Ebay Managed Payment System 2 2

[GeeksAreMyPeeps]

15 hours ago, Gaard said:

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.

I just got caught up on this thread. I started getting messages recently and was given the deadline of 1/26. I imagine that there's some bandwidth issue with the switchover where they can only force so many people at one time to switch, so it's being rolled out. I'm assuming that it started with the biggest sellers, as that's where eBay makes most of its money.

[Beige]

On 1/24/2021 at 12:31 AM, Gaard said:

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.

You aren't

I Australia I was warned in June that it would start in November.

I opened bank account for payments, filled the forms in - and nothing.

It seems like they have just forgotten about it down here.

Mind you ebay Australia is based in the Phillipines and they are all working from home as Covid is terrible over there according to the agents I have spoken to when I need to talk to them.

[Spidey 62]

I got the switch or else notice a couple weeks ago, so I did the switch thing. Have sold a couple things and no big deal waiting a couple days for payment.  Went to list a coin today and the listing was rejected.  Apparently, they now have many items that MP sellers can't list.  🙄.  Just dumb.  Also apparently, the coins and bullion categories may start to be allowed tomorrow.   I'm still gong with dumb. 

 

[MatterEaterLad]

Finally got the cutoff notice. I loved the way PayPal kept my comics separate from my other bank accounts. 

The inconvenience me of setting up yet another bank account just so eBay can keep the money they were losing to PayPal is not exactly motivating.

Also, I only use Priority Mail and ship promptly, so not a fan of getting paid days after the buyer receives a book. 

[Nic8612]

13 hours ago, MatterEaterLad said:

Finally got the cutoff notice. I loved the way PayPal kept my comics separate from my other bank accounts. 

The inconvenience me of setting up yet another bank account just so eBay can keep the money they were losing to PayPal is not exactly motivating.

Also, I only use Priority Mail and ship promptly, so not a fan of getting paid days after the buyer receives a book. 

Just wait until you realize they also will be jacking up your fees for all of these "conveniences"

[Sensei Ryan]

13 hours ago, MatterEaterLad said:

Finally got the cutoff notice. I loved the way PayPal kept my comics separate from my other bank accounts. 

The inconvenience me of setting up yet another bank account just so eBay can keep the money they were losing to PayPal is not exactly motivating.

Also, I only use Priority Mail and ship promptly, so not a fan of getting paid days after the buyer receives a book. 

So do you just prefer to keep you eBay checking account separate from your main account?  Just asking because if there is a benefit to doing this please share (I just keep mine together).  Is it just an organizational preference?

[manetteska]

FYI - If/when you get the eBay 1099 form, they have an interesting way of calculating months. For instance in October I have sales on 10/30 and 10/31 which were not counted for October, but the one on 10/29 which was. I don't know the exact timing (or reason) of the monthly cut-offs, but it makes it difficult to reconcile against my own monthly data since October should be October, etc.

Just another level of confusing when this could easily be automated and itemized since eBay has all of the data on both ends.

[MatterEaterLad]

4 hours ago, Sensei Ryan said:

So do you just prefer to keep you eBay checking account separate from your main account?  Just asking because if there is a benefit to doing this please share (I just keep mine together).  Is it just an organizational preference?

Honestly, I just don't want another checking account.

I have a business and also an airbnb, so between personal, business, my wife, and the airbnb, we already have 9 accounts.

It's been so nice to buy and sell comics from PayPal, which has also been less confusing for my accountant. 

[Sensei Ryan]

9 hours ago, MatterEaterLad said:

Honestly, I just don't want another checking account.

I have a business and also an airbnb, so between personal, business, my wife, and the airbnb, we already have 9 accounts.

It's been so nice to buy and sell comics from PayPal, which has also been less confusing for my accountant. 

Got it - I was thinking it might be helpful in case a buyer tried to scam a person and eBay wanted to force hold the funds. If the funds aren't there I'm not sure what they do in that case as they can't hold them if they're not there I don't think, right?  I've never had that happen to me before but I always anticipate it as eBay is 100% pro buyer in almost every case (luckily in the few instances I've had over the years I've come out on the good side of those decisions).  I've never liked the thought that eBay could freeze or hold your funds if a buyer is trying to scam you but I know it happens.

[skypinkblu]

9 hours ago, MatterEaterLad said:

Honestly, I just don't want another checking account.

I have a business and also an airbnb, so between personal, business, my wife, and the airbnb, we already have 9 accounts.

It's been so nice to buy and sell comics from PayPal, which has also been less confusing for my accountant. 

 

26 minutes ago, Sensei Ryan said:

Got it - I was thinking it might be helpful in case a buyer tried to scam a person and eBay wanted to force hold the funds. If the funds aren't there I'm not sure what they do in that case as they can't hold them if they're not there I don't think, right?  I've never had that happen to me before but I always anticipate it as eBay is 100% pro buyer in almost every case (luckily in the few instances I've had over the years I've come out on the good side of those decisions).  I've never liked the thought that eBay could freeze or hold your funds if a buyer is trying to scam you but I know it happens.

Besides the fact they can freeze or hold your funds, what if their system  is hacked? I keep an eBay checking account with the minimum in it. I have not yet switched to managed payments. The main reason is, I don't love having all my banking information with eBay. 

I probably will sign up because I have a few things to list...but I'm past their "warning" which I think ended 1/26.

[theCapraAegagrus]

Sold something last month for the first time since switching to MPS. Yup, it sucks.

[1950's war comics]

6 minutes ago, Angel of Death said:

Sold something last month for the first time since switching to MPS. Yup, it sucks.

i'm leery of signing up for the MP 

do you have to give them your SSN ?

[WolverineX]

15 minutes ago, Angel of Death said:

Sold something last month for the first time since switching to MPS. Yup, it sucks.

What is different? Thinking about stopping Ebay once they force me

[theCapraAegagrus]

9 minutes ago, 1950's war comics said:

i'm leery of signing up for the MP 

do you have to give them your SSN ?

I think so? Can't really remember.

[theCapraAegagrus]

2 minutes ago, Wolverinex said:

What is different? Thinking about stopping Ebay once they force me

The payment didn't clear for 3 days. Normally, I ship out ASAP because PayPal has the money almost immediately. I was confused why I didn't get my money, so I didn't ship until it was 'handled' for 3 days.

[Yeahiwasder4dat]

2 minutes ago, Angel of Death said:

The payment didn't clear for 3 days. Normally, I ship out ASAP because PayPal has the money almost immediately. I was confused why I didn't get my money, so I didn't ship until it was 'handled' for 3 days.

Yeah, it blows. Especially over the weekend sales. Fri, Sat, Sun all pay out on Tues. So money might hit account Wed. I really don't care for it but was forced to switch back in Nov.

[MatterEaterLad]

2 hours ago, Angel of Death said:

The payment didn't clear for 3 days. Normally, I ship out ASAP because PayPal has the money almost immediately. I was confused why I didn't get my money, so I didn't ship until it was 'handled' for 3 days.

That's the part that would drive me crazy. I know I'll have to make the switch. Just dragging my feet in frustration. 

[Lightning55]

2 hours ago, MatterEaterLad said:

That's the part that would drive me crazy. I know I'll have to make the switch. Just dragging my feet in frustration. 

You don't have to wait to ship.  You ship right away, just like before.  EBay HAS the payment, it's not an "iffy" thing - you're going to get it.  It just takes longer to get to you. 

Paypal sent it right away and waited on their own time for the payment to clear.  EBay doesn't want to do that - you wait.  But for shipping purposes, nothing changes.

If you sell regularly, you are getting your money regularly, perhaps almost every business day.  The difference is when you first get in, there's that lag.  Then today you are getting sales from a few days ago, tomorrow payments from stuff you sold yesterday, etc. It just revolves. 

And someday, when you stop selling, payments will still be coming for a few days after yo stopped.  It's like when you got a job and had to wait a week for that first paycheck.  Then every week on pay day, you got a check, but it was never for the current week.  When you left, you got a check later and didn't work that week.

Not saying I like this system, but stopping just short of hating it.  It was much better before, because PayPal was sucking up the processing period, not us.  Didn't realize that at the time, and definitely feel the difference. 

PayPal was able to do that because they onboarded people gradually, as they grew.  EBay probably looked at the idea as "no way", because they would have had to float millions of accounts suddenly as they came on in waves - pay Sellers but not collect the actual money until later.  Didn't want to dot that.  They have us Sellers to do that for them.

[Lightning55]

5 hours ago, 1950's war comics said:

i'm leery of signing up for the MP 

do you have to give them your SSN ?

Yes, you have to give them your SSN, or your EID, if you are a corporation.  Same as when you signed up for PayPal.  For most of us, it was so long ago that we forget we had to do it.  Any money processor will need that.  They also need it for the 1099-K, if you meet your state's threshold.

[skypinkblu]

2 hours ago, Lightning55 said:

You don't have to wait to ship.  You ship right away, just like before.  EBay HAS the payment, it's not an "iffy" thing - you're going to get it.  It just takes longer to get to you. 

Paypal sent it right away and waited on their own time for the payment to clear.  EBay doesn't want to do that - you wait.  But for shipping purposes, nothing changes.

If you sell regularly, you are getting your money regularly, perhaps almost every business day.  The difference is when you first get in, there's that lag.  Then today you are getting sales from a few days ago, tomorrow payments from stuff you sold yesterday, etc. It just revolves. 

And someday, when you stop selling, payments will still be coming for a few days after yo stopped.  It's like when you got a job and had to wait a week for that first paycheck.  Then every week on pay day, you got a check, but it was never for the current week.  When you left, you got a check later and didn't work that week.

Not saying I like this system, but stopping just short of hating it.  It was much better before, because PayPal was sucking up the processing period, not us.  Didn't realize that at the time, and definitely feel the difference. 

PayPal was able to do that because they onboarded people gradually, as they grew.  EBay probably looked at the idea as "no way", because they would have had to float millions of accounts suddenly as they came on in waves - pay Sellers but not collect the actual money until later.  Didn't want to dot that.  They have us Sellers to do that for them.

What happens if you send the item and the payment does not clear?