Ebay's new mandatory "managed payments" system... (1 Viewer)

mikemiller1955

mikemiller1955

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I got a message from Ebay tonight...

saying I MUST register by July 15th for their new "managed payouts" program or else I can no longer create listings on Ebay...

they are phasing out Paypal and taking over that part of the buying/selling experience...

Ebay will now handle the sales transaction and will direct deposit into your checking account only...
I think they offer options for daily or weekly payouts to your checking account...

I just got off the phone with them and was told their contract with Paypal was expiring and they were leaving them...
perhaps the new contract has unfavorable terms or else Ebay just wants the commission fees on money exchanging...

Paypal charged 2.9% fees on all monies via Ebay + 30 cents per transaction...
Ebay will charge 2.7% fees on all monies via Ebay + 30 cents per transaction...
a little lower...but possibly an accounting nightmare for big sellers...

Paypal is still available for any sales not originated on Ebay...

I prefer working with Paypal as I'm accustomed to it but their representative told me the change is mandatory if I want to continue to list as a seller...

their representative could not elaborate clear to me on how the International currency exchange fees on foreign money collected would work...but I'm guessing my bank could be considerably higher than Paypal's fees on that...

who knows?
 
I probably won't be buying off ebay anymore as I use paypal and like paypal.
Mark
 
Mark...

I don't think it's gonna effect the buyer too much...
mostly the seller...
they will debit the buyer's checking account when they purchase something on Ebay now...
instead of debiting your Paypal account...

your Paypal is still good for buying anywhere else just like it used to...
just not on Ebay...

it's the seller that has these changes...
and even that won't be too bad for the casual seller.....

for a big seller that requires a lot of book keeping
it might be something to get acclimated to...

Ebay should supply them with another 1099...
if they surpass the IRS's threshold on income...

I'm curious what they will charge to convert foreign currency on International purchases...
 
Seems pretty similar to me just avoids the middle man.
Now PayPal pulls from my checking then to eBay then to seller
New will be eBay pull from checking to seller.
 
Paypal will still be an option to pay on ebay, however, it will not be the main processor. In other words, the buyer will still have all of the options.

What is changing is how the seller pays ebay. It used to be in monthly invoicing, now it will be at the transaction. In other words, sellers will get the actual net payment less all fees at time of purchase instead of once per month. Additionally, seller, will have the option to sweep their account daily for net revenues.

End of day this will hurt paypal but that is life.

TD
 
Tom...

this is not the way it was explained to me...

the representative told me they are completely phasing out Paypal...
their contract with Paypal is expiring and they are not renewing...

he also said I will have no options in the future to use Paypal as receiving payment on Ebay...
they are going to quit Paypal completely...
and if I don't swap over to their new "managed payment" program...
I won't be able to list as a seller...

can you send a link to where it says Paypal will still be an option?
 
Brad...

thanks for that link...
I swear...every time I talk to an Ebay representative...
I get a different story on what this is...

below is the Ebay message I got yesterday...
saying I would not be able to list if I didn't register...

it's starting to sound like a promo with the $50 incentive to leave Paypal...
but then again...
it say's if I don't register...
I won't be able to list...

[FONT=&quot]
Hi mikemiller1955,

Your account is scheduled to be enabled for managed payments in late July, and you must register by July 15[SUP]th[/SUP] or the ability to create new listings will be interrupted. You only have one week left to register.

As a special offer for Independence Day we’d like to give you a $50 invoice credit when you register for managed payments by July 10[SUP]th[/SUP].[/FONT]​
​
[FONT=&quot]
Register now – it’s simple:

1.Verify your information
2.Provide a checking account
3.Don’t miss a beat and keep selling!
[/FONT]​
​
[FONT=&quot]
Register now[/FONT]​
​
 
just got off the phone with an Ebay's "managed payment" supervisor...

apparently this has been going on since last September and he claimed 8% of Ebay's sellers were already currently enrolled...

this is now being phased in slowly as Ebay's contract with Paypal is expiring in 2 weeks...

he said my account was randomly selected in the first group...

Paypal will remain an option for payment for buyers/sellers...

if Paypal is the choice for a seller...
Ebay will collect the monies and transfer to the seller's checking account...

transfer of sales can be set up for your checking account either daily or once a week...
he cautioned me that there may be a 3-4 day waiting period in some cases for monies to clear...

he claimed the fee of 2.7% will drop another 1/2 point in the future...

as I read him the email I read listed below...he laughingly described it as an aggressive invitation...
when I pushed the issue with him...
he assured me...that if I didn't accept it...I could no longer list items...

it really doesn't sound so bad...especially for a seller like me that stays under $20,000 and 200 items...
and Ebay will issue their own 1099's if you pass the IRS's criteria for one...

it may be a more difficult for large volume sellers...just learning the book keeping system and juggling monies back to their accounts...

I don't see it affecting buyers at all...
 
I haven't gotten that email.

I worry about it when the time comes, I'm dealing with enough nonsensical bullshit right now as it is.

If it's not one thing (tariffs, DHL/UPS/FED EX/USPS shipping rates going through the roof, universal internet sales tax), it's another (Ebay ****ing with a perfectly good system, ie, IF IT AIN'T BROKE, DON'T FIX IT!!).


I'd love nothing more than to move my Ebay sales to another selling platform, but the problem is there's nothing out there that is remotely close.

And they know it, so they keep ****ing with things to annoy sellers, not sure why, makes no sense, I also saw some email from them about they are going to change the way you list things, some sort of upgrade, ALL of my listings will be subject to it, so I'll have to edit north of 1K listings.

Oh sure, I've got nothing better to do than edit 1,000 listings.

They really do suck.
 
I have been a mostly small time seller/buyer on ebay for twenty years. During that time they have only become worse. Last five years or so, I would switch in an instant to another source if such existed. I actually am exploring other options. Haven't bothered to list anything in the last eight months. The same can be said of paypal. I would much prefer another service, but again, there isn't anything comparable out there. I'm sure that paypal and ebay buy up any likely competitors, like Standard Oil back in the bad old days. I have a lot of sympathy for you big sellers stuck with ebay.
 
I just received a notice from eBay that I have to add a bank account by December 31 because net sales (after deductions for fees and expenses) will go directly to my bank account, not PayPal. Can’t say I’m thrilled about this as I use my sales that I leave in PayPal account to pay for things I purchase where PayPal is the method of payment. I will now have to have PayPal pull the funds from my checking amount. A bit annoying.

I’m guessing that all sellers have not been complying as they offered me $15 to do it.
 
jazzeum said:
I just received a notice from eBay that I have to add a bank account by December 31 because net sales (after deductions for fees and expenses) will go directly to my bank account, not PayPal. Can’t say I’m thrilled about this as I use my sales that I leave in PayPal account to pay for things I purchase where PayPal is the method of payment. I will now have to have PayPal pull the funds from my checking amount. A bit annoying.

I’m guessing that all sellers have not been complying as they offered me $15 to do it.
Click to expand...

Brad,
I know I went on a rant earlier about this, but I complied with this about a month ago and it's no big deal.

My Paypal account is linked to a checking account, not a credit card, so all I did was provide them with that account number and now what happens is you no longer get a notification from Paypal that a transaction has gone through, you get one from Ebay, I choice daily as far as when I want the funds deposited from my sales into my checking account and it's been really smooth.

You really don't have a choice about this near as I can tell but again, it's been pretty smooth with no real issues, they send me a notification each day that funds have been deposited into the account.

It's really a big nothingburger.
 
Can't you open a bank account named "PayPal" and have PP deposit the money there?

Bosun Al
 
Al Fisher said:
Can't you open a bank account named "PayPal" and have PP deposit the money there?

Bosun Al
Click to expand...

You could create a brand new account just for that; Paypal doesn't deposit the money, Ebay does.

Ebay now manages the payouts, not Paypal.
 
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