EBay managed payment

soolin

Mine was the same, I was in early so never had to do the micropayment thing- I just had to link my bank account and I was away immediately. Payments are incredibly quick now, although as my business has slowed down so much I have opted for weekly payments and I just get a lump sum every week- which is rather nice.

Fingerbobs

jon81uk said:

Fingerbobs said:

I don't mind the new system in principle, but it's so slooooooow! Like others, I used to always wait until the money was in my bank account before sending out the item - not an option any more because the payments take so long to hit my account (if the published timescales are to be believed, and if the "micropayment" delay is anything to go by).

Can't comment on the micropayments authorisation, I didn't get asked to do it.

I've been using managed payments for six months and there was a slight delay to start with, with funds taking a few days to clear, but now it is clearing same day and paying to my account next day.

This week I sold one item Thursday 28th Oct and that was available for payout Monday 1st.
Sold another on Monday 1st Nov and funds available Monday 1st then paid on next day.
I am on weekly payouts so get funds on Tuesdays (the default is daily) so received both lots of money yesterday 2nd.

Most of the time it is coming next working day which is standard for most banking payments.

Still slower than the old days when the buyer paid directly using PayPal. The money arrived in PayPal immediately the buyer paid, and could be withdrawn to my bank account instantly, and appeared immediately in my bank account. It all happened within a few minutes. No waiting around until the following day for it to hit the bank account.

The only tangible advantage I can see to the new system is that the money is paid directly to the bank, without the need to manually withdraw, but the slowness of the whole process seems to outweigh this advantage for me. It feels like a retrograde change.

jon81uk

Fingerbobs said:

jon81uk said:

Fingerbobs said:

I don't mind the new system in principle, but it's so slooooooow! Like others, I used to always wait until the money was in my bank account before sending out the item - not an option any more because the payments take so long to hit my account (if the published timescales are to be believed, and if the "micropayment" delay is anything to go by).

Can't comment on the micropayments authorisation, I didn't get asked to do it.

I've been using managed payments for six months and there was a slight delay to start with, with funds taking a few days to clear, but now it is clearing same day and paying to my account next day.

This week I sold one item Thursday 28th Oct and that was available for payout Monday 1st.
Sold another on Monday 1st Nov and funds available Monday 1st then paid on next day.
I am on weekly payouts so get funds on Tuesdays (the default is daily) so received both lots of money yesterday 2nd.

Most of the time it is coming next working day which is standard for most banking payments.

Still slower than the old days when the buyer paid directly using PayPal. The money arrived in PayPal immediately the buyer paid, and could be withdrawn to my bank account instantly, and appeared immediately in my bank account. It all happened within a few minutes. No waiting around until the following day for it to hit the bank account.

The only tangible advantage I can see to the new system is that the money is paid directly to the bank, without the need to manually withdraw, but the slowness of the whole process seems to outweigh this advantage for me. It feels like a retrograde change.

Yep, but I can remember when PayPal didn't allow withdrawal so easily, at one point there was a minimum balance needed to withdraw and similar so back then I didn't think of PayPal being instant, so when they did allow withdrawal straight away I rarely did so.

For me having the fees withdrawn straight away rather than waiting a month for eBay to take them is an advantage, as is the money coming straight to my account, no more needing to go into the PayPal app and withdraw,
In fact I have completely stopped using PayPal altogether now. Much prefer using Apple Pay when purchasing on eBay too.