eBay's Managed Payments?

[Paladin]

I have been getting emails and messages from eBay and encouraging me to sign up for 'managed payments'.
Today's message makes it sound like it will be mandatory. There are fees involved so it may be just another money grab by eBay.
Anybody have a clue what this is all about?

Ray

[cudgee]

I have no idea!!! But, like you , very interested to hear from any members who do know what this is all about.

[XX Case XX]

I haven't heard anything about it. I'm on eBay almost every day and buy stuff frequently. I wonder if it only concerns people with an eBay store.

___________
Mike

[cody6268]

I think they were planning on phasing out PayPal in favor of "managed payments" in 2020. The buyer protections PayPal has probably means when PayPal goes, I go.

[just bob]

Dear Seller:

Our records indicate you have been previously invited to managed payments - eBay’s simplified seller experience to sell and get paid. Based on our review of your account, the features and tools you use on eBay are fully compatible with managed payments. To benefit from the new payments experience early, register at ebay.com/paymentsregistration. All eBay sellers will progressively be required to transition to managed payments in the coming months.

Managed payments offers more ways for buyers to pay with credit, debit and gift cards, Apple Pay, Google Pay, PayPal and PayPal Credit. Payouts will be automatically deposited to your bank account. Sellers receive consolidated reports, simplified seller protections, one monthly bill for all fees, and access to dedicated customer support. New features include a single unique number from order initiation to payout, and the ability to issue partial or full refunds to buyers, directly on eBay or via a third-party platform. Sellers who have already joined report high satisfaction and recommend managed payments to other sellers. To learn more about managed payments, visit ebay.com/payments.

Signing up now will allow you to choose the best time to join for your business, and avail of any existing promotions. These include the Summer Sign Up program available till August 31, 2019 and the $0 per listing payments fee through September 30, 2019. Please check your email account or Messages on My eBay for more details.

Register for managed payments at ebay.com/paymentsregistration.

[XX Case XX]

The buyer protections PayPal has probably means when PayPal goes, I go.

According to what I just read on a "Google" search, Pay-Pal will still be available for buyers/sellers to use at least until July 2023.

__________
Mike

[TripleF]

I have been getting emails and messages from eBay and encouraging me to sign up for 'managed payments'.
Today's message makes it sound like it will be mandatory. There are fees involved so it may be just another money grab by eBay.
Anybody have a clue what this is all about?

Ray

I haven't looked deep and am not going to because they seem so persistent....I'm like back down people, I got my own sheet!!
I have accidentally bought from people who have converted and you must use a credit card to pay.
99%of the time when I purchase on ebay I use the funds in my Paypal account or Paypal credit....I don't want it on my cc.

It's ebay making more money and being in charge of every step.....we'll see what happens....

[XX Case XX]

I have accidentally bought from people who have converted and you must use a credit card to pay.

I guess the next time I want to buy something on eBay, I'll have to make sure they accept Pay-Pal first. Thanks for the heads-up Scott. I didn't know some sellers had already changed over.

___________
Mike

[Sharpnshinyknives]

I remember a year or two ago when EBay announced their plans to diversify payments. eBay started Paypal and still owns a certain percentage of the stock. Since they spun Paypal off several years ago, they are going to make it possible to take other forms of payment than just Paypal, so it’s a good thing, since you as a seller don’t have to be signed up with all the card companies individually. eBay will facilitate the transactions for you and will direct the payments into whatever account you want.
I haven’t signed up yet just because I figured I would need to know routing numbers and account numbers for the payment to be made to my account and I don’t have them handy. It also sounds like they will also bill you once a month for fees and commissions.
I followed this story because I bought stock in Paypal when they spun it off and I follow the news around the stock. By the way, Paypal’s Stock has gone up over 400% since the spin off. This change from eBay was viewed as a threat to Paypal and the stock dipped briefly but recovered nicely.
Sorry for the overload of information.

[Lansky1]

I liked Paypal and hope as a seller, you can still request paypal ONLY as your means of payment (I doubt this will be an option as it would go against the whole point of the managed payment idea). Reason is it's a revolving knife fund for me - sell a few knives, pay for other knives using those profits via the paypal account. Mandating I accept eBay payments to my personal bank account means knife money will get mixed in with the usual bank account stuff - if they mandate that, I will probably have to open a dedicated eBay bank account - what a hassle...

[TripleF]

I liked Paypal and hope as a seller, you can still request paypal ONLY as your means of payment (I doubt this will be an option as it would go against the whole point of the managed payment idea). Reason is it's a revolving knife fund for me - sell a few knives, pay for other knives using those profits via the paypal account. Mandating I accept eBay payments to my personal bank account means knife money will get mixed in with the usual bank account stuff - if they mandate that, I will probably have to open a dedicated eBay bank account - what a hassle...

Ditto!!

[Paladin]

I liked Paypal and hope as a seller, you can still request paypal ONLY as your means of payment (I doubt this will be an option as it would go against the whole point of the managed payment idea). Reason is it's a revolving knife fund for me - sell a few knives, pay for other knives using those profits via the paypal account. Mandating I accept eBay payments to my personal bank account means knife money will get mixed in with the usual bank account stuff - if they mandate that, I will probably have to open a dedicated eBay bank account - what a hassle...

Ditto!!

And ditto!

Ray

[Lansky1]

I liked Paypal and hope as a seller, you can still request paypal ONLY as your means of payment (I doubt this will be an option as it would go against the whole point of the managed payment idea). Reason is it's a revolving knife fund for me - sell a few knives, pay for other knives using those profits via the paypal account. Mandating I accept eBay payments to my personal bank account means knife money will get mixed in with the usual bank account stuff - if they mandate that, I will probably have to open a dedicated eBay bank account - what a hassle...

Well, it's official ... Managed Payments went into effect for me on 5/28/21 - in the weeks leading up to that I listed a boatload of stuff & went out on top ... sold all the knives I didn't want to keep and capitalized on the last days of paypal as a seller. I will still use eBay occasionally as a buyer, but I will never use it again as a seller - this is coming from a long time ebayer (19 years, 1100+ positive feedbacks). I have no interest in opening up a dedicated checking account for eBay - I don't use it enough. Seems they're weeding out the hobbyist's like me who just used eBay for fun - favoring the serious eBay sellers who are willing to deal with using their private bank account for eBay payments. It's their sandbox, I get that ... but I won't play in it anymore. I wonder how many more like me there are out there - seems to me eBay just lost a whole lot of good sellers.

[just bob]

I griped and squawked about this as much as anyone else when this was first discussed. I think I am too old to enjoy changes and prefer they leave things alone. I love PayPal and agree with you that Ebay would much prefer to cater to Chinese box stores than mom and pop sellers., but you know what? The transition has been seamless and painless. I went to the bank and they set up a checking account for me in just a few minutes. Now my Ebay sales are deposited there. They do a good job of getting the money to you quickly. Also now instead of getting a big monthly bill from Ebay they take out your commission as you go and that is a good change as well. The hassle for me is that I still use my PayPal account to pay my Ebay postage with and so from time to time I must transfer money from the bank account to PayPal. I do this on line and it is also painless. I bet many don't know that the preferred payment process is still ongoing and isn't complete. To this day I can not sell coins or silver on Ebay listed in the correct category. PayPal had safeguards in place to monitor money laundering and currency manipulation and apparently Adyen is dragging their feet on this. I'm sure they're blaming in on Covid. Also I've only had a few returns and they have all been processed well and without a hassle. I think Adyen is also the payment processor for Uber or Lyft and got a lot of kinks out of their system before undertaking Ebay. It's not near as bad as we thought it was going to be. In some ways much better.

[Paladin]

My experience with the 'new' eBay process went smoothly. I did open a bank account for the proceeds of my eBay sales. Since I had no choice about the change up, I might as well be content with it. There are still some things I haven't figured out about it but I'm pretty much ok with it for now.
My current issue is that the IRS is changing the rules about reporting. Right now, a person can have 200 transactions AND $20,000 income before a 1099 is sent to the seller by eBay. Beginning January of 2022, anyone selling $600 or more gets a 1099 from eBay and I am guessing that might well apply to a person's AAPK store as well. This is life changing for me and I was going to have a 'fire sale' and get rid of everything. I have decided to set up an LLC and continue with my sales.

Ray

[edge213]

Just throwing this out there. There may be others like me.
I don't do PayPal, never have.
I have passed up many knives when I see PayPal only.

[Railsplitter]

The last time I sold something on Ebay was on 5/9/21. When I submitted my listing I got a message that I had to enroll in Managed Payments or I wouldn't get paid.

My item was listed for a little over $400 so I signed up so I could get paid. What I hated about the experience was that the money took 56 hours to hit my bank account. My shipping terms state that I ship in 1 business day so I had to ship the item before I got the money. The item went Out For Delivery in the buyer's home town on the same day his payment hit my bank account.

My fees for the transaction were a little over a dollar more than I would have had to pay the old way when Paypal and Ebay fees used to be combined.

[Working Edge]

Just throwing this out there. There may be others like me.
I don't do PayPal, never have.
I have passed up many knives when I see PayPal only.

Agreed.....I don't do paypal either.

I seriously doubt I would ever allow an internet entity to have access to any of my finances.

Too much potential for pirating, hacking and theft, and I don't trust ebay/paypal et al, at all.

Outside of a standard online retail store, if I'm going to buy or sell something, it's going to be in person, face-to-face and in cash.

Mark