Managed Payments First Sale Fees Cost More - DEFINITIVE

[waddingtonfirstaid]

As expected, our first ever sale under the new Managed Payments cost us more in fees.

The whole hype about it being better for us, especially the claims about being cheaper, are utterly and definitively FALSE as noted by our very first sale.

You would have thought, with such a grand change to the way eBay went about this change, they would have ensured everyone shared in a financial benefit. But no, we've been difinitively conned. This is the true face of the entity we deal with which put manager bums on cushy chairs, the very people who rely on their own exisitance is us, the sellers, who have been totally and shrewdly conned. We had it pretty well worked out in a thread several months ago and obviously eBay management couldn't have cared less, but now it's definitive.

$24.95 sale on 7th June 2020 just before Managed Payments switched on:

eBay FVF (Final Valuation Fee): $2.61

Paypal Fee: $.95c

Total of Fees: $3.56

Amount instantly appearing in my Paypal account on 7th June 2020: $24.00

Amount I actually received after eBay fee statement paid: $21.39

$24.95 sale just after Managed Payments switched on:

eBay Managed Payments Fee including FVF: $3.60

Amount I'm due (eBay "Payout is on it's Way" email notification came in 4 days after the sale and advises it will be another 3 - 4 days until I have the money in my bank account) in a week or more time: $21.35

.04c mightn't seem like a lot but we are talking about a very modest sale. Where the .04c speaks volumes is how a large entity like eBay, couldn't have the decency to ensure it would be at least a .04c saving rather than an impost that goes against all the Managed Payments hype they landed upon us. If they were really intent on making things beneficial for us, they would have made sure it really was.

Not only am I paying more in fees, I have to wait over a week for the money I'm left with (yes, we have it set to "daily" transfer as per eBay assistance during a lengthy phone call from eBay to us. Moreover, the Managed Payments come through in lump sums, an absolute nightmare for reconciling against individual invoices. For sellers who may use Xero Accounting, there is no mention of an eBay-Xero developed reconciliation portal for this to be reasonably automated. This alone will force a lot of sellers out of eBay.

[shoppingbro]

Sorry if this has been answered but I made a few sales yesterday and all my sold items as

“The buyer has already paid. Funds are being held temporarily while the payment is processed.”

It’s been over 24 hours now.
Does Ebay send you a message when they transfer your money to your bank account?
How long does it usually take for them to start the transfer?

[philb9053]

Fees are LOT more for me.

Ive had enogth sales now to know.

One example on a low cost $12.00 purchase.

Before profit was 78%

Now 32%

Its the same on larger order to.

Losing heaps now!

[davewil1964]

So you're saying that eBay charged you $8.16? Did you pay the same price for this item as the previous item?

You would have to provide some real figures for your claim to be taken seriously.

[philb9053]

Sorry, im factoring in shipping and everything.

Fee before was: 70c

Now $1.25

On a small $12.00 order

[davewil1964]

70c? That's less than 6%. You must have an anchor store.

Apart from that you have failed to factor in that the Paypal fee is now subsumed into the MP fee. On $12 that would be 61c, so you're actually in front by 6c.

[jfmgray]

In the media category, the difference in fees for managed payments is very marginal - its a few cents either way for me depending on the sale price. Anything less that a $12 sale the fees under managed payments is 1 or 2 cent more that previous. Over $12 the fees are less. A $25 sale was 2 cents less fees. A $30 sale was 3 cents less.

[philb9053]

Hi.

It was 70c, its now $1.25

[davewil1964]

And no Paypal fee.

It's not hard to work out.

You take the cost of purchase, deduct the cost of postage, deduct the TOTAL fees paid, and get your profit.

Given the figures YOU have provided, you are certainly not on the hole for 55c.

I really hope you have an accountant working for you.

[thatjewellerystore]

I've only had 7 sales since being activated for Managed Payments.

Here is the comparison of old fees vs new fees:

Sale       PP Fee      eBay Fee      Total      Difference      MP fee
$16.95   -$0.74         -$1.59          -$2.33    $0                   -$2.33
$17.95   -$0.77         -$1.69          -$2.46    $0.02              -$2.44
$11.45   -$0.6           -$1.08          -$1.68    $0                   -$1.68
$20.95   -$0.84         -$1.97          -$2.81    $0.01              -$2.8
$11.95   -$0.61         -$1.12          -$1.73   -$0.01              -$1.74
$16.95   -$0.74         -$1.59          -$2.33    $0                   -$2.33
$18.5     -$0.78         -$1.74          -$2.52    $0.01              -$2.51

Totals
$114.7    -$5.08        -$10.78        -$15.86  $0.03            -$15.83

So far I am seeing a saving of $0.03 

[hobby_cds]

Had to laugh at the post saying instead of blaming ebay blame your bank....Was online talking to an ebay agent on Wednesday that means they send you the money FRIDAY. That is Ebay sending the money to your account not the bank processing the transaction. So in turn it is a 48 hour dealy from the time the buyer purchases and pays until Ebay are processing the payment. 

My wife works for the bank we use and if someone was to pay via paypal and we transfer the funds before 12 noon we receive the funds the next morning without fail. This granted is a smaller bank but they process tons of payments daily. 

So are ebay to blame for the slow processing? Of course they are! They are holding onto funds and anyone smart enough to know short term investments are a common place to be making tons of money off the money we should be entitled to have. 

The best fact is their "You have access to these funds" statement from a sale? Really? three days later and waiting on $600 in one of our accounts.....Disgraceful!