Reads like Ebay have sacked off paypal as their preferred payment method for sellers

From what have read and have set up it looks like ebay are going to start paying sellers direct to their banks avoiding paypal

which means no more paypal fees for sellers 

a big thumbs up yep?

 

 

Edited February 25, 20214 yr by Mike
title updated

email blurb

Congratulations! Since you updated your account details, eBay is now managing payments for your account.

This means:

You get paid directly to your bank account, not your PayPal account. If you haven’t already done so, please add a bank account so you can get paid. You can add your bank account from the Selling Overview in My eBay or from the Payments tab in Seller Hub.

No more PayPal payment processing fees. No more separate monthly fee payments. You will pay an updated final value fee¹, consisting of a category-based percentage of the total amount of the sale, plus a fixed fee per order.² Most sellers will pay the same or less than before.³ See fee details

We will initiate payouts within two working days of payment confirmation. You may choose to receive available funds to your bank account weekly or daily, as funds are available. Learn more about payouts.

What’s more

Your eBay selling fees and expenses will be automatically deducted from your earnings before you get paid. The remainder of your earnings will go directly to your bank account. Examples of eBay selling fees include but are not limited to: insertion fees, listing upgrades, and Shop subscription fees.

You can cover the costs of refunds and other charges from your bank account or credit card when your available, processing and on hold funds are not sufficient to cover the refund amount.

You can access everything you need on eBay: consolidated fees, refunds, returns and more. You can view all your Payouts activity in Payments options in My eBay or in the Payments tab in Seller Hub.

Get more help with managed payments. Keep up to date on the Seller Centre.

Well it doesn't seem like much has actually changed, just ebay are now taking a slice of cash payments (dressed up as being of great benefit to sellers).

From the money-saving website;

" eBay sellers will soon be paid directly into their bank rather than into PayPal accounts. It means PayPal will no longer take a slice of your earnings, but eBay's hiking fees. We explain the full details on what's happening and who the winners and losers are.

Currently, PayPal is the only option eBay sellers have to receive money from sales unless they get cash in hand, so switching to using bank accounts is a big shake-up – although it's worth pointing out that buyers can continue to use PayPal and other methods to send payments.

The changes are being gradually rolled out to private sellers from now until the end of 2021.

Our eBay Selling guide takes you through how to cut fees and boost sales when flogging your unwanted junk. Plus see how to avoid fees altogether by selling on Facebook Marketplace.

How are eBay's fees changing?

This is what's happening for private sellers below (business sellers may pay slightly different fees):

Existing system. When an item sells, eBay charges a flat 10% of the sale price, including postage. PayPal's cut is 2.9% of the final amount, including postage, plus 30p for each transaction.
So sell something for £10, plus £3 delivery, and eBay will take £1.30 while PayPal takes 68p. This leaves you with £11.02.
Alternatively, sell something for £100, plus £2.50 delivery, and eBay will take £10.25 while PayPal takes £3.27. This leaves you with £88.98.
 

New system. eBay will charge a final value fee of 12.8%, including delivery, plus 30p per order, while PayPal will be cut out of the equation. This means you'll be fractionally better off.
So take your £10 sale, plus £3 delivery, and eBay will take £1.96, leaving you with £11.04.
Alternatively, sell something for £100, plus £2.50 delivery, and eBay will take £13.42, leaving you with £89.08.  

It's not just sellers fees that are changing. Here are some other points to note:

You'll still be charged for cash in hand. A big downside is that currently some sellers avoid PayPal fees eating into their profits by taking cash in hand on collection. But eBay will still charge the new higher fee even if you accept cash. It will do this by debiting the fee from the "preferred" account you've listed on its records.
 

Payments will take longer process. Under the changes, cash will now take two working days to hit sellers' accounts – unlike with PayPal, where it's instant. So if you get paid on a Saturday, the cash might not reach your account until Tuesday – although you can choose to schedule payments daily as funds are available, or weekly "

36 minutes ago, Modularman said:

Well it doesn't seem like much has actually changed, just ebay are now taking a slice of cash payments (dressed up as being of great benefit to sellers).

From the money-saving website;

" eBay sellers will soon be paid directly into their bank rather than into PayPal accounts. It means PayPal will no longer take a slice of your earnings, but eBay's hiking fees. We explain the full details on what's happening and who the winners and losers are.

Currently, PayPal is the only option eBay sellers have to receive money from sales unless they get cash in hand, so switching to using bank accounts is a big shake-up – although it's worth pointing out that buyers can continue to use PayPal and other methods to send payments.

The changes are being gradually rolled out to private sellers from now until the end of 2021.

Our eBay Selling guide takes you through how to cut fees and boost sales when flogging your unwanted junk. Plus see how to avoid fees altogether by selling on Facebook Marketplace.

How are eBay's fees changing?

This is what's happening for private sellers below (business sellers may pay slightly different fees):

Existing system. When an item sells, eBay charges a flat 10% of the sale price, including postage. PayPal's cut is 2.9% of the final amount, including postage, plus 30p for each transaction.
So sell something for £10, plus £3 delivery, and eBay will take £1.30 while PayPal takes 68p. This leaves you with £11.02.
Alternatively, sell something for £100, plus £2.50 delivery, and eBay will take £10.25 while PayPal takes £3.27. This leaves you with £88.98.
 

New system. eBay will charge a final value fee of 12.8%, including delivery, plus 30p per order, while PayPal will be cut out of the equation. This means you'll be fractionally better off.
So take your £10 sale, plus £3 delivery, and eBay will take £1.96, leaving you with £11.04.
Alternatively, sell something for £100, plus £2.50 delivery, and eBay will take £13.42, leaving you with £89.08.  

It's not just sellers fees that are changing. Here are some other points to note:

You'll still be charged for cash in hand. A big downside is that currently some sellers avoid PayPal fees eating into their profits by taking cash in hand on collection. But eBay will still charge the new higher fee even if you accept cash. It will do this by debiting the fee from the "preferred" account you've listed on its records.
 

Payments will take longer process. Under the changes, cash will now take two working days to hit sellers' accounts – unlike with PayPal, where it's instant. So if you get paid on a Saturday, the cash might not reach your account until Tuesday – although you can choose to schedule payments daily as funds are available, or weekly "

yep not as clear cut as I first thought, have changed title to reflect this

Maybe paypal will lower its fees to remain competitive?

This may happen after that fabled box of 200 original Frank Wilsons turn up.

Ed

Anyone know how this will affect buying in $ from the States etc?

I thought Ebay had upped their take. Now confirmed.

Although it’s basically same end result they are still robbing gits.

Bloody robbery including postage into fees.

Yer , ebay are putting charges on everything they possibly can. Ive been charged for ending listings , theyve also been relisting alot of my items automatically , They charge a fee for this , even though i didnt set any listings like this , so ive got to revise them all manually to untick the box , 400 items is alot to go through. They are very crafty , underhanded

On 25/02/2021 at 01:16, Mike said:

yep not as clear cut as I first thought, have changed title to reflect this

When Ebay sacked off Paypal in 2015 we wondered how long before they did this.

There are also rumours that our Chancellor is planning xtra postage taxes to add to the expenses of selling on line and speaking to his G7 colleagues in the near future to hike up even more taxes

Edited February 28, 20214 yr by Blackpoolsoul

Perhaps the bonus of this will be tunes to view and buy at venues again.

I've stopped selling on ebay now. Had my account hacked the other year & I'm not putting my bank account details on there. I see that they don't put the money into your account until after 2 business days whereas with Paypal it was instant payment.

I'll still buy on there when it suits & the price is right but from now on will sell on here & occasionally when I can be bothered on Facebook.

53 minutes ago, Dave Morris said:

I've stopped selling on ebay now. Had my account hacked the other year & I'm not putting my bank account details on there. I see that they don't put the money into your account until after 2 business days whereas with Paypal it was instant payment.

I'll still buy on there when it suits & the price is right but from now on will sell on here & occasionally when I can be bothered on Facebook.

I do wonder (as Paypal have my bank details) about which method is safest and how many companies can guarantee our financial safety in the future.

My daughter (23) said that her partner had dropped their card and someone had used it 3 times 30p, £3 and then £30 as she gets notified on her phone. She said she had phoned the police and they won't investigate as too little amount !!!. 

I guess I am trying to ask how far we are ever going to be protected by the big Corporations like Ebay and others, who claim they hold our details safely, but it appears that hackers will get better and better.

Can't see it myself

I deffo feel safer with PayPal than I ever would with EBay.

I am the same as others.Occasionally buy but stop selling end of this month.

I have sold a few items (not records) always waiting for the £1 maximum selling fee offer.   Sold an item for £370 + £10 postage, two days later received direct into my bank account £379.   No paypal fees as there would have been under old system.  Will just see how it pans out with EB though.

 

I had the email to put my bank details in for this....shouldn't they already have your banking details from when u first started selling ?

I haven't sold on eBay for a good while and don't plan on it anytime soon, so as a seller I haven't looked into this too much. However, as a buyer, I do occasionally use eBay, so how will it affect purchases? Presumably we would not be able to use Paypal, and have to use CC or DC, and be paying eBay, rather than the seller, much like when buying from CD&LP or Gemm when it was around.

 

Edited March 2, 20214 yr by Mick Holdsworth

7 minutes ago, Mick Holdsworth said:

I haven't sold on eBay for a good while and don't plan on it anytime soon, so as a seller I haven't looked into this too much. However, as a buyer, I do occasionally use eBay, so how will it affect purchases? Presumably we would not be able to use Paypal, and have to use CC or DC, and be paying eBay, rather than the seller, much like when buying from CD&LP or Gemm when it was around.

 

I have just purchased a MAC from Ebay 30 minutes ago and it asked for Paypal (CC)

You can at the moment, and some sellers are still using Paypal.

Having said that I've just read a post earlier from modularman that "it's worth pointing out that buyers can continue to use PayPal and other methods to send payments".

So that's all good then.

Edited March 2, 20214 yr by Mick Holdsworth

I received the email and thought it was a scam to get you to click on the link.

On 24/02/2021 at 21:51, Mike said:

Reads like Ebay have sacked off paypal as their preferred payment method for sellers

From what have read and have set up it looks like ebay are going to start paying sellers direct to their banks avoiding paypal

which means no more paypal fees for sellers 

a big thumbs up yep?

 

 

They'll take the fee?