Ebay Managed Payment System 2 2

[BishopT]

Now I know what was throwing me off about the arrival of payment... if you have sales on a Thursday, then your payment won’t be processed by eBay until Monday morning (I received the “we’ve sent your payout” message at around 5:40 am yesterday, it’s usually around 6 or 7 am) and personally showing up in my account early Tuesday morning (today it was around 1 am). 
 

If you have any sales between Friday and Sunday then those payments won’t get processed by eBay until Tuesday, and now I’ll check if the funds arrive in my account at a similar time as today.

Not sure how eBay will handle 3 day weekends and holidays like Thanksgiving coming up, but I guess I’ll find out sooner rather than later.

[rsouxlja7]

Seems like my fee rates are hovering between 14-15%. I thought I would be saving money since there's no PayPal fee lol. 

[Action252Kid]

12 hours ago, Lightning55 said:

Here's a tip: Don't do what I just did today. 

I needed to change my Managed Payments destination checking account.  I opened a new business account at the bank a few days ago, and then I made the change on eBay. 

It will take them at least 48 hours to approve the account changeover.  In the meantime, they PAUSE YOUR PAYMENTS completely, no longer sending to the old account while they check on the new one. 

My 2 heaviest deposits are on Tuesday and Wednesday when they pay out from weekend sales.  So that's on hold for a.... while??? 

No warning like "If you change your account, payments will STOP until we figure out the transition."  Nope, just letting me know AFTER the fact in an email.  Stuck now.  It's a company that just keeps giving you reasons to HATE THEM. 

If I had known, I could have waited 2 days and done it during SLOW paydays.  And now you know.

Frustrating for sure, but also somewhat reassuring in case someone got into your eBay account and switched the bank info over to an account that wasn't tied to you.  

[Action252Kid]

1 hour ago, BishopT said:

Now I know what was throwing me off about the arrival of payment... if you have sales on a Thursday, then your payment won’t be processed by eBay until Monday morning (I received the “we’ve sent your payout” message at around 5:40 am yesterday, it’s usually around 6 or 7 am) and personally showing up in my account early Tuesday morning (today it was around 1 am). 
 

If you have any sales between Friday and Sunday then those payments won’t get processed by eBay until Tuesday, and now I’ll check if the funds arrive in my account at a similar time as today.

Not sure how eBay will handle 3 day weekends and holidays like Thanksgiving coming up, but I guess I’ll find out sooner rather than later.

I think payments from the actual holiday (one day) get pushed back a day, the rest of the payments come through on their normal schedule.  Saw this myself for (I think, Columbus Day?).  Instead of getting Sunday night sales paid out Tuesday/in bank on Weds, they were paid out Weds/in bank on Thurs, and Monday night sales were paid out on Weds/in bank on Thurs like usual, if this makes sense.

[Robot Man]

I finally received the notice about a week  ago. Been dreading this...

I am just a real small fry on eBay. I occasionally sell comics, toys and other vintage memorabilia. Stuff I pick up (or used to at flea markets, estate sales and thrift stores). Stuff I can make a little profit on to mostly fund my collection. On occasion to pay a few bills or house/car repairs. 

I use PayPal as a “bank account” for this. My wife and I long ago agreed to keep our household and hobby finances separate. Thusly, my collection has always for the most part, paid for it’s self. 

Now this boundary looks like it will be have to be crossed. I will have to open a new separate account or roll payments into my existing account and probably transfer funds BACK into my PayPal account. This is will of course, irritate my  wife. She is the “money person” in our household. 

Since I don’t sell a lot (although I have been a little more active during this pandemic with not being able to sell at live shows). 

Not worried about the fees as it appears it won’t make that much difference anyway. But a question. Does eBay send me notification when they deposit money into my account? Other than bugging my wife, how will I know when these funds are available? Once they are, I can transfer back to PayPal. 

I’ve seen this coming for years. eBay has been going down hill as both a seller and a buyer for quite a while. Taxes, fees, inconvience. But it is still a necessary evil I probably have to put up with...

[ThothAmon]

12 minutes ago, Robot Man said:

I finally received the notice about a week  ago. Been dreading this...

I am just a real small fry on eBay. I occasionally sell comics, toys and other vintage memorabilia. Stuff I pick up (or used to at flea markets, estate sales and thrift stores). Stuff I can make a little profit on to mostly fund my collection. On occasion to pay a few bills or house/car repairs. 

I use PayPal as a “bank account” for this. My wife and I long ago agreed to keep our household and hobby finances separate. Thusly, my collection has always for the most part, paid for it’s self. 

Now this boundary looks like it will be have to be crossed. I will have to open a new separate account or roll payments into my existing account and probably transfer funds BACK into my PayPal account. This is will of course, irritate my  wife. She is the “money person” in our household. 

Since I don’t sell a lot (although I have been a little more active during this pandemic with not being able to sell at live shows). 

Not worried about the fees as it appears it won’t make that much difference anyway. But a question. Does eBay send me notification when they deposit money into my account? Other than bugging my wife, how will I know when these funds are available? Once they are, I can transfer back to PayPal. 

I’ve seen this coming for years. eBay has been going down hill as both a seller and a buyer for quite a while. Taxes, fees, inconvience. But it is still a necessary evil I probably have to put up with...

My account switched over in August and it has been seamless. They don’t hold onto the money long and it is automatically deposited into my chosen bank account. They send notice but it happens within a day or so of receiving money.  Not sure how much control you have on how they do it.  Worst part for me is I never have a PayPal balance to play with anymore. 

[BishopT]

2 hours ago, rsouxlja7 said:

Seems like my fee rates are hovering between 14-15%. I thought I would be saving money since there's no PayPal fee lol. 

My fees are normally ending up 13-14%. To calculate how much I should receive total, usually multiplying total cost (not including tax) by .862 gets me close to what shows up in my account.

[Robot Man]

18 minutes ago, ThothAmon said:

My account switched over in August and it has been seamless. They don’t hold onto the money long and it is automatically deposited into my chosen bank account. They send notice but it happens within a day or so of receiving money.  Not sure how much control you have on how they do it.  Worst part for me is I never have a PayPal balance to play with anymore. 

That is what I’m trying to avoid. My PayPal money is my money for whatever I choose to use it for. I don’t spend money out of my household account on my collection. If I know the money is in my account, I can transfer it back to PayPal. 

I don’t need eBay money to pay my bills. But if the money goes into my account and I don’t know about it, it’s probably lost to me and there isn’t much point in bothering to sell on eBay. 

Haven’t decided to open a new account just for this yet. Really don’t want to do it, but bugging my wife for my money isn’t a process I want to deal with. 

I can still sell comics here with no problems but it’s the “other stuff” where eBay is the best venue for me. 

I’m sure you married folks know what I am saying here. She could care less about the money but having her  dealing with it is an option I’d rather not go to...

Edited November 24, 2020 by Robot Man

[Lightning55]

@ThothAmon  I would recommend opening a new checking account, and many are free without a monthly fee, or have some way that you can get the fee waived.  With that, you can get a debit card for that account.  Put you debit card on eBay as your preferred payment method. 

The checking account / debit card together act like your PayPal account.  Money will be funneled into your checking account via MP.  Your purchases on eBay will come out of that account via the debit card. 

And yes, you do get notification emails when funds have been sent.  You also can see the progress of the pending payments in your Summary view.  You might check in the morning and it says $860.63 total, $248.99 available.  Later that day, if nothing sold, it would have the same total, but maybe $487.89 available, as things clear.  Whatever is available at the end of the day is transmitted the next day, notice sent.  Usually ends up in your account the next business day after transmittal.

Edited November 25, 2020 by Lightning55

[spracknetch23]

Finally got the email. Not a fan of how they need your SSN and bank account info. Considering stopping selling on Ebay altogether..but there is really no equal alternative, even after 20 years. In all my years on Ebay, I've never come close to the $20k threshold, and now they need your SSN even for small sellers? 

[Ride the Tiger]

I'm not opening a new account just to sell a few comics. I'm done on the bay and will sell elsewhere. 

[BishopT]

“We Ran Into a Problem

Your payout didn’t go through...”

 

Got this message this morning, a google search brought me to a thread on eBays community forum where it appears this has happened to multiple people today. Waiting for a resolution or at least some sort of response from eBay, it has been nigh impossible to get ahold of them in the last few months so I’m not even going to try right now.

Anyone here getting this as well, today?

Another great improvement with the Managed Payment system!

[Motor City Rob]

53 minutes ago, BishopT said:

“We Ran Into a Problem

Your payout didn’t go through...”

 

Got this message this morning, a google search brought me to a thread on eBays community forum where it appears this has happened to multiple people today. Waiting for a resolution or at least some sort of response from eBay, it has been nigh impossible to get ahold of them in the last few months so I’m not even going to try right now.

Anyone here getting this as well, today?

Another great improvement with the Managed Payment system!

Yes, got the same notice this morning. I'm on the phone with them right now...on hold. 

[AndyFish]

On 5/8/2020 at 7:34 PM, fastballspecial said:

Id would just like to see some data on internationals sales vs the GSP program.

My international sales have fallen off as postage keeps rising. I am not convinced
the GSP is the answer. 

All right so I've been on eBay, selling, since the very start, so I've seen a lot of ups and downs.   I stopped shipping Internationally a few years ago because of the hassles all of which have been mentioned above.  The worst for me was I would more often than not have to go back and forth with the International Buyer in trying to come up with a ship price.   They'd want the cheapest possible option, they'd want me to lie on the value for customs (which I would not do) and then after getting that cheap option email me daily asking where the item is.   So I stopped.   A good friend who has been on as long as I and runs his eBay shop full time reached out to me and suggest GSP-- I was suspicious but I've been using that for about a year and it's absolutely hassle free.   I ship it to Kentucky and wipe my hands of the whole thing, eBay does the rest.   This friend who suggested it is even more of a stickler than I am, he was a reluctant PayPal adopter, so when he advises something I have faith in it.  GSP changed the whole international game for me.  

Using it has affected my International sales 0% while making hassle free transactions go up to 100%.

If that becomes unworkable no more International for me again.

As for eBay itself, there's really no substitute.   I put a great vintage toy up on Etsy, it sat there for three weeks.  When I put the same thing up on eBay for a BIN it sold almost as soon as I listed it.

Same thing with a Spidey #5 CGC slab-- crickets everywhere but instant notice on eBay.   I'm surprised no one else has come along.   But in terms of eBay fees they are still cheaper than Amazon and it puts them in line with most other options.  Cost of Doing Business if I opened a brick and mortar business would probably give me margins of 30-35% if I do really well, with eBay my margin is 75-80%. If you want the cheapest option, try having a yard sale, but don't be shocked when the right buyers don't come along.

Edited December 2, 2020 by AndyFish

[1Cool]

1 hour ago, BishopT said:

“We Ran Into a Problem

Your payout didn’t go through...”

 

Got this message this morning, a google search brought me to a thread on eBays community forum where it appears this has happened to multiple people today. Waiting for a resolution or at least some sort of response from eBay, it has been nigh impossible to get ahold of them in the last few months so I’m not even going to try right now.

Anyone here getting this as well, today?

Another great improvement with the Managed Payment system!

I got the same message but I've gotten probably a dozen money transfers already which didn't have any issues.  I'm hoping it's just a bug that they will correct but keep us informed how it goes for you.

[wilbil]

check to make certain it is not from: info@newspark.net.ua (all lower case no spaces).

[Motor City Rob]

It's in my ebay mailbox and they see it as well. Unfortunately, while on the phone with them, they transferred me to the Managed Payments team and I was on hold for 30 minutes before I hung up. I don't even know why I try.

[Motor City Rob]

Ebay just sent an email saying the issue has been resolved and payouts have been sent. Assuming anyone else that had this issue got the same email.

[cortown71]

I think this is the perfect opportunity for an ebay alternative to start up. 

[Gaard]

I've bought, sold, and listed comics all within the last week. All using PP. I still haven't signed up for this Managed Payments thing. As far as I know, I've never even received a notice.

I can't be the only one.