@mtshed2014 wrote:
when you say "Bank deposit is not an option for sellers on managed payments." , how then does the money transfer from a buyers bank account to the sellers bank account ?
Adyen is a payment processor that is equipped to handle multiple payment methods, but bank transfer isn't currently one of them, and here I'm referring to the kind of payment where the buyer performs a direct transfer from one bank account to another, using BSB and account numbers; when sellers can offer this, they will receive that money directly into their own bank account. Other payment methods can debit a bank account and credit a different account straight away, but they aren't direct bank transfers, per se.
Did you ever receive a PayPal echeque, where the payment took several days to clear? That was the compromise between direct bank transfer and instant PayPal payment, and was subject to PayPal fees even though it was transferring money from a bank account to a PayPal account rather than a credit card payment (such transfers wouldn't incur fees if you made basically the same one from one of your own bank accounts to your PayPal account, but they did if a buyer made a transfer). You can liken eBay's managed payments system to this, in a way - the clearance time is faster than an echeque, but the time those funds actually become usable is about the same, so there are drawbacks to the system, more particularly in regards to cashflow.
The way it should work is funds clear to eBay first, then to the seller, then get disbursed to the seller's bank account per the options they selected (daily or weekly). The FVF inclusive of a payment processing fee applies because ebay's processor (Adyen) is supposed to be doing all the processing on all payments (as in, there is no option to make an online payment without going through eBay's checkout with Adyen processing the payment), except for cash on pick up, however because eBay didn't separate the FVF from the payment processing fee, cash on pick up will incur the processing portion of the fee regardless.
They (Adyen) can do credit / debit cards (the debit card has to be Visa or Mastercard, though), which is how the vast majority of buyers paid when they selected Paypal, either through their account (i.e. their card was linked to an actual account), or just through guest checkout which was still processed to the seller as a PayPal payment, plus they can process PayPal payments and a variety of others.
All this is to say that if you have been switched over to MP and are still receiving payments to a PayPal account, something has actually gone wrong.
