Managed Payments activated - looks interesting

[jellybirddesigns]

I've been activated for the new payments system as of today (although I noted that some sellers are only going to be activated over the next week or so).

There's a new tab in the Seller Hub called "Payments" which looks straightforward. You can edit the settings there for your bank account and payment frequency.

It also appears that you can keep your Paypal account at the moment to settle any current fees/subscriptions, although possibly this will fall away once the system is fully in place.

For store holders such as myself, it will be interesting to see how we pay the monthly separate store fees. Maybe if we set the payment frequency to monthly, then we can make a payment for the store subscription from that buildup of funds before the nett amount is sent to our bank accounts.

[yarmak]

Maybe if we set the payment frequency to monthly,

You are willling to post stock up front without having the money in your account first / before you get paid? 

Dave

[jellybirddesigns]

@yarmak - I wouldn't post anything without cleared payment, but this new arrangement works similar to the other platform Etsy that I've been selliing on for several years.

Nett funds are held in your account and distributed to you bank according to what you set as your payment frequency. If money has not cleared, the order status shows as pending.

At the moment I have one order which shows as "Processing/Pending Funds" on my Seller Hub, so I won't post the item until it shows as "Available Funds". 

[yarmak]

Thanks Jelly really appreciateyou explaining that - so what you say your funds are held in your ebay account till placed into your bank account?  can you use the money in your ebay account to buy things?

Sorry if this sounds like a silly question

Dave

[jellybirddesigns]

@yarmak - I have not checked if the funds can be used to purchase anything.

Just also to update - the funds still indicated they were "processing", even when I woke up this morning. After looking around a bit more, it appears as though the funds have been received and cleared by Ebay as the item was sitting in the "Awaiting Postage" section of the Seller Hub. I think the continuous "processing" message relates to the funds transfer to my bank account.

[danieh_6]

Say you are trusted and get instant payments on paypal like me and most other people, are you getting paid into your bank automatically prior to shipping.

[jellybirddesigns]

@danieh - I believe the transfer of funds to the bank account can take 2-6 days (depending on bank), so as long as the Item is sitting in the "Awaiting Postage" section, I will post it.

The confirmation email from Ebay also says that its been bought and paid for and to ship.

[danieh_6]

Hi, I think you misread my question, if you are trusted seller, does the payment become available immediately?

[davewil1964]

Have a read of what's been posted. Until somebody actually gets money in their bank account, nobody knows.

[danieh_6]

Yes, you too man, I understand that, but what they answered wasn't my question. I purely asked if you are trusted seller, does the payment become available immediately. Aka can you withdraw it like cashflow like similar functions to paypal even if this hasn't been shipped. I never asked if anyone got their first payment, nor did anyone reply directly to my question saying they had been paid yet. I know its all new I was just asking a question