- This topic has 21 replies, 9 voices, and was last updated 1 year, 1 month ago by
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Mainly I just don’t want to deal with learning the system during the holiday season and don’t want to risk any potential disruption in sales. I’m also not ecstatic about all the issues I’ve been hearing about (chargebacks, days of waiting to receive funds, issues paying for shipping, etc.).
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I think that’s your final date. I assume they’ve been sending you messages to sign for several weeks/months now. We were forced to join in July, but had been receiving messages about it since May. We held out as long as we could.
Its not bad. No hiccups. Just a different way to get the same money.
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No, there is no way to “opt out”. You’ve read all the horror stories, many of them from people who never took the time to understand how it works…. but every day on Facebook groups I see people saying exactly what goomba said: For most people (and especially those who have taken the time to understand how it works), it is actually an improvement. There really isn’t any huge learning curve, and I’m sure most questions you might have can be answered right here by some of us who are already in it.
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One thing that might happen to some people- happened to me- is that eBay might require you to upload some form of photo id, like a passport or driving licence. They didn’t give an explanation, but when the ‘hello’ message changed to my formal name I realised it was because eBay only knew me by my diminutive and they needed some official proof to tie me to the bank a/c. That was a couple of days back- haven’t yet received the confirmatory email.
It does seem that if you’ve got two names, like John Fluffy Kitboodle, and you call yourself Fluffy that’s okay. But not Fluffa…
According to someone on GlassDoor, who claims to work for Adyen NV, the pay is on average 20% less than in other comparable financial institutions, and the top executive levels are dominated by Dutchmen.
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The only issue I had is that any returns opened for items sold prior to the switch will need to be manually refunded in Paypal, so keep some money in paypal for a couple weeks.
That caused me a massive headache because loading money back into paypal took longer than the window ebay gave me to refund buyer.
Otherwise, it is fine once you get used to the payout schedule.
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I agree with retro’s advice. Before they opted me in to MP, I had stopped moving money from PP to my Bank, so that I had a nice cushion to deal with refunds, the occasional situation where I need to pay Shipping via PP, etc. I also have PP set up to pay my monthly ebay bill, so I’m keeping an eye on my PP balance and will have time to transfer money to PP before any problems arise. I’ve been in for months, and no problems, just a small adjustment for me.
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If you set up your bank account in PayPal as the backup funding method the shortages will automatically come out of that account instead of having to hassle with transferring money manually from bank to PayPal. You just need to leave enough money in that checking account.
I ship everything through ShippingEasy using my PayPal debit card. My PayPal account uses my business checking account for backup funds, the same account that my (weekly) Managed Payment disbursals are being deposited to. Other than the hassle of more transactions to balance monthly in the checking account, it’s no daily problem.
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The only lingering issue is that they need to allow payment for labels with cc instead of paypal. Why do they still only allow us to use paypal???
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Are you in Managed Payments? All our shipping labels get charged from our Managed Payment Account before they send us the payout.
What labels are you buying where Paypal is involved?
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I don’t want shipping to come out of payments.
Why throw away all those free CC points? It is very significant.
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I hear you. $2000/month shipping is $20 cash back a month. I think you said you do miles, though airlines have made it more difficult to earn tickets.
$20 aint nothing.
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Hilton points.
The big benefit is that if the transaction is recognized as shipping then I get 6x points. Buying shipping through ebay I only get 3x points because the transaction is filtered through paypal. I still get 6x points when using pirateship, but the TRS discount on priority is worth more than the points difference. I still use pirate ship for 1st class and alot of cubic rate stuff.
Now I’m using shippo for UPS too instead of ebay labels for larger stuff.
If you redeem your points smart and get the 6x points on shipping, it is worth ALOT more than $20 a month. I get a bunch of other perks too:
Currently diamond status (free breakfast, snacks, upgrades, etc)
book 4 nights with points get a 5th night free
I earn two bonus nights a year that can be used anywhere for a standard room.
I got 160000 points for signing up for the card and spending $3k, which took no time.
I’ve used this card for pretty much everything this year so I’ve earned ALOT of points. It’s worth much more than $20 a month.
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Cool. Its smart to pick one program and throw all the points at it. I know many programs are making harder to get good perks after the all the point junkies began sharing the tricks in the last five years.
Diamond: The highest elite tier in Hilton Honors is Diamond status, which is earned after 30 stays, 60 nights, earning 120,000 Honors base points each year, or holding the Hilton Honors Aspire Card from American Express.
Do you stay at the Hilton for work? Or how much money do you spend yearly on your CC? Even if we charged our eBay shipping, we’d never hit those numbers in a year.
The Hilton Honors Aspire Card from American Express gets you Diamond automatically, but it also has a $450/yr fee. https://thepointsguy.com/guide/hilton-amex-aspire-review/
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Diamond just showed up one day. It definitely isn’t from stays. I only have 6 stays this year.
I think I got diamond because of how much I’ve charged to card. It was supposed to be just Gold status for general use of the card.
I pay every bill I can use a credit card on, all of my business expenses, groceries, auto repairs, vacations, home expenses, etc.
Have I charged more than $40,000? Between my business and all other expenses that accept Amex? Oh yeah for sure. Shoot I have between $16-20k just in inventory purchases and shipping costs every year.
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Ebay is not switching over stores that primarily have listings of coins or bullion, adult items, and I think there are a couple other types of listings that Adyen NP will not permit in MP. A couple months ago one of my stores was receiving the notices of being switched over but I had some coins listed. I called to ask to opt out due to the coins but they said they’d only waive the requirement to switch over if the store was 90% or above in listings that MP won’t accept “yet”. Only like 20% of my listings at the time were coins so they would not let me opt out. I ended those listings and relisted them under a different seller ID, which remains off MP.
My stores switched over without any issues. The only issues I’ve heard of are the two mentioned above, namely the additional banking security hoops to get set up and leaving enough money in Paypal to cover returns and also eBay charges and fees if there’s not enough in the pending MP payout to cover them or your settings are still to pull from Paypal.
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For shipping, you can still use third party software (I use Endicia personally) and earn your Credit Card points and rewards and all that. I’m not sure if you can do it directly with eBay shipping, but there are still options if that is a significant part of your business. I do several thousand dollars of shipping a month as well, so the points definitely do add up and I’d miss not having them. I hear you about the slight delay in the payments transferring to your bank, though I personally like having it all deposited as a net and having all the fees and things taken out which makes my accounting a lot easier.
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goomba,
An ebay exec recently mentioned that their ultimate goal is to have fee netting for all fees, not just FVFs. I, too, would like to see that happen. (Although I’m not sure how it would work with the monthly store fee). Sounded to me like we might see that happen sometime next year…
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MyCottage,
That’s very interesting to hear. My problem in the past is that I became a bit obsessive over calculating profit margins on individual items and things, when in reality I should have just kept it simpler to keeping track of “money spent on products” and “money made by selling products” and then deducting the fees/memberships/costs of running the business as expenses. Once they made the switch, I found it far easier to separate the two and not worry about the individual items as much as long as the overall numbers were trending up and looking good overall in the right direction. I’m sure I’m not alone on that :).
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goomba478,
I’m right there with you as far as managed payments getting me to stop obsessing over individual profit margins. I enjoyed the routine of updating my inventory spreadsheets every few weeks even though this year has led to a sales level (50-75 orders a week) where that became cumbersome. I’m glad that the managed payment files that we can export are as clean as Paypal’s; no need to spend time on that minutia when it’s (almost) all automated for us.
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