Ebay Managed Payments

[njmresearch]

I have received my third Ebay message implying that if I do not sign up for their managed payment program my ability to  continue as an Ebay seller of the last 20+ years will be terminated. Is this really true?  My desire is to  continue to only use PayPal as the required method of payment expressly because I do  not want Ebay or anybody else to  have access to  my personal  checking account, period.  Thanks.

[khaos-motorsports]

Yes, that is true. eBay is processing payments just as Amazon, Etsy, Walmart, etc.

Doesn't PayPal have access to your personal checking account? You could always open a second account that is solely for your eBay store.

[nadkera_0]

yes its true..to any clarifications contact ebay..it is the best way to know everything what you need to know.

[dhbookds]

The banking info they need is the routing # and the account #, both of which are on your checks that you give to anyone...........  They also need your ss#, as required by the Fed Gov't, which you have given to paypal and any cc co from which you have a cc. 

[comics-scifi-collectibles]

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@njmresearch wrote:

I have received my third Ebay message implying that if I do not sign up for their managed payment program my ability to  continue as an Ebay seller of the last 20+ years will be terminated. Is this really true?  My desire is to  continue to only use PayPal as the required method of payment expressly because I do  not want Ebay or anybody else to  have access to  my personal  checking account, period.  Thanks.

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Adding to the other answers... If you do not sign up then once your deadline passes you will not be able to sell on ebay.  

[mr_lincoln]

@njmresearch   I opened up a new bank account with a new bank and got a credit card from them too ... its a little easier to control the Managed Payments cash flow as it is not mixed with any other accounts or credit cards.

Another reason I did this is that I researched the two banks we were using and learned that neither of them would be a good fit with the randomness of Managed Payments deposits with either the number of them or the dollar maximums on them.  At the time of this research eBay was NOT sharing any detailed info other then they would be randomly dumping money into your bank account.  Their lack of transparency was inexcusable but that's another topic altogether.

So in the end, when I finally signed up for the official indoctrination I selected Weekly Payouts instead of daily ... that way I don't have to check the online banking every day to see if I got paid for something ... just once  a week.  When I was using PayPal I was only taking money out once a month so Weekly Payouts works fine for how I use the cash from eBay sales.

I suspect that in the end you will remain with eBay and sign up for Managed Payments ... 20 years is a lot to throw away if you have an established account and numerous Followers ...

- Do I like Manged Payments?  No

- Do I use Managed Payments? Yes

- Who benefits the most with Managed Payments, eBay or the Seller?  eBay - they improve their cash flow on FVFs by up to 45 days by not having to wait for a monthly invoice to be paid by Sellers.  Sellers on the other hand have their money delayed anywhere from 2-10 days but eBay has said they are trying to keep that in the 2-4 day range.

Anyway, if you do decide to leave you have my sincere best wishes for success ...

[mrdutch1001]

not everyone still uses checks...(haven't written a check in years,) and not everyone had to provide PP with banking info, ID,etc - NOT all sellers are USA and many of us never had to supply all that info to PP! Not all eBay sellers are selling for an income and not all sellers need to provide any of that kind of info to sell online....

However, since eBay is taking this route, my choice shall be to take the route that bests suits me...

and that does not include providing eBay with info that I do not trust eBay to have...

[simba6]

Some sellers have said they did if fact do that to them.  Not all sellers have received that notice yet.