Questions from a MP newbie.

[inhawaii]

I'm preparing for my switch to MP.  My switch is scheduled for July.  I think i'm one of the last of the sellers to switch?

Currently all my ebay revenue goes to my paypal account.  Of course my fees get deducted from that account, I also use that account to pay for all my ebay merchandise and supplies. 

Under MP, as i understand it, my ebay funds will go into a designated checking account (not paypal) periodically. 

I already opened up a new checking account just for this. 

When i periodically make purchases on ebay, can i pay with my MP balance? Wait. There wont be a MP balance if that money goes into a checking account?

The more i think about it, it seems like i wont need a paypal account any more.  Any ebay merchandise and supplies can be put on my debit card for my new ebay checking account. 

Can you see me needing my paypal account any longer?

[coastaltechsolution]

As a buyer you can use PayPal for purchases 

[mtgraves7984]

I've been in for over a year-and-a-half, and I keep a zero PayPal balance. I still use my PayPal to buy, though.

[caldreamer]

You still need PAY PAL to make purchases.  Managed Payments is for SELLING only.   MP can be very confusing and I am sure you have more questions (so I included everything I know about MP).

Go to HELP and search MANAGED PAYMENTS you can sign up there. MANAGED PAYMENTS is required if you want to continue selling on EBAY.

With MANAGED PAYMENTS money is deposited into your CHECKING ACCOUNT 3-5 days after sale. EBAY deducts shipping & Ebay SELLING FEES (whatever is leftover deposited in your CHECKING ACCOUNT).

You will need to provide CHECKING ACCOUNT routing# and SOCIAL SECURITY# (for tax purposes). Names must be EXACT MATCH on your checking account, social security and EBAY profile page. If names don't match EXACTLY your application will be rejected and you will be required to provide additional information.

Because money no longer goes into your PAY PAL account..you need to change PRINTING SHIPPING LABELS and Monthly Statement (LISTING FEES) to Managed Payments. Next time you print label (go to bottom of page) and click on box to change to Managed Payments. You need to also change default for Monthly Statement to Managed Payments.

MP is completely different from PayPal. With MP deposits are (NET AMOUNT after shipping & fees deducted). Sometimes one sale will get processed faster than another (possible to get PAYOUT for Wednesday sale BEFORE sale made on Monday). PAYOUT will also lump together sales from different days. Can be very unpredictable and confusing.

[jack_bucks_ghost]

i've kept my PP account active for purchasing on eBay and other sites, but it has a standing zero balance ...my MP bank account is also linked to my PP account, so I still use my eBay money, just in a bit more roundabout way now. since PP seems ot be almost universal now on other sites, i do still use it quite a bit (though i did come across a vendor recently that only accepted Google Pay...just found another seller that accepted PP). 

[mtgraves7984]

Because money no longer goes into your PAY PAL account..you need to change PRINTING SHIPPING LABELS and Monthly Statement (LISTING FEES) to Managed Payments. Next time you print label (go to bottom of page) and click on box to change to Managed Payments. You need to also change default for Monthly Statement to Managed Payments.

@caldreamer , @inhawaii 

This information ^^^ is bad, as 'blanket information' for MP sellers...

The payment method for your shipping labels (and for your monthly invoice) is the seller's choice. I pay for shipping labels from my attached bank account... they're processed through PayPal who debits my account. My monthly statement is paid with a credit card.

While the information might apply to you, it isn't like it must  apply to you. Adapt to what works for you. Good luck.

[southern*sweet*tea]

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@inhawaii wrote:

I'm preparing for my switch to MP.  My switch is scheduled for July.  I think i'm one of the last of the sellers to switch?

Currently all my ebay revenue goes to my paypal account.  Of course my fees get deducted from that account, I also use that account to pay for all my ebay merchandise and supplies. 

Under MP, as i understand it, my ebay funds will go into a designated checking account (not paypal) periodically.  Correct. You can choose daily or weekly. Weekly is better IMO

I already opened up a new checking account just for this. 

When i periodically make purchases on ebay, can i pay with my MP balance?  No. Wait. There wont be a MP balance if that money goes into a checking account? Your available funds will transfer to your bank account. When that happens, your available balance will be zero. You may or may not have pending funds.  You can choose to use your funds to pay for shipping labels, or you can use Paypal for that. You will still have a monthly invoice for store subscriptions, listing upgrades, or UPS or Fedex labels if you are silly enough to buy those labels through Ebay.

The more i think about it, it seems like i wont need a paypal account any more.  Nobody  NEEDS a Paypal account to buy here, and MP sellers don't need one to sell here. Any ebay merchandise and supplies can be put on my debit card for my new ebay checking account.  Yep

Can you see me needing my paypal account any longer?  Up to you.  If you don't have a use for a Paypal account anywhere else, you can get rid of it. Me, I kept mine because I receive payments into it from other internet venues not related to selling. Paypal is NOT a seller's friend.

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[inhawaii]

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@caldreamer wrote:

MP is completely different from PayPal. With MP deposits are (NET AMOUNT after shipping & fees deducted). Sometimes one sale will get processed faster than another (possible to get PAYOUT for Wednesday sale BEFORE sale made on Monday). PAYOUT will also lump together sales from different days. Can be very unpredictable and confusing.

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I did not know that.  So does that make taxes any easier being that the only thing going in to your bank account is NET PROFIT minus fees and shipping? 

[jayjaspersgarage]

PayPal is like a bank to me.  I have a huge credit line to "borrow" against.  I send my daughter money and sometimes get paid for side jobs through PayPal.  I would keep it active.

[chapeau-noir]

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@mtgraves7984 wrote:

I've been in for over a year-and-a-half, and I keep a zero PayPal balance. I still use my PayPal to buy, though.

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This ^^  I use Paypal simply as a payment processor now.  A seller in eBay MP can accept a variety of payment types including Paypal, and to purchase you don't need to have a balance in Paypal if it's linked to credit or debit.  On here, once I made a refund and that left me with not enough in my MP pending payouts for a shipping label (I'm very small time these days) so I just shifted to Paypal for that particular label.

FWIW, just in my own personal experience, more B&M places take Apple Pay or Google Pay than Paypal, but many, many websites take Paypal, so it's useful to keep your Paypal account.

[southern*sweet*tea]

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@jayjaspersgarage wrote:

PayPal is like a bank to me.  I have a huge credit line to "borrow" against.  I send my daughter money and sometimes get paid for side jobs through PayPal.  I would keep it active.

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Just be advised Paypal is not a bank and your money is not Federally insured. If something happens, your money is G.O.N.E.  Don't keep a lot in there.

[chapeau-noir]

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@jayjaspersgarage wrote:

PayPal is like a bank to me.  I have a huge credit line to "borrow" against.  I send my daughter money and sometimes get paid for side jobs through PayPal.  I would keep it active.

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I would never keep any more than a couple of hundred in Paypal for the exact reasons that @southern*sweet*tea mentions.  But I agree, it's really useful for receiving various payments, sending money to people for services, theatre tickets and the like.  A lot of contracting jobs send your money to Paypal.  Definitely worth keeping active.