Managed Payment Mandate

[ktnsilver77]

Open forum on the Managed Payment Mandate. 

Paypal took 1.5% for their services, how much will Ebay take(on top of their 10%)? 

How do sellers feel about this change?

What is the deadline for compliance?

Why the need for this change?

As for me I will use the existing system for as long as possible. I will quit listing for a while then modestly step back in. 

What say You?

[buyselljack2016]

@ktnsilver77 

PP does not want to process eBay sales funds. eBay got another processor.

Deadline is different for some sellers. Not all at same time. eBay tells you when it is your time to "opt in"..

My fees with MP are about the same as with eBay/PP.  About a break even when sales tax is 6%. A bit higher with higher tax. A bit lower with lower tax.

[veronicabooksandart]

I enjoyed a year of all but issue-free eBay using PP. Then they brazenly overcharged me for FedEx shipping in November and I have not been able to get them to credit my account. So I'm done.
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The idea that MP will be issue-free smooth sailing is best debunked by the call wait times.

[ktnsilver77]

Thank you for your input.

[ktnsilver77]

Thank you for your input.

I too was happy with Paypal. After being established as a seller, funds were in my bank before the goods were sent. Will Ebay now require goods to be received before payout?

[buyselljack2016]

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@ktnsilver77 wrote:

Thank you for your input.

I too was happy with Paypal. After being established as a seller, funds were in my bank before the goods were sent. Will Ebay now require goods to be received before payout?

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New seller payments holds may apply for some.  If your payments were not held with PP, they probably will not be held with MP.

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My buyer pays.

MP confirms that payment, and shows "Awaiting shipping" in the "manage orders" section. That is the same as the PP "OK to ship".

I ship within my handling time. I use my "pending", or "available" funds in MP to pay for shipping by scrolling down on the label page to choose that option.

The buyer payment is "processed" , and "completed" within 1-2 days and becomes "available".

"Payout" of "available" funds are made the next "business" day.

My "payouts" are showing deposited in my CU checking account the next "business" day after they are made. YMMV

I started with "daily" (daily when funds were available) , but have chosen to switch to "weekly"(done on Tuesdays) payouts.

[powell-memorabilia]

Yes and no.  If a seller has paid, you ship the item per your handling settings.  If you want payment before shipping, extend your handling time.

[mtgraves7984 · Accepted solution]

What say You?

@ktnsilver77 

I opted in a year-and-a-half ago. I've adapted and I'm still here. It's doable.

[johnrj1226]

PayPal chargers more than 1.5% (e.g for US commercial online transaction it is 2.9% plus  a 30 cent transaction  - been that way since 2010  when I started selling)   They charge more for  currency exchange trans actions - I think it is 4%.

read the link.

https://www.paypal.com/us/webapps/mpp/merchant-fees#fixed-fees-commercialtrans

[buyselljack2016]

@ktnsilver77 

Paypal took 1.5% for their services, how much will Ebay take(on top of their 10%)?

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12.35% in most categories.

Don't know what "coins" will be as that category does not open up on MP until Jan 25, 2021, so fee not displayed.

I missed directly addressing that part of your post

You can read about the MP seller fees here.

https://www.ebay.com/help/selling/fees-credits-invoices/selling-fees-managed-payments-sellers?id=482...

[internet-coins]

My main concern is that Ebay wants more personal info to set up MP. Social Security number, checking account number. Those are the two that I'm aware of. Correct me if I'm wrong, did we have to give our SS # when we set up an Ebay store before MP?  If so, I don't recall having to do that. IMO, this sets Ebay up for a higher risk of being hacked. Are they prepared for this? How will they cover their sellers if this happens? Maybe a lot of people here don't mind giving up this info, but for me, I don't like doing it. Just my two cents.

[ktnsilver77]

Thanks for your input. I guess I'm just old school and resistant to change.

[buyselljack2016]

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@internet-coins wrote:

My main concern is that Ebay wants more personal info to set up MP. Social Security number, checking account number. Those are the two that I'm aware of. Correct me if I'm wrong, did we have to give our SS # when we set up an Ebay store before MP?  If so, I don't recall having to do that. IMO, this sets Ebay up for a higher risk of being hacked. Are they prepared for this? How will they cover their sellers if this happens? Maybe a lot of people here don't mind giving up this info, but for me, I don't like doing it. Just my two cents.

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We all have to decide for ourselves.

They need the SS info to comply with laws.

PP may have had the SS # for some sellers. Do not remember if I gave them mine, or not.  I never hit a 1099-K threshold, but those that do had to provide the SS #.

They need our checking account # to be able to transfer the funds from the processor(Adyen) to the account.

I opened an additional checking account just for eBay.

[veronicabooksandart]

Most of their new requirements seem to involve third-party personal identification verification.
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The problem is, the growing list of disinterested third parties comprising MP don't know you from Adam.

[ktnsilver77]

I wasn't aware of the ss# requirement.