Ebay

castle96
castle96 Posts: 2,871
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keep getting (they look OK) emails to "update my details - incl. Bank). Something about them not using PayPal any more. DO I NEED to do this NOW (I rarely sell on ebay - once in last 5 yrs). Can I do it WHEN I have something to sell, or will they just bin me (on 31/5)  TIA
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  • jon81uk
    jon81uk Posts: 3,747
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    They won't allow you to list a new item for sale until you do sign up to the new payment system.
    More information here https://forums.moneysavingexpert.com/discussion/6107981/important-managed-payments 
  • You need to do it yes. 
  • lammy82
    lammy82 Posts: 594
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    MarkN88 said:
    You need to do it yes. 
    Really? eBay will terminate accounts if you don't sign up for managed payments? What about people who never sell? Do you have a link for this?
  • pbartlett
    pbartlett Posts: 1,397
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    if you don't sign for managed payments, they won't terminate your account - they will just disable your seller account. you can still buy things.
  • soolin
    soolin Posts: 71,832
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    edited 16 May 2021 at 5:50PM
    lammy82 said:
    MarkN88 said:
    You need to do it yes. 
    Really? eBay will terminate accounts if you don't sign up for managed payments? What about people who never sell? Do you have a link for this?
    I think you have misunderstood , if you don’t sell then you don’t need to sign up. A purely buying account not enabled to sell won’t even be invited. 
    I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected] views are my own and not the official line of MoneySavingExpert.
  • dcweather
    dcweather Posts: 58
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    I am amazed this has not been taken up by Martin on the main site and a campaign launched to stop this. Ebay want direct access to your bank account details and they want to make you wait for your payment (which may be after you have sent the item if you want to maintain your good customer service). This also means you can't keep Ebay sales in a separate Paypal account and you only have Ebay protection, not Paypal's as well. Great for Ebay because they will make millions by holding YOUR money in their account for up to a week before they pay you, making stacks of interest. The current system is great for most users but Ebay don't care about you. 
    COME ON MARTIN - get on to this !!
    In the meantime I suggest you look for other ways of selling your stuff like Facebook and other sites.
  • MR1988
    MR1988 Posts: 198
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    I was finally invited the other day and looking forward to the change.
    I'm curious how delayed the payments will be as a lot of people seem to complain while a lot of others being ok with it.
    Am mostly glad that all fees come off in one go so I don't have to navigate PayPal and keep records of that as well.
  • kalsha
    kalsha Posts: 1,030
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    For months, when people had been talking about this new payment scheme, I had been dreading it.  Almost 4 weeks ago I changed over to the new system and I was worried how it will work.  Well, I can say it is all going smoothly.  Not much difference than before.  We are paying almost the same in fees - 12.8% +30p now when before it was 10% + 2.9% +30p.   It is easier to keep on top of the fees as they are taken off in one go.   Ok so the payment is not instant.  If the buyer paid on Monday evening, I get notification on Wednesday morning that it has been paid to my bank and it is in the bank a couple of hours later. So it only about 1 - 2 days later that I am being paid.   At the moment I have left it as being paid daily (that was default) but I could happily be paid weekly.
    Give it a chance to work - it is not that bad a change.
    The only time when I will lose a little is when I have do cash on collection.   Before I was saving the 2.9%+30p paypal fee on the cash.  But I can live with that as I only do collection if it is an awkward item to post.  Yesterday I had a buyer collect an item and he wanted to pay cash.  I just marked it as "buyer has paid".  I am guessing that Ebay will deduct the full fee which is fine.
  • RFW
    RFW Posts: 9,975
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    dcweather said:
    I am amazed this has not been taken up by Martin on the main site and a campaign launched to stop this. Ebay want direct access to your bank account details and they want to make you wait for your payment (which may be after you have sent the item if you want to maintain your good customer service). This also means you can't keep Ebay sales in a separate Paypal account and you only have Ebay protection, not Paypal's as well. Great for Ebay because they will make millions by holding YOUR money in their account for up to a week before they pay you, making stacks of interest. The current system is great for most users but Ebay don't care about you. 
    COME ON MARTIN - get on to this !!
    In the meantime I suggest you look for other ways of selling your stuff like Facebook and other sites.
    A few things. As far as I know it's still illegal for a company in the UK to earn interest on funds held on someone else's behalf. If you know of them doing that then report them.
    Prior to 2015 Ebay owned Paypal, so them handling the sale and the money is nothing new. The charges are no higher than before. Within the law Ebay can do what they like, no one forces you to use them. Why would you think it better to keep money in a Paypal account rather than your own bank account?

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