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Ebay-Managed Payments Will They Need.

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Pillar of the Community
Canada
1411 Posts
 Posted 06/02/2021  12:57 pm Show Profile   Check 47P7's eBay Listings Bookmark this topic Add 47P7 to your friends list Get a Link to this Message
will they need a banking license?
meaning since they act as a bank, will they have the responsibility as a bank, and is money they hold covered under the Canada deposit guarantee?
they are holding money "in trust", or whatever one can call it.
If you do not agree and sign up, and that apparently means every Ebay participant, YOU ARE OUT!
at least that is how I understand it.I completed the application today, BUT have some reservations about it.
Any and all comments are much appreciated.
any Lawyers and or bankers here who can enlighten us?
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Canada
3703 Posts
 Posted 06/02/2021  1:52 pm  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
Is it any different than when EBay bought and fully owned PayPal? Seems like the same thing. The Paypal removed themselves from Ebay (bought themselves out) and still functioned as the primary EBay money holder.
Pillar of the Community
Canada
1411 Posts
 Posted 06/02/2021  3:32 pm  Show Profile   Check 47P7's eBay Listings Bookmark this reply Add 47P7 to your friends list Get a Link to this Reply
Okie, that is not the issue what PP did.
I believe that Ebay sold off Paypal because that was a very lucrative business.
I also believe that ebay was hoping that PP would not survive on its own.
it is now what ebay is doing, quasi being a bank..
I guess the good thing is that they will make fast Pay-outs to sellers.
with PP you could leave it there .. for when ever.
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United States
11849 Posts
 Posted 06/02/2021  4:30 pm  Show Profile   Check spruett001's eBay Listings Bookmark this reply Add spruett001 to your friends list Get a Link to this Reply

Quote:
I guess the good thing is that they will make fast Pay-outs to sellers.

Not in my experience. Of the few things I've sold since the switch, it has taken at least five days because unless you sell something on Monday, the payout process inevitably stretches across a weekend. Before the switch, the money was in my PayPal account instantly...
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In Memory of Tootallious 3-31-1964 to 4-15-2020

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Then I would be where I am not,
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United States
349 Posts
 Posted 06/02/2021  5:30 pm  Show Profile   Check 1960NYGiants's eBay Listings Bookmark this reply Add 1960NYGiants to your friends list Get a Link to this Reply
@spruett001 - one can remedy this by going to their managed payments page and adjusting when payments are made. When I originally signed up I was getting paid nearly everyday. I changed to be paid every Tuesday instead. Yes a slight delay that I'm OK with.
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United States
131 Posts
 Posted 06/02/2021  5:41 pm  Show Profile   Bookmark this reply Add 1847bill to your friends list Get a Link to this Reply
I'm not happy with eBay managed payments. I also have payments weekly but I liked having the money available immediately. I purchased an item today on eBay. I wanted to use the available funds with eBay but they wouldn't let me. I had to use PayPal.
Valued Member
United States
309 Posts
 Posted 06/02/2021  6:22 pm  Show Profile   Check Singer's eBay Listings Bookmark this reply Add Singer to your friends list Get a Link to this Reply
My issue is this. What happens if someone purchases an item from me today and I have a 1 day handling shipping time (part of my ability to remain a top-rated seller)? Ebay is expecting me to ship the item before the payment has cleared their account and I am paid. Is it me or does anyone else see a potential problem here?
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Canada
3443 Posts
 Posted 06/02/2021  7:30 pm  Show Profile   Check silverwolf's eBay Listings Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply

Quote:
My issue is this. What happens if someone purchases an item from me today and I have a 1 day handling shipping time (part of my ability to remain a top-rated seller)? Ebay is expecting me to ship the item before the payment has cleared their account and I am paid. Is it me or does anyone else see a potential problem here?


once the item is in your ready to ship folder, then payment is pending.. You are good to ship..

I have actually sold something and had the buyer receive it, before I got paid.. It is the new reality., if you want to sell on ebay..
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United States
3220 Posts
 Posted 06/02/2021  8:45 pm  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply


Once eBay verifies that payment has been made by the seller, it indicates that the item is ready to ship. The funds may not hit your bank account for a few days because of bank processing time, but I don't see that there is any real risk in shipping immediately.
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Canada
9778 Posts
 Posted 06/02/2021  8:57 pm  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list Get a Link to this Reply
You can change the setting so that you get a payout every day or once a week. I chose the latter, because I don't want that many transactions per month.
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Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

My eBay store
Valued Member
United States
309 Posts
 Posted 06/03/2021  07:59 am  Show Profile   Check Singer's eBay Listings Bookmark this reply Add Singer to your friends list Get a Link to this Reply

Quote:
once the item is in your ready to ship folder, then payment is pending.. You are good to ship..

I have actually sold something and had the buyer receive it, before I got paid.. It is the new reality., if you want to sell on ebay..


Sorta proves my point.



Quote:
Once eBay verifies that payment has been made by the seller, it indicates that the item is ready to ship. The funds may not hit your bank account for a few days because of bank processing time, but I don't see that there is any real risk in shipping immediately.


What if the buyer's credit card ultimately doesn't process? or the buyer cancels the order during the interim? Now you've shipped the item, the buyer has it, now what?

Pillar of the Community
United States
3220 Posts
 Posted 06/03/2021  08:51 am  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
If eBay confirms that payment was made, that should mean the charge was approved by the credit card or PayPal. A buyer can't cancel an order without seller approval. And they can never cancel once the item is marked shipped.
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Canada
3949 Posts
 Posted 06/03/2021  09:44 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Managed Payments , yet another Ebay
Clustered mess!
Their Coffin getting sealed one nail at a time !
In my one hour phone call with the rep who
phoned us , one falsehood and misinformation after
the other regarding managed payments .
Adyen , is the managed payment provider for both
Etsy and EBay.
How the heck can they get it right with Etsy , money
deposited no issue in to my US bank in the US no problem .
EBay .......where do I start ! The hoops and barrels , unbelievable !
We are just going to transition more and more
to ETSY ( sales growth substantial Y over Y) .
Pillar of the Community
Canada
1411 Posts
 Posted 06/03/2021  10:39 am  Show Profile   Check 47P7's eBay Listings Bookmark this reply Add 47P7 to your friends list Get a Link to this Reply
what happens if or when a return for any reason is initiated?
will Ebay simply just go into your bank account?
Valued Member
Canada
75 Posts
 Posted 06/03/2021  1:08 pm  Show Profile   Bookmark this reply Add Stogie to your friends list Get a Link to this Reply
I gave up selling on Ebay a long time ago. There are so many reasons for this. It was becoming increasingly difficult to sell anything (a real grind). This I think is due to a poor economy and page after page of endless similar listings. And if there was any buyer interest, they would expect you to sell to them for next to nothing (literally only a few pennies on the dollar at best), and be very "insulted" when you turn them down. Add into this ever increasing fees...the last item I sold anything, Ebay actually charged me a "final value fee" on what I paid to ship the item to the buyer! And recently, I received a couple of emails from Ebay urging me to update my account info and that if I didn't, my listing privileges would be disabled. For me, Ebay is not worth using for selling any more.
Edited by Stogie
06/03/2021 1:08 pm
Valued Member
United States
309 Posts
 Posted 06/03/2021  9:06 pm  Show Profile   Check Singer's eBay Listings Bookmark this reply Add Singer to your friends list Get a Link to this Reply

Quote:
If eBay confirms that payment was made, that should mean the charge was approved by the credit card or PayPal. A buyer can't cancel an order without seller approval. And they can never cancel once the item is marked shipped.


Buyer can always cancel payment through his credit card company for any number of reasons. (That's mainly why I do not accept credit cards.) And they'll just return the item if you can't/won't cancel and you'll eat some fees. Ebay will side with the buyer most of the time whether or not you have a "no return" or a "strict" return policy.

Just opens the door to more shenanigans.
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