I want to opt out of managed payments

[exibar]

how do I opt out of Ebay managed payments.

 I do not want it at all

I am happy with using paypal

I do not want to have ebay manage my payments and send money into my back account

Mike B

[mam98031]

---

@tinkrbl48 wrote:

This MP thing has too many flaws.  Does anyone else here see a Class Action Lawsuit in Ebay's future?  

---

@tinkrbl48 

Are you talking about actual flaws or that some of how MP works you don't like?  I ask just to get a better understanding of what you are speaking to.  Many posters things that they don't like about MP and call them flaws when it is their opinion it should work differently.  So I'm simply trying to understand your position.

[tinkrbl48]

Two things come to mind.  When buyers paid through Paypal, we'd get an email notification that something had sold ... and the payment was in Paypal.  Now, not only doesn't Ebay notify you, but they keep all of your money until they decide to hand it over.  I don't care if they take fees instantaneously, but they could still pay immediately.    Paypal also gave us financial protection by keeping our account numbers undisclosed.  Now, if Ebay is hacked and the hackers draw our money, , we're all screwed!   I'm pretty sure Ebay isn't insured by FDIC .... or is it?   

[mam98031]

@tinkrbl48 

Two things come to mind.  When buyers paid through Paypal, we'd get an email notification that something had sold ... and the payment was in Paypal.  Now, not only doesn't Ebay notify you, but they keep all of your money until they decide to hand it over. 

This may be something as simple as checking your site preferences.  I've been in MP a long time and I get a notification via email every time something sales.  There are email preferences in the site preferences you may need to adjust a little.

MP is pretty consistent with 1-2 days to clear payment and then it moves to Available for transfer on the next available Business day for those on Daily deposits and the next available Tuesday for those on a Weekly payout.

I don't care if they take fees instantaneously, but they could still pay immediately.   

I too wish MP worked closer to how PP does, but it doesn't.  Hopefully in the near future that changes but only time will tell.  I do the weekly deposits.  They are sent out every Tuesday morning and I have an email from my bank before noon on Wednesday that the deposit is in my account.  I do bank with a major bank and I know that some that use more local banks it can take 1-4 days.

Paypal also gave us financial protection by keeping our account numbers undisclosed.  Now, if Ebay is hacked and the hackers draw our money, , we're all screwed!   I'm pretty sure Ebay isn't insured by FDIC .... or is it?   

Paypal nor Ebay are banks, therefore they are NOT FDIC insured.  I'm unsure who told you that Ebay doesn't encrypt our banking information, but whomever it was is totally incorrect.  Even if you go to view your banking information you can't see the entire number and that is because it is encrypted.  

[downunder-61]

1. 

Paypal fronted the money to the seller before it was even cleared to them, so we all got happy and comfortable with that - now Adyen as a financial banking institution (PP was Not a bank) are bound by banking laws and can not do that, so we wait until funds are in our banks.

2.

The only time it happened was in about February / March of 2014 Ebay was hacked.  The site was hacked.  The hackers were able to get the passwords on quite a few accounts.  However that is encrypted information and the hackers were never able to break the coding, so they never got to our more sensitive information.  So no one lost any financial info and Ebay did have some as sellers put in auto payment information for the Monthly Seller Invoice and some sellers had credit cards as a back up funding source.  But the Ebay security held up to this attack and sellers were not adversely affected.

3.

Adyen are most certainly licensed in the US and every country they operate in

https://www.adyen.com/platform/licenses

[blesseddivas]

Go to a bank and open a seperate account just for the big baby EBAY. Do not let them anywhere near a vital important bank account.  Just go get a free checking somewhere, dont order checks just make it exclusive for Ebay. I share your grief, trust me, they are one big PIA, too bad I love the old Ebay so much. 

[coinliquidator]

That’s exactly what I have done. The bank account that eBay has access to is used by me for nothing but that. As soon as the balance gets above a few dollars, I transfer it to another account that eBay knows nothing about and has no access to. So even if eBay gets hacked, they can’t get anything from me except a few dollars.

[nepa.k.a.s]

I completely agree with not wanting managed payments forced down our throats.

Paypal was instant, money was there when the buyer paid, now we have to wait 3-5 days for the money to arrive in the bank? May as well snail mail a check ...... Large step backwards for ebay.

And now I see fee's are 12.55 % it used to be 10% ebay 3% paypal. 

I am very doubtful on staying on ebay platform for selling. For  12.55% of each sale I can pay for multiple websites every month.

[mam98031]

---

@nepa.k.a.s wrote:

I completely agree with not wanting managed payments forced down our throats.

Paypal was instant, money was there when the buyer paid, now we have to wait 3-5 days for the money to arrive in the bank? May as well snail mail a check ...... Large step backwards for ebay.

And now I see fee's are 12.55 % it used to be 10% ebay 3% paypal. 

I am very doubtful on staying on ebay platform for selling. For  12.55% of each sale I can pay for multiple websites every month.

---

@nepa.k.a.s 

"And now I see fee's are 12.55 % it used to be 10% ebay 3% paypal. "  So just using your numbers you would save .45% in fees with MP.  [10% + 3% = 13% - 12.55% = .45%]

Here is a little more info to consider because come next month the PP fees are increasing by a good chunk, so being in MP saves you even more.

Fees for Sellers still using Paypal Through July of 2021
10.20   $100 x 10.20% Ebay FVF
2.90   $100 X 2.9% PP Fee
  .30   Per Transaction fee
13.40 Total Fees

Same Transaction in MP
12.55   $100 x 12.55% FVF
.30   Per Transaction Fee
12.85 Total fees

Fees for Sellers still using Paypal Through July of 2021
10.20   $100 x 10.20% Ebay FVF
3.19   $110 X 2.9% PP Fee [$10 sales tax]
.30   Per Transaction fee
13.69 Total Fees

Same Transaction in MP
13.80   $110 x 12.55% FVF
.30   Per Transaction Fee
14.10 Total fees

Fees for Sellers still using Paypal as of August 2nd
10.20   $100 x 10.20% Ebay FVF
3.49   $100 X 3.49% PP Fee
.49   Per Transaction fee
14.18 Total Fees

Same Transaction in MP
12.55   $100 x 12.55% FVF
.30   Per Transaction Fee
12.85 Total fees

Fees for Sellers still using Paypal as of August 2, 2021
10.20  $100 x 10.20% Ebay FVF
3.84   $110 X 3.49% PP Fee [$10 sales tax]
  .49    Per Transaction fee
14.52 Total Fees

Same Transaction in MP
13.80  $110 x 12.55% FVF
   .30   Per Transaction Fee
14.10 Total fees

[piano_8572]

I don't mind managed payments, but the selling fees for my item are 5.85% with managed payments and without it had been 3.5%. So eBay is charging (at least in musical instruments category) 2.35% more now. Quite an upcharge for this new service.

[mam98031]

---

@piano_8572 wrote:

I don't mind managed payments, but the selling fees for my item are 5.85% with managed payments and without it had been 3.5%. So eBay is charging (at least in musical instruments category) 2.35% more now. Quite an upcharge for this new service.

---

@piano_8572 

The important part of that you are forgetting is that you do NOT have the 2.9% PP fee any longer so you are saving money on overall fees.

Also note that PP is raising their fees in August to 3.49% and a .49 cent per transaction fee.  That is quite a jump.

[access.armory]

If I make a sale on a Thursday I don't get paid til the following Tuesday.  6 day delay vs. instantly with the old method.  This isn't something one just "gets used to".  It's robbery and a middle finger from eBay.  The moment an alternative site becomes available, bye and **bleep** you too.  You sellers with ten grand in the bank that couldn't care less about a 6 day delay, **bleep** off and go swim in your bank vault like Scrooge McDuck.  

[johnnyb1177]

I wish we could. Unable to sell all things allowed on eBay when you have this and now I cant use the money paid to me to pay for shipping. Some of us sell because we need money, and when youre short, using the PayPal debit card to ship the item was a nice option. Back to Facebook Marketplace and Craigslist

[downunder-61]

You can use the pending funds for shipping.

Also good to see the OP stuck it out and is still selling on eBay, good for you

[discountmagz]

I think I'm going to claim NON PROFIT business on my taxes this next year. 

[discountmagz]

Kanye West is on to something.