ebay managed payments - anyone using this future mandatory service yet?

[teza11]

eBay needs your SSN to generate 1099's at year-end if you meet their reporting criteria.

Jeff

[BlueDevil89]

Well, they ain't gettin' my social security number.

eBay is ripe for identity thief hackers to target.

Rather buy and sell and trade cards here and elsewhere then give up my SSN. eBay is not my employer.

[earlywynnfan]

Originally Posted by BlueDevil89

Well, they ain't gettin' my social security number.

eBay is ripe for identity thief hackers to target.

Rather buy and sell and trade cards here and elsewhere then give up my SSN. eBay is not my employer.

Not disagreeing with the sentiment, but I bet 20 bucks your SS is already out there on the darkweb.

[Eddiez]

Has anyone else been paid in managed payments? I'm wondering do they pay you minus 10% for fees and 2.75% for managed payments? I've got 2 payments and it looks like they only took the 2.75%. Just wondering how this all will work, I think a lot of people are. Thanks for any info. Eddie

[teza11]

I've been paid. Here's an example of a single sale. Card sold for $19.95.
Shipping was another $4.20. Total order was $24.15. Appears they took 11.5% ($2.78) plus $0.30 for a total charge of $3.08. That leaves $21.07 as my MP payout.

I also just changed MP payouts from my bank to PayPal. I'll provide an update after the first transaction.

Jeff

[Eddiez]

Jeff,
Thanks for the info I'll have to take another look at my payouts. Are you saying you can have MPs go to paypal instead of your bank? If you do get that done please let me know as I want to do the same. Thanks Eddie

[teza11]

Completed my first eBay MP transaction between eBay and PayPal direct deposit. Very impressed. EBay sent payment early this morning and it was posted to my PayPal account by mid-afternoon.

Jeff

[thecatspajamas]

Originally Posted by teza11

I also just changed MP payouts from my bank to PayPal. I'll provide an update after the first transaction.

Jeff

Quick question, when you put in the routing and account number for your Paypal account on eBay, did it show up as a Wells Fargo account? That is what is happening for me when entering the account numbers manually. I'm guessing that if I dig into it far enough, I would find that Paypal is the "payments processor" only and any funds held in Paypal are actually in a Wells Fargo account, but that is just a guess. Anyway, just trying to verify if my sign-up experience is same as yours was. Thanks!

[Eddiez]

Jeff how do you get it changed over so your money goes straight to PayPal? Thanks Eddie

[savedfrommyspokes]

Originally Posted by Eddiez

Has anyone else been paid in managed payments? I'm wondering do they pay you minus 10% for fees and 2.75% for managed payments? I've got 2 payments and it looks like they only took the 2.75%. Just wondering how this all will work, I think a lot of people are. Thanks for any info. Eddie

I have now received multiple payments since I started Monday with MP. Here is what I have seen in regards to what is being taken out. First, any order of mine where my free s/h threshold is not met, the 12% + 30 cents is taken out of my available funds. However, on the orders where my free s/h threshold is met, neither the 30 cent transaction fee nor the 12% have been removed from my available funds, both costs/fees have been added directly to my monthly ebay account invoice. I prefer the fees to be added to my monthly invoice and to pay at the end of the month with my CC as I get a 2% kickback reward from the CC and I don't get that 2% back when ebay takes the 12% from my "available funds".

[thecatspajamas]

Originally Posted by savedfrommyspokes

I have now received multiple payments since I started Monday with MP. Here is what I have seen in regards to what is being taken out. First, any order of mine where my free s/h threshold is not met, the 12% + 30 cents is taken out of my available funds. However, on the orders where my free s/h threshold is met, neither the 30 cent transaction fee nor the 12% have been removed from my available funds, both costs/fees have been added directly to my monthly ebay account invoice. I prefer the fees to be added to my monthly invoice and to pay at the end of the month with my CC as I get a 2% kickback reward from the CC and I don't get that 2% back when ebay takes the 12% from my "available funds".

That is weird. The differing "fee extraction" timing, that is, not your preferences. I'm not looking forward to the learning curve in figuring out all the minute differences between eBay's "how we said it would work" and their "now that you're locked in, here's how it's really going down."

[savedfrommyspokes]

Originally Posted by thecatspajamas

That is weird. The differing "fee extraction" timing, that is, not your preferences. I'm not looking forward to the learning curve in figuring out all the minute differences between eBay's "how we said it would work" and their "now that you're locked in, here's how it's really going down."

My assumption is that for what ever reason, because the entire sale has a promotion (free s/h with "x" # of items purchased) that I set up through ebay, the selling fees are billed to my account rather than removed from my available funds.

This scenario has continued to occur with today's orders with promotions..... and again, this scenario is preferred

[MikeGarcia]

Originally Posted by teza11

eBay needs your SSN to generate 1099's at year-end if you meet their reporting criteria.

Jeff

..So then , just have two or three different E-Bay names and accounts , and keep total sales for each account under ten thousand $ in sales ?? ..I can't be the first tax-evading genius to think of this ??

..

[buymycards]

Originally Posted by MikeGarcia

..So then , just have two or three different E-Bay names and accounts , and keep total sales for each account under ten thousand $ in sales ?? ..I can't be the first tax-evading genius to think of this ??

..

Then you will have to provide your Social Security number for all 3 accounts.