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Ebay Managed Payments For Coin Sellers Anyone Enrolled ? Thoughts ?

 
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Author Previous TopicReplies: 12 / Views: 483Next Topic  
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Canada
3926 Posts
 Posted 05/15/2021  8:14 pm Show Profile   Check Pacificoin's eBay Listings Bookmark this topic Add Pacificoin to your friends list Get a Link to this Message
We got the CALL from Ebay yesterday . Time to get enrolled in our
new and improved Managed Payment System or else .
The guy I talked to had no clue about what he was talking about .
Tried the sign up before the 18th of May and you will get 20 off FV fees for
all of June trick , until I pointed out that sorry coins category not applicable
for the discount !
Dead silence on the other end .
Next tried to say that as a Canadian Seller , if I still wanted to list in USD
would have to open a Canadian Bank US $ account , due to Terrorism and anti Money Laundering Laws , more BS. Also have to give then Social Insurance Number , which under Canadian Law illegal to demand!
I have a USD account in a US bank ( over 20 Years ) where my PayPal
and Etsy payments have absolutely no problem ending up .
The only stipulation to have that account as a foreign national is that
you must supply to the IRS every two years a W9 form the bank keeps on
file , which we do to conform with US Tax Law .
I said to the Ebay rep since Ayden is Etsy and Ebay both Managed payment System what is the issue .,....No answer !
Any sellers or others with Managed Payments thoughts?

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United States
101029 Posts
Pillar of the Community
United States
5950 Posts
 Posted 05/17/2021  12:02 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
The eBay self destruction continues.
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United States
3016 Posts
 Posted 05/17/2021  2:31 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
I have managed payments with eBay. I was forced to switch to managed payments or not sell on eBay any longer. It is nice not having to deal with Pay Pal on coin sales. eBay can make deposits and withdraws from your checking account, and the withdraws do not need to be approved by the checking account holder. Once eBay is linked to the account, the only way to get eBay off the account is to close the checking account. I opened a separate checking account with debit card and checks that I only use for buying and selling of coins. I have only been using eBay managed payment for about 3 weeks and so far there have been no issues.
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 Posted 05/17/2021  3:31 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Very interesting. Thank you for sharing your experience.
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United States
1244 Posts
 Posted 05/17/2021  3:51 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
I am using Managed Payments. But then again I only sell one coin a week.
The overview page is a bit chaotic, payments and invoices seem not to be in-sync. In short, I have no idea if eBay shortchanges me or not. But other than that, it works...
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Canada
196 Posts
 Posted 05/17/2021  4:09 pm  Show Profile   Bookmark this reply Add Loruca to your friends list Get a Link to this Reply
Be extremely careful of the transition. I got hit with a series of defects because the system can't handle refunds of prior payments once you make the switch. Cost me 5 hours on the phone with CS.
LRC
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Canada
3926 Posts
 Posted 05/17/2021  6:22 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Yup , five hours of valuable time you can never get back !
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Canada
3396 Posts
 Posted 05/17/2021  7:00 pm  Show Profile   Check silverwolf's eBay Listings Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply
anything PayPal related will still be , for refunds, etc.. When you switch to managed payments, eBay takes everything off the sale. at the point of payment..listing fees if any, promoted listings if any, final value fees from shipping and items sold..

My pay-outs are set to daily, so you can usually count on 2 days to process, the sale. then they disperse the funds the following day, except for weekends,,
Sales you make on Thursday or Friday , don't usually clear until Monday, then they disperse from there.. Once they send payouts, it is in my account in less than 24 hours.. So usually 2 days to process, and 1 day to get to me..

As far as a USA account they keep saying they are working on it, but to this day there is no way to get your USA$ in a USA$ account..
So they charge you a big fee to convert, I don't know the exact number, but they say it is line with the banks.. I call b.s

So to some it up the managed payment system, for speed of processing and getting money into your account is slower than PayPal was, but isn't a deal breaker..

i haven't had to deal with an item not received or a charge back, but eBay says, they will protect us, with appropriate shipping/tracking info..

Best of luck..

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 Posted 05/17/2021  7:10 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
I quit being an ebay seller back in the early 00s when they started to police people involved on eBay getting in touch with each other. They grew to giant status with the mindset of being the "the world's largest online garage sale," and kept expanding...until incorporation and greed set in. It was their right to start, then, dipping into seller profits, but the practice of wanting more and more kept alienating more sellers, but eBay never seemed to care. People who were not around on eBay back then have no concept how great eBay once was for sellers and buyers alike.
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 Posted 05/17/2021  8:00 pm  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
I switched to managed payments a couple months ago, and it's been pretty seamless. I set my payouts to come weekly, and since I don't depend on sales for cash flow, the slight delay in payments doesn't bother me. The fees, shipping costs, etc. are not all that transparent when the payments get transferred to my bank account, and I find myself trusting that eBay is getting it right (which is probably not the best practice). One potential advantage is that in the event of a return, the 2.9% PayPal fee wasn't being returned (a recent change). I would hope that with managed payments, the entire selling fee would get returned after the buyer is refunded (although I'm not positive about that since buyers can still use PayPal for payment).
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546 Posts
 Posted 05/22/2021  12:09 pm  Show Profile   Check sheldius's eBay Listings Bookmark this reply Add sheldius to your friends list Get a Link to this Reply
I switched to managed payments a month ago. It was OK, but I don't like the fee structure at all. Before it was only the 12.9%, and they said we would save money by using managed payments. As others noted, it is only a bit lower so not much savings. And now eBay also charges a flat $0.30 final value fee on every sale. I had to raise my min price or lose money. So sales dropped.

From what I read, having a store would avoid this $0.3 fee and have a lower % value fee for coins, so I signed up. This is not the case once all the stores were put on managed payment, and now there is no difference in final value fees between the basic store and not. They did let me drop my store without penalty when I pointed out the inconsistent messaging.

I do like the new Ebay Standard envelopes with printed $0.51 "stamp" for 1 oz of coins with tracking. It can be tough to print on No. 10 envelopes though, so go with the more square sized ones. And DON'T put a cardboard flip in it or the automated machines at USPS won't engage the tracking (to stiff to go through). That counts as a defect, even if coin arrives. And don't ask the local post office to scan it, their scanners only do bar codes, not the 3d ones this prints for the stamp. I use the plastic pocket slips now and works fine after I shrink the pdf to print on No. 10 envelopes (I ordered a full box and need to use it up).
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Canada
3926 Posts
 Posted 05/23/2021  3:05 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
A follow up from EBay as the masters Falsehoods continue ......

" Due to legal requirements, as a Canadian seller, you will only be able to get paid out to a bank account from a Canadian bank. You are responsible for ensuring that your account is set up properly to accept US dollar payouts."
When you call them on it ........no answers !!
Thank goodness we started selling on Etsy !
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