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New eBay payment method

A

amazement

pfm Member
Has anyone changed their payment method on eBay in place PayPal?
I received email today requesting I change my setting by where money/ fees are taken immediately from anything I sell and funds owing paid direct to my bank account.
What are the fors and against as a comparison to using PayPal?
 
Maybe this
https://tamebay.com/2020/02/new-ebay-payments-experience-coming-to-the-uk-this-summer.html

eBay have just announced the United Kingdom will be the third country to offer the new eBay payments experience. Following trial rollouts in the US and the Germany, eBay UK will be rolling out the new eBay payments experience starting this summer so this announcement is a very early heads up to expect changes in the payments space in the near future. In the early trials, eBay has already processed $2 billion in GMV for almost 25,000 sellers saving them, they say, $10 million in fees as of the end of Q4 2019.​
 
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Have to say I was never a lover of PayPal so I hope this new system treats sellers better with disputes, but I won’t hold my breath.
 
I dont think that was paypal so much as ebay.

I cannot say I do a lot of selling on ebay anymore.
 
For anyone not doing the maths - the saving claimed is 0.5%.

Just don't spend it all at once, will you.
 
For those who haven't noticed, anything bought on ebay via PayPal is now a payment to ebay, not the seller direct. ebay then passes on payment. This is a step to the much heralded introduction of a different payment system on ebay.

Another development, which I highlighted previously, is that ebay sends an e-mail to buyers highlighting that they can return the item, even if the seller does not permit returns, with no reference to the seller at all. Clearly, this has long been the case for business sales as a result of consumer legislation. For ebay to now force this on private sellers is just a further example of enay moving much more strongly to a business sales only platform
 
It appears eBay are now holding onto funds on items sold, I recently sold an item and am still waiting for eBay to transfer funds to my bank account even though I’ve used eBay for high value sale and purchase in the past.
I could understand if I was a new seller but this is taking the piss.
I thought PayPal was bad enough and with their extortionate fees I’ll be re thinking my future with eBay.
It’s just not cricket.
 
This sounds worrying if you ask me! Discuss..... :)

“Your payments are changing, are you ready?*
eBay now manages the end-to-end selling experience on our marketplace, including payments.

This means:
  • You get paid directly to your bank account, not your PayPal account, regardless of how the buyer chooses to pay.

  • We will initiate payouts within two business days of payment confirmation.

  • Your fees, expenses and charges will be automatically deducted.

  • No more PayPal payment processing fees or separate monthly fee payments.

  • Most sellers will pay the same or less than before.**
 
Was this not flagged-up on another thread a few months back?

Already happening outside the UK, and has been for a while?????????????????????
 
Don’t know just received an email about it so thought I’d share.

No more PayPal fees wooohooo thanks Ebay ! :)

Oh wait - just checked the small print

“The final value fee is calculated as 12.8%“ :(

So in fact you pay the same as the PayPal fees they are claiming we will be avoiding - just paying them to ebay instead, and on every single sale, even if someone pays cash on collection, or bank transfer.
 
jamington2004 said:
Oh wait - just checked the small print

“The final value fee is calculated as 12.8%“ :(

So in fact you pay the same as the PayPal fees they are claiming we will be avoiding - just paying them to ebay instead, and on every single sale, even if someone pays cash on collection, or bank transfer.
Click to expand...
Unless they keep running the £1 final value fee promos, in which case we will save on the current Paypal fees during the promo period.
 
Yes good point.

I wonder how it will work with them taking 2 days to send the payment opposed to PayPal being instant at the moment.

Will they say to send the goods immediately once the buyer has paid them by PayPal? I guess so.

I hope they don’t start forcing to use their ridiculous postage options for it to work. You can’t even choose RM special delivery - which is nearly always my preferred option...
 
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