EBay managed payment

NaughtiusMaximus

Does anyone know ebay's timescales for completing the switchover?

I've been aware of this via MSE and other forums for a while but never given it much thought until I listed a few items over the weekend (first time for over a year), the default payment option was Paypal, no mention of managed payments anywhere.

I've done a search of all emails received from Ebay and don't think I've received anything from them which mentions the switch to managed payments. Maybe they're leaving the occasional sellers until last???

jon81uk

NaughtiusMaximus said:

Does anyone know ebay's timescales for completing the switchover?

I've been aware of this via MSE and other forums for a while but never given it much thought until I listed a few items over the weekend (first time for over a year), the default payment option was Paypal, no mention of managed payments anywhere.

I've done a search of all emails received from Ebay and don't think I've received anything from them which mentions the switch to managed payments. Maybe they're leaving the occasional sellers until last???

I got it over the weekend, there was a thing in the app asking me to add bank details etc.

soolin

NaughtiusMaximus said:

Does anyone know ebay's timescales for completing the switchover?

I've been aware of this via MSE and other forums for a while but never given it much thought until I listed a few items over the weekend (first time for over a year), the default payment option was Paypal, no mention of managed payments anywhere.

I've done a search of all emails received from Ebay and don't think I've received anything from them which mentions the switch to managed payments. Maybe they're leaving the occasional sellers until last???

I think they are well over a year late in their full rollout, they are now saying they hope to have all sellers on ebay UK moved to MP by the end of 2021. My main private account still hasn't even had the email!

BooJewels

Good morning.  Further to the recent conversation about how eBay account names differ from names on joint bank accounts, I've been trying to ascertain exactly how the names appear on our joint account and now everything is paper-free, it's not as easy as it sounds, as I only see my own details when I'm logged in to the account and the account name that shows is the type of account it is.  If I generate a statement, it likewise only shows my own details.

Whilst in the phone banking app this morning, I looked to see if it showed any different options and it had a 'send details' option, so I did and emailed myself the account details - which gives the sort code and account number and for name on the account it took the form of my Christian name and surname - no mention of the other half in this instance.  But it is exactly as it appears in my eBay account, which might explain why eBay seemed happy enough with the details.  

KxMx

I never had an email from eBay about switching to managed payments.
I was logged in and looking into selling again and there was on screen text inviting me to switch. 

rpstdavids

BooJewels said:

I'm the same @Pollycat - I've always kept my PayPal account as a separate bubble from household finances and I was happy with how it worked - for me.  Like any change, I'm sure we'll get used to it - and there are certainly some ticks in the plus column - but if I'd had the choice, I would have stayed as I was, because it just worked for me.

The same as I feel, whilst it is nice not having an invoice off eBay every month I still prefer the old method,

Especially as even though my settings are for daily payouts, any sales after about 5pm on a Thursday do not hit my bank account until Monday afternoon,and with a bank holiday this weekend it will probably be Tuesday!

Vixmag82

I have done some thinking on this and this is what I suspect. I wouldn’t worry about sending items while the money is in “processing” as What it basically means is eBay are investing your money for a few days or gaining huge amounts of interest before releasing it. Just imagine eBay as the middle man in the transaction instead of paypal only they are keeping your money for a few days instead of releasing payment instantly. The buyer has paid and the money is in ebays big fat bank account. They have obviously thought why should PayPal get all the reward. To soften the blow they have put it to us that we will pay slightly less in fees. They will get a lot of back lash at first as sellers like me need the payment instantly to help pay for postage (and some will leave) but the amount of new money they make on interest alone will compensate for that so they won’t change back. Bottom line is the item should be shipped when eBay says it needs shipping. Your payment is safe in “processing” despite the 2 day delay. It’s just that eBay are making millions off dollars from interest or investment. Surprised they didn’t cop onto this sooner to be honest. 

Mscol

I can’t get confirmation that eBay are guaranteeing payment when they set your sold item to ‘dispatch now’. 

I’m also very suspicious that the delay in payment v the instant PayPal process is just there for eBay to benefit from holding our funds, even for a couple of days, and making interest in it. Minuscule amounts per transaction but significant across the millions of transactions.

 There is zero benefit to sellers from this change.

soolin

Lets just be very clear here, your dispatch time does not change , by all means hold your buyers goods until you physically see the money in your bank account but remember to adjust your dispatch times to cover that. There is no point trying to compete with those who do not see a conspiracy and have say a 1 or 2 day dispatch and ship straight away. If you want to delay dispatch for several days then put your dispatch day to say 5 days or more- this will obviously affect your sales (and also from my own experience results in some buyers cancelling once they notice items haven't shipped in a timely manner) , if you don't do that then all that will happen is that you get late defects and lose your selling account- so the managed payment will go away at the point anyway if you can't sell.  Ebay offer the chance to withdraw daily anyway. 

I also think there is a naivety showing if you thought your money was safe when it hit your bank account with paypal , but that's another argument to be had. 

Also of course the vast majority of sellers don't use the money straight away so are not desperate for every penny to hit their account before they can afford to ship , on slow weeks I perhaps only cleared my paypal account once or twice anyway, my paypal was always cleared depending on the balance (I would never leave a big balance in there) not because I needed the money. .

varkanoid

Yep fell foul of this system just signed up read the loads of complaints about it. Paypal was instant regardless of whether it was good or not. This is a joke. Took advantage of the £1 fees this weekend all mine just about sold with "to complete processing 06/04/2021" and I am dreading how long it will take after this. Under Paypal would have had the money in my bank and that includes a BANK TRANSFER from Paypal to my Santander account !! 

This business day transfer is as old hat as a cheque we all know its so each party can get the interest on the money whilst its going slow mo across the electronic airways. Been reading some people waiting 2 weeks and EBay does nothing just blames the sellers Bank.

Ebay has took 5 steps back into the digital dark age of 20-30 years ago.

So I will go and sell elsewhere in future I think and I hope many others follow maybe Ebay will realise its rubbish payment system is fit for the recycle bin.

IT-IS-JUST-TOO-MUCH-HASSLE-NOW and not slick as before