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?

[Phillipo1972]

I'm glad you said that. It would make perfect sense to me. Wouldn't that be the natural next move for paypal? I feel offended and aggrieved by the actions of ebay. They have turned the clock back by 30 years or so, when you had to wait for a cheque to clear before funds could be accessed. It is inexcusable, there is no explanation for such a delay in transferring funds. If I can send funds immediately to a business or individual, so can ebay/Adyen

[2knee]

I sell on  Feebay and leave a small portion of my sales in Paypal in case I purchase something . I pay the seller within a minute . The seller getting paid immediately will ship immediately , but with managed payments , the seller will not ship until the payment has arrived in 3 days .

[Chelski]

In relation to the problems with Paypal WC loans when Ebay go over to managed payments, here is part of a message I received at the bottom of the page

Bear in mind I am in Australia, so not sure if this a generic email sent out by them or if this is for Australia alone. It makes some interesting reading

"Coming Soon: Monthly installment loans from eBay Seller Capital powered by LendingPoint.  Sellers can get a fast, flexible, transparent and worry-free funding experience with no origination or early payback fees.  

Thank you for being a valued member of our seller community. We look forward to supporting you through this transition to the new selling and buying experience on eBay"

Would be interested in comments from anyone who is using this method of funding at present.

[Chelski]

Just a quick update, on the Australian End of managed payments.
Mine became live today (26th August), I have made 2 sales. During the sale, the final value fee, add promotion fee and the 30cent ebay fee are all deducted from the sale price of the parcels.
In relation to payment, I chose to have them done daily in the beginning so as I can check how quick or slow the process is. What payments are cleared should be transfered on the 27th August (tomorrow), so will advise you all how long the transaction takes to hit my account.
In relation to shipping, seems you are free to use whatever you are using at present. I use the Aust Post send and save as there are good savings to be had with them once you have an established usage with them.
That I still pay with my paypal.
In relation to Working Capital, I have worked out what I have averaged spending over my present loan and have set up a regular payment every week on that amount to pay out my loan.
I might try for another one after I have pad this one out and see how it goes.
Paypal will be able to see how many sales I have made still, as all the ebay references on the Aust Post information, as all my Aust Post Payments are done automatically through paypal.
As I said before, I will post again after I receive the 1st payment into my bank, and will record anything else I coma across and post at the same time

[Chelski]

Update on yesterdays initial sales and payments.
The 2 sales that I did yesterday (26-08-2020) must have been processed and payment completed during the afternoon (today) 27-08-2020
The 2 sales I have done so far today, are showing processing and by what happened today, will be processed tomorrow along the same lines on Friday 28-08-2020.

So so far no problems, I will update again when I have received the payment into my account and is available and advise the time it takes to reach my account.

[knjhj]

Did you notice that you have now opted into arbitration for all future disputes with eBay? So when they are hacked and your social is stolen you have no recourse? We all know how incompetent eBay’s programmers are, so to expect they will keep this info secure is insane. I am NOT giving it to them. And arbitration should be illegal.