Ebay Managed Payments

[Donegal]

I have been informed this morning by Ebay UK that they will be starting to move sellers onto the Managed Payments system and that by the end of 2020 all payments will be paid directly into our bank account and no longer will be paid into Paypal.

How will this affect those of us who are using Paypal Working Capital loans that depend on the payments going into our Paypal account?

[Kevin_Roberts]

Agreed/

[andreeaktm]

Hi, Yes, PayPal will still have a button on eBay, and yes, payments will be instant. However, all payments, including the PayPal ones, will be processed by eBay, they’ll hold the money for 2/5 working days (Including PayPal money), only then, moneys will be transferred to your registered bank account. PayPal payments will go to eBay first, then to us via bank transfer. This is outrageous, instant payment to eBay who’s gonna keep our money for a few days to be used on trading currency etc. This new payment system is going to only benefit eBay to increase their capital, for us the sellers, it’s going to put a ‘dent’ into our cash flow and ‘kill’ our ability to borrow money from PayPal working capital.. Very worried about this, has giving me sleepless nights as there are no alternatives, we are just being forced into this new payment system, very detrimental to my business which is purpose build around PayPal and fast access to my own money.. I have been nearly every day into eBay and PayPal customer service, asking lots of questions are receiving vague or useless information.. All in all, it’s ‘recommended’ to enrol as early as possible onto the eBay Managed Payments, so they can carry on checks for ‘ money laundering’ and avoid future payment disruptions, but will become ‘ mandatory ‘ for all business accounts, towards the end of 2020. As the saying, all good things come to an end, we can now wave good bye to accessing our money instantly and taking affordable loans via PayPal.. 🤯🤯🤯

[Chelski]

Anyone have any idea on how Paypal will handle all the Ebay sellers that have working capital loans, but suddenly have no transactions going via Paypal. Will there be a mass calling in of loans from Paypal from all the ebay sellers that now have no sales going via the platform.
I have just taken out one, so just wonder what everyone thinks might happen.

There is a minimum payment that has to go via the loan account every so often, so I wonder if that will be OK to do as a transfer to pay it off.

[Kevin_Roberts]

Sorry, no idea. I take advantage of those loans also. See previous post, PayPal will still be an option at checkout, and you can always transfer funds or make payments on the loan from anther acc't. I hope you will ask eBay this question though, just so they know we're very unhappy.

[tommy2tone1]

pp will be an option for payment by buyers as method if you opt in to mp,i'm keeping pp myself not taking the bait.

[tommy2tone1]

make minimum payment your ok but don't  think you can get them after you opt in to mp

[Chelski]

I am based in Australia and the other day I received notification that I can make payments direct from my bank account to my Paypal WC Loan, which as far as I know has never been an option before.
Takes 2-3 days to hit Paypal Account, I tried a test one with $20 AUD and was very simple to do.
So if they leave that option available to us, at least we can make regular payments from the WC loan.
How we go about getting another WC Loan is another thing

[Kevin_Roberts]

Thanks for that info. I hope it will be the same here in States.

[SamIAm42]

I use Paypal working capital loans all the time.  I use paypal to move money to my bank and pay other sellers and so on.  This is terrible.  Why can't PayPal create a Banking System for Ebay Sellers to deposit our money into.

[Kevin_Roberts]

Yes, I'm concerned as well, and yet to hear a single person come out in support. I'm going to start a thread in eBay forums called 'The Joy of Managed Payments' and ask Sellers to share success stories. I'm going to try NOT signing up for eBay managed payments and see what happens. I wish we had some way to organize a strike. You are absolutely right those that eBay will be using those funds to further leverage their position, with no benefit to Buyers and Sellers as far as I've seen.