Non business user forced into managed payments?? questions

[becif902]

I am mostly a buyer on eBay but each year towards the end of the year I sell some of my used stuff to raise cash for Christmas or a new camera etc.  Now I am being told I have to give them my checking account number and paypal is out.  I don't understand this, I am a casual seller, not a business and not making a profit.  My biggest question is if I open a new checking account just for ebay and transfer the funds out of that account and a buyer decides he doesn't want the item or has buyers remorse (I am a no returns seller) can ebay overdraw that account and cause the bank to charge me overdraft fees?  If so, is there a way around this other than leaving the money in the account for 90 days before withdrawing?  Thank you for the help.

[wrong66]

Of course eBay wanted to make more money with MP. That's what for-profit companies do. That's what I try to do.

[mtgraves7984 · Accepted solution]

My biggest question is if I open a new checking account just for ebay and transfer the funds out of that account and a buyer decides he doesn't want the item or has buyers remorse (I am a no returns seller) can ebay overdraw that account and cause the bank to charge me overdraft fees?

@becif902 

The 'no overdraft' workaround you're looking for is this... attach a credit card as the Automatic Payment Method for your monthly eBay invoice.

Yes, refunds will be pulled from your Pending Payouts first, but if you don't have enough sales to cover them, the refund will be billed to your CC after 14 days.

[animesalesandmore]

To me it slows my business down because I turn around and use my profits to buy more stuff and If I have to wait 5 days I will miss out of deals and offers from my suppliers. Stupid eBay have to keep messing up their Code

[becif902]

Sorry but I am confused.  I thought eBay and PayPal were separated now with managed payments.  I thought that no funds from ebay or to ebay will go through paypal any longer.  I thought my only option available was to give ebay a checking account.  It isn't like the information they provide is very helpful.

[jazzly]

Social Security Number and Checking account number?  My accountant asked if I was crazy for even asking if this was OK.  Sorry Ebay, there are other alternatives.  Obviously my 20 Years on ebay means nothing.

[becif902]

Hello, so if you sold multiple items close together ebay just sends a lump payment to you that you don't really get until 5 days later and then you have no way to tell what individual items have been paid for?  How do you pay for shipping if you do the labels right from ebay.  This is sounding worse and worse each time I look deeper....

[becif902]

Ok, how can ebay freeze funds that aren't there?  I sell an item, receive my payment (takes a few days), I ship the item after I get paid, that takes a couple days to get there, I transfer the money out of the account when I ship the item.  Buyer says I want to return the item.  Does ebay then submit a withdraw request and since I don't have money in the account I get charged $40 overdraft on my account?   I get the no returns thing.

[becif902]

sorry question to your solution.  I thought there was no longer a monthly invoice since all fees were immediately deducted before receipt

[obx_mouse]

AMEN!! There is no way in H*** I'm giving those numbers to an unsecured (and insecure) site, such as eBay... I have been quite happy with PayPal, joined the minute they arrived on the scene about 20+ years ago, and was among the first to receive a PP debit card the following year. One reason I trust them is because they are a SECURE site (note the little "s" in their URL) ...do you see one in eBay's? Nope. Although I've been selling (non-business, tho I had a store at one time) on eBay since 1998, this is the end... I'm sorry to see it go -- but something tells me they will not miss me 😞

Thanks to all who posted here, now I know I'm not the only one feeling this is a big mistake!!

[mach128]

Do not forget Power Of Attorney to your account, Im sure your lawyer would love to explain that one.

[rosesbooks2017collection]

Hi Its Rose

Very GOOD! I didn't think of the time it may take for payment to be deposited into my bank account. Clever. Thank You.

eBay is holding payment monies several days...Digital financial transfers are performed in milliseconds. 

Holding / delaying payments to sellers,  maybe eBay is using a third party to  process the financial transactions / or it takes several days for credit companies to okay the sale?

If the mandatory  NEW " managed payments " business policy is so exciting and beneficial to sellers by enhancing payment options ...  why should sellers be placed in jeopardy for 72+hours? 

Its exciting and beneficial to all sellers if eBay takes on the weight and stress of waiting for the credit card companies to confirm the credit to deposit monies for the amount of sale...to each seller...

I will absolutely  state eBays' NEW mandatory policy  of "managed payments"  the very first statement of my new business policy.  (never had one before)

BUYERS; as per eBays' new business policy for sellers on this platform ... When confirmation of your payment is received by my personal bank, my system is set up to print a shipping label at THAT time, your item will be shipped on that day.

( eBay is now processing your payment. ) 

When using Paypal, all  buyers' labels' will be printed & shipped the same day Paypal receives and confirms payment. 🙂 

I Thank You so much.

I would have been sending my collectible antique books when the payment dollar sign is in bold! WAY before payment into my bank account.!!! THANK YOU!

Haven't decided yet when to open another account.  No more relists, No more  new listings for me.  Where does a girl find the information of possible third party processing transactions, updated encryption eBay is using,  and privacy protections afforded to everyone and non soliciting of all my information on eBay. 

Thank you again.

Respectfully,

Rose 

[rosesbooks2017collection]

eBay is also placing payments / deposits into banks together without itemization? 

Amazon was clear regarding payments. Amazon didn't always pay you. I quit them. 

Wonder if eBay provides a breakdown of each transaction on this site to justify the amounts deposited/vs amount of buyers payments. Slick for eBay to charge you the listing fee if your item sells upon everything else. Its 15% a sale.

PayPal is worth the extra couple cents they charged the sellers for complete transparency and the BEST security anyone could ask for.

respectfully,

Rose

[rosesbooks2017collection]

you bet! 

and if you have two accounts in the same bank...they will transfer funds one account to the other...be careful.

overdraft fees... +

not everyone has the extra $60.00 to climb out of a problem of an overdraft. 

Not now. 

it was fun at first,

The new thing is a copy of how Amazon pays you,...or doesn't pay you. I quit them. 

eBay is creating stress on top of the stress of the covid mess, the lack of regular employment the harassment of unemployment, now for me its... no relists or no new listings.

it used to be fun. 

it used to be fun. 

[rosesbooks2017collection]

What?

no. 

You can choose PayPal. 

This in and out stuff of my account isn't happening.  

You can choose PayPal as the primary account.

I was thinking of opening a second PayPal as my managed payments account? will eBay go for that?

I wonder...

[rosesbooks2017collection]

Yes the use blockchain encryption. The safest place for financial information. Im so disappointed as eBay isn't transparent, and hasn't communicated any upgrades in the encryption and protection of our information.  Do they sell our information and to whom? I was thinking to open a second PayPal account as my "checking" second account to give eBay. Think that will work?

Otherwise, I'm still thinking. No relists or new listings for me per eBay.😶

Respectfully, Rose