don't think that is true.

 

All payments go straight to your checking account, nothing to Paypal.

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manayunkman

I like the fact that they take out their payment.

 

This once a month stuff can be large if you don’t budget wisely.

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Another tip... make sure whatever bank account you attach is in your name as primary (and not your spouse).   Sigh😂

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williamsmilitaryrelics

Hi Guys

I've been enrolled with eBay managed payments since day one ,months ago if not a year ago already.. I've received an " Offer " amount a panel of selected sellers, to do the try out and according to them, you could opt out at anytime until you couldn't ... and I was stuck for good.

At first it was a serious mess.. really bad ! but today it is kinda much better, they've just released the statements option who is quiet well made now and they did a lot of improvements.

I'm just going to skip the horror story of the beginning of this system and try to explain without going unto crazy details how it works today.

To make it simple, you will have some kind of an internal eBay " deposit " bank account ( but you won't be able to buy or do anything outside eBay with it except the eBay shipping labels ) and this account will have to be linked to your personal or business bank account.

so, when someone buy something, the amount will show up in your eBay " deposit " account as " Pending funds " and will remain pending for an " Obscure " amount of time ! I can't give any specifics since I've still not yet figured that out why or how this time is calculated, one think for sure, it will definitively remain pending until you ship the item and / or the customer receive it.

 

You will not be able to know how to customer paid for his item ( just in case you are wondering ), any method they will use will not be disclosed to you, if they pay with PayPal, no  more PayPal direct deposit, it will be posted to your eBay " deposit " acct, so ultimately, your PayPal account will dry out..fast !. you will have to change, in case you're having PayPal setup for that, the way you are paying your eBay monthly fees by switching to your bank account.

 

Once the money becomes " Available funds " it will accumulate and will be transferred weekly on Tuesday ( in my case ) to your personal or business linked bank account, you'll have the option to change that to manually or daily if you want to.

Like I said, I'm using this system for almost a year now and I'm used to it, we new back then that when the system will be ready every sellers will have to use it, now eBay is moving forward to get everyone on board by July 15th.

The bad side is that if your are tight on cash flow, this system won't be very friendly since you won't get your money right away.

I can answer more specific questions if needed, I'm not working for eBay but I know what you will be facing soon and I can see the anger and frustration coming !!

Will

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6 minutes ago, williamsmilitaryrelics said:

Hi Guys

I've been enrolled with eBay managed payments since day one ,months ago if not a year ago already.. I've received an " Offer " amount a panel of selected sellers, to do the try out and according to them, you could opt out at anytime until you couldn't ... and I was stuck for good.

At first it was a serious mess.. really bad ! but today it is kinda much better, they've just released the statements option who is quiet well made now and they did a lot of improvements.

I'm just going to skip the horror story of the beginning of this system and try to explain without going unto crazy details how it works today.

To make it simple, you will have some kind of an internal eBay " deposit " bank account ( but you won't be able to buy or do anything outside eBay with it except the eBay shipping labels ) and this account will have to be linked to your personal or business bank account.

so, when someone buy something, the amount will show up in your eBay " deposit " account as " Pending funds " and will remain pending for an " Obscure " amount of time ! I can't give any specifics since I've still not yet figured that out why or how this time is calculated, one think for sure, it will definitively remain pending until you ship the item and / or the customer receive it.

 

You will not be able to know how to customer paid for his item ( just in case you are wondering ), any method they will use will not be disclosed to you, if they pay with PayPal, no  more PayPal direct deposit, it will be posted to your eBay " deposit " acct, so ultimately, your PayPal account will dry out..fast !. you will have to change, in case you're having PayPal setup for that, the way you are paying your eBay monthly fees by switching to your bank account.

 

Once the money becomes " Available funds " it will accumulate and will be transferred weekly on Tuesday ( in my case ) to your personal or business linked bank account, you'll have the option to change that to manually or daily if you want to.

Like I said, I'm using this system for almost a year now and I'm used to it, we new back then that when the system will be ready every sellers will have to use it, now eBay is moving forward to get everyone on board by July 15th.

The bad side is that if your are tight on cash flow, this system won't be very friendly since you won't get your money right away.

I can answer more specific questions if needed, I'm not working for eBay but I know what you will be facing soon and I can see the anger and frustration coming !!

Will

More eBay Bull...once I ship the item, it's not eBay's job to hold my money

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williamsmilitaryrelics
4 minutes ago, Brig said:

More eBay Bull...once I ship the item, it's not eBay's job to hold my money

  It will be now ! 😃, well if anyone had checked eBay 2019 financial analytics report ( I know, it's kinda creepy ! ) but they had to find a way to make their shareholders happy.. and they did !, if you are looking at their share prices for the past year and what just happened this month !! it's going up, eBay will get a lot of money on transaction fees. It's just business, we are just collateral contributors!  Haha !.

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So you can hold the money in your new eBay account and buy with it?  Honestly, that was the only piece I didn’t like (I’d read that the early days were awful but the kinks were getting worked out).

 

Thanks  so much for the explanation, I really appreciate it.

 

Tyler

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BILL THE PATCH

I just sold something on eBay, went to my PayPal account. I transferred it myself to my bank account. I guess I'm next?

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williamsmilitaryrelics
8 hours ago, wildcat123 said:

So you can hold the money in your new eBay account and buy with it?  Honestly, that was the only piece I didn’t like (I’d read that the early days were awful but the kinks were getting worked out).

 

Thanks  so much for the explanation, I really appreciate it.

 

Tyler

Yes you can hold the money for a month max and it will be transferred automatically but you can't buy anything ( yet ) except the eBay shipping labels. The reason is simple, eBay doesn't have an official " Bank " status and is not regulated the the FDIC... scary enough?

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July 15th!?!? Today is the 13th and I have yet to recieve a single notice from eBay about this! As a power seller, this is ludicrous!

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vintageproductions

Scott- I believe Ebay is staggering the turn over. I remember reading about it in Jan., but the didn't get to me until this month.

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I'm a power seller as well, but I haven't heard anything about the changeover for me. I assume it will happen at some point in the future...the inevitable... 

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