Registration for Managed Payments

Do I have to register for Managed Payments or can I continue the way I am at present using Paypal and Bank deposit?  With Managed Payments, it appears that the fees will be higher.

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You don't have to register until asked.

I've been invited to pre-register, with the incentive that if I do it before 31/5, I will not have to pay insertion fees (presumably, ever).