This article explains How To Avoid Ebay Managed Payments and everything relating to the eBay payment processing system.
Being one of the top online marketplaces in the world, eBay has continue to ensure that transactions are processed securely in the platform, this is why you scarcely hear customers complaining of being defrauded on eBay.
That being said, eBay recently introduced the managed payment system which means that all payments are processed and managed by eBay.
On this article, you’ll learn how to avoid eBay managed payments if possible. First off, let’s explain what the eBay Managed Payments is all about.
- What Is eBay Managed Payments?
- How To Avoid eBay Managed Payments
- eBay Managed Payments Processing Time
- How Does eBay Managing Payments Work
- Do I Have To Change To eBay Managed Payments
- What If I Don t Want eBay Managed Payments?
- eBay Managed Payments Vs PayPal
- Best Bank Account For eBay Managed Payments
- eBay Managed Payments Issues
- How To Opt Out Of eBay Managed Payments
- How To Switch Back To PayPal From eBay Managed Payments
What Is eBay Managed Payments?
Like the name ‘managed payments’, it is simply a centralized platform which processes monetary transactions on eBay. The aim of the eBay managed payments is to offer buyers more payment alternatives, and provide sellers an organized platform to sell and get paid promptly.
With the eBay managed payments, buyers are offered several payment alternatives which includes debit, credit, and gift cards; Google Pay, Apple Pay, Payoneer, PayPal, as well as PayPal Credit.
The eBay managed payments does not require sellers or buyers to have a separate Paypal account.
How To Avoid eBay Managed Payments
There is absolutely no way to avoid the eBay managed payments as long as you are selling on eBay. The payment system became compulsory for every business owner in the marketplace. There is no way to avoid eBay Managed Payments. eBay has made it mandatory for all sellers to use Managed Payments in order to keep selling on eBay. If you do not provide the needed information for eBay Managed Payments, you will lose the ability to list items to your eBay store and receive payments.
If you strongly want to avoid eBay managed payments, then you have to stop selling on the platform. As long as you are selling on eBay, you must make use of the eBay managed payments. Learn How To Organize Ebay Inventory
eBay Managed Payments Processing Time
One of the positives that came with the eBay managed payments is fast processing time for both payments and payouts. Since transactions are completely handled by eBay within the marketplace, it no longer takes a long time for payments to be processed.
eBay payout time is now typically completed within one to three business days. Sellers get paid daily or weekly via direct payouts to their accounts; payouts are initiated within two days after order is confirmed during business week.
How Does eBay Managing Payments Work
The eBay managed payments ensures that there is flexibility in payments for goods and payouts. The system deducts selling fees and other costs automatically from seller’s funds that are awaiting payout.
When a buyer tries to make purchases, several payment options are made available to chose from, this ensures that every transaction takes place on eBay.
Unlike before where funds were being routed through Paypal which attracted additional charges, buyers and sellers can now conveniently carry out transactions without those extra charges.
Transactions are streamlined and this saves money and time. In summary, the eBay managed payments is a good innovation and will save a lot if properly managed. Learn how to sell video games on eBay
Do I Have To Change To eBay Managed Payments
The eBay managed payments is mandatory for all sellers on eBay, this means that it is an automatic process. Once you register as a seller and start selling on eBay, you make use of the eBay managed payments.
However, buyers can still make payments with Paypal, but sellers are receiving their payments directly into their bank accounts.
What If I Don t Want eBay Managed Payments?
As long as you want to continue selling on eBay, you must use the eBay managed payments. Not deciding to use the payment system is just like saying you don’t want to sell on eBay.
Sellers who refuse to use the new payment system may have their listings removed from the eBay platform, they won’t be able to accept payment from buyers. Also learn how to sell Vinyl records on eBay
eBay Managed Payments Vs PayPal
eBay Managed Payments and PayPal are two different payment processing platforms that can be used to sell items on eBay.
eBay Managed Payments is a newer payment platform that eBay has been rolling out to all sellers. It offers a number of benefits, including:
- Improved buyer protection: Managed Payments makes it easier for buyers to dispute transactions and get their money back if they have a problem with their purchase.
- Reduced fraud: Managed Payments helps to reduce fraud by making it more difficult for sellers to steal buyer’s money.
- Simplified selling process: Managed Payments simplifies the selling process by making it easier for sellers to receive payments and manage their finances.
PayPal is a more established payment platform that is also widely used on eBay. It offers a number of benefits, including:
- Wide acceptance: PayPal is accepted by a wide variety of buyers, making it easier to sell your items.
- Convenient: PayPal is a convenient way to pay and receive payments, as it does not require buyers to create an eBay account.
- Buyer protection: PayPal offers buyer protection, which means that buyers can get their money back if they have a problem with their purchase.
Comparison of fees
Here is a comparison of the fees charged by eBay Managed Payments and PayPal:
|Fee||eBay Managed Payments||PayPal|
|Final value fee||2.7% + $0.30||2.9% + $0.30|
|International fee||1.65%||Varies by country|
|Currency conversion fee||2.5%||Varies by currency|
The best payment platform for you will depend on your individual needs and preferences. If you are looking for a platform that offers improved buyer protection and reduced fraud, then eBay Managed Payments is a good option. If you are looking for a platform that is widely accepted and convenient to use, then PayPal is a good option. Read about SAP Business One eBay Integration
Best Bank Account For eBay Managed Payments
Here are the two banks that have been rated as best bank account for eBay managed payments.
- Chime: This account also offers no monthly fees, no minimum balance requirements, and reimburses all ATM fees.
- Capital One: Seamless connection to eBay with no unusual fees. Allows for opening of multiple savings accounts.
- Discover Bank Checking: This account offers no monthly fees, no minimum balance requirements, and 1% interest on balances up to $25,000.
- Axos Bank Checking: This account offers no monthly fees, no minimum balance requirements, and free ATM withdrawals at any ATM in the US.
- Charles Schwab Bank Checking: This account offers no monthly fees, no minimum balance requirements, and reimburses all ATM fees worldwide.
eBay Managed Payments Issues
Some of the reported issues regarding the eBay managed payments is delay in receiving payments, this is linked with issues with bank.
Although, eBay says payouts are processed within 1-3 days, several sellers have complained about having to wait for 4-5 days before getting paid unlike in the days of PayPal.
Another issue people complain about is the poor or delayed response from their customer service. A customer once tagged their customer service as ‘non-existent’.
However, there has been improvements with regards to payment processing in recent times, the company has continued to work hard to improve the managed payment system.
How To Opt Out Of eBay Managed Payments
Sadly, you can only opt out of the eBay managed payments when you stop selling on the platform. The eBay managed payments is compulsory for every seller on the platform.
Buyers can still make use of their PayPal accounts to make purchases, but sellers are now caged with the only option of either using the eBay managed payments or stop selling on eBay.
As a seller, the eBay managed payment makes it easy for you to sell on thee platform and get payouts without delays, it’s unlikely that you’ll want to opt out of the eBay managed payments. Also read how to change label size on eBay
How To Switch Back To PayPal From eBay Managed Payments
Because payments are now being processed by eBay, it is impossible for sellers to switch to PayPal. Sellers now have their payouts processed by eBay and not Paypal, but buyers can still make purchases through PayPal.
In summary, you can’t switch back to PayPal from eBay Managed Payment,. eBay has fully transitioned to Managed Payments and no longer supports PayPal as a payment option for sellers. If you want to continue selling on eBay, you will need to use Managed Payments.