Anyone see where eBay isnāt using PayPal anymore for Sellers. All sellers have to give eBay their bank accounts by 12/31. They are cutting out PayPal so sellers donāt have to forfeit the PayPal fees and all eBay fees are paid upfront per transaction- so no more monthly eBay fee payments- I like that part, but Iām not sure about the eBay having my bank account information. Nothing against eBay, Iām just hesitant to give out my bank info in general to anyone. I trust PayPal since Iāve used it for so long. Anyone else see this and what are your thoughts? Iād like someone to ease my mind about this so I keep selling on eBay.
Why do people keep saying youāll save on fees by getting rid of PP if you ho this route? The fees go to eBay now. Thatās it. Ebay will manage payments and the fees ho to them instead of PP.
EBay is doing this to simply add 3% per transaction to their revenue stream. Itās not illogical, but I really donāt like the idea.
I am debating not selling on eBay when I am forced to accept their āmanaged paymentsā platform.
I liked having eBay fee payments instead of them taking it upfront because I could pay with a credit card. Get those rewards points.
Anyways, I donāt trust eBay any less or more than Paypal, but the whole linking my bank account thing annoys me. I like eBay as a selling site but wish we had options to stay with PayPal or somehow have both.
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Whatās annoying me is I had to link a main checking account because the side account Iāve always used (for paypal and other sources) has my wife as the primary name, and Iām just on it. But for eBay that isnāt valid to prove that itās mine apparently.
So when did this eBay payments only come out? I donāt see an email about itā¦
This process started back in July 2020
Alright, I guess I can share my 2Ā¢. I have been an eBay member for 20+ years. Back in September, they told me about managed payments but I just ignored it. Then in October, they told me I HAVE to make the switch or I wouldnāt be allowed to make new listings. So, I begrudgingly accepted. When I asked my friends who also sell on eBay they said they got no such emails. One of them even tried to sign up but it wouldnāt let him. They said thank you for your interest but we are currently rolling out managed payments to our biggest and longtime members. So, for those who havenāt heard of it or donāt see an email that is probably why.
Now to my thoughts on managed payments. Itās kind of a mixed bag. I hate not having the money available right away. Once a purchase is made. It takes 2 days to go from pending to available. I have it set for daily payouts. So, after those 2 days, itās immediately sent to my bank. HOWEVER, the bank takes an additional day to āprocessā it. This amount of time could differ between banks and accounts, mine, a Chase account, takes one business day. Keep in mind, if the eBay payout lands on the weekend or the money is sent to your bank on a weekend, you wonāt get the funds into your account until Monday. I will admit, I do like them taking their fees immediately. It prevents you from having to pay a big balloon payment at the end of the month.
Onto the negative. Access to my bank. It should go without saying that any company with direct access to a personal bank account to just āsnatchā funds out willy nilly is a cause of contempt. If a buyer opens a case for a return they will IMMEDIATELY take funds from your āpendingā account. If your āpendingā account, terrible name by the way, can not cover it they take it from YOUR BANK ACCOUNT. If your bank account can not cover itā¦well you see where this is going. This is why I liked Paypal as kind of a middle man account to cover returns and make payments on eBay. Also, shipping an item while the money says āpendingā is nerve-racking.
Side note. If a buyer pays with Paypal that transaction and money NEVER shows up in my Paypal account. How does Paypal feel about this? I doubt Paypal would be all too excited to see they are being cut out of their ~4% from each transaction even when the buyer pays with Paypal. Did they know about this change? Wonāt they eventually catch on when a bunch of accounts suddenly cease getting transactions from eBay?
At the end of the day, I do have the freedom to not use eBay. But, itās kind of hard not too as the net you cast with an eBay listing is far above what could be reached with say OfferUp, Facebook Market, or Instagram. Those are other rabbit holes each with their own set of problems. Managed payments ARE cheaper but not by much. Unless you are doing regular transactions in the 1,000s of dollars range the average sell will save you anywhere from 15Ā¢ to 50Ā¢. Is it worth the negative trade-offs? Not sure yet, but at this point, I donāt have a choice.
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So Ebay has been around longer than Paypal. Did you really have a Paypal account before you had an Ebay account??? I remember when barely anyone had Paypal accounts and most of my payments were via check or money order. The only reason I ever got a Paypal account was because of Ebay. Without Ebay I donāt know I would have ever even made a Paypal account. I personally wouldnāt have a reason to have one without it being used for Ebay payments. Also, Ebay owned Paypal from 2002-2014 so essentially Ebay had your checking account info the entire time and you didnāt know it. lol
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Thank you for the reply. Iāve been a member since 2000, and have well over 1000 transactions. So I guess that didnāt qualify me.
Since many donāt leave feedback anymore, is there anyway to find out how many total purchases and sales Iāve actually had since joining? Aside from calling eBay, that is?
After a few sales I donāt wait for an invoiceā¦I pay eBay with my revenue from the sale and then I transfer the amount I originally paid for the item back into my regular checking. I do my best to only leave āprofitsā in my PayPal and use those profits to buy other comics (re-invest) or other personal āhobbyā items or supplies.
I might have to create a second bank account with my bank just for thisā¦and treat it ālikeā a PayPal account. Not linking my primary account to this if forced to go thereā¦no way no how no siree Bob.
You have to get to your seller dashboard. To do that click on your name where it says Hi Whatever! Then click account settings. Then under Selling click on Seller Dashboard and then you have to scroll all the way down to the bottom to see it
Thatās my issue exactly. With PayPal as soon as the buyer paid i was paid and had full access to the money. Even Using part of it to ship the item out. I donāt need to be waiting on anything. If eBay wants to take over doing what PayPal did it needs to be comparable. Itās not and Iām looking into selling elsewhere.
If you have no delays why did you only get paid once a week? If you have no delays why is there a pending funds account? When did the buyer pay and when did that money hit your checking or become fully available? If the moneys not there and available when the buyer pays thereās a delay.
If the money from a sale isnāt immediately available Iām out. Itās that simple. They have the ability to make it seamless and keep the timeframes identical but choose not too. Christ eBay bought PayPal in the early 2000ās and separated more recently.
And yes if you do a quick transfer of your PayPal balance to your debit thereās a whopping 1% fee that eBay will be saving us. Iām curious if while those funds are processing is eBay accumulating interest on those? Make sense if so.
I chose to get payouts weekly. You can choose daily or weekly.
Money in pending can be used to pay for shipping or you can pay with paypal or whatever account you want to use to pay for shipping.
Money in pending usually changes to available within 24 hours.
So as I stated I chose weekly payouts. I just changed to daily though so we will see when todays payout hits my checking account. I assume it will be tomorrow. My payout day was every Tuesday. My last payment included money from buyers that paid on Sunday the 8th. Ebay advised me they sent my payout on the Tuesday the 10th and the money was in my account on the 10th.
I would at least try it out before you make any decisions but thatās just me. I have not had any problems with it since I switched to it in August. The only real difference is that you donāt manually transfer the money to your checking account like with Paypal. You just choose your payout frequency and they transfer it.
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Thanks for taking the time to clear that up and answer my questions.
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If this is the route that eBay is taking, Iām going to have to shut it down. Iāll start using comicfind.net to sell my items. Only reason why I sell on eBay is to use that PayPal money to buy books from other websites. PayPal is excepted everywhere and is that side money that doesnāt interlock with my bank money.
Itās pretty awful. Iām used to shipping the item out of the available funds from the sale. Iām used to shipping the same day as payment is made. I say 2 business days but they go out immediately in most cases.
Iām not doing this nonsense anymore. If PayPal who used to be owned by eBay can make the funds immediately available then eBay can do the same. Iām not waiting a minimum of 2 days to get my money. Meanwhile ebays already gotten there cut immediately while we the people who make them successful have to wait.
So all my stuffs coming down Iām no longer buying or selling on eBay until they fix this b@llshit. Itāll be a week before Iām done as Iām bidding on items. I demand and require my money be available to me as soon as a person pays. Like they donāt have the ability but are a bunch of cheap pos. I suggest others do the same.
Honestly you canāt contact eBay support about managed payments. I think thereās a reason for that. I think people are accustomed to having their money available as soon as the items paid for and eBay got slammed with angry sellers. I just needed to vent.
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Yeah, the difference between eBay payments now and Paypal is, Paypal can be used virtually anywhere to buy stuff. So yes, the money is available immediately in the sense I can buy things using paypal anywhere. With eBay payments, I canāt use the funds outside of eBay until they transfer to my bank account.
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I know I used most of those funds to buy new books off eBay so there getting there money from both ends. Now with a deist and it going into checking people maybe less likely to do that.
But PayPal also gave you the option to transfer it immediately for a 1% fee. So it could be cash in hand all in the same day.
You canāt even use the eBay āpendingā account to purchase stuff on eBay, so strange. I would at least cut them some slack if that were the case but sadly itās not. You can only pay for postage to ship the item, then you have to wait for the rest to clear to your bank. Ultimately, for me, itās not the end of the world but it is just another hoop you have to jump through.
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