Change at eBay as they ditch PayPal

[vexillia]

Like many others here I use eBay to shift a few odds & sods.  Yesterday I was surprised by an invitation to register for eBay's new payment scheme known as "Managed Payments" and I wondered if anyone has already signed up and has experience using it.

From what I can gather when someone buys from you, the buyer now pays eBay (by PayPal, card etc).  Then eBay take their cut and send you the balance.  The bad news is that they only process payments Mon-Fri and payments are the slow kind that take up to 4 working days.  Finally, you still have to post within 48 hrs of eBay receiving the payment i.e. before the money gets to you.

Oh, I nearly forgot eBay want your bank details as they won't transfer the money to your PayPal account.  PayPal split from eBay years ago and this appears to be the final step in their divorce.

Ebay say this will save you money.  The new eBay fees are 12.8% vs 10% plus PayPal fees of 3.4%.  Both have a fixed transaction fee just like PayPal.  It's a small saving of less than 1% and for that eBay has direct access to your bank account. 

I have also read that if someone buys three items from you then are three transaction charges not one like at present but I'm not 100% certain about this.  As with any major change there are lots of other hassles that are annoying experienced eBay business sellers.

Finally, a little research suggests that "Managed Payments" will eventually become mandatory even for private sellers.  If this happens this would be the end of my eBay account.  As insurance I've already opened a Gumtree account (also owned by eBay), which doesn't have any listing or selling fees and I'll be interested to see how things get go there.

[OSHIROmodels]

No thanks. I’m out.

[vexillia]

More digging has revealed that the change will be mandatory in the UK probably by sometime next year.  Failure to sign up will result in accounts being frozen.

Anyone here use ebid.net?

[Tadgie]

Guess they will be freezing my account then.

[FramFramson]

Haven't used ebay in years, not since they changed to their current shipping programme that tripled or quadrupled buyer costs.

Be interesting to see who small sellers move to - ebay has been looonnng overdue for competition to simply destroy it.

[Cubs]

I don't use eBay much, but if they change their requirements I'll probably decide to change as well. Paypal has 'access' to my bank account as well, in that you register with your bank details so money can go in or come out. I'll probably stick with them if that's all they want.

[Elbows]

I use eBay a ton (both selling/buying).  I will definitely bail when this becomes mandatory.  On the plus side they're opening a door for a decent competitor.

[levied troop]

I don't use eBay much, but if they change their requirements I'll probably decide to change as well. Paypal has 'access' to my bank account as well, in that you register with your bank details so money can go in or come out. I'll probably stick with them if that's all they want.

You don’t have to give PayPal access to your bank account, they will do it on just a credit card - although that might depend on the amount you are buying

[Poiter50]

Do we know if Ebay will take/use Credit Card details under this new scheme?

[vexillia]

I have seen that eBay will accept credit cards.

[Cubs]

You don’t have to give PayPal access to your bank account, they will do it on just a credit card - although that might depend on the amount you are buying

I don't have a credit card any more, way too dangerous!

[vexillia]

I don't have a credit card any more, way too dangerous!

   I should have said debit & credit cards.

[Mason]

Sounds too much like a money grab to me, on the verge of blackmail.

I switched my store to Etsy over the weekend and will see how that goes: https://www.etsy.com/uk/shop/BlindBeggar

[Harry Faversham]

Could make the 'wanted' and 'for sale' section of wargames forums very interesting in the near future?

[jetengine]

Honestly facebook is pretty good for sales tbh, especially because scalpers get so much attention from people laughing at them that the more gullible buyers will think twice.