managed payments are simply the worst thing to ever happen to eBay

[capitalcustoms]

I hate the whole managed payments change.  I held off until I was forced by eBay to switch.  My account converted over on the 2nd of September and now here it is the 8th and I still haven't received my first deposit from the almighty bank of eBay. This after all of the work I had to do to go create a new business checking account and prove that I have a legitimate business registered with my state.  Every single day it lies to me and every day I believe the dark overlord when it tells me that my next payment will be tomorrow.  What a crooked and broken system I have been forced to adopt.  I absolutely hate eBay for this not that they care.  Small businesses like  mine simply cant wait a full week to get the money from the things that I have made and sold.  This is utterly awful.  I did not ask for this, I did not want this change.  Only the corporate fat cats at eBay will be better off from this in the end.  Thanks for listening I know that I am not the only one.

PS pay pal never once screwed me over like this in 10+ years of using it!

[oldtoolbarn]

I am in complete agreement with you. So far it has been 18 days, and I have received no payouts yet. I have received feedback for items shipped back as far as August 22nd, but no money has been seen yet. It has been almost 3 weeks that our money has been sitting as "available funds", but no payout as of yet. After contacting customer care, I was told that there is a "bug" that needs to be worked out, and it may take another 48-72 hours. Seriously? Best of luck to you.

[mystryman_1]

I agree with your assessment wholeheartedly! They are telling us this managed payments scheme will modernize the platform. In reality it has put us back in the dark ages of banking. A small business cannot survive waiting 10 days to be paid. We are now paying over 12% EBay fees and what are we getting back for the increase? An antiquated banking system where we have to wait to get paid. With PayPal we got paid immediately! And did we get a chance to opt out of this new system? NO! I want to go back to using only PayPal so I have access to MY EARNED money immediately! We need to start a movement with other Ebayers to try and force EBay to at least allow those who want to opt out of this terrible “managed payments” system.

[retailtechoutlet]

We started using managed payments in August and haven't had any issues, deposits are made within a few days of purchase and so far no issues.

[capitalcustoms]

Glad to hear that is working out for somebody.  It is now the 11th and I just got my first actual deposit since starting on the 1st.  This is a horrible way to support the 12% that eBay is taking from me.  I also dont unserstand why it takes 4 days to go into my bank account after eBay claims it has been deposited.  PayPal never took more than a day.  Often it would fund on the same day if I made the withdrawal soon enough.  I also had a paypal debit card so accessing my funds literally instantly was never a problem.....now a 10 day wait.  This 10 day delay is literally going to kill some businesses....the same businesses that float ebays boat day in and day out. 

[jameshen1]

If you think that managed payments is the worst thing to ever happen to eBay, you have not been on eBay very long!

[jimbo2053]

Hi I agree.Do you know another site we can sell on?

[xrdv8]

Completely agree!  I've been on Ebay since 1998 and EVERY change they make costs me more money and time as a seller! Too bad management at Ebay does not want to grow the revenue through expanding their market versus charging the seller more to sell....

[xrdv8]

I'm starting to more more towards Facebook Marketplace or Craigslist for some items.

[guidoslibido]

I also agree with all of the oposition to "Managed payments". I think that ebay is setting us up for the government to run our business for us. I am only selling my personel belongings to supplement my Social Security check. Not running a business at all. Now ebay wants my SS number and my bank account information. It won't be long before ebay gets hacked and we all have our information out on the web. My only safety will be in opening a non-business just so I can keep my SS number safe. I am selling my own junk to make ends meet. This s**ks.

[muskingum_relics]

it is more like ebay is taking the sellers business and making it theirs !! I refused to sign up for that garbage ! Yes they restricted me from selling but I would rather not sell than to have ebay be my boss !! This is for ebays benefit not the sellers !!

[mam98031]

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@guidoslibido wrote:

I also agree with all of the oposition to "Managed payments". I think that ebay is setting us up for the government to run our business for us. I am only selling my personel belongings to supplement my Social Security check. Not running a business at all. Now ebay wants my SS number and my bank account information. It won't be long before ebay gets hacked and we all have our information out on the web. My only safety will be in opening a non-business just so I can keep my SS number safe. I am selling my own junk to make ends meet. This s**ks.

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I know for some this is an objection they have because they don't want their money from Ebay sales going into their bank accounts for various reasons.  One very likely similar to yours.

However it is important to remember that whether the money you earn on Ebay is going directly into your bank account or it is going into PP, you are still suppose to be claiming this as income on your tax returns.  Your own junk or not.  That income has to be shared with IRS offset of course by your costs.

Every single transaction on Ebay is a business transaction, there are no personal transactions on Ebay.  That doesn't mean you have to be set up as a business, you can just operate under your own name as a sole proprietor without having legal paperwork done for you.  

Ebay has had financial information on sellers for many years.  To sell on Ebay you have to designate a back up funding source, so that may be a bank account, CC, DC, or even PP.  So there is no legit reason to believe that just because you enter MP that somehow it is at a higher risk.  

@guidoslibido 

[muskingum_relics]

no matter how you want to slice it it is still a unwanted or needed mess ! Sellers are simply getting sick of ebays management and with good reason. The changes are for ebay not the sellers !! You just cannot excuse away the stupid management of ebay !!

[redlmc]

Those of you that are in MP, did you start a new bank account or use your existing one?  I am not in MP yet; 10/15/2020 is my deadline to change.  

Really do not want eBay to have access to my checking account.

Additionally, can it be a savings account?

[redlmc]

I am holding off as long as possible.  When forced, I guess I will get a new bank account that only has eBay business, though I do not do that much business.  

Really fearful of eBay having access to my regular checking account.  

Just seems like a big opportunity for a horrible glitch.