Managed payments

[njsmirk]

I've been with ebay for almost 10 years now. I have an above average rating and I've been very happy with everything. Now this Managed Payments has caused me for the first time , to consider closing my account.  I don't know what transpired between ebay and paypal but I was happy with it and I 

don't care for the idea of having my personal bank account wide open to ebay.  There are too many changes going on with Our Government right now and this just feels like one more way of being manipulated into loosing all control . I'd like to know how others feel about this new policy. And if there are no other options I will definitely close out.

[postingid7659]

Get a free checking account with an online bank.  Use that for eBay.  Once funds hit transfer to your regular checking.  

[2013grotz]

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@njsmirk wrote:

I'd like to know how others feel about this new policy. And if there are no other options I will definitely close out.

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There's threads all over the place where Managed Payments has been discussed ad nauseam.   And speaking of the government, they will want your tax information in part of signing up, as there will be a new tax liability coming up for any online activity (>$600).

Your options are either to mitigate all the new risks Managed Payments represents (one mitigation being getting an account just for ebay), or quit selling on ebay.

[downunder-61]

They have already switched you to MP, so if you sell any of your items now the only way to get paid will be to provide what eBay are requesting, sorry.

[forward-motion]

I'm not sure what selling on ebay and the government has to do with anything.  

Times change, things change. You change to move forward or don't to go back. 

I opened a new account just for ebay, things work like clock work. I get daily deposits. 

There are other options, you don't have to give them your personal account. Open a separate account just for ebay. I have been with MP for about a year now, it took some getting used to. Sure paypal was great, we loved the instant payment. But that is gone, never to return. If you would like to keep selling on almost any platform today this is what you will have to do. It's just an adjustment, nothing crazy happens. It works for me. 

[njsmirk]

This new tax  you speak of, is this like a fee or a bond? I'm not clear on that. I'm not a volume seller, its more of a hobby for me.

[decodude]

It's the worst thing eBay has ever done. Not only for the reason you state, but holding the funds from the sale hostage for days is a new low, even for them.

[kensgiftshop]

@njsmirk 

Since I want to continue to sell here, I don't have a problem with Managed Payments.

[coastaltechsolution]

You have a choice, sign up for MP or do not

Please do not make this political as it does not need to be

eBay moved to MP so if you want to sell here then sign up like millions of sellers have already, or do not sign up and just purchase.

You have been with eBay for almost 10 years, there are people here since 1997 so what makes you special above them? 

[slippinjimmy]

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@njsmirk wrote:

This new tax  you speak of, is this like a fee or a bond? I'm not clear on that. I'm not a volume seller, its more of a hobby for me.

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There is no "new" tax, the poster was referring to the new requirements to issue 1099K's for anyone selling more than $600/year (starts in  2022).

The only thing "new" is that the pretty easy ability to evade, (fail to report), Income Tax liability will be coming to an end.

[maxine*j]

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@njsmirk wrote:

...  if there are no other options I will definitely close out.

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There are no other options.

=

[coastaltechsolution]

@slippinjimmy 

correct, those that have evaded paying taxes will be under the radar of the IRS now

Funny how they are angry at everyone now because for years they evaded paying taxes and now must pony up 

They are the ones angry but those of us that paid our taxes all these years are not supposed to be upset , ever  

[inhawaii]

Wow you've been here almost 10 years?  Maybe you are eligible to opt out of managed payments?

[coastaltechsolution]

@inhawaii 

Been here since 2000

why cannot I opt out out of MP? 

Is this a Millennial thing? 😁 

[inhawaii]

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@decodude wrote:

It's the worst thing eBay has ever done. Not only for the reason you state, but holding the funds from the sale hostage for days is a new low, even for them.

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No, the worst thing ebay has ever done was back when they required all of us to sign up for this new fangled "electronic" payment system instead of sending a paper check. Oh wait, that was the worst thing ebay has ever done back then.