eBay managing payments

[mrrufusandmsladya]

I have not signed up for this yet, not real sure I like the idea that ebay has access to my bank account.

If ebay is going to send the money to my bank account, every 2-4 days...the amount of transactions 

into my bank account can add up really fast if sales ever pick up.

What happens when you have a return, does the money come out of your bank account

or does ebay pay for it then take the amount off what they have to send you in sales??

Pros and Cons from anybody using this would be helpful.

Thank....

Happy Selling & Buying.

[goodluckselling]

Right now you have to invited and or approved so if you have not gotten this info from eBay yet you will have to ask to be included in the new program.

eBay has said the payments will settle out every day not every 2 or 3 days.  It might take up to 2 or 3 days for the transfer to complete.  That will depend on how quickly your banking company can handle the transfers.

Here is a link to lots of info on this.  Please read through the FAQ at the bottom.  Lots of info in that area

https://pages.ebay.com/seller-center/service-and-payments/managed-payments-on-ebay.html#faqs

Good Luck Selling!

[divwido]

every two to three days.  That's the part that worries me.  And where is the fine print that gives them the right to make it twelve to thirteen days?

[ittybitnot]

And where is the fine print that gives them the right to make it twelve to thirteen days?

LOL. They can change the "fine print" any time they like.  The system will be the only option, so they can set their own terms and restructure at any time. 

[goodluckselling]

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@divwido wrote:

every two to three days.  That's the part that worries me.  And where is the fine print that gives them the right to make it twelve to thirteen days?

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I am not following you?  eBay said they will settle out each day and the transfer time would be 2 or 3 days.  eBay can only send out the electronic transfer every day and many of the larger banks can handle this very quickly, but many small and or local only banks take longer so eBay uses this time frame as the expected time frame for all transfers to complete.

I am not sure what you mean by the 12 to 13 days?

Good Luck Selling!

[creekcoyote]

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@goodluckselling wrote:

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@divwido wrote:

every two to three days.  That's the part that worries me.  And where is the fine print that gives them the right to make it twelve to thirteen days?

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I am not following you?  eBay said they will settle out each day and the transfer time would be 2 or 3 days.  eBay can only send out the electronic transfer every day and many of the larger banks can handle this very quickly, but many small and or local only banks take longer so eBay uses this time frame as the expected time frame for all transfers to complete.

I am not sure what you mean by the 12 to 13 days?

Good Luck Selling!

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Oh, I have a pretty good idea what they mean by the 12 to 13 days.   E-bay does what it pretty much wants to under their open ended user agreement.   Open ended only for them.  So if they deem it necessary, they may, without warning, switch the deposits to whatever time frame suits their fancy.

E-bay doesn't have a very good track record in sticking to their 'promises' if it doesn't bring them in as much money as they had hoped.

And the user agreement is useless to the seller under most, if not all, circumstances.

[weschurch]

I mean lets be real. This isn't a tough decision.

Ebays track record vs my money - Hmmmmmmmmmmm.....................

I mean I fully expect my bank account to be drained and then getting an email about how "They are doing it for me".

[mrrufusandmsladya]

I have read through it more than once, I was looking for more on if any seller is using it already

and what is the good and the bad about using it.   

I see this as just another way ebay can control your money.

Some smaller banks charge for over the limit useage on transactions

so if this happens to happen then you have to find a bank/credit union

that can or will let you have a high amount of transactions.

[duncanvr]

Question is if the transfer of your sale money goes to your bank in 2 - 4 days do you ship the item before the money is in your bank? Will you now have to declare more tax with excessive funds going direct to your bank instead of PayPal? I wish they would allow sellers to transfer from eBay to PayPal rather than bank. If you get a dispute I assume they can take funds straight from your bank so recommend you have a separate bank account for eBay.

[castlemagicmemories]

https://community.ebay.com/t5/Payments/bd-p/payments-db

[collectibles2019]

MANAGED PAYMENTS IS A NIGHTMARE FOR SELLERS!  WE HAVE BEEN STRIPPED OF ALL PROTECTION WE HAD WITH PAYPAL!  PLEASE READ! By removing paypal from the equation, we have also lost the protection of Paypal.  If you sold to a "verified" buyer, then you were protected....no matter what!  Here is what just happened to me.....I sold an item for $480 at auction last Oct 2019.  I sold it "as is" but of course eBay gives them 30 days to return if Item is "not as described" right?  OK, so in LATE JANUARY, four months after I sold the item, the buyer goes to HIS CREDIT CARD COMPANY/BANK and files a dispute for the $480 charge saying "the item was not as described".  The bank contacts ebay, ebay sends them the info/details regarding the sale, and the bank sides with their customer refunding him the $480 (sucking it back from ebay).  Then what does ebay do?? they charge that back to me!!!!!  They add to my seller account bill the $480 PLUS A $20 dispute fee!!  So now I owe ebay $500 and guess what?? the buyer gets to keep the item too!  And wait, it gets even better, I was shocked and had this decision reviewed by the ebay review board which came back as "sorry, you are **bleep** out of luck! You owe us $500".  So, I figure when the $500 charge comes through my credit card, I WILL DISPUTE IT! Right?  well I can't...because I continuously sell on eBay and my "managed payments account had over $500 in it from other sales AFTER this dispute....ebay siphoned their $500 from my sales money.  So, it will NEVER be a charge on my credit card for me to dispute.  And WAIT! I am not done!  They not only siphoned it from my other sales, they ALSO added it to my seller account bill so they are taking the $500 from me TWICE!!  I have a customer service agent working on that double charge as we speak, she says it's a known problem they are working on. ON a side note: check your seller account bill against your managed payments transactions. PAYPAL ABSORBED THESE DISPUTES AND HANDLED THIS ON OUR BEHALF, EBAY TOOK THAT AWAY FROM US AND ARE NOW THEIR OWN PAYMENT PROCESSOR BUT SINCE THEY ARE NOT A FINANCIAL INSTITUTION AS PAYPAL IS, THEY ARE NOT EQUIPED TO FIGHT THESE BATTLES ON OUR BEHALF AND INSTEAD PASS IT BACK ONTO US AS IF WE HAVE THE DEEPER POCKETS!  I have had 2 very long conversations with Managed payment reps at ebay and they both claim ebay as a "victim" in this too. PEOPLE! Ebay CHOSE to kick Paypal to the side and become their own payment processor!!  Us sellers are the ONLY VICTIMS!!   The buyer community is already figuring this out and taking advantage of it!!!  And since ebay is passing the buck onto the sellers and feeling no pain, they have NO REASON TO FIX THIS!!!  I am now looking into selling on FB Marketplace and saving the 10% Final value fee and the 2.5% credit card processing fee (that also goes to ebay)!!!  Facebook Marketplace is already creating a more "ebay like" environment and is free!  And since we no longer have Seller and CC payment dispute protection on ebay, WHY PAY FOR IT!!!  PLEASE SHARE WITH OTHER SELLERS!!