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Post by nebrzephyr on Jan 16, 2021 11:41:25 GMT -8
So don't know who is selling on ebay, but just a few days got "forced" to convert from using PayPal to ebay's new "direct to bank" payment system, which cuts out PayPal. So I'm finding this is a real negative IMO. First off, with PayPal as soon as the buyer paid, you had immediate access to those funds. You could keep those funds as a running PayPal balance or transfer to your bank account over night.
Now I finding out that ebay takes a minimum of 3 days to process those funds in their system which means you have no access to those funds during that time. At the end of 3 days, not sure how long it will take to actually see the money in my bank account since I haven't gone past the 3 days yet.
Plus, ebay's "accounting" system, again IMO, is confusing as hell when you try to understand what's the status of your funds. Plus it appears the system is not totally converted. For example, this morning I could no longer see my fees owed balance, "system unavailable" was the message.
Any other forum members using ebay to sell who have been "converted" have thoughts on this?
Bob
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Post by markfj on Jan 16, 2021 12:47:58 GMT -8
I accepted the agreement the other day, but haven’t given them my bank info yet. I’m not selling on eBay now and probably won’t in the future if I can avoid it. HOswap has been good to me for both buying and selling. It seems like that group has seen a lot more listings since the Covid shutdowns and cancellation of train shows. Plus you can negotiate pricing on most deals and even do trades.
When I was selling trains eBay, I would typically break even on most items. Sure it was fun and exciting to see the bids come in on an auction, but the higher the bids got just meant I paid more in fees at the end of the month.
Thanks, Mark
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Post by Artur on Jan 16, 2021 16:56:51 GMT -8
They want everyone to switch and are sending serious sounding emails but they can’t do anything to force you to switch. I’m still using PayPal, just ignore their nonsense.
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Post by riogrande on Jan 16, 2021 17:16:52 GMT -8
There has been discussion of this conversion on Ebay for the past few weeks on other forums. I don't sell on Ebay nor have I for many years, but it does suck they hang onto your money for 3 days - they will probably earn interest on it so another way to profit. It does suck.
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Post by drsvelte on Jan 16, 2021 17:44:22 GMT -8
They want everyone to switch and are sending serious sounding emails but they can’t do anything to force you to switch. I’m still using PayPal, just ignore their nonsense. Well, I'm not so sure about that. The messages I have received indicate that I will not be permitted to list items for sale beyond 25 January unless I make the switch. Its their platform and I suspect they can do that if they so desire. We'll see. |
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Post by Artur on Jan 16, 2021 20:49:03 GMT -8
Well we’ll see what happens after the 25th, I’m not giving them my info. I have a feeling they will loose a lot of sellers.
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Post by Judge Doom on Jan 16, 2021 21:34:22 GMT -8
Horrible system, I've been in Managed Payments and "dealing with it" for a month now as someone who does some buying and selling on eBay.
It usually takes a day or two for eBay to process the funds and issue the payment (usually sent early the next day after processing shows as complete), and a day or two for my bank to receive and process them into my account (longer for both over weekends). You can't use those funds for anything until they're in your bank, not even buying other things off eBay. With Paypal the funds were instantaneous in PP and available to use the second the they were paid, and I could choose how much and when to send them to my bank, or hold them in PP (more on that later).
The only positive IMHO is fees owed are now taken off before the payout to your bank is made, so you can see how much eBay is skimming off you on each sale, and don't have to wait for the combined bill at the end of the month to pay everything.
They will NOT let you choose to have your funds paid out to a Paypal account (just your own bank account) but they will GLADLY accept people buying things using their Paypal accounts. Funny how that works, after years of supporting PP both ways (of course, it's clear they just want to cut PP out and pocket more of the PP fees themselves by using another 3rd party payment processor, Ayden I believe). Once switched, you will no longer see any eBay payments showing up in Paypal (a complaint from some sellers since they liked to use PP to pay for and print out shipping labels).
As a seller, MP won't let you pay for shipping with your balance until it's been sent to your bank, whereas with Paypal you had access to all the funds you've just been paid instantly in PP to buy postage. EBay wants you to ship the item as soon as it's been paid for, but won't let you access the funds you've just been paid to purchase the postage for it. I need to pay using my own bank funds (sometimes on weekends, multiple sales can add up to $$$ postage to buy), and wait for eBay and the bank to get their ducks in a row and process/send/deposit the funds I'm paid a few days later. I use Shippo for most of my large item label printing, and with Paypal I could pay for labels right away with the PP balance I was paid with, not so now in MP (I am told eBay is working on their own web-based label printing setup that could tap into those funds, but it's not available to some of their sites yet (notably .ca)).
It also won't let you hold or get paid in different currencies (i.e. If you list in CAD on .ca and USD on .com, on Paypal you'd get paid in each and be able to hold them), it just converts all to your own bank's currency and pushes them to your bank account (and charges conversion fees on that). So if you like to list in different currencies and hold some for foreign purchases (to avoid conversion fees) you're SOL using eBay now.
I had telephoned eBay to get it switched back, and they made it clear in no uncertain terms there's no going back, and their goal was to gradually transition ALL users to their MP system. The whole thing feels like a giant step backwards being forced upon their users.
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Post by bnsf971 on Jan 17, 2021 5:09:14 GMT -8
EBay wants you to ship the item as soon as it's been paid for, but won't let you access the funds you've just been paid to purchase the postage for it. I need to pay using my own bank funds (sometimes on weekends, multiple sales can add up to $$$ postage to buy), and wait for eBay and the bank to get their ducks in a row and process/send/deposit the funds I'm paid a few days later. I use Shippo for most of my large item label printing, and with Paypal I could pay for labels right away with the PP balance I was paid with, not so now in MP (I am told eBay is working on their own web-based label printing setup that could tap into those funds, but it's not available to some of their sites yet (notably .ca)). As a buyer, I know if I have to wait a week for anything I buy on Ebay to ship, I'm going to be more inclined to go elsewhere with faster shipping. I don't just buy model trains on Ebay. Again, as a buyer, I want what I bought to be shipped in a reasonable time, not waiting for several days for PayPal to pay Ebay, then Ebay to send the money to the seller's bank, then the seller's bank finally making funds available so the seller can pay for postage to ship. It is a step backwards. Or two. |
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Post by nebrzephyr on Jan 17, 2021 7:12:43 GMT -8
snip..."They want everyone to switch and are sending serious sounding emails but they can’t do anything to force you to switch. I’m still using PayPal, just ignore their nonsense." Wrong! I just spoke to live ebay support yesterday and they indicated the 25th is firm. So, I guess we'll see. Judge, you did a better job of explaining the situation than I did. 
On the shipping, here's what I was told. If you have funds in ebay "processing" then the shipping wil be deducted from those funds before they pay out to your bank. As of yesterday I had funds "processing" and the shipping for the items resulting in those funds, showed as a negative amount. So, we'll see if this is true of not.
Now 4 days since the items sold and the money still shows as "processing". This system sucks!!! Bob |
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Post by sd40dash2 on Jan 17, 2021 7:44:42 GMT -8
Thanks Judge for the detailed explanation.
Although I disagree with most of their methods, I think the overall goal of eliminating paypal and creating a more seamless payment format is a good one and long overdue. Paypal bugged me for years with their nag screens reminding me of why it was more advantageous [for them] to use a balance or bank account to make buyer payments, rather than a credit card. They hated it when buyers used credit cards and used nag screens to tell us that every time we paid. This is known as friction, something that's bad when in the business of trying to encourage people to buy things.
From a seller perspective, it doesn't sound like we're getting a break on the ridiculous paypal fees. And this nonsense about making us wait several days for the money to be "processed" is just BS -- banks are able to do things like etransfers and other account-to-account transfers instantly. This is another carryover from paypal days, when they would make you wait "3-5 business days" to "proceess" withdrawals from paypal balance to your bank account. Huge waste of my time to keep me waiting around so long to access my money after selling stuff.
All that said, I still believe ebay remains a safe platform for people to transact on model trains and collectibles. If you ever have some rare collectible, the best way to sell it is on ebay where you'll have lots of buyers ready to bid against each other to win. As a buyer I like it because I know I won't have to deal with grubby requests from individuals who want me to pay their paypal seller fees for them. And that I have buyer safety recourse of a refund if the item doesn't arrive or arrives damaged because the seller didn't pack it properly. This protection is lost when using social media platforms to transact with sellers directly.
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Post by nebrzephyr on Jan 17, 2021 8:05:08 GMT -8
Thanks Judge for the detailed explanation. Although I disagree with most of their methods, I think the overall goal of eliminating paypal and creating a more seamless payment format is a good one and long overdue. Paypal bugged me for years with their nag screens reminding me of why it was more advantageous [for them] to use a balance or bank account to make buyer payments, rather than a credit card. They hated it when buyers used credit cards and used nag screens to tell us that every time we paid. This is known as friction, something that's bad when in the business of trying to encourage people to buy things. From a seller perspective, it doesn't sound like we're getting a break on the ridiculous paypal fees. And this nonsense about making us wait several days for the money to be "processed" is just BS -- banks are able to do things like etransfers and other account-to-account transfers instantly. This is another carryover from paypal days, when they would make you wait "3-5 business days" to "proceess" withdrawals from paypal balance to your bank account. Huge waste of my time to keep me waiting around so long to access my money after selling stuff. All that said, I still believe ebay remains a safe platform for people to transact on model trains and collectibles. If you ever have some rare collectible, the best way to sell it is on ebay where you'll have lots of buyers ready to bid against each other to win. As a buyer I like it because I know I won't have to deal with grubby requests from individuals who want me to pay their paypal seller fees for them. And that I have buyer safety recourse of a refund if the item doesn't arrive or arrives damaged because the seller didn't pack it properly. This protection is lost when using social media platforms to transact with sellers directly. Obviously your experience is vastly different than mine over the last 5+ years. I have never got "nag screens" when I wanted to pay for purchases using a credit card. The only "nag" I get from PayPal are emails "offering" me their credit card. Simple DFELETE button takes care of those.
I can only remember for sure (old age ) the last 12 months, but transferring funds from PayPal balance to my bank account occurred overnight (exception being on weekends when my bank doesn't process).
I do agree with your comment on ebay as a relatively safe place to buy and sell. I know others on the forum have had success with other platforms and that 's good if it works for them.
Bob
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Post by peoriaman on Jan 17, 2021 8:27:15 GMT -8
I can only remember for sure (old age ) the last 12 months, but transferring funds from PayPal balance to my bank account occurred overnight (exception being on weekends when my bank doesn't process). Yes, pretty much overnight in most cases. Unless you need it instantly which had an additional fee (I never bothered; overnight was good enough for me). I'm not so much bothered by the three-day processing delay as I am by the sudden need to re-invent the wheel, seemingly on terms that are only in Ebay's favor. Didn't Paypal start as a subsidiary of Ebay? Seems Ebay should already have my bank information, just ask your subsidiary Paypal! It bugs me that they seem to want that information now, again, and by Jan. 25 or else! I can't decide if I should just go ahead and give them the information, or just stop listing items for sale for as many months as it takes for me to eventually warm up to the new system.... Or better yet - maybe I'll go all in and list everything I have TODAY and maybe sneak in before the deadline. I assume anything I list before Jan. 25 can remain as a Paypal transaction? EDIT: Looks like if try to re-list an item, it won't let me do so without giving them the new bank information. |
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Post by bnsf971 on Jan 17, 2021 9:06:04 GMT -8
FWIW, when I signed up for PayPal over 20 years ago, I was given a $1000 limit for purchases until I provided my bank info. It wasn't $1000 per purchase, that was a total lifetime amount. When I hit that limit, my PayPal account was blocked until I gave them my direct banking info. They then drew directly upon my bank, and I was only given two choices: Take it or leave it.
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Post by ncrc5315 on Jan 17, 2021 9:27:33 GMT -8
PayPal was the first company started by Elon Musk. At some point it became a subsidiary of eBay, then for whatever reason eBay took PayPal public, and sold off their interest in it.
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Post by Judge Doom on Jan 17, 2021 10:14:57 GMT -8
PayPal was the first company started by Elon Musk. At some point it became a subsidiary of eBay, then for whatever reason eBay took PayPal public, and sold off their interest in it. Likely a case of "The sum of the parts (individually) is greater than the sum of the whole" - i.e. to unlock "greater shareholder value" it probably made sense to split them into two separately owned entities as they grew bigger and bigger. |
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Post by The Ferro Kid on Jan 17, 2021 12:55:08 GMT -8
I've been given the same January 25 deadline. I've been thinning my collection and sold more than 200 items, mostly HO diesel and a smattering of steam, over the past few years. Turns out to have been good timing, because I have maybe another dozen or so items to sell and will try HOswap. I will not be converting to the new eBay payment system. I am fed up with the fatbloated, "I'm the smartest person in the room" businessperson in this nation who thinks the universe revolves around them. I may still buy the occasional item on eBay as it suits my convenience, but as a retiree my purchases have tapered off considerably anyhow. That and I have much of what I need.
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Post by markfj on Jan 17, 2021 13:02:12 GMT -8
Well I guess my days of selling on eBay are over then. I knew managed payments wasn’t a good thing from all the videos I saw that started showing up on YouTube a couple months ago. But after reading what Judge posted, forget it! Looks like eBay is yet another great idea that has been ruined by greed.
Thanks for the informative post Judge!
Thanks, Mark
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Post by Deleted on Jan 17, 2021 13:44:29 GMT -8
The last item I had for sale on eBay just sold yesterday. I guess this was good timing, I don't plan on giving eBay my bank account information.
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Post by riogrande on Jan 17, 2021 15:02:11 GMT -8
eBay seems to be the 6000 lb gorilla. They won't change their Wiley ways unless a very large percentage of sellers abandon them. That is likely the only way they would react - money talks, crap walks. I guess wait and see.
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Post by Judge Doom on Jan 17, 2021 20:42:54 GMT -8
snip..."They want everyone to switch and are sending serious sounding emails but they can’t do anything to force you to switch. I’m still using PayPal, just ignore their nonsense." Wrong! I just spoke to live ebay support yesterday and they indicated the 25th is firm. So, I guess we'll see. Judge, you did a better job of explaining the situation than I did. On the shipping, here's what I was told. If you have funds in ebay "processing" then the shipping wil be deducted from those funds before they pay out to your bank. As of yesterday I had funds "processing" and the shipping for the items resulting in those funds, showed as a negative amount. So, we'll see if this is true of not. Now 4 days since the items sold and the money still shows as "processing". This system sucks!!! Bob Sounds like it's different on various eBay sites. The .ca site I use doesn't have the online label printing option worked out yet (but it appears the US site does), so eBay recommends using Shippo...which can't be linked to your Managed Payment funds (but could/can be linked to your Paypal or bank). But still, if one usually uses a 3rd party shipping site to buy and print labels (be it Shippo, UPS, Paypal's label printing service, or your post office's site) or runs the items down to the post office to send in person , you're still paying out of your own pocket for shipping and waiting for eBay and the bank to process and deposit the money from the sale for at least 4-6 days (in my experience. For a longer example I've encountered: you sell an item on Wednesday, the funds process Wed/Thurs and may be available to be sent to the bank Thursday night. They get sent on Friday morning, and it might take 2-4 days for them to show up in your bank. Well, if the bank only deposits transactions (even digital ones) on business days, you might get the funds in your account Monday or Tuesday and be able to spend them then). Heck, that money can't even be used to purchase anything on eBay itself in that time! Having the capability for sellers (or anyone) to store money in a "piggybank" on the site for purchases, rather than push it to your bank, would have been a smart feature for eBay to require (Paypal served that purpose well). I've read some users considered Paypal a small psychological speed bump in that they'd be more inclined to spend the money received in their PP account since it was a step away and separate from the balance in their own bank accounts, and they received it instantly and could turn around and spend it back on eBay instantly. But when they get it in their bank account, that money looks more like "real money" that can be better used for taking care of the usual expenses like buying groceries, paying the monthly bills, paying off the mortgage, paying for Little Jimmy's sports team expenses, etc. |
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Post by GP40P-2 on Jan 17, 2021 22:51:14 GMT -8
Beware, that there could be an even more insidious outcome from this, in that they will now have the ability to report your sales, then 1099 you at the end of the year so that you will have to report it as income (which I know we all do already). More big tech <=> big government in our lives.
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Post by markfj on Jan 18, 2021 6:04:55 GMT -8
(head shaking in disgust) Yes, they probably will. I guess a regular seller could be considered a subcontractor. Not sure what classification they need to use to issue a 1099. The state sale tax has appeared as a separate line item on the invoice for a while now. So it stands to reason that eBay will start reporting seller income to the IRS.
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Post by canrailfan on Jan 18, 2021 11:43:16 GMT -8
All this will probably have the effect of clearing out many of Ebay's occasional and small-time sellers. Perhaps that's part of the plan too.
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Post by 12bridge on Jan 18, 2021 17:51:07 GMT -8
I have been a sporadic eBay seller, and have not gotten one single notification of this.
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Post by gevohogger on Jan 19, 2021 8:38:20 GMT -8
I have been a sporadic eBay seller, and have not gotten one single notification of this. Do you have any current active listings? |
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Post by drsvelte on Jan 19, 2021 14:36:00 GMT -8
All this will probably have the effect of clearing out many of Ebay's occasional and small-time sellers. Perhaps that's part of the plan too. I listed an item today and received the following message.... "Your deadline to sign up for eBay to manage your payments is approaching. To continue listing new items, relisting, and revising listings, you are required to update your account details now at ebay.com/startpayments." I'm very much one of those small-time sellers, maybe averaging 8-10 items a month. I like the system in place now and am quite undecided about switching. |
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Post by nebrzephyr on Jan 20, 2021 7:10:06 GMT -8
UPDATE: my first items sold under the "NEW" system took 6 days to reach my bank.  This is pathetic. Under the OLD system using PayPal that would have been 24 hours. Bob |
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Post by riogrande on Jan 20, 2021 7:18:31 GMT -8
It sounds like eBay has sellers by the short and curli's and they are probably deaf to complaints.
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Post by gevohogger on Jan 20, 2021 8:03:20 GMT -8
I remember the first time I bought an expensive item on Ebay, it was back in 2007 and the I had to go to the bank and get a certified check and mail it to the seller. Once the check cleared, he shipped the item. The notion of sending a check in the mail (a certified check no less!) seems so quaint now but it reminds me that at one time, apparently there were more payment options available to the seller. As a Buyer, for most items I can pay with Paypal, Visa, Mastercard, Discover, Google Pay or the new Ebay Mastercard.... But as a seller I have none of those options. Maybe I should insist on being paid in cash only. I wonder how far I'd get?
Some large items are local pickup only. Boats, for example. Cars, etc. I wonder how those are paid for?
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Post by el3625 on Jan 20, 2021 9:11:59 GMT -8
I have not had any notice yet either but either way , I am done selling on ebay after the 25th then. They are always trying to control what works nicely for most. I think they make plenty enough of money off of us now. I lived without them before and and will survive without them in the future. I am not a big seller but it was always nice to be able to put something up for sale now and then since there are no train shows currently.
Bruce
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