Can't find my way back... but sure nervous.

[susie-q2u]

*Anything asked as a question...can be considered rhetorical at the moment...   I'll never find the answers, LOL.  

So a couple days ago I posted asking for help in finding out how to get the MP going... I couldn't find the the actual page.  In the meantime...  I think I found it.. and I think my issue was not realizing I might have needed to change to a "business" account, then realized I couldn't link to the add bank account  requirement yet without getting all my info together.  Today I received an email telling me I had a response and asking if I was able to resolve my issue.   So 3 HOURS ago I came into my office to go find that response... I still haven't found it.  I got sidetracked reading answers from other questions.... but when I paged back it took me to top of list, or some other page.  Just not the one I was actually on and hopefully just down arrow to next message.     

However... in my scrolling travels I started seeing the massive posts about the new payment program and what a disaster it sounds like.   I'm not so sure I'm ready to do it yet.  How will I know if my bank will be verified?  I recently started using another  checking account connected to our main account that we hadn't used in awhile. I started using it for my monthly SSDeposits. So there is not a lot of activity and it will be easy to clarify eBay activity.  However.... I'm concerned should the need arise...if funds are held in case of a dispute, that my SS funds will be held.  It is also a credit union.. will that make a difference?   I continue to make purchases on eBay... and can get by on that.  I've had good success with FB selling groups that cater to the exact market who would want to buy my items.  It's free and, they only take PP.   

I have always done well for the selling I've done over the years on eBay.   So I hope this get worked out so it becomes less stressful.  

[kensgiftshop]

@susie-q2u 

There are a few that have had actual problems with MP.

Most of the complaints you see here are from sellers that don't understand how MP works and rather then finding out, they'd rather come here and complain.

If they have to put a hold on any funds, it'll only be what is needed to refund the buyer, they don't freeze all the money in your account.

Some have had problems with a Credit Union and some haven't.

[soh.maryl]

Has eBay actually messaged you and suggested they want to switch you to Managed Payments?

Most sellers, I believe, when switched over to MP, have simply opened another checking account dedicated to their eBay payments.  That makes your tax accounting easier also.  

[inhawaii]

Most of the experienced sellers on this board have switched to MP and are having no trouble whatsoever.   They've opened up a separate checking account just for they ebay payment to go into. 

Most of the sellers who come here complaining about MP don't understand how it works.   They complain that ebay has "full control" over your finances.   They don't.  They complain about the high fees. Fees are the same.  They complain about slow sales. It doesn't affect sales at all.  They complain that buyers can no longer pay with paypal.  Not true. They still can.   They complain about having to wait for your money. That part is true. There is a few day holding/processing period before the funds hit your bank account.  

Other than that its the same as when we were using PayPal.  Sell something. the funds go in to your checking account in a few days. Spend it or do what you want with it. 

[house*of*paws]

Hi @susie-q2u 

You can find all your previous posts in the Community simply by clicking on your Username anywhere you see it in the Community pages ... like in the upper-left corner of your original post.

Here's your posts:

https://community.ebay.com/t5/user/viewprofilepage/user-id/2513662

[katzrul15]

@susie-q2u 

We switched to MP last fall (October), so almost a year ago.  Minus 1 small hiccup, everything has been fine.  I think I actually prefer how it is billed and handled, etc.  We opened a separate checking account at our bank for just MP and it has been smooth.  We do the daily payouts on one selling account and weekly on the other.  Both have pluses and minuses, so either choice is a good one.

There are tons of threads every day where someone is really upset.  Usually, once you get to the "root" of the issue, it is not even what they thought was going on.  Easier to blame MP for their slow sales, etc etc than looking at their variables and understanding how those are likely what is causing their issues, etc.

Good luck.  Be safe!

[dhbookds]

Couple of tips for signing up...........

The name on the bank account has to exactly match your ebay name:

Susie Jones will not match Susie B Jones.  If they don't match........just change the ebay name.......in preferences. 

Credit Union accounts were not acceptable at first......but now some seem to be ok. Checking accounts were/are preferred.   I think (not sure) that some Credit unions have limits on how many deposits/withdrawals can be made and that may be what disqualifies some. 

[susie-q2u]

Thanks for your replies.  I opened my email and was able to actually link to the replies.   It's always simpler than my mind thinks.   I did kind of get that a lot of the held funds were for things w/specific reasons, and my habits would not leave a used account so low on funds.  While I can certainly open an unrelated account,  It might make sense if I was a major seller... just got my 15 year email.. and with less than $2000 in sales... but opening another  bank account doesn't make sense at this point unless it's the only way.  I live near a branch, so may pop in tomorrow to ask.  They should know if my accounts would be verified in this case, and can set me up, or look at the other unused accounts we have.  There might be one more checking one.      Thanks again!

[chapeau-noir]

FWIW, everything dumps into the same account for me - the same account I've had for 40 years, actually.  If I were still a full time seller I would have opened a new checking account, but having gone to part-time and soon to no-time (though I'm spending an awful lot of...time...cleaning out the house to get rid of everything) it just seemed like it wasn't necessary.  No problems - I use the same account for all three managed payment systems I use on three different sites (here, Poshmark and Mercari).  So there's some flexibility here.

[pj895]

@susie-q2u 

I opened another checking account at my CU 2 years ago just for eBay MP.

All online. No paper checks.

Wife did the same.

No fees at ours. We do weekly payouts, and keep a cushion there just in case, but xfer funds out to an "interest bearing" account periodically.

[mam98031]

@susie-q2u 

Keep in mind there are 19 million sellers Ebay is trying to get onboarded to this program before the end of the year.  They currently are about 75% complete.  So in relationship to the complaints on the threads to how many sellers are actually in MP is a fraction.  That is NOT to suggest that these sellers having issues are not important.  Each and every one of them certainly is, I just share this so you keep in mind there are many more that are in MP and using it without issue.

As to your SS check.  Ebay nor MP have ANY ability to put a hold on your SS deposits or any other kind of deposit.  They just don't have that kind of authority unless they get a court order.  With that said, MP can dip into your attached checking account to fund a negative balance in your MP account.  That they are allowed to do.  But don't get overly worried about this.

If your MP account were to go into a negative, Ebay would send you an email telling you that and giving you a few days to get it covered before pulling money from your checking account.  So if you get more sales, even if pending funds and it is enough to cover the negative balance, they will NOT look to your checking account to fund the negative balance.

OR you can enter a back up funding source, I use a credit card, that Ebay will fund a negative balance through.  The same process as described above except instead of pulling from your checking account it would be your back up funding source.

The following links are very informative and easy to read. Lots of great information in these articles that contain information you should be aware of. After you read them you will likely have questions. Come on back and ask whatever you need to.

https://community.ebay.com/t5/Payments-Resources/How-does-the-updated-eBay-payments-experience-work-...

https://community.ebay.com/t5/Payments-Resources/Have-questions-about-payments-Check-out-this-post-f...

https://community.ebay.com/t5/Payments-Resources/Infographic-How-payouts-work-when-eBay-manages-paym...

https://community.ebay.com/t5/Payment-Resources/Changes-to-the-eBay-invoicing-process/ba-p/32004201

https://community.ebay.com/t5/Payment-Resources/What-does-it-mean-for-eBay-to-manage-payments-for-bu...

[gail5176]

Payments are pretty slow but I consider anything over 3 days as slow-usually takes 4-7 days to get money put in your account. This is the biggest disadvantage to the new system. Yesterday they told me my payment would be sent today-now today they say tomorrow-with the holiday on Monday -I doubt I will get it by Friday-the buyer will get her item before I get the money-and that kind of sucks

[mam98031]

---

@gail5176 wrote:

Payments are pretty slow but I consider anything over 3 days as slow-usually takes 4-7 days to get money put in your account. This is the biggest disadvantage to the new system. Yesterday they told me my payment would be sent today-now today they say tomorrow-with the holiday on Monday -I doubt I will get it by Friday-the buyer will get her item before I get the money-and that kind of sucks

---

Do you mean the Holiday NEXT Monday?  If so, how does that affect what is suppose to be transferred this week?

From the time MP releases your Payout, how long until it is recorded at your bank?  Once they release the Payouts, the money is then in the hands of the ACH banking system and MP no longer has ANY control over the money.  

For me, I do weekly deposits.  My Payouts are released every Tuesday morning and I have a notification from my bank that the deposit has arrived before noon on Wednesday.  I do bank with a large mainstream bank.  For those dealing with smaller more local banks or ones that are simply less known, it can take longer.  And for those, that is NOT an MP issue that delays the deposit.  That is the process of the banks.