Managed payments SUCK

[lv-live365]

This new payments system sucks. I don't get my money right away & it's not going into my paypal account. It is screwing up my accounting and making it harder to pay for shipping as I have to transfer money into my paypal to pay for shipping. I don't know which items they are giving me my money for. They get to hold onto it in their bank and are making millions on interest while they have it thinking we are stupid and have no idea what they are doing. It is making things so much harder to sell on here. No wonder the honest dealers are leaving, I'm about to call it quits as well. I want to handle my own funds. I'm not a 14 year old that needs help managing his money. Tell eBay to GIVE us back our MONEY!

[rainbowpinups]

I agree 100%. Managed payments is nothing but a money grab for eBay. There is little or no benefit for sellers.

Plus, eBay is eliminating the Adults Only category. It could be said that eBay lied to us last fall and early this year when they said all categories would eventually be incorporated.

We can't sell what our customers want, we have to pay more in fees, and they get to float our money from Thursday until Tuesday.

Managed payments may be a good deal for eBay but it is a reeky bad deal for sellers.

[rainbowpinups]

Many sellers like me have items drop shipped by a third party. MP requires us to wait for the cash while eBay earns the float. Good deal for eBay, bad deal for many sellers.

[rainbowpinups]

Dude, if eBay doesn't earn interest on the float then who does? The money is not under a mattress.

[rainbowpinups]

Correct!

[rainbowpinups]

The guy complaining is right! With PayPal, when mu phone said, "cha-ching" it meant I had money in my PP a/c and could spend it immediately. When eBay holds our money for five days something is wrong. That something is MP. It's a bad deal for sellers.

[jamrod-6700]

Yes, I think so

[rainbowpinups]

MP deserves to have shade thrown on it. It's a bad deal for sellers, period.

[rainbowpinups]

Correct! We have been hosed.

[jamrod-6700]

Yes, I think so😀

[rainbowpinups]

When you add the 30 cents plus the 12.55% on a $10 item, the new fees are way higher at 15.55%.

We are getting hosed.

[jamrod-6700]

Yes, I think so

[jamrod-6700]

thank you for that.❤️

[theteamsetguy]

But Paypal is not a bank.

[mam98031]

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@rainbowpinups wrote:

When you add the 30 cents plus the 12.55% on a $10 item, the new fees are way higher at 15.55%.

We are getting hosed.

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@rainbowpinups 

Not exactly.  The 30 cent fee is the same on a sale for $1.00 or $1,000.00.  So adding the 30 cent to the amount and then divide it to give you a percentage is simply not factual.  It will change on most every transaction.

BTW, PayPal also charges a 30 cent per transaction fee and in fact PP is raising that fee to 49 cent per transaction on August 2nd, along with other fee increases.

The fees in MP have NOT increased overall fees. The following numbers represent those that do not have a store and the fee rate for most common categories [not all].

Fees BEFORE going into MP
10.20% FVF + 2.9% PP fees = 13.10% plus 30 cent per transaction fee.

In MP the fees are:
10.20% FVF + 2.35% money processing fee paid to MP = 12.55% plus a 30 cent per transaction fee.

[mam98031]

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@theteamsetguy wrote:

But Paypal is not a bank.

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@theteamsetguy 

You and a couple others are responding to year old posts.  This is a very long thread.  Some things have changed since this thread was started.