EBay managed payment

soolin

As managed payments is being rolled out across all sellers now I suspect that we might start seeing threads asking about it, so thought it useful to add the basic information here:
A simple explanation though is that eBay are rolling this out through 2020 to all sellers, there will be no opt out and if you do not upload the bank details requested then you will see your account temporarily unable to add new listings until you comply. 
For many people the process is simple, just tell them your bank, and they confirm that your ebay name exactly matches your bank name - this is meant to avoid scammers or people using false names for whatever reason. However people often use slightly different names , not for nefarious reasons, just call themselves by a shorter version, Sue instead of Susan etc, and this can cause problems (although strangely not all the time) . There is also an issue around legal partnerships and businesses that has not at the time of writing this been resolved.
The costs of selling will change, for many people there will be little difference, the biggest difference is for those currently using a paypal micro account as there is no such system on Managed payments. It has bene worked out that those currently using paypal micro accounts for items less than 310 will see a fairly significant increase in costs.


https://sellercentre.ebay.co.uk/selling/managed-payments

https://tamebay.com/2020/09/ebay-seller-release-managed-payments-update.html

steveE2

In addition to soolins links there is also this one from eBay for private sellers

https://sellercentre.ebay.co.uk/selling/managed-payments/?targetgroup=C2C currently private sellers MP fees are 12.8%+30p

Also the part about names matching is appearing to be a problem for some,like soolin says if your bank account is Anthony but your eBay is Tony change the eBay name to match the bank before giving your details

Archergirl

Ok, so yesterday I had the email so I got a new account set up solely for eBay. Today I had a sale, eBay tells me to send it but no money in Paypal or new bank account, it is going to be difficult to keep track of payment when you are used to seeing them instantly before you post...

soolin

Archergirl said:

Ok, so yesterday I had the email so I got a new account set up solely for eBay. Today I had a sale, eBay tells me to send it but no money in Paypal or new bank account, it is going to be difficult to keep track of payment when you are used to seeing them instantly before you post...

Are you definitely on managed payments? if so you can see the status of payments by going into your payment summary in your account. They seem to stay pending for 24 hours or so before they become payable. If you are in weekly payments it will then be paid Tuesday , if daily, it will be Monday. 

Archergirl

soolin said:

Archergirl said:

Ok, so yesterday I had the email so I got a new account set up solely for eBay. Today I had a sale, eBay tells me to send it but no money in Paypal or new bank account, it is going to be difficult to keep track of payment when you are used to seeing them instantly before you post...

Are you definitely on managed payments? if so you can see the status of payments by going into your payment summary in your account. They seem to stay pending for 24 hours or so before they become payable. If you are in weekly payments it will then be paid Tuesday , if daily, it will be Monday. 

Yes, it was very quick, I only got the bank account the evening before....I can see it all in my payments but I was concerned as it only said pending and I have to send the item to comply with my posting times, I guess I will just have to keep an eye on it but at the moment it doesn't seem as user friendly as Paypal in which you could see the payment instantly.

soolin

Archergirl said:

soolin said:

Archergirl said:

Ok, so yesterday I had the email so I got a new account set up solely for eBay. Today I had a sale, eBay tells me to send it but no money in Paypal or new bank account, it is going to be difficult to keep track of payment when you are used to seeing them instantly before you post...

Are you definitely on managed payments? if so you can see the status of payments by going into your payment summary in your account. They seem to stay pending for 24 hours or so before they become payable. If you are in weekly payments it will then be paid Tuesday , if daily, it will be Monday. 

Yes, it was very quick, I only got the bank account the evening before....I can see it all in my payments but I was concerned as it only said pending and I have to send the item to comply with my posting times, I guess I will just have to keep an eye on it but at the moment it doesn't seem as user friendly as Paypal in which you could see the payment instantly.

It can be pending for a couple of days, there seems to be no logic, some of mine show as payable within 24 hours and others take 48 or more. 

Just looking at mine now I still have payments pending from the 19th that were posted yesterday, this is one of the issues that some sellers that work on tight margins are struggling with.

Archergirl

soolin said:

Archergirl said:

soolin said:

Archergirl said:

Ok, so yesterday I had the email so I got a new account set up solely for eBay. Today I had a sale, eBay tells me to send it but no money in Paypal or new bank account, it is going to be difficult to keep track of payment when you are used to seeing them instantly before you post...

Are you definitely on managed payments? if so you can see the status of payments by going into your payment summary in your account. They seem to stay pending for 24 hours or so before they become payable. If you are in weekly payments it will then be paid Tuesday , if daily, it will be Monday. 

Yes, it was very quick, I only got the bank account the evening before....I can see it all in my payments but I was concerned as it only said pending and I have to send the item to comply with my posting times, I guess I will just have to keep an eye on it but at the moment it doesn't seem as user friendly as Paypal in which you could see the payment instantly.

It can be pending for a couple of days, there seems to be no logic, some of mine show as payable within 24 hours and others take 48 or more. 

Just looking at mine now I still have payments pending from the 19th that were posted yesterday, this is one of the issues that some sellers that work on tight margins are struggling with.

Yes people are usually wary of new things but this doesn't feel like an improvement....guess as we have no choice we will just have to keep a close eye on things.....Thank you for your help x

soolin

Just for information there is an MSE article that relates to these new changes-  but please note that the figures contained only relate to private sellers, the percentages for paypal and other fees for business sellers, and for any seller using a paypal micro account are different.

https://www.moneysavingexpert.com/news/2020/11/ebay-axes-paypal-sellers-bank-accounts-upping-fees/?_ga=2.260628749.1807109009.1606500303-929470678.1601366358

[Deleted User]

I got the email about managed payments and when I logged in I had to provide my bank details and confirm my personal details. All set up now apparently. 

Mikes_Saving

I've just been invited to change (told I must) and won't be doing.
I am very careful not to expose my current account to the internet, using credit cards and Paypal for most transactions, for the protection they provide and in the knowledge that any abuse can be shut down (relatively) easily without devastating my bank account.

eBay have just advised me that they won't take a credit card account and looking around online I'm finding lots of comments about delayed payments to sellers (I wouldn't be sending until I see a payment securely in my account), I don't like the Cash on Collection fee and I really don't like having to sign permissions allowing eBay to charge their fees direct to my bank account.
I've been using eBay by default for about 15 years or so, today is day one of researching alternatives...

[Deleted User]

Unfortunately some people will clearly not agree with managed payments and that is their choice but you won’t be able to sell anymore if you choose not to move across.