EBay managed payment

hannahp

Rantband said:

As has been suggested many times before maybe Ebay is not the place for collection only sales.

Genuinely sorry but I'm unaware of this ?

I haven't read much on the forum recently (outside of a couple of threads) and have over the years sold a few items collection only, either because they were too bulky to 'ship' or quite high value and the buyer could have more confidence in my sale if meeting me in person and inspecting the goods before payment.

Is there something I'm unaware of to suggest this is no longer wise?

hannahp

Cancel the above question, I just found this thread

https://forums.moneysavingexpert.com/discussion/4949988/collection-only-items#post65282064

pbartlett

I am having trouble seeing how managed payments works as a buyer. Sorry if I am being dense!

Currently, if I buy as a private seller, I pay by Paypal. The seller receives my money in their Paypal account less Paypal fees.

Ok now the seller is switched to eBay managed payments. What happens when I pay them from my Paypal account? Presumably the money now goes to eBay (rather than the seller's Paypal account) with some reference so eBay know who its for. But doesn't eBay get charged Paypal fees to receive it? If so, if then eBay deduct their fees then the seller gets charged twice? 

Rantband

Ebay have covered the PayPal fees by increasing their fees by 2.8% + 30p per transaction.

noitsnotme

My personal account is now on managed payments.  I have a large item I want to sell as collection only.  Am I right in thinking that if someone pays me through eBay (rather than cash on collection) as long as I scan their QR code, I am protected from INR claims now?

soolin

noitsnotme said:

My personal account is now on managed payments.  I have a large item I want to sell as collection only.  Am I right in thinking that if someone pays me through eBay (rather than cash on collection) as long as I scan their QR code, I am protected from INR claims now?

Yes you are , which is the good news with collection items, the bad news is that ebay still take their full payment if buyer pays cash- so there is no longer any benefit to cash on collection sales as there is no fee saving. 

noitsnotme

soolin said:

noitsnotme said:

My personal account is now on managed payments.  I have a large item I want to sell as collection only.  Am I right in thinking that if someone pays me through eBay (rather than cash on collection) as long as I scan their QR code, I am protected from INR claims now?

Yes you are , which is the good news with collection items, the bad news is that ebay still take their full payment if buyer pays cash- so there is no longer any benefit to cash on collection sales as there is no fee saving. 

Thanks.  I’m notso worried about the fees.  It’s quite a specialist item that I’ve tried on FB marketplace and Gumtree on and off for a long time with no interest so I don’t mind paying the fees to get the eBay audience.

BooJewels

Good morning.  As an occasional private seller, but selling a bit more recently, as I'm clearing a house, I've just been put on to managed payments.  I have mixed views as to how it will affect me yet, as I can see there are a mix of benefits and pitfalls.  For me personally at the moment, it's a bit of a nuisance, as I liked keeping my PayPal account separate from household finances.

There are a couple of concerns I have in respect of the link with the bank account.  Firstly, it said that my account name and eBay account name must match exactly - but they don't, as I'm a married woman with a joint account.  My name is the same, as it can't be shortened or written another way, but my husband's name comes first on the bank account - in the format of "Mr A. Xxxx and Mrs B.C. Xxxx".  Is this enough of a difference to trip up payments?  I can't open another bank account and I don't want my husband's name on my eBay account.

Secondly, I read the banking forum here regularly and we often see people with bank accounts being closed because they've done business transactions through a personal bank account.  Whilst I'm not operating a business, just selling vintage items too good to throw (and the money is only half mine anyway as I share it with my sister according to the will) - will potentially regular eBay deposits not cause the bank concern?  I'd hate to have my banking hijacked for a job lot of old cufflinks sold for a fiver.

jon81uk

BooJewels said:

Good morning.  As an occasional private seller, but selling a bit more recently, as I'm clearing a house, I've just been put on to managed payments.  I have mixed views as to how it will affect me yet, as I can see there are a mix of benefits and pitfalls.  For me personally at the moment, it's a bit of a nuisance, as I liked keeping my PayPal account separate from household finances.

There are a couple of concerns I have in respect of the link with the bank account.  Firstly, it said that my account name and eBay account name must match exactly - but they don't, as I'm a married woman with a joint account.  My name is the same, as it can't be shortened or written another way, but my husband's name comes first on the bank account - in the format of "Mr A. Xxxx and Mrs B.C. Xxxx".  Is this enough of a difference to trip up payments?  I can't open another bank account and I don't want my husband's name on my eBay account.

Secondly, I read the banking forum here regularly and we often see people with bank accounts being closed because they've done business transactions through a personal bank account.  Whilst I'm not operating a business, just selling vintage items too good to throw (and the money is only half mine anyway as I share it with my sister according to the will) - will potentially regular eBay deposits not cause the bank concern?  I'd hate to have my banking hijacked for a job lot of old cufflinks sold for a fiver.

eBay set up a direct debit to pay you. So if no other direct debits have issues with the name I wouldn't worry about it. As far as I know almost all banks only need one person from a joint account to give authority to set up a payment so it should be fine. I've never had an issue with any of my direct debits and the joint account.

I really wouldn't worry about the payments into your bank from ebay looking like a "business", assuming it is not a huge sum. With the old system many people withdrew from PayPal regularly too and I've not heard of a genuine private seller having issues.

BooJewels

@jon81uk - thank you for the assistance and reassurance.  I was a smidge concerned when I saw that it was a Direct Debit, as I wasn't sure that made sense.  The sort code and account number are correct and it's the right surname, so for most banking purposes that wouldn't cause any issue, but eBay said that name must appear exactly the same on your bank account as your eBay account.  I shall find out when I sell something - I've only got one item scheduled at the moment, so it won't be for a while. 

I'd just set up a spreadsheet to keep track of items, postage paid etc., so I'm going to have to re-work that and give it some thought.  I've never actually withdrawn funds from PayPal, I receive into it and use that balance to fund other buying and occasionally use the debit card I have on it.  On the plus side, I prefer the idea of their fees being deducted first, so I don't have to keep track of small fee payments going out a few weeks after the sale.