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No More PayPal?

31 replies 2.2K views
Just got an email from [email protected]:

Getting paid on eBay just got easier

eBay will now manage how you get paid.

This means:

  • No more PayPal fees

  • You get paid directly to your bank account, not your PayPal account

Update your account details to get paid directly to your bank account. It’s that simple.

Thought it was a scam but no, its actually in my messages on eBay - even though the email doesn't even address me by name!
Have I missed this huge news?

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Replies

  • edited 17 November at 4:36PM
    soolinsoolin Forumite, Board Guide
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    edited 17 November at 4:36PM
    Yes you’ve missed the big news, it’s called Managed payments. They are slowly switching people across to it, businesses first and at some unspecified time in the future private sellers will be switched across.  

    I was switched across about a month ago now .

    if you search this forum you’ll find a few threads about it, some notable points are that micro payments are not supported, so for sub £10 things it is more expensive , for higher priced things it can be marginally cheaper in some categories. You get paid net of eBay fees, your only ongoing fees payable separately will be any shop subscriptions.  

    Generally it isn’t going down well, have a read of the community boards. 
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I volunteer to help get your forum questions answered and keep the forum running smoothly. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
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  • edited 17 November at 4:44PM
    JWMJWM Forumite
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    edited 17 November at 4:44PM
    Thank you soolin, I am an occasional seller so am not really involved in the Ebay community.
    I had my Ebay account hacked years ago, so went to 2 step verification. Unfortunately I had to stop that as my phone number was no longer recognised (thread from earlier this year).
    Given that I am not comfortable putting my Bank Account details into eBay.
    However I will need to read up on it.
    Is this the end of £1 Max fees then?
  • soolinsoolin Forumite, Board Guide
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    JWM said:
    Thank you soolin, I am an occasional seller so am not really involved in the Ebay community.
    I had my Ebay account hacked years ago, so went to 2 step verification. Unfortunately I had to stop that as my phone number was no longer recognised (thread from earlier this year).
    Given that I am not comfortable putting my Bank Account details into eBay.
    However I will need to read up on it.
    Is this the end of £1 Max fees then?
    Asking about the £1 offers implies you are a private seller , if so you are the first that I’ve heard of in the pipeline to be switched. Unless of course this was just the advanced notice and you’ve got several months until anything happens. 

    If and when you are switched to managed payments there are no alternatives, so it’s either supply your bank details or stop selling. Some people had real issues with bank details, but whilst I was really worried it all went very smoothly for me . Took me about 4 minutes to register , then once I was switched last month I just had to update how often I wanted to be paid, my options were daily or weekly. 
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I volunteer to help get your forum questions answered and keep the forum running smoothly. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
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  • edited 17 November at 5:01PM
    JWMJWM Forumite
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    edited 17 November at 5:01PM
    Yes I am a Private Seller - just use it to sell bits and bobs that I no longer use. 
    I buy considerably more on Ebay than I sell so not sure why I am in the first wave to change.
    Also to add the email has no timescales and as I said did not address me by name so I thought it was a scam.
  • soolinsoolin Forumite, Board Guide
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    I was interested in the roll out and went and had a look and found this 

    https://tamebay.com/2020/11/uk-private-seller-ebay-payments-starts-to-roll-out.html
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I volunteer to help get your forum questions answered and keep the forum running smoothly. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
    New to Forum? Guide
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  • soolinsoolin Forumite, Board Guide
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    The other thing that probably affects private sellers more than business sellers is collection only items. At the moment sellers can ask for cash on collection and if buyer agrees then seller saves the PayPal fee element of the sale. In future even if a buyer collects with cash the full fee - which is uplifted to include the managed payment element , is still charged.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I volunteer to help get your forum questions answered and keep the forum running smoothly. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
    New to Forum? Guide
  • JWMJWM Forumite
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    I will be looking into the details of course, but could I ask - are Bank Details safe? Though I suppose someone knowing your Sort Code and Account Number isn't the end of the World. Though I will beef up my password I think.
    To be honest for a private seller dealing in small amounts only this is a massive change, and the email they sent has no details other than 'you must add your Bank Account'. No explanations, which was a bit odd as it was the first I'd heard of it.
  • soolinsoolin Forumite, Board Guide
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    JWM said:
    I will be looking into the details of course, but could I ask - are Bank Details safe? Though I suppose someone knowing your Sort Code and Account Number isn't the end of the World. Though I will beef up my password I think.
    To be honest for a private seller dealing in small amounts only this is a massive change, and the email they sent has no details other than 'you must add your Bank Account'. No explanations, which was a bit odd as it was the first I'd heard of it.
    Ebay have had your bank details for a while, it’s no different. When you use PayPal they have a direct debit set up with your bank, and also after certain amounts there was a need to verify your ID with photographic ID. EBay owned PayPal for a while, so eBay had those details. 
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I volunteer to help get your forum questions answered and keep the forum running smoothly. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
    New to Forum? Guide
  • JWMJWM Forumite
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    Many thanks! Off to research now.
  • joolywoolyjoolywooly Forumite
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    I've received the same email and am also a private seller - most of the items I sell are under £10.  It seems I will be worse off under this new scheme. At the moment it appears to be optional - you are invited to click on a 'Get Started' button - so think I will delay as long as I can.  On another issue - as a buyer I have opted into the 'Free Returns' scheme offered by Paypal which I have used several times. Presumably as more sellers change over to the new system this will no longer be available?
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