![]() ![]() With managed payments on the other hand you have everything together in one place and, if eBay is to be believed, slightly lower fees. Having immediate funds is the only advantage to continue sticking with PayPal. ![]() ![]() In my opinion, there really isn’t much value in holding out to the last second to opt-in. In the long term, you don’t actually have a choice. Should You Opt Into eBay’s Managed Payments? However, since it’s inevitable now is the time to make moves to minimize the effect it will have on you and your business. you’ll probably struggle with Managed Payments. If you are on the edge and need your money quickly to pay rent, ship your items, etc. If eBay’s Managed Payment system had come out two years ago when I was in a much tougher place financially I would probably have many different feelings about it. Luckily, my eBay store and other businesses cash-flow well enough that I have some flexibility, and the delay in payments doesn’t affect my shipping or sourcing. I chose weekly payouts (which are sent on Tuesday) instead of daily payouts and haven’t had issues thus far. It has been taking one to two days for my funds to come available on the site and then an additional 2 days for them to show up in my bank account (business days, so it takes longer over weekends). Personally, our fees are marginally higher with eBay’s managed payments system. eBay is claiming that this way is simpler and saves people money. none of them are noticeable enough that they have disrupted the day-to-day function of my reselling business. While there are some changes to the fee structure, funding sources, etc. There have been no major hiccups as they’ve scaled the system to 42 million sellers globally (unlike with changes they’ve rolled out in the past). My Experience With eBay’s Managed Payments:Īfter a couple of weeks on the new system, eBay’s Managed Payments is working about how I expected it to. Thinking of diversifying? Find the Best Selling Items on Mercari by clicking here. However, because it takes several days to transfer you’ll have to lengthen your handling time significantly if you don’t want to ship until you have funds in your account. For one, they do not require you to ship the item to release the payment. While I did enjoy that I could get instant access to my funds from eBay sales, I still feel that eBay is still the best place for sellers. Instead, you have a balance that comes available after a time (commonly, after an item is either shipped or confirmed received). If you sell on Mercari, Poshmark, Etsy, StockX, The RealReal, thredUP, etc. Nearly every selling platform manages payments for sales on their platform. It’s worth mentioning here that eBay’s previous arrangement with PayPal made them a bit of a unicorn. Once this balance is available (usually around 2 business days) you can transfer it to your bank account. So, for example, you sell a pair of shoes on eBay, the person pays via credit card which is processed by eBay (or actually the processing company they contract with), and you will have a balance show up on your “Payments” section of your Seller Hub. What this means is that, when somebody pays you, the platform processes the payments and you will have a balance on that platform. Nearly every platform you sell on manages its own payments. ![]() The question is, where would you go? How eBay’s New Payment System Works: The Short Verison They are telling you to use their payment system and you can switch or move on. After all, an objective review of eBay’s managed payments system is hard to find.īut here’s another thought for you, does it matter if eBay made the switch to make money? They are the largest selling platform on their type online and aren’t giving you options. But now that I’ve actually been on the managed payments system for a while I wanted to write this post to address some concerns, answer some questions and, hopefully, give you a bit of comfort. So it is true? Is eBay Managed Payments a money-grabbing effort from the massive corporation that hundreds of thousands of people rely on to put food on the table? *In fact, since publishing this post we’ve gotten several emails per week saying that we are idiots that don’t know anything about business and we’re probably eBay pawns* I can guarantee that you’ll get tons of crusty old eBayer’s claiming that it’s the worst mistake that money-grabbing eBay has ever made and that they’re boycotting the platform. If you want to initiate a monstrous crap-storm, just mention eBay’s new Managed Payments System on the eBay Community or any social media outlet. As an Amazon Associate I earn from qualifying purchases. ![]()
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