New Fall Seller Update: Managed Payments Now a Recommendation, Not a Requirement

[the-box-girl]

Here is what EBAY is now saying in the Fall Seller Update about switching you to managed payments:

"When you receive a notification​ from us, we recommend you register before the deadline to avoid any interruption to your business."

Notice the change in terminology from "Required" to "Recommended" ?  They have apparently changed their approach to how they plan to ramrod Managed Payments.  They appear to at least be realizing at this point in time that they are asking people to do something that they really do not want to do.  Well, every step in the right direction is a step in the right direction.

[kraftyrose]

Yep and even though I chose 1 day payments it normally takes 6 days or so before the money is in my bank account.  I live on SocialSecurity and have to wait 6 days for payment.

[kraftyrose]

I agree- I am a small selller but I did very well 20  years ago but not now.

[kraftyrose]

You will not receive payment in your paypal account ever again on Ebay.  ALL payments go to Ebay - and what I have experienced is they hold your money for 2 days then send to your bank which in my case takes another 4 days (and I bank with a large bank) so you get your money in about 6 days. Paypal is an option but not YOUR paypal.

[kraftyrose]

Correct - my money is taking 6 days also

[muskingum_relics]

it is most likely not your bank taking 4 days to have it in ! The banks want your money in their bank, I say ebay is being deceptive about when they release it !! I am glad I decided to not sign up for mangled payments ! You will hear a few that say oh it is just fine but you can be sure there are 1000s of sellers out there that very strongly oppose it ! I know it is not for me as ebay has lost my trust and no way do I want them having access to my bank account nor with the pandemic do I want to try to go to a bank and start another account just to appease ebay ! With me they have lost a long time devoted seller ! good luck to you !!

[caldreamer]

When you sell item it will immediately appear in PAYMENTS tab (in Seller Hub) as PROCESSING (blue dot) after 2-3 days that will change to COMPLETE (green dot).  This amount will then go into your DAILY PAYOUT  after 3-4 days delay. You will get an email when DAILY PAYOUT sent to bank (another 3-4 days before actually showed up in your account).  ***DAILY PAYOUT (can include multiple items from different days).

Entire process takes approximately 7-10 days before money actually goes into your bank account.

[jayjaspersgarage]

I wouldn't dare mix personal money and business money in the same account. IF, and it's doubtful if I will, join MP it will be with a business account using strict instructions that won't allow anyone to withdraw money without my expressed written permission.  Even for a plug nickel!

[jayjaspersgarage]

Nice suggestions.  I flew to Australia from San Francisco and back from Melbourne for free on airline miles.  It's a great way to fly.  On a recent trip to Boston my total cost for first class round trip tickets was $121 for two people.  Using credit cards that earn airline miles is the best way to run a business.

[alnor2010]

I have been selling on ebay since 1997.  Trust me, it was horrifically strife with scamming sellers back then.  Massive improvements over the years, especially the 2008 tidal wave of new policy caused huge migrations of sellers to bail on ebay and start their own platforms.  These improvements over the years has eBay shifting to providing buyers with constant opportunities to scam the sellers, a.k.a. stealing and getting away with it with ease.  I was one of the first people to sign with Paypal when they formed.  Ebay joined with Paypal for a while but broke off with them a few years ago.  What this managed payments seems to be, as far as I can tell, is a copycat of Paypal.  Paypal has our bank accounts and information and since they began, I personally have not had monetary issues with them.  I mean I never felt my money was in danger of not getting to me.  What I see going on over the years is ebay partnered with Paypal to see how they worked it, broke off with them and formed their own payment company.  I just don't see much of a problem with it with the exception of software or policy bugs that will have to be worked out.  Actually the problem I am having with it is the selling restrictions they've added.  If I understand the new prohibited items policy, we can no longer sell coins and paper money, graded or not.  I just took in a huge coin collection for a friend with the promise I will sell them on ebay but now it appears I can't do that and I don't know what to do about it.  Their new prohibited items policy is going to kick out a huge amount of sellers who only deal with coins.  In the long run Muskingum Relics, as more and more hard-to-swallow rules kick in, more and more sellers leave when they realize it's ebay's site and they can do what they want and if you don't like it, you don't use it.  You and me have weathered the worst times of ebay but I am going to continue on; ebay's customer's base is so huge, I cannot leave it.  But trust me, no one will scoff at your decision to leave.  You toughed it out as long as you could.  Nobody will think less of you for leaving.  People may think you're nuts for leaving and others will think we are nuts for staying.  To each his own.......Good Luck to you!

[muskingum_relics]

your input is appreciated !! I could deal with this a little better if ebay was not tying up the money so long and sadly I do know they are !! I still see coins however being listed ! How is that taking place ? just curious and thanks

[dropndeal]

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@gloryglorygifts wrote:

Just wondering is that the cash back Paypal card that you are using or is it from another institution?  Does using their multi shipping tool work toward a cash back purchase?

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Sorry for the delay; I had to get some actual work done around here...😁

My cashback credit card is not from Paypal.  However, a Paypal cash back credit card would work, whereas their debit would not.

Regarding multi-shipping tool; in my case yes, because it's unlimited cash back on every purchase.  It all depends on your card terms and how you're paying for postage.

[itsme1006]

so are you sending the item you sold before you see the money?  I like shipping out the same day.

[dropndeal]

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@jayjaspersgarage wrote:

Nice suggestions.  I flew to Australia from San Francisco and back from Melbourne for free on airline miles.  It's a great way to fly.  On a recent trip to Boston my total cost for first class round trip tickets was $121 for two people.  Using credit cards that earn airline miles is the best way to run a business.

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That is Awesome! Yes, I am a million-miler (plus), from my days in the automotive supply chain. Airline miles, hotel & rental car points, plus cash-back credit cards is the only way to fly (excuse the pun).  I never made it to Australia unfortunately.

[tev4all]

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@the-box-girl wrote:

Here is what EBAY is now saying in the Fall Seller Update about switching you to managed payments:

"When you receive a notification​ from us, we recommend you register before the deadline to avoid any interruption to your business."

Notice the change in terminology from "Required" to "Recommended" ?  They have apparently changed their approach to how they plan to ramrod Managed Payments.  They appear to at least be realizing at this point in time that they are asking people to do something that they really do not want to do.  Well, every step in the right direction is a step in the right direction.

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The new approach is a like the "polite mugger" saying I "recommend" you please hand over your valuables and wallet before I "unfortunately" have to pull this trigger"

Sounds better than, "Your money, or your life"  

[dropndeal]

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@caldreamer wrote:

When you sell item it will immediately appear in PAYMENTS tab (in Seller Hub) as PROCESSING (blue dot) after 2-3 days that will change to COMPLETE (green dot).  This amount will then go into your DAILY PAYOUT  after 3-4 days delay. You will get an email when DAILY PAYOUT sent to bank (another 3-4 days before actually showed up in your account).  ***DAILY PAYOUT (can include multiple items from different days).

Entire process takes approximately 7-10 days before money actually goes into your bank account.

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Obviously, I can't, and won't try to speak for everyone, however 7-10 days is likely not a typical result. Every financial institution processes electronic payments at different speeds. 

I just reviewed my last ten (10) payouts, across 6 sale days, with the following results:

Date of Sale to Date of Payout: 2.4 Days

Date of Payout to Date of Deposit: 1.2 Days

Average Date of Sale to Date of Deposit: 3.6 Days (including Labor Day Weekend).

Prior to MP, I transferred Paypal balance once per week, or at a certain monetary threshold. Even so, it took longer, by my choice, versus the current method.   

Again, this likely is not typical for everyone, however if a particular bank takes 3-4 days to process an electronic payment, then it's time to go shopping!