Payments going to bank now instead of Paypal?

[seksipaprika]

Im not found of this new payment switch ebay is pulling. Now instead of having our payments go to paypal and being able to pay the 1% to get the money instantly, now we have to get paid to our bank and wait 3-4 days. Im really unhappy about this. Is there anyway to opt out of this new payment way and go back to the old way? Is there any way to expedite the payments faster than a 3-4 day wait of waiting for it to be delivered to the bank? Can anyone shed some more light on these new changes and give some good advice of having access to my funds same day the way the old method did? 

[mtgraves7984]

Can sellers opt out?  No.

Can sellers expedite payments?  No.

Can sellers have access to funds "the way the old method did?"  No.

Welcome aboard.

[lamber9347]

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@seksipaprika wrote:

Im not found of this new payment switch ebay is pulling. Now instead of having our payments go to paypal and being able to pay the 1% to get the money instantly, now we have to get paid to our bank and wait 3-4 days. Im really unhappy about this. Is there anyway to opt out of this new payment way and go back to the old way? Is there any way to expedite the payments faster than a 3-4 day wait of waiting for it to be delivered to the bank? Can anyone shed some more light on these new changes and give some good advice of having access to my funds same day the way the old method did? 

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This platform has simply changed the manner in which they handle payments, that's all it is. No, there is no way to continue to use PP, that is not an option. Managed payments was announced over a year ago and has slowly been rolled out to sellers in waves. This isn't a new payment switch. From what I've seen there is no way to get access same day as MP is different from PP. It's just the way it is if you want to continue to sell using this platform. Best of luck to you.... 

[davis47]

I'm in the same boat... very concerned that eBay wants my bank information and also wants to share it with a foreign bank. Its my understanding that your supposed to make the move this month, but then I've also heard that you don't have to make the switch until 2023? I guess it'll be time for me to stop selling on eBay and use FB Marketplace and Craigslist. Plus I'm sure other venues will become more widely used.

I don't use my bank account for _ANYTHING_ eBay oriented its only registered because they forced us to link an account.

[house-of-goodies]

I'm extremely annoyed and concerned about the overall slowness of being paid by having it deposited to my bank account and not process via PayPal, which was instant.  1)  it's another website I do NOT need my social security number to be sitting in 2) just because the money was "paid" by the seller - how do I know their funds are good?  How do I know that they won't attempt to cancel before I ship the product 3) If the funds aren't in my hand (in cyber space en route does not count), why am I required to ship a paid item within 3 days or whatever agreed upon time with no guaranteed I'm safe to sell it?   This change does not appear very well thought out.  I'm seriously considering ending all my auctions and going to another platform.  

[divwido]

I remember payouts from PayPal as being super slow.  And then, if you wanted to move the money to your bank took a week or more.

I like this so much better.

[divwido]

No, actually, most of them have their own managed payments with no plan B.

[rebell45]

First, Adyen is not a foreign bank. They are a foreign payment processor.

Second, sellers are being phased in over time, but they are trying to get everyone done by the end of this year. The eBay PayPal agreement expired last year. The 2023 date is when their current allowing buyers to use PayPal as a payment method agreement expires.

Third, the only reason that I can think of that eBay would force you to register a bank account is to put you into Managed Payments.

[ferguson4426]

I agree with your assessment of the new eBay payout system. One of the real attractions of selling on eBay, despite the fees, was the ability to be paid immediately. Now you have to ship the item before actually receiving the funds (or delay shipment for about a week); on several occasions my items were delivered to the buyer a couple days BEFORE the money showed up in my account.  So much for a quick sale when you need cash fast! A sh*tty decision by eBay IMO, that will surely cost them some sellers. 

[therustygardener]

I am concerned about meeting my shipping deadline of 1 business day when payment doesn't even hit my account for up to 4 days... Somehow that just doesn't seem right. I have a valuable item to ship. I am not a mega seller. I am a peon selling estate items. THIS SUCKS. 

[kensgiftshop]

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@davis47 wrote:

I'm in the same boat... very concerned that eBay wants my bank information and also wants to share it with a foreign bank. Its my understanding that your supposed to make the move this month, but then I've also heard that you don't have to make the switch until 2023? I guess it'll be time for me to stop selling on eBay and use FB Marketplace and Craigslist. Plus I'm sure other venues will become more widely used.

I don't use my bank account for _ANYTHING_ eBay oriented its only registered because they forced us to link an account.

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You'll have to switch over when Ebay sends you an invite.

If you don't sign up by the date they give you, they'll shut you down.

[kensgiftshop]

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@house-of-goodies wrote:

I'm extremely annoyed and concerned about the overall slowness of being paid by having it deposited to my bank account and not process via PayPal, which was instant.  1)  it's another website I do NOT need my social security number to be sitting in 2) just because the money was "paid" by the seller - how do I know their funds are good?  How do I know that they won't attempt to cancel before I ship the product 3) If the funds aren't in my hand (in cyber space en route does not count), why am I required to ship a paid item within 3 days or whatever agreed upon time with no guaranteed I'm safe to sell it?   This change does not appear very well thought out.  I'm seriously considering ending all my auctions and going to another platform.  

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I've been using the same program on another site for a few years and I ship same or next day and I've never had a payment not go through.

[babycakescloset]

^^^^^THIS!

Is exactly why I am leaving eBay. I finally got my emails to change my accts over to managed payments and my answer is a big NOPE!