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Thread: Ebay payment direct to bank NOT paypal?

  1. #1

    Ebay payment direct to bank NOT paypal?

    Apologies if this has been discussed before but I've just has this email from ebay.



    Assuming it's genuine, why? Cui bono? (Best guess: tax / money laundering reasons. But my paypal account is the only money my wife doesn't see, so this is bad news for me.)

  2. #2
    Master Alansmithee's Avatar
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    Quote Originally Posted by Rev-O View Post
    Apologies if this has been discussed before but I've just has this email from ebay.



    Assuming it's genuine
    It is.


    why?
    Because their agreement with PayPal has expired/is expiring and they would rather the customer just has a direct relationship with them.



    Cui bono? (Best guess: tax / money laundering reasons. But my paypal account is the only money my wife doesn't see, so this is bad news for me.)
    More straight forward - straight profit because they control the fees and also it makes them more attractive because of cutting paypal and their fees out of the loop.

  3. #3
    Craftsman
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    New wife then 😂

  4. #4
    Genuine eBay change in receiving payments, obviously check that the email has actually come from eBay and its not a phishing email. Payments can take a couple of days to come through, for example if you sell at the weekend it could be Monday or Tuesday when you get the cash, rather than pretty much instantly with PayPal.

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  5. #5
    Grand Master snowman's Avatar
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    Quote Originally Posted by Lawbreaker5000 View Post
    New wife then 
    A new bank account might be cheaper...

    Quote Originally Posted by will128small View Post
    Payments can take a couple of days to come through, for example if you sell at the weekend it could be Monday or Tuesday when you get the cash, rather than pretty much instantly with PayPal.
    I guess time from purchase to shipping will extend a bit as a result...

    M
    Last edited by snowman; 4th March 2021 at 16:29.
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  6. #6
    Quote Originally Posted by snowman View Post
    A new bank account might be cheaper...



    I guess time from purchase to shipping will extend a bit as a result...

    M
    Not necessarily, once the buyer pays you get a confirmation email from eBay, so I think you're safe to ship from that point. It just takes eBay a couple of days to get the funds to you.

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  7. #7
    Plus they take the listing fees at the same time not a month later and the 4% to PayPal is gone.

    Worked well when I sold something recently and I was 4% better off than the old way though it takes a day or two for the money to be released

  8. #8
    Grand Master snowman's Avatar
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    Quote Originally Posted by acg View Post
    Plus they take the listing fees at the same time not a month later and the 4% to PayPal is gone.

    Worked well when I sold something recently and I was 4% better off than the old way though it takes a day or two for the money to be released
    Can't be bad, it always struck me as rather greedy that they took Paypal fees AND eBay ones, but I know they were split up a while back.

    This has to be a better option for sellers as long as it's reliable.

    M
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    Grand Master MartynJC (UK)'s Avatar
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    If this is true - it's a welcome change. Only one fee to pay - I imagine eBay will be reviewing their fees. Maybe this opens Ebay transactions to other payment methods? I assume with this eBay guarantees the payment now with the seller (not Paypal).

    I had a quick look on eBay -
    https://www.ebay.co.uk/help/selling/...s-ebay?id=4795

    Final value fees: They take a hefty 12.8% of total amount of the sale (includes item price, postage, listing fees, taxes etc) for managed payments
    https://www.ebay.co.uk/help/selling/...g-fees?id=4822

    Final value fees for non-managed account: 10%
    https://www.ebay.co.uk/help/selling/...ellers?id=4364

    Difference still better than 4% to PayPal

    Worth checking through the differences - it seems PayPal is still an option for the buyer to pick when purchasing an item - so not sure what happens then.
    Last edited by MartynJC (UK); 4th March 2021 at 17:32.

  10. #10
    Grand Master RustyBin5's Avatar
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    Is this only for private sellers or business sellers or both?

    I just checked a sale made yesterday and PayPal took their fee so is this not fully rolled out yet?

  11. #11
    Master Alansmithee's Avatar
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    Quote Originally Posted by RustyBin5 View Post
    Is this only for private sellers or business sellers or both?

    I just checked a sale made yesterday and PayPal took their fee so is this not fully rolled out yet?
    It's rolling out and eventually all users will move over:

    Managed Payments | UK Seller Centre (ebay.co.uk)

  12. #12
    Grand Master MartynJC (UK)'s Avatar
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    Quote Originally Posted by RustyBin5 View Post
    Is this only for private sellers or business sellers or both?

    I just checked a sale made yesterday and PayPal took their fee so is this not fully rolled out yet?
    You have to switch your eBay account to managed payments

  13. #13
    Grand Master Dave+63's Avatar
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    PayPal fees are 2.9% + 30p so the saving is 0.1%+30p.
    It’s negligible really but gives eBay a hefty increase in revenue from every sale whilst, probably, ultimately consigning PayPal to the history books.

  14. #14
    Grand Master MartynJC (UK)'s Avatar
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    Quote Originally Posted by Dave+63 View Post
    PayPal fees are 2.9% + 30p so the saving is 0.1%+30p.
    It’s negligible really but gives eBay a hefty increase in revenue from every sale whilst, probably, ultimately consigning PayPal to the history books.
    Not sure - but going off topic for a topic in WT (I thought this was in G&D for a minute) - but PayPal is still not a bad platform for sending / receiving payments not just relating to eBay purchases?

    Seems it's worth a few quid:

    https://en.wikipedia.org/wiki/PayPal...#8211;present)
    Last edited by MartynJC (UK); 4th March 2021 at 18:02.

  15. #15
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    I sold a couple of items recently in ebay. I was disappointed in the time it took to get paid compared to the previous instant payment with PayPal. That's progress I guess

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  16. #16
    Craftsman enndriz's Avatar
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    Quote Originally Posted by Dave+63 View Post
    PayPal fees are 2.9% + 30p so the saving is 0.1%+30p.
    It’s negligible really but gives eBay a hefty increase in revenue from every sale whilst, probably, ultimately consigning PayPal to the history books.
    PayPal is my go to payment method on most websites these days, much easier than handing over credit cards details every time. Obviously sometimes you are better off using CC for extra protection, but for everyday stuff can’t beat PayPal


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  17. #17
    Grand Master RustyBin5's Avatar
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    Quote Originally Posted by Dave+63 View Post
    PayPal fees are 2.9% + 30p so the saving is 0.1%+30p.
    It’s negligible really but gives eBay a hefty increase in revenue from every sale whilst, probably, ultimately consigning PayPal to the history books.
    Dunno bout that. I’d give up eBay before I’d give up PayPal. I use PayPal on majority of sites not just eBay

  18. #18
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    Quote Originally Posted by Dave+63 View Post
    PayPal fees are 2.9% + 30p so the saving is 0.1%+30p.
    It’s negligible really but gives eBay a hefty increase in revenue from every sale whilst, probably, ultimately consigning PayPal to the history books.
    Don't know how you come to that conclusion...it's used on many other sites.

  19. #19
    I’m not a big e-Bayer, and fortunately never had an issue, but how does this impact the PayPal support buyers typically get if and when an e-bay transaction goes wrong?

  20. #20
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    doesnt this mean that now you have to wait for it to clear through ebay now? with paypal it was instantaneous...

  21. #21
    Grand Master Dave+63's Avatar
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    Quote Originally Posted by enndriz View Post
    PayPal is my go to payment method on most websites these days, much easier than handing over credit cards details every time. Obviously sometimes you are better off using CC for extra protection, but for everyday stuff can’t beat PayPal


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    Quote Originally Posted by RustyBin5 View Post
    Dunno bout that. I’d give up eBay before I’d give up PayPal. I use PayPal on majority of sites not just eBay
    Quote Originally Posted by mjc1216 View Post
    Don't know how you come to that conclusion...it's used on many other sites.
    It’s just an opinion based on the assumption that most PayPal transactions are through eBay. I’m aware that many other sites use PayPal these days, but losing what is probably your biggest customer, must be a concern for PP?

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    I thought it was phishing and ignored it. I will have a look

  23. #23
    Master M1011's Avatar
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    Seems a bit cheeky to promote this as saving the seller money in 3rd party fees, whilst choosing to charge 0.1% less for a slower service!

    Quote Originally Posted by Dave+63 View Post
    It’s just an opinion based on the assumption that most PayPal transactions are through eBay. I’m aware that many other sites use PayPal these days, but losing what is probably your biggest customer, must be a concern for PP?
    Apparently about 6% of PayPal payment volume comes through eBay, according to the internet.

  24. #24
    Craftsman enndriz's Avatar
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    Quote Originally Posted by Dave+63 View Post
    It’s just an opinion based on the assumption that most PayPal transactions are through eBay. I’m aware that many other sites use PayPal these days, but losing what is probably your biggest customer, must be a concern for PP?
    I agree, eBay was the ideal starting point for PayPal when nobody had heard of them. they have benefited massively from being the de facto payment method on the worlds biggest auction site. but I’d prob even wager that pp have outgrown eBay - they are everywhere now, so reckon they will do ok.


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    Grand Master MartynJC (UK)'s Avatar
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    Quote Originally Posted by M1011 View Post
    Seems a bit cheeky to promote this as saving the seller money in 3rd party fees, whilst choosing to charge 0.1% less for a slower service!



    Apparently about 6% of PayPal payment volume comes through eBay, according to the internet.
    I think I'll stay with instant payment via PayPal.

  26. #26
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    Quote Originally Posted by TROYBOY79 View Post
    doesnt this mean that now you have to wait for it to clear through ebay now? with paypal it was instantaneous...
    No, the payment has been made by the buyer and cleared within ebay, the delay is in ebay transferring the money to your account. It's safe to post immediately.

  27. #27
    Master Ruggertech's Avatar
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    Quote Originally Posted by MartynJC (UK) View Post
    I think I'll stay with instant payment via PayPal.
    Once ebay get around to enrolling you there wont be a choice.

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    Quote Originally Posted by Ruggertech View Post
    No, the payment has been made by the buyer and cleared within ebay, the delay is in ebay transferring the money to your account. It's safe to post immediately.
    so once the buyer pays, its in my account instantly? if thats the case, fair enough

  29. #29
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    Would be interested to find out if the £1 seller offers will still apply in future under the managed payment option!??

  30. #30
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    Quote Originally Posted by MartynJC (UK) View Post
    I think I'll stay with instant payment via PayPal.
    I don’t think you’ll have a choice. Over time eBay will engage everyone with this, their partnership with PP has ended. At present you can still use both, but if you hav ran eBay account you will have received contact telling you the ‘way you get paid on eBay is changing, update your account etc’. The time will come when unless you’ve updated to managed payments you won’t be able to sell.

    I had a load of hassle with this recently. Sold an item via a PP transaction On eBay in Dec, accepted a return in Jan by which time I’d switched to managed payments. eBay paid the refund on my behalf as the two systems wouldn’t talk to each other and let me do the refund, then deducted the money from my managed payments (my bank account). But, PP had also put my PP account into a negative balance for the same amount, so I’d been charged twice for the refund. Took several painful phone calls with eBay to resolve.

  31. #31
    Master Ruggertech's Avatar
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    Quote Originally Posted by TROYBOY79 View Post
    so once the buyer pays, its in my account instantly? if thats the case, fair enough
    I've been on it for about 3 weeks now. The money goes in your ebay payments account instantly, but they then spend a day or two 'processing' it before they pay it into your bank account.
    The system works fine, the couple of days delay doesn't bother me. Doesn't mean I like the system though because PayPal money was spending money, if it was in the account it could be spent, if it wasn't it couldn't. But now it goes into my bank account instead that's every day life and outgoings money, and now there's a need to keep track of things that wasn't there before.
    As I said a couple of posts ago, there is no choice, once they get round to you, you have to sign up or ship out.

  32. #32
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    Quote Originally Posted by Boss13 View Post
    Would be interested to find out if the £1 seller offers will still apply in future under the managed payment option!??
    I dont know for sure, but I used to get the offer roughly every two weeks, but I've been on the managed payments system for 3 weeks now and nothing, so the £1 deal could well be history. Hope I'm wrong.

  33. #33
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    Quote Originally Posted by Ruggertech View Post
    I dont know for sure, but I used to get the offer roughly every two weeks, but I've been on the managed payments system for 3 weeks now and nothing, so the £1 deal could well be history. Hope I'm wrong.
    That's interesting. I'm still on PayPal at the moment and I have the £1 offer for this weekend. Will be tragic if they stop doing that, I never sell on eBay apart from the £1 weekends!

    Try this: https://pages.ebay.co.uk/promos/1002c139/

  34. #34
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    Quote Originally Posted by M1011 View Post
    That's interesting. I'm still on PayPal at the moment and I have the £1 offer for this weekend. Will be tragic if they stop doing that, I never sell on eBay apart from the £1 weekends!

    Try this: https://pages.ebay.co.uk/promos/1002c139/
    Indeed, some things wouldn't be worth selling on there without it.
    Edit: just tried the link you thoughtfully provided and it looks like it has worked, will know for sure next week when the couple of things I'll put on this weekend finish. Cheers.
    Last edited by Ruggertech; 5th March 2021 at 00:23.

  35. #35
    Master M1011's Avatar
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    Quote Originally Posted by Ruggertech View Post
    Indeed, some things wouldn't be worth selling on there without it.
    Edit: just tried the link you thoughtfully provided and it looks like it has worked, will know for sure next week when the couple of things I'll put on this weekend finish. Cheers.
    Excellent

  36. #36
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    Quote Originally Posted by Ruggertech View Post
    I've been on it for about 3 weeks now. The money goes in your ebay payments account instantly, but they then spend a day or two 'processing' it before they pay it into your bank account.
    The system works fine, the couple of days delay doesn't bother me. Doesn't mean I like the system though because PayPal money was spending money, if it was in the account it could be spent, if it wasn't it couldn't. But now it goes into my bank account instead that's every day life and outgoings money, and now there's a need to keep track of things that wasn't there before.
    As I said a couple of posts ago, there is no choice, once they get round to you, you have to sign up or ship out.
    Im similar, liked having the pp money there instead of main account.
    Annoying

  37. #37
    Master davidj54's Avatar
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    Quote Originally Posted by TROYBOY79 View Post
    Im similar, liked having the pp money there instead of main account.
    Annoying
    You could just transfer the money to your PP account from your bank account after eBay have cleared your payment?

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    Master M1011's Avatar
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    Quote Originally Posted by davidj54 View Post
    You could just transfer the money to your PP account from your bank account after eBay have cleared your payment?
    Or just set up a separate bank account specifically for this purpose.

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    Quote Originally Posted by Ruggertech View Post
    I dont know for sure, but I used to get the offer roughly every two weeks, but I've been on the managed payments system for 3 weeks now and nothing, so the £1 deal could well be history. Hope I'm wrong.
    Not true at all thankfully. I have had two £1 offers since changing to direct payment so it's business as usual with £1 selling!

  40. #40
    Master davidj54's Avatar
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    Quote Originally Posted by astonandy View Post
    Not true at all thankfully. I have had two £1 offers since changing to direct payment so it's business as usual with £1 selling!
    Yeah same, am on managed payments and have a £1 fee offer for this weekend.

  41. #41
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    Quote Originally Posted by astonandy View Post
    Not true at all thankfully. I have had two £1 offers since changing to direct payment so it's business as usual with £1 selling!
    Your correct, my £1 offer came through this morning. I'm very happy to be wrong.

  42. #42
    Master Ruggertech's Avatar
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    Quote Originally Posted by davidj54 View Post
    You could just transfer the money to your PP account from your bank account after eBay have cleared your payment?
    Yes you're right, and I will be doing exactly that. But it's an extra thing to have to do which didn't need doing before, first world problems of course but still.

  43. #43
    Craftsman enndriz's Avatar
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    Quote Originally Posted by M1011 View Post
    Or just set up a separate bank account specifically for this purpose.
    A separate bank account you say? to hide spending money from the wife ? Intriguing...


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  44. #44
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    Quote Originally Posted by astonandy View Post
    Not true at all thankfully. I have had two £1 offers since changing to direct payment so it's business as usual with £1 selling!
    Does the £1 offer extend to the payment fees now then? Or is that charged on top? Ta

  45. #45
    Master Alansmithee's Avatar
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    Quote Originally Posted by Dave+63 View Post
    It’s just an opinion based on the assumption that most PayPal transactions are through eBay. I’m aware that many other sites use PayPal these days, but losing what is probably your biggest customer, must be a concern for PP?
    I think you under-estimate how big and diversified Paypal is now.

  46. #46
    Grand Master Dave+63's Avatar
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    Quote Originally Posted by Alansmithee View Post
    I think you under-estimate how big and diversified Paypal is now.
    Yes, I think I probably did.

    Still, losing even 6% of your business has got to hurt!

  47. #47
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    Quote Originally Posted by Ruggertech View Post
    Once ebay get around to enrolling you there wont be a choice.
    They can't without my bank details.

  48. #48
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    Quote Originally Posted by MartynJC (UK) View Post
    They can't without my bank details.
    They can and will stop you using PayPal though. So in effect you will have to enrol if you want to sell anything.

  49. #49
    Grand Master MartynJC (UK)'s Avatar
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    Quote Originally Posted by M1011 View Post
    They can and will stop you using PayPal though. So in effect you will have to enrol if you want to sell anything.
    Well I'll put my stuff on mumsnet then - so there!

  50. #50
    Master Ruggertech's Avatar
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    Quote Originally Posted by MartynJC (UK) View Post
    They can't without my bank details.
    I didn't mean they can literally force you to use managed payments, but they can take away every other option, so effectively you have mo choice unless you want to stop using ebay to sell.

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