Payout settings

[gmcblue]

Finally caved (actually forced) to sign up for Ebays Managed Payment Program.  I am sure that this has been asked before but I could not find any post on it.  After I signed up I went to the Payments Section and selected payout settings so i could set up how often to get paid from Ebay.  It did not give me the option of Daily or weekly,  just a lot of how it works, etc.  Do you actually have to have sold something first to be able to set up the payout frequency? Not sure how I am going to like this because I have never, never accepted credit cards before.  To easy to scam the seller that way.  I will give this a chance but I have seen the horror stories on here.  Ebay should have hired and trained more employees before implementing something of this scale.  

[caldreamer]

To change Payout Settings go to PAYMENTS (tab) and  select PAYOUT SETTINGS.   I see your account is active for MP (that's good).    Because MP can be confusing at first...I have included all the info that I know about MP.

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

To enroll in MP 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 PayPal account....you need to change SHIPPING LABELS and MONTHLY STATEMENT 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 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.

[ronsam-197]

@caldreamer 

You keep posting this - "You need to also change Monthly Statement to Managed Payments."

What are you talking about? Your monthly invoice (if you still have fees which aren't deducted at the time of sale) doesn't come out of your MP funds, it comes from whichever source you have selected for them to be paid from.

[caldreamer]

No, that is a glitch in the system (LISTING FEES and PRINTING SHIPPING LABEL will continue to be deducted from your PayPal account until  you manually change setting to MANAGED PAYMENTS.    What automatically comes out of MP is the SELLING FEES.

And since no money is going into your PayPal account that will be a big problem.

[southern*sweet*tea]

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@gmcblue wrote:

Finally caved (actually forced) to sign up for Ebays Managed Payment Program.  I am sure that this has been asked before but I could not find any post on it.  After I signed up I went to the Payments Section and selected payout settings so i could set up how often to get paid from Ebay.  It did not give me the option of Daily or weekly,  just a lot of how it works, etc.  Do you actually have to have sold something first to be able to set up the payout frequency? No, I set mine to weekly before the first sale came through.  Not sure how I am going to like this because I have never, never accepted credit cards before. Yes, you have, through Paypal. Half or more of the payments you ever received were made with a credit card, either directly or through Paypal. To easy to scam the seller that way.  I will give this a chance but I have seen the horror stories on here.  Ebay should have hired and trained more employees before implementing something of this scale.  

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• I chose weekly payouts. My payout is sent every Tuesday morning, and is in my credit union account no later than midnight the same day. I use Navy Federal Credit Union.
• FVFs come off the top. Your monthly invoice will be billed to your payment method on file. The only thing you should have on your monthly invoice would be store subscriptions or any listing upgrades. (or Fedex or UPS if you are silly enough to buy your labels for either through Ebay.  It's far better to use your own Fedex or UPS account.)
• When you print your shipping labels, you can choose to have the funds pulled from your payouts, or from Paypal. Some sellers choose this and fund their Paypal via their credit card to get reward points from their CC. Me, I just pay from my pending payouts.

[mtgraves7984]

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@caldreamer wrote:

No, that is a glitch in the system (LISTING FEES and PRINTING SHIPPING LABEL will continue to be deducted from your PayPal account until  you manually change setting to MANAGED PAYMENTS.    What automatically comes out of MP is the SELLING FEES.

And since no money is going into your PayPal account that will be a big problem.

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@caldreamer 

I've noticed the misinformation you post, too. For you and others reading this...

All MP sellers have the ability to pay their monthly invoice from the bank account they've attached... but they don't have  to. They can be paid using a credit card... just set it as your Automatic Payment method. This is a good 'workaround' to cover a seller from refunds... the refunds can be charged to the CC, instead of pulled from the attached bank account.

As to shipping labels... again, that is up to each seller. They can pull the shipping fees from Pending payouts, or can run them through PayPal... paying with any method they select from their PayPal wallet.

You are correct in that the FVFs are deducted from the sale before the bank deposits. You are wrong in that keeping a zero PayPal balance will be a big problem. I've been in MP since August, 2019 and have operated with a zero balance... trust me, that's no problem.