Adyen Ebay and PayPal

[online-treasure-box]

I dont trust ebay when it comes to money  They believe that the buyers dont lie, cheat or steal. Now that ebay wants to switch to Adyen... I'm very sceptical of the reasons. PayPal has been good to ebay sellers. They are compassionate and understand that these buyers are here for a financial gain. Now that ebay wants to use Adyen platform. It seems to me that ebay is tired of making up the difference to croupt buyers that PayPal didnt give back their money. Ebay says this is going to bring more inhouse process. But if  they are going to use Adyen.... that's not inhouse. Another side step and lie by ebay. I'm not going to switch over and give some company from another country my personal information.  Adyen is in Amsterdam and I dont know how they govern their money. I sure dont want to be hiding my money from the US government. Why are we moving from a US based platform to a foreign country is beholden me. I have been slowly backing away from ebay. There isnt any money to be made here. They give back to much money to croupt buyers and that takes alot away from any profits. If you sell 5000 a month and you owe ebay 650 and paypal 350 and the shipping partner 1000. You are left with 3000 to buy wears. I spend 1800 a month on wears. So now I'm making 1200 (right) and if ebay gives 2 croupt buyers back their money and shipping. That is usually 400 to 600 dollars lost. Now giving Ebay more control over your money.... but it's still out of house. That's no bueno to me. I'd rather sell things for less and at the drive-in on the weekends then help a company that we all know doesnt care about me to begin with

[dhbookds]

A little history here......

Ebay bought Paypal early 2000's......and ran it along side the selling market place until 2015....when they sold it because it had become such a valuable asset........ They bought paypal because it was pretty obvious that money was to be made on being able to handle customer payments as well as to convenience buyers with on line payments instead of relying on cash/checks with the delays and problems with snail mailing those.  They and stockholders got stock in the new Paypal in 2015 with the assurance that ebay would continue to use Paypal until 2020.    So ebay had complete control of paypal until 2015 and obviously ran it well.  Although I would point out in the early years there were many sellers and buyers "leaving ebay" because of no longer being able to take cash/checks.  Boards used to have several posts a week about how much people "hated" Paypal. 

At the time of the split, it was understood that ebay would begin to handle the payments on ebay themselves. 
As when they bought Paypal, ebay realized the money to be made by providing their own payment methods.....rather than pay someone else, like the now independent paypal.  They chose Ayden to actually handle the transactions, I'm sure based on Ayden's proven track record with other companies....... Etsy, Facebook, Uber, Microsoft, Dunkin Donuts and more.  This transition has not been terribly smooth, but neither was the one TO paypal.   As to Ayden being overseas, I'm sure part of the search for a payment processor was for one that could handle overseas transactions.....because Ebay has overseas business themselves and needs a payment company who can handle that.

I'm sure a number of people will leave because of the change........because they leave with any change.....  But recognizing that ebay has had control of your money for many years should be understood, if that's the reason people are using to leave. 

[mam98031]

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@eaux-de-vie wrote:

Well, if you SELL enough to consider it a business and they require quite a high balance that has NOTHING To do with your savings (because I had $$$$ in my Suntrust savings, dipt below $1500 one day in my checking and that was $25. This is insanity! Are they going to be taking money from checking every time I print a label. I have not seen the fine print on this. We really need 10 page long BANK STATEMENTS for the $250 or so I actyally make each month? 

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@mcdougle4248 

You want to take this highlighted concern above.  It is my understanding that it comes out of MP.  But please correct me if I'm wrong.

[mam98031]

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@chapeau-noir wrote:

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@yuzuha wrote:

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@corvettestainless wrote:

Open a separate checking acct. with your bank for this 'business' and it's all good.

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It truly amazes me how many people claim to be running a business and yet haven't done this.

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::guilty::   (there's no blushing emoji)

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Oh I haven't either but it has never in my 20 years presented a problem for me.  My business records or kept in a clear concise way, so it just isn't an issue.  My bank account only takes the deposits anyway.  Any bills I pay with my credit card for my business.  I love them cash back bonuses.  They are my Christmas fund.

However for MP I think I will open a new account specifically for MP, however I do not intend to open a business account, just another personal one.

[mam98031]

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@readabouthorses wrote:

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@southern*sweet*tea wrote:

If you're a seller, Paypal is NOT your friend.

Ebay should have gone to in-house processing a decade ago instead of investing time and money into a digital wallet.

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If eBay was so good at managing payments then Billpoint would not have failed. Hope they learned from any mistakes they made from that venture (it still owes me some money).

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Is your level of experience the same today as it was over a decade ago when Billpoint was around?  I would certainly hope not.

[chapeau-noir]

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@mam98031 wrote:

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@eaux-de-vie wrote:

Well, if you SELL enough to consider it a business and they require quite a high balance that has NOTHING To do with your savings (because I had $$$$ in my Suntrust savings, dipt below $1500 one day in my checking and that was $25. This is insanity! Are they going to be taking money from checking every time I print a label. I have not seen the fine print on this. We really need 10 page long BANK STATEMENTS for the $250 or so I actyally make each month? 

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@mcdougle4248 

You want to take this highlighted concern above.  It is my understanding that it comes out of MP.  But please correct me if I'm wrong.

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You can pay for labels from pending payouts:  https://pages.ebay.com/seller-center/service-and-payments/managed-payments-on-ebay.html

[disneyshopper]

I have 3 checking accounts, and none of them have any fees.

All of my MP payments went to my federal credit union, but I recently switched to my Bank of America account to see if the payouts processed any faster.

[chapeau-noir]

If my finances were as they were 10 years ago I would open a separate account for MP (might still if it gets complicated).  As it stands now, they're so simple that my personal checking account IS mostly for business.  I'm too absent-minded with money to have to keep track of any more than one checking account and investments - I barely know what's in my pockets from day to day.  I don't even use credit except for an emergency and to pay eBay fees (and I'll be glad to get rid of that use of credit with MP). 

But, as I say, I'll  play it by ear.

[mcdougle4248]

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@mam98031 wrote:

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@eaux-de-vie wrote:

Well, if you SELL enough to consider it a business and they require quite a high balance that has NOTHING To do with your savings (because I had $$$$ in my Suntrust savings, dipt below $1500 one day in my checking and that was $25. This is insanity! Are they going to be taking money from checking every time I print a label. I have not seen the fine print on this. We really need 10 page long BANK STATEMENTS for the $250 or so I actyally make each month? 

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@mcdougle4248 

You want to take this highlighted concern above.  It is my understanding that it comes out of MP.  But please correct me if I'm wrong.

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Sellers in MP are able to choose to pay for shipping labels with MP funds or through PayPal.