Managed payments catastrophe

[semperstraps]

So recently eBay released the Managed Payments  - I unreluctantly signed up, foolishly believing they finally came to their senses and introducing a way for sellers to better manage their incoming payments, i.e. to be able to keep the money in the original currency instead of being FORCED to convert it at PayPal's crooked rates.

Big was my surprise today when I saw that the first payment from eBay coming in, for my ebay.co.uk seller account, where I had added a GBP account to receive payments, to see that they sent me that payment AFTER doing a forced conversion at a hugely unfavorable rate, at least 4% percent off market rates, meaning on top of the fees they now are taking 4% which is even more than I was being charged via PayPal. When I contacted them to revert/cancel Managed Payments they told me its not possible.

What can a seller do against such unfair, criminal practice in my eyes? How to retaliate?

[iamalwaysright]

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@semperstraps wrote:

What can a seller do against such unfair, criminal practice in my eyes? How to retaliate?

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Cry.

[mtgraves7984]

What can a seller do against such unfair, criminal practice in my eyes? How to retaliate?

@semperstraps 

Good question. Not retaliatory , but the proactive measure I've taken while listing is no international buyers. Granted, I don't miss many sales, and today's world figures into my decision not to ship internationally for now... but for those with a product and the international market for that product, it does seem to bite a bit.

Hoping that others come to offer other remedies... I'm on the edge of my seat. Let's keep open minds...

[1tuna]

you shoulfd use some  more spam keywords for your listings

most of them appear to be in viloation of using name brand watches when you are selling no name straps

[queens*collectables]

Hey look, I went through that at the end of 2019 as I was forced into it with a gun to my back basically as they just decided to stop any buyers from buying and sent them a message behind my back.   A buyer finally told me and sent me a snapshot of the messages ebay sent of the block  and if I didn’t sign up for ebay managed payments , I couldn’t have sales .   Before that , my Ebay experience was ok, but what  they did to ppl and the outright lies was the worse thing I have ever dealt with with any company  or anything I have experienced In my entire life .  Ebay is outright  shameless and highly unethical .    Ebay managed payments lied way way way too too much and it was so blatant ebay became  the most untrusted selling platform anywhere and still is .  Ebay simply isn’t trust worthy and are actually shameless about it and you can’t shame the shameless …it’s just not a classy selling platform and ebay just has no class and really is “ flea market “  company compared to the other classy selling platforms like Amazon .  Ebay Will never be able to compete with Amazon no matter how much they try .  Ebay doesn’t have the class in the first place to even do what Amazon does 

[team_akira]

The best way is to fire eBay by not doing anymore business with them, selling or buying. Instead, sell and buy on a competing platform. Too many sellers complain and whine but still bend over for eBay. If they can get away with it then they will keep doing it.

[pikabo-icu]

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@queens*collectables wrote:

Hey look, I went through that at the end of 2019 as I was forced into it with a gun to my back basically as they just decided to stop any buyers from buying and sent them a message behind my back.   A buyer finally told me and sent me a snapshot of the messages ebay sent of the block  and if I didn’t sign up for ebay managed payments , I couldn’t have sales .   Before that , my Ebay experience was ok, but what  they did to ppl and the outright lies was the worse thing I have ever dealt with with any company  or anything I have experienced In my entire life .  Ebay is outright  shameless and highly unethical .    Ebay managed payments lied way way way too too much and it was so blatant ebay became  the most untrusted selling platform anywhere and still is .  Ebay simply isn’t trust worthy and are actually shameless about it and you can’t shame the shameless …it’s just not a classy selling platform and ebay just has no class and really is “ flea market “  company compared to the other classy selling platforms like Amazon .  Ebay Will never be able to compete with Amazon no matter how much they try .  Ebay doesn’t have the class in the first place to even do what Amazon does 

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eBay isn't Amazon and will never be Amazon and for that I am grateful.

The Internet marketplace has room for BOTH- Amazon is more for big business and/or new items but they have no place for a designer reseller like myself or collectable sellers, one of sellers etc...  And talk about fees?  Holy Moly Amazon has way higher selling fees..

For the rest of your accusation; I'm afraid I'm gonna need receipts.. I find most of that hard to believe.. And yes, eBay switched to MP- I don't like it but that's the platform.. Conform or move on, those are the only choices. 

[semperstraps]

The worst was that they could have at least warned/explained how it works...in which case I would have delayed going onto MP as much as possible whilst looking for alternative venues to unload whatever I have left of my stock as I after the pandemic and taking a big hit, it just ain't worth continuing. But no, as usual it was deceit start to finish, I wasn't warned that despite me having accounts in the same currencies as what I sell my products in, they will nevertheless force some conversions just so that it suits them to collect more fees. 

[semperstraps]

Are you sure about that? From what I've read, Amazon charges on average 15% of the sellers receipts. eBay charges around 11% on most categories, and for sellers abroad such as myself, if you consider the minimum fee thresholds, the "international" fee which is total nonsense, because I was getting charged extra by PayPal too, the forced conversion on withdrawals, not to mention  the final value fee on postage??? its around 20-27%, that'd what I effectively pay depending on collected amount (the smaller it is the worst). Whereas my profit margin on most products is NOT as high as this, with time, as more and more Asian sellers invaded eBay, which I have nothing against, its fair competition, whilst postage costs and eBay fees have exploded in value, it basically became a lot of toil for little money. I'm sure eBay will survive and probably will slowly focus on just the big seller accounts which get all kind of perks and much sellers fees, alongside the Asian sellers that sell 1000s of items per day and pay sub-human labor exploitation costs, whereas the sellers for which eBay was initially built, the average Joes, are simply removed out of the equation. I am not complaining or decrying this as thank God I am not earning my living thru eBay, it was more of a hobby turned into some extra income, but I am just making some general observations of how deplorable eBay has become, it wasn't always like this.

[katzrul15]

@semperstraps  - have you posted this on the UK board to see what others are doing?  No real advice for you there on the conversion rate.  Canadian sellers were concerned about the same thing so maybe one of them will weigh in here shortly.

[semperstraps]

Thanks for the comment Doctor...where did you earn your Phd. in wise-assery? 

[biggymoe]

That's eBay.  Your best option would probably be to find another venue that you feel is more reasonable.

[semperstraps]

or laugh hysterically 😂 

[semperstraps]

Well, I have an account here on eBay.com too, and was foolish enough to "upgrade" on both to MP, thinking they will be sending me directly dollars to my USD account, but of course they will send me euros and force a conversion too. It just didn't kick-in yet here, it first did so on my eBay UK account.

[1tuna]

I am not the one practicing deceipt.........think about that one