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Hi! I’ve a long time listener, never posted here before though. I’ve been in the managed payments since last year, so if you have any questions about it I’d be happy to try and answer as someone who’s actually in the program. I’ve seen so many sellers spreading false and ridiculous information on the Facebook groups.
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Thanks for joining and being open to questions abut Managed Payments.
–What’s your overall impression compared to just using eBay?
–Is the fee really just a simple 2.7% of all sales? Or does it differ based on what payment the buyer uses?
–How long does the money actually hot your bank account once the buyer pays?
–Any issues with buyers complaining about having issues paying? -
Hope I’m replying correctly…
Overall I’m extremely happy with managed payments. I sell a lot of lower dollar items so not paying the $0.30 transaction fee per purchase really adds up in savings! People think that “it’s only thirty cents” but they don’t see the big picture of the hundreds, thousands of packages each year that have that little $0.30 charge added on!
Yes, the fee is a straight 2.7%. Now we are all waiting to see what happens when they add PayPal back in. They haven’t told us if we’ll get the $0.30 transaction fee and the 2.9% that PayPal charges or if it’ll still be just the 2.7% straight fee. If it’s the latter I’d be very happy, if we have to pay PayPal fee structure I’d like to be able to choose if we want PayPal added back in. I personally would choose to omit PayPal from my listings. I’ve enjoyed not having buyers use PayPal. Lower fees and no worries about PayPal claims! It’s a win win.
The money is available in my back account within three days. Everyday they send a payout to my back. Some payments get sent the same day they pay, others may be in pending for a day or two. I do know some sellers in the beta had issues, but it turned out the issue was with their bank – not with eBay. If you have fraud alerts and such then it’s your responsibility to get your bank to fix the issue. I personally have had no issues at all, I get daily deposits and never had a payment not go through or get held up longer than a few days.
As for postage, Labels go through PayPal as usual. Instead of pulling from a PayPal balance I have mine set to pull from my CC so I get the rewards points. I pay the card off daily, works beautifully!Yes, I’ve had buyers complain and ask to cancel due to PayPal not being available. The worst part in my opinion is if say 80% of buyers who complained or asked to cancel were other eBay SELLERS! The amount of push back from sellers who don’t keep up to date with changes and updates is ridiculous. And the amount of false information being spread by sellers is beyond ridiculous! It’s very frustrating to hear people saying things they “heard” with out checking facts or finding the answers themselves. eBay should have started managed payments when they first split from PayPal. I have no clue why it’s taken them this long. It’s a great move in the right direction. Anyone who’s against this change really should look into the program more and educate themselves. Stop listening to false rumors and educate themselves by reading eBay’s seller help pages and asking people who are actually in the program.
Hope I answered all your questions. All in all- yes, I’ve lost sales due to people asking to cancel cause the “only use PayPal” but the good from the program far outweighs the bad!
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“eBay should have started managed payments when they first split from PayPal. I have no clue why it’s taken them this long.”
It’s taken this long because when ebay and PayPal split, they entered into an agreement that didn’t permit ebay to offer its own Managed Payments for several years, and even now—until June or July of next year, eBay can’t open it to everyone….Up to 5% through this June/July, and 10% after that. In mid 2020, ebay can go to all sellers. So, in other words, ebay is going about as fast as they can.
Also, as to PayPal’s fees…..while I’m not in Managed Payments, I’m pretty sure putting PayPal into ebay’s Managed Payments is no different than adding ApplePay or GooglePay or credit cards. The seller doesn’t pay fees to any of them, nor would the seller pay to PP. Because PP won’t be managing the seller side of payments, PP will be there only for buyers to pay. PP won’t be doing the processing, that will be ebay’s job.
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Do you know if, or why, opting into managed payments precludes you from using 3rd party software such as ink frog, 6 bit etc…etc… I was told directly from ebay csr’s that I would have to list natively @ ebay.com if I were to switch to managed payments.
Can you explain, or provide a screen shot, of how buyer payments & their transfer status are displayed/managed? Is it a module in seller hub? How easy is it to reconcile payments. How are returns handled.
I appreciate your enthusiasm for managed payments, but receiving funds near instantly vs having to wait up to 3 days, is a big difference for many sellers.
Thank you.
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https://pages.ebay.com/seller-center/service-and-payments/managed-payments-on-ebay.html
It states in the FAQs that third party listing tools won’t be effected. I know others in the program that use them without an issue. If I were you I’d call and ask to speak to a CSR that is specifically for managed payments.
Yes Payments is a tab in seller hub. It shows each sale and it’s categorized in either pending, waiting for payout, and items already paid out. It’s a good flow. If a seller is relying on each payment to be instantly available or only sells a handful of items maybe the short wait would be problematic, but any seller who’s selling regularly will see daily deposits as soon as the first week of being in the program passes.
Returns are handled no different. The return shipping costs and refunds come out of the pending money that’s waiting on the next payout. I’ve heard some people have had problems issuing partial refunds, I don’t offer partial refunds so I can’t speak on how that works.
They are updating the program as the beta continues and are working on any issues we incur. The team has been great listening to all feedback. It’s not perfect, which it’s in a beta test so we shouldn’t expect it to be.
I use easyauctionstracker for bookkeeping now because GoDaddy/Outright isn’t compatible with Managed Payments at this time. I do know that is one thing they are working on.
The wait on the money, If that’s a sellers issue with the program it’s good the roll out is going in steps so they can save up a buffer before full roll out.
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Time for me to open up a bank account just for eBay stuff, I guess? That’s my one issue. Nothing will beat PayPal’s instant funds and their handy debit card that pulls direct from your balance.
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You don’t need a special bank account. If your bookkeeping is correct and up to date you can have it deposited into any personal account.
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I use GoDaddy Bookkeeping, so everything is done semi-automatically. I have it set up to watch PayPal, as anything coming in/out of it is a business expense of some kind 99% of the time. Depositing straight into a personal account would just add time to bookkeeping days (sorting out personal from business.)
Not that big of a deal, TBH. It’s probably better to have big money in a “real” bank account than PayPal anyway.
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Thank you for your detailed reply.
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@MrsAmyLynn: Thanks so much for doing this!
I sent the message below to Griff at eBay a couple of weeks ago, and he has completely ignored it. Maybe you could put what you know to my questions? For #3, do you have a download to an excel format that you can use for each transaction? I have a set up now that I can tweak, but I don’t want to manually enter each transaction again…
Griff:
We have not made the move to Managed Payments yet as we still had some concerns with some obstacles to overcome. As full-time sellers, we could not handle the potential disruption.
Going into the Summer of 2019, it may be a time for us to make the transition (after PayPal is added in), but we still have some questions, and I’m hoping you can assist.
1) Is there an anticipated timeframe that GSP will be allowed under Managed Payments?
2) When deposits are made into our bank account, is there a detailed report on each deposit that breaks out the types of revenue? For example, when I do my inputs into our accounting system with PayPal downloads, I can see the breakout of Sales Revenue (price of the item), Shipping Revenue (shipping price paid by the buyer), Sales Tax Collected (if there was sales tax we collected and will have to remit to our home state of Colorado), Fees (in this case, it would be the 2.7% paid to eBay for the transaction). To keep our books in order, can we get that breakout?
3) Refunds – When we have returns, I’m assuming any refunds would be netted out of any funds available. Is that correct? Assuming also that these amounts would be shown in a report I referenced above.-
I’m not going to be much help to you with your bookkeeping question. I use easyauctionstracker so all my numbers are auto pulled into that. It breaks down all needed sales tax information and breaks down all my numbers for P/L, it auto creates a bunch of charts and graphs and has monthly/ quarterly / yearly statements for my accountant.
As for GSP, a lot of sellers in the beta are upset about it not being available. I ship direct so it hasn’t really effected my international sales. I do know they are working to get GSP added in ASAP.
Yes, refunds come out of the pending funds. I can’t figure out how to upload photos in here, but I’ll try and figure it out to show what it looks like on screen.
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@MrsAmyLynn: Thanks for the info. If possible, can you see if you have the ability to download your Managed Payments transactions into an Excel, or CSV file?
PayPal and GSP are still our major stumbling blocks, now that SixBit is no longer an issue. But I dialed down our accounting to 15 minutes a week, so I need to make sure I can cover that part as well.
Thanks!
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I’m able to opt into managed payments as of two days ago, but until they offer PayPal I’m hesitant to pull the trigger. Despite my recent issue with a buyer who doesn’t have PayPal, I think most people are just programmed that eBay and PayPal go hand in hand. Heck, it’s the only reason I even have a PayPal account.
As you know, most credit card processors (and soon PayPal) keep the fees charged on sales that are cancelled or returned. Do you know if this is or will be the case with managed payments? Will eBay refund us our fees if a sale is cancelled and a refund is given?
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I just got offered Managed Payments and I’m about to just go ahead and do it (I’m used to a similar system with Etsy, anyway), but the loss of GSP is worrying. I don’t sell a LOT internationally, but I like how easy it is to do with GSP. I hope they add it to the MP program sooner than later!
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Thanks for all the information. I am still on the fence to opt in. Do you think what I would lose from GSP would make up for the new forms or payment. That is my only hesitation. I ship about $100 in sales a week through GSP and I do love the way it works as opposed to me shipping direct. Thoughts?
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Hi! Sorry, I ship direct and don’t use GSP so I can’t be of any help on that. I fully believe your International sales will go up if you ship direct, but I know a lot of sellers aren’t comfortable shipping direct.
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I finally found a fellow seller able to help with changing the charges from paypal to another method. Here are the instructions that were provided to me:
log into Paypal, go to the bottom of the page and click on SITEMAP. On the left click on any of the choices under MY PROFILE AND SETTINGS, on the left, click on MONEY, BANKS AND CARDS. Scroll to the bottom and click on SET AUTOMATIC PAYMENTS. In the list, click on EBAY INC SHIPPING. Click CANCEL. When you print your next label, it will ask you to set up a new subscription. It will take you back to PayPal again but at that point, you tell it what cc you want to use -
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OK, so it looks like I already DO have a credit card listed for “ebay Inc Shipping” automatic payments, but right underneath the card number it says “we’ll use your balance first”. So hopefully that will go away if I cancel this and re-configure it later? We shall see. Stay tuned…
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So I have a question for you. When managed payments started, I noticed that they did not give any benefits to those that sell for charity. I have 2 charities I sell for, both of which I give 100% to the charity. In doing that, there are no eBay fees at all (I get refunds on all of my post sale fees from ebay). In managed payments, they said that was not an option.
Is that still the case? I’m trying to figure it out – as PayPal doesn’t give me a break, so I am paying a percentage of all transactions to Paypal. So if I remove PayPal, and then pay the normal eBay fees, maybe that’s comparable or less than what I’m paying now.
Any thoughts here? Sorry, it’s probably not what you’re using it for, but I just wanted to ask. Thanks
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Hi, bumping thread with a question. Can you still (I know you mentioned it before, but would like to confirm as things change in months) use a credit card to pay for shipping labels in eBays new Managed Payments?
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Does anyone know if Global Shipping is still an issue if opted into managed payments? Ebay has let me know that I’m being put into Managed Payments in July. I’d just switch now and get it overwith if I knew that I could still use Global Shipping. I do ship directly internationally but I like also being able to offer Global Shipping if my buyers want it.
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Ebay recently announced that you can now use GSP while on managed payments. https://pages.ebay.com/seller-center/service-and-payments/managed-payments-on-ebay.html
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The dreaded email arrived in my inbox too, so I spent several hours this morning researching MP and I have a couple questions.
1. This was posted by another member here on the forum, but not answered. Does eBay deduct the fees for each transaction FOR each transaction, or do they get added up and charged monthly, as is the case under the current system?
2. This was posted in an article discussing MP and there is no mention of it anywhere else. The author stated that eBay’s charges are PER ITEM and not per transaction. This is not a problem where you sell one-of commodities, but when you have multiples, it can get sticky. For example, yesterday I sold two curtains. I have a listing for one curtain (new) with multiples available, so you choose the quantity you want to buy. If MPs works on the transaction, I would pay 2.79% + $0.30 for the sale. If it works per item, I would pay 2/79% + $0.60 (two items.) Has anyone noticed this?
Jay, this article is the reference for (2.)
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Just to be clear, with MPs, there are basically two fees for domestic sales. A transaction fee of a flat 30 cents, and what they are still calling an FVF, but which is basically the FVF and Processing fee rolled into one. So, with Managed Payments, the Antiques FVF goes from 9.15% to 11.5%. IF there is no sales tax, this will usually save the seller a little money. Sales tax is sort of the wild card, because the seller can end up paying more with MPs than with present system. That’s because currently the FVF is on the item price plus shipping and handling, but NOT sales tax. (PayPals fee is on the total, including Sales Tax). I think PayPal’s current fee is 2.9%.
Under the new MP system, ebay’s new, higher FVF is applied to the total purchase price, INCLUDING sales tax. Depending on the sales tax rate, this means the seller might end up paying more than under the present system.
As to your first question, I haven’t really looked into that yet. There’s probably someone else here who will answer it.
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Do you purchase shipping with a credit card? If so, how is it categorized with your credit card?
My current dillemma is that I use ebay with the paypal empty hack to force the credit card. Filtering through paypal causes the transaction to show up as Miscellaneous instead of as shipping purchase. I lose out on a bunch of points this way.Also, do you have the option to maintain invoice for fees or does it always autmatically deduct. Again, I like to pay my fees to an invoice with a credit card for the points.
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Etsy has had managed payments for a while now. The biggest problem we have with it is the ability to easily download all the data we need for our accounting system and to produce an accurate P&L statement.
Etsy only deposits the “Net” amount left over after everything is deducted from the “Gross”. Well to keep an accurate P&L statement which we categorize each and every “Debit and Credit” in our account, having just the net figures throws it off.
i.e. … We sell $1,000 of items [Gross], then let’s say Etsy Takes 20% [$200], Shipping Takes 20% [$200], Promoted Listing and Special Advertising takes 20% [$200] leaving a balance of $400 Net. Then Etsy deposits that $400 into your bank account.
Great except we like to see the $1,000 Credited to our account, then show those 3 expenses as a percentage and then the $400 net. It all comes out the same except our P&L only shows $400 worth of Deposits and not record of the expenses. Which will also throw off the year-end total when you file taxes and there is the “GROSS EARNINGS” box to fill in.
With PayPal we don’t worry about it because every debit and credit are listed, and we have all of those categorized and are automatically recorded. BUT with our Etsy account we have to manually make adjustments in our accounting software to show all the debits and credits because the only place all those show up is on the Etsy monthly statement.
We print out the Etsy statement, then manually add in all the GROSS RECEIPTS, then the debits as a lump sum, such as $65 refunds to customers, the total for shipping labels, the Etsy listing and final value fees., etc. We just do it the first of each month. Then when we do our company P&L, we see the correct amounts and their percentage of the Gross Sales they represent which in turn provides us with a correct P&L.
To put this into a simpler example… At a regular job, when you get your paycheck, it shows the gross amount you earned, then the amount subtracted for Fed. Taxes, State Taxes, Social Security, State Unemployment, any 401k and any portion of health insurance, THEN it SHOWS your NET EARNINGS and that is what is deposited to your bank account.
With Etsy and I guess it will be the same with Ebay Managed Payments, we will only see the final NET Deposited. That is what we only see with Etsy currently. So we have to print out an Etsy Monthly statement manually enter the gross sales in our business register, then manually subtract the deductions and then the NET Figures are the ones Etsy deposited into the account and are the only ones we don’t have to enter.
So does anyone on here that has an Etsy account do what we do or do you have a way to capture all the transactions both Debit and Credit and does anyone know if Ebay is going to be any better or the same?
The best case scenario would be for Etsy and Ebay both the allow a direct link between their accounting system and our bank whereby we can use our own banks “direct linking system” to Ebay and Etsy and to be able to download every + or – minus transaction and then we in turn “classify and or categorize” those transaction into the proper American Accountings Standard classifications and we would have a great automatic P&L statement.
From what we see over at our Etsy store, there is a whole lot more manual work to do to keep things straight then just what the cost is for doing this.
You will know this data by reading your statement, but how is Ebay going to get all the transaction to us in a way we can get that data into our accounting programs. Refunds, fees, FedEx extra charges, returns, all constitute a part of the GROSS being turned into a NET number and those that track their stores as a real financial business want to know what percentage of GROSS all these individual items constitute.
Sorry to throw a twist into the Ebay Managed Payment thing, but the accurate accounting needs to be addressed and we haven’t been able to find any data yet as to what will and will not be included in the Ebay statement, if it is directly down loadable like PayPal is [or was] and will their new system create a whole bunch of monthly manual calculations for all of us.
So much for messing my mind up this morning… Now back to listing
mike at MDC Concepts, Inc.
MDC Galleries and Fine Art
SmartParts Small Equipment Parts
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