- This topic has 12 replies, 7 voices, and was last updated 6 years, 7 months ago by
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@Jay Because if I have $500 or more in returns each month (normal for my volume and higher dollar items), I’d have to really plan for that each month. It would make it easier if it’s deducted daily.
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Understood. So the issue is with getting hit with all the return refunds at once.
I agree that its best if eBay takes out fees each day. We also wouldnt want to be hit with all the fees all at once at the end of each month:
–eBay subscription
–all final value fees
–all refunds for returns
–all fees for the transactions through managed paymentsThe eBay bill is already pretty hefty. We’re disciplined, but I bet a lot of sellers would have trouble keeping enough money in their account to cover.
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I wish they would handle this like amazon. Amazon “settles up” with every disbursement to your checking account, so the money that comes in is pure profit aside from COGS.
I always keep an eye on my running fees total to know what I need to keep a balance of in paypal to pay fees, but this is definitely going to complicate things.
Godaddy bookeeping will likely become my solution. Honestly I only open godaddy a few times a year. Once I’m in managed payments it will be more like a daily visit to the app.
I plan on ditching my paypal debit card and getting a business credit card to pair with my business checking account. Pay for all expenses on credit card and pay off once a month. Godaddy will keep a running tab on the difference between checking balance and credit card balance and then I’ll just have to add in the ebay invoice.
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I agree that it’d be best if eBay took out all their fees as each items sells. At the end of the month, the bill should just be for the store subscription.
Many many of eBay seller are just mom and pop shops who probably live pretty close to the bone. They are not robust businesses that deal with large invoices each month.
Even now, I see some sellers complain about not being able to pay their monthly eBay bill because they had to spend the money. Or getting an expensive return and not having the money to refund.
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I know now there is an option to pay fees once the invoice is finalized. I think I could see myself making a weekly payment to ebay just to keep ahead of it.
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Are you able to pay your ebay fees daily in managed payments?
After the middle of the month when the subscription & accumulated 2 weeks worth of fees come out, I pay new fvf or listing fees daily (sometimes more). I like being on top of fees as much as possible so I know how much I have to play with when it comes to savings/buying ebay stock (trying to use just money in paypal to buy new stock), money to cover new fees/etc,. That would be really annoying to just pay it all once a month.
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I just received another email from eBay urging me to sign up. There are a few interesting (to me) changes, including an option for weekly deposits. I’m still going to wait until the program changes settle down a bit, I expect they will extend the offer to waive fees if the signup progress remains slow.
New features include multiple refunds on a single order and new Finances API
Dear Seller:
Based on our review of your account, the features and tools you use on eBay are compatible with managed payments, eBay’s simplified seller experience to sell and get paid. Please visit ebay.com/paymentsregistration to register and benefit from the new payments experience early.
Managed payments will be part of how sellers will run their business on eBay, and all sellers will progressively be enabled. Sellers who have joined report high satisfaction and recommend it to other sellers1.
Managed payments delivers a more streamlined experience for both buyers and sellers on eBay. Buyers have more ways to pay with credit, debit and gift cards, Apple Pay, Google Pay, PayPal, and PayPal Credit. Sellers have one place to sell and get paid, with payouts automatically deposited to their bank account. Soon, we will offer the ability to change the payout frequency from daily to weekly, if desired.
New features that are already available include a single unique number to reconcile from order to payout, and allow sellers to issue full or partial buyer refunds, directly on eBay or via a third-party platform. Sellers can now also issue more than one refund per order in different sessions, up to the full order amount. Those who integrate using eBay APIs can update their integrations with the newly launched Finances API to view their account activity and payout information.
Most sellers on managed payments can expect to see savings compared to their current payments processing fees. Further, the per listing payments fee is waived through September 30, 2019. Sellers can use our fee calculator to see what this means for their costs. See further details, and register for managed payments at ebay.com/paymentsregistration.
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Good to hear about the Finances API. That’s something I’ve been wondering about since the launch of MP. Hopefully developers will be able to get the true cost of shipping now without authenticating with PayPal.
How does paying for shipping work under MP? Does it pull directly from your balance on eBay?
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