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Mon June 22 2020 16:24:01

Wanted: eBay Seller Experienced with Managed Payments

By: Reader

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Dear Ina,
I would just like to know if anyone who is currently on eBay managed payments has any advice for those of us being forced into it in July.  

For example, should I get a special checking account for eBay transactions? Is there any chance of them causing me to get nsf fees with this service? Have there been any surprise withdrawals from your checking account? How often do they really send payments? 

I have seen the speculation comments, but I don't remember any comments from anyone who is actually on it.
Thanks.
Barbara

Comments (19) | Leave Comment | Permalink
Readers Comments

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: FeelingFroggy This user has validated their user name.

Mon Jun 22 17:24:24 2020

The subject has been beaten to death and people still don't read anything. Let em find out for themselves as those who keep trying to help them feel like they are talking to a block wall. Just wait until july you will know all about it then. All your answers will be answered again.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

This user has validated their user name. by: toolguy

Tue Jun 23 10:53:29 2020

I doubt anyone will be concerned with MP once the fireworks get started on July 4th

We're on the brink of civil war. . . . . . .I've been storing water like a beaver building a dam. . . . .

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

This user has validated their user name. by: iheartjacksparrow

Tue Jun 23 13:21:12 2020

@Barbara - FeelingFroggy is correct. Sellers have been discussing Mangled Payments for at least the last two years. Have you done a search on this Blog for articles and posts? Have you searched the internet for comments? I don't sell on eBay and won't be in the future (unless there's a major change in how things are done on the site), but it appears from reading comments that the biggest issue is giving eBay personal information knowing that the site has been hacked before (and probably more than once). The consensus on bank accounts is to open a separate one for eBay payouts so they don't get access to the account that pays your mortgage, etc.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: Silver Ice King This user has validated their user name.

Tue Jun 23 22:55:05 2020

Barbara,

i know that you asked for answers from people that are currently in it which i am not.  I am only going to make one comment on what I would recommend to any seller who enrolled in Mangled Payments:

Having a Finance background I understand how it is supposed to work, but hiccups do happen whether intentional or accidental, so I would highly recommend opening a totally separate account for this all of your Ebay sales at a minimum.  This is to protect you from any potential errors putting your personal funds in danger of not being able to pay your mortgage or any other bill.  I am not saying there will be any issues with it, but this is the safest route in dealing with  a merchant account.  Make sure the the bank or credit union you plan on using will accept up to a minimum of 31 ACH payments per month without costing you some astronomical Banking Fees.  Many banks have accounts that will only allow a very small number of ACH payments per month before they charge very high fees for them or worse yet decline all of them for the rest of the month.  

I realize that you only want responses from those already in Mangled Payments which is why I am only making this one suggestion as it can become very important very quickly it is not set up correctly.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: jimcooncat This user has validated their user name.

Wed Jun 24 06:34:00 2020

I have a separate checking account for my ecommerce vendors, away from my primary checking account. I keep a balance of $30 and sweep out any overages as soon as possible. I have an account alert set up to let me know if the account goes over or under $30. I instructed the bank to not provide overdraft protection on this account. I have a debit card associated with it so I can use it for Facebook payments. So far I've been very happy with this setup.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: Geetar This user has validated their user name.

Wed Jun 24 08:51:19 2020

I would say recent events would point to saying that they are capable of being criminals. I hope things will change with the new CEO, but time will tell. I definitely would have a separate checking account. There have not been any horror stories as of yet from managed payments, but that doesnt mean it will be 100% rosy! I usually have between $25k-$35k at a time in my biz checking account. I definitely wont be using that for ebay disbursements.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

This user has validated their user name. by: toolguy

Wed Jun 24 09:34:03 2020

@Geetar

I usually have about $50 in my biz checking account.

Being poor sucks, but at least I have peace of mind and live in a house that's paid for. . . .

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: Geetar This user has validated their user name.

Wed Jun 24 11:52:12 2020

@toolguy

   I wish that was all my money...Thats biz money, not really mine. I am not like others that spend 100% + some. Damned if I am going to be a slave to a bank or credit card company. Hopefully this year I will sell my house and move where I can pay cash with my equity. No mortgage, no more slave. These SOB's are ruining this country, and damned if I am going to help them. I actually had Capitol One send me a check. I got refunded for tickets I purchased for a concert that was cancelled. I definitely not rich, far from it. But I am not a modern day slave.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: Duper2019 This user has validated their user name.

Thu Jun 25 00:57:30 2020

This is from Paypal:
Our direct deposit option is only available to our customers that have requested the PayPal Cash Card. The cash card can only be issued to a personal account.


Please note that we are working to get this updated for business accounts so that you can just have one account. It is not readily available yet but once it is, we would inform you most likely via email. We are doing our best to get this rolled out for our business customers before eBay's deadline. If you would like to set up a personal account as well just to make sure you have this set up in time, you would just visit www.paypal.com and select sign up then select personal account. You will have to use a separate email address than what is on this account. Once the account is created, you would visit www.paypal.com/cashcard to apply for the personal card and then you will find the direct deposit information on your profile page of the personal account.

I just did this, yes, it will give you a bank routing number, an account number, it is a Wells Fargo bank.  Use it to have your money deposited from eBay into, then you can choose to keep the money there or deposit it as needed into your bank account.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

This user has validated their user name. by: Marie

Thu Jun 25 01:17:28 2020

Barbara
Asking these questions here come with some things you will need to sort through.  Not everyone that post is actually a current Ebay seller nor are they knowledgeable about what is currently going on with this program.  So your job may be a little difficult figuring out what to take to heart and what not to.  You may be better served to go to the Ebay threads.

Speaking for myself only.  I chose to open a separate checking account for MP purposes.  Not because I fear Ebay doing something with my account that they shouldn't, but to keep things clean and easier on accounting for things.

If this is a route you choose, then make sure that the name on your checking account perfectly matches how you have your account with Ebay set up.  That will be important.

If you get a lot of returns / refunds and you keep draining your checking account then yes it is possible to go into a negative balance if Ebay has to process a refund.  However If Ebay processes a refund, they go to the funds currently in your MP account to pay for the refund.  If there isn't enough there they will let a few days go by to see if you get more sales to cover the refund before dipping into your checking account.  So as long as you are staying on top of things, you should have plenty of time to put money back in the checking if you need to do that to cover the refund.

I've read quite a few posts from sellers that have been in MP since the beginning and not one of them have ever claimed that Ebay dipped into their account unless it was for a refund.  However admittedly they had enough in their MP account to cover the refunds, so there was never a need for Ebay to reach out to their checking account.

Once you are in MP, you will have the ability to choose whether you want daily deposits or weekly.  I'm going with weekly.  Daily deposits to me is way too many transactions into my checking account.  It would be likely that the bank would want to charge some extra fees for all those deposits.  I'm absolutely fine with weekly so that is the route I will choose.

I hope this helps.  I know it is really scary and a huge change to how we function as sellers.  

If you have any other questions, just ask.  I will try to answer if I can.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: Paul W This user has validated their user name.

Thu Jun 25 02:21:15 2020

One of my stores has been in MP for more than a year and I am very happy with it.  Like Marie, I use a separate checking account for all my eBay deposits.  I get payments every day, usually within two days of the note that they sent a payment.  I like that I don't have to transfer funds to my credit union account.  I have never experienced a delay of more than 2 or 3 days to get paid.  eBay has never taken anything back from my account.
In short, I like it a lot.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: wrslss1222 This user has validated their user name.
Web Site

Thu Jun 25 06:35:29 2020

I was one of the first sellers to accept eBay's invitation to join Managed Payments.  The first thing I did was to open a new checking account for the Payments.  The problems I see that new sellers will have going into Managed Payments are:
1.  You are shipping your package before you receive the payment into your account.
2.  There is a delay showing the buyer that the payment was made and a delay to the seller showing the payment was received.

Sellers that have few sales may not be happy in Managed Payments, but, eventually every seller will not have a choice and will be part of Managed Payments.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: jbantiques This user has validated their user name.

Thu Jun 25 10:02:28 2020

All I know about Managed Payments is that in the last few months I attempted to buy mechandise from two enrolled sellers but the payment process was so buggy i found it impossible to pay using my Paypal balance and had to rebuy from a different seller

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: Opalie This user has validated their user name.

Thu Jun 25 11:48:20 2020

@Duper2019

I have a friend who set this up with the PP Cash card but when they attempted to use it to sign up for MP they were given an error message that it was ''not a valid institution''.

It appears that ebay is insisting on an actual checking account for payouts from MP (presumably since they once again moved the MP goal posts to require an account they could also withdraw from - ostensibly for customer refunds).

So those of us who would like our MP funds to go to PP rather than a bank account are once again back at square one.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

This user has validated their user name. by: Marie

Thu Jun 25 15:12:04 2020

@Opalie

That is because PP is NOT a bank.  They are a money transmitter.  The account that has to be attached to the MP account is a BANK checking account.  PP has no such vehicle available, therefore it won't work no matter how many try.

I'm not so sure that is a fault you can accurately blame Ebay for.  I believe they are required to have deposits go to a proper Bank.  PP only allows bank accounts for deposits.  I see no reason Ebay should be held to a different standard.

The nice thing about PP is that it has more options that MP does.  So I completely respect why people are reluctant to make the change.  I'd much rather stay with PP as well.  But unfortunately we do not have that option.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: dans parts This user has validated their user name.

Thu Jun 25 16:48:46 2020

@Marie -

I had delayed signing up for Mangled Payments until after my June listings were over, but now that I see this possibility with PP, I'd rather be able to automatically funnel $$$ back into PP, rather than have to manually deal with transferring, etc, even though I do already have a business bank account separate from my personal.  The key word to me is automatically.  Oh, and free, of course - not subject to bank transfer transaction fees.

The way I read the response Duper2019 posted is that the PP Cash Card (beware all, PP has several card offerings of similar names) sets you up into a Wells Fargo bank account (complete with normal routing number, etc).   It is essentially a debit card out of a bank account, not a credit/debit card (MasterCard, etc).  From there, you use the card (sponsored by PP, but issued by Wells-F) to put the money into your PP account from the Wells-F bank account.

So, I called PP this morning, and got the Philippines.  He gave me some information, but said he wasn't trained to answer what I was really asking.  He intimated that this setup could be automated to funnel $$$ out of the Wells-Fargo account into the PP account without having to do it manually.  

But, the jist for me was that my personal PP account received too many incoming payments (i.e. eBay sales) to qualify to get the PP Cash Card, but they would offer me the PP Business Debit Card on that account  (without it being a Business PP account????  OK....).  I have a PP Business Debit Card through my other PP account - a business PP account, not a personal one.

However, with the Business Debit card, this whole scenario does not work - the PP Business Debit Card routes through BankCorp, not Wells Fargo.  And maybe that's where the part Duper posted about them working to get things ironed out for Business accounts comes in.  They're trying to get BankCorp to do similar to what may exist with Wells-Fargo.

I'm going to try to get hold of someone in PP that does know what's going on, either later today or tomorrow, as soon as I have time.  The Philippine rep also said PP phone support (in the US) was closed to incoming calls.  Said I could open a chat, and then ask them in the chat to call me, since they are doing outgoing calls, just not incoming.

I think we're probably stuck in the scenario you envisage - get a real account at a real bank (whether brick/mortar or online).  I'd just rather try to keep from doing so much transferring over and over, ad nauseum - it's time-consuming.


Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

This user has validated their user name. by: Marie

Thu Jun 25 16:57:31 2020

@dans parts

PP can not be attached to your MP account.  PP is not a bank.  I know that PP has some info on their site that says you can attach your Debit Card to MP, but it is not true according to Ebay.  PP can say what they want, but they don't set the rules for Ebay, so at this time Ebay says NO.

MP doesn't charge bank transfer fees that I'm aware of.

Getting someone at PP to tell you that you can do something that Ebay says they aren't allowing isn't going to help you.  You need to work at that from the other direction.  Get Ebay to allow you to attach it.  It isn't going to matter what PP tells you if Ebay isn't going to allow it.

This is a newer question that I've only seen this week.  But Ebay has responded saying NO.  That is about all I really know about it.

Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

by: ebayout This user has validated their user name.

Fri Jun 26 10:29:40 2020

PayPal: "Our basic charge is 2.9% + 30 cents per transaction."
eBay/Adyen: "Our basic charge is...it depends."
Depends on what?
"We can't tell you with certainty. We're still working on it with 4 weeks to go.
If you want unofficial answers, try ecommercebytes."
What's wrong with this picture?


Perminate Link for Wanted: eBay Seller Experienced with Managed Payme   Wanted: eBay Seller Experienced with Managed Payme

This user has validated their user name. by: Marie

Fri Jun 26 12:29:43 2020

@ebayout

With the way you stated it, it sounds far more nefarious than it actually is.  The "It Depends" part is based on if you have a store or if you don't.  And in what category you are selling in.  

If you don't know what the Simplified Fee is for you, just ask.  They have been published since they first told certain sellers they were going into MP in July.  If you are in MP or registered to go into MP in July, you can view the following links.

https://www.ebay.com/help/selling/fees-credits-invoices/
selling-fees?id=4822

https://www.ebay.com/help/selling/selling-fees/store-fees?id=4809



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