I have been informed this morning by Ebay UK that they will be starting to move sellers onto the Managed Payments system and that by the end of 2020 all payments will be paid directly into our bank account and no longer will be paid into Paypal.
How will this affect those of us who are using Paypal Working Capital loans that depend on the payments going into our Paypal account?
Had the same - in fact have now had two emails from Ebay this morning concerning their new "managed payments". I'm hoping that Paypal will still be an option as majority of my buyers seem to prefer that : ( Certainly don't want Ebay controlling my business' payments - can only be a disaster ! Hope Paypal will be able to work an alternative method to cover Working Capital if this is forced upon us !
I have been doing some checking into this and found that buyers will be able to use credit/debit cards, Apple Pay, Google Pay AND Paypal!! What is not clear is that if a customer pays by Paypal where that payment will go.
Does it go direct to Ebay or will it go to the seller's Paypal account, I suspect the former?
This is a question for me as well, and I resent that this 'solution' (What was the problem?) is basically being forced on eBay Sellers. As far as I can tell the only 'advantage' is that eBay will hold the payments for a couple of days before sending them on to the bank, or hopefully Paypal. Will there be an additional fee? I have no idea. Sound like just another wild plan. With eBay I'm always reminded of when I was a kid hanging out with friends and one of us would be like 'Oh, I've got a GREAT idea!!!' Usually it wasn't. Anyone that has definite information, please share.
The problem was that PayPal was making money. eBay sold PayPal and regrets losing that money. Let’s make a new problem for eBay - loads of sellers moving to bonanza.
eBay is famous for their solutions to non-existent problems. No way I am giving my social security number to these clowns! And using this managed payments to force us into arbitration? More extortion.
My refusal to do this is costing me money. As a hobby seller I can afford the lost income, but I feel for the rest of you. I get a decent number of views on Bonanza but so far no sales.
Buyer pays with PayPal. eBay takes away from PayPal, holds funds, and sends to seller. Often takes about 3-4 business days. Managed Payments = Molasses Payments. NOT HAPPY WITH IT- AT ALL!
I am leaving eBay and going to Bonanza so I can get my shipping done and get my bills paid in time. Managed Payments screws up all that.
Should ebay hold payments for several days , the item purchased will not be shipped until I receive the payment for the item . Buyers will stop buying do to slow shipping .
eBay has definitely made it sound like a requirement to me. In a recent e-mail they state 'You are required to register for managed payments by July 15, 2020. To ensure that your sales continue uninterrupted, and no restrictions are applied to your account, please be sure to register before your account is activated starting late July'
