Will sellers continue to sell on Ebay under the new EBAY MANAGED PAYMENTS??

[thecatspajamas]

Originally Posted by teza11

I spent an hour at BofA yesterday opening up a new bank account for the eBay managed funds program. I don't want to commingle my real-life banking activity with what I do on eBay. So what options could BofA offer this 30 year customer? A bs monthly fee or a required daily balance of at least $1500 to avoid any fees. Ugh!

Lance or others, let us know what you find out about using PayPal like a bank to deposit eBay funds into. Is it active, are there associated fees or minimums, etc?

Jeff

Originally Posted by Jim65

I heard DD is only available if you have the Paypal Cash Debit Card but I don't know if thats true.

So from what I have been able to find this morning, what James said is correct. If you have a Paypal Cash or Paypal Cash Plus debit card, there is an account and routing number associated with that which should show on your account page in Paypal that lists any credit cards or bank accounts you have associated with your Paypal account.

The down side (for me at least) is that you can only get the Paypal Cash Debit Card if you have a Personal Paypal account. If you have a Paypal Business account, the Paypal Cash Debit Card is not available. There is a Paypal Debit Mastercard you can get, which similarly lets you pay with a card drawn on your stored Paypal funds, but I have not found yet whether/where an account and routing number is provided for that card which would enable direct deposit for Paypal Business users.

It seems counter-intuitive to provide fewer features for the Business account than the Personal one, but my advice if you are setting this up would be to start with the Personal account for Paypal and add the optional debit card (which has no fees for most purposes, unless you're using it for cash withdrawals at an ATM or bank), and setting up Managed Payments to dump to your Paypal account should be relatively easy to accomplish from that point. I'm currently waiting for a response from Paypal Help for how those with Business accounts should proceed (the automated system did point me to the answers for Personal account users, but had no answers for my particular circumstance). Failing that, I guess I'll be looking into what it takes to downgrade to a Personal account, though if I recall correctly, that in turn would cause issues for anyone having Working Capital loans through Paypal.