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‘eBay Balance’ to replace Managed Payments
 

I assume it applies to both business and private sellers? . It currently annoys me that some postage label costs are deducted from my balance. I would rather use a card so I can see the transactions now easily (and earn cashback for the spend).

I certainly would not want to spend my balance for purchases. That will nullify any purchase protection I get from a credit card for example. Ebay purchase protection isn’t bad but still… Any thoughts and concerns about the new arrangement?

I only use a private account and don’t sell as much nowadays

Re: ‘eBay Balance’ to replace Managed Payments
 

Just Private sellers.

You can always select the method of payment for labels, you're never forced to use your funds.

You make a valid point about purchase protection, it can be overridden to your card even if you have funds in your balance.

Ebay are encouraging folk to spend rather than withdraw, as a business seller I think it's a great move by eBay.

You can still withdraw your funds, just has to be done manually now.

Unlike Paypal funds,Ebay fund in your account can only be used on Ebay,so if you have no plan to buy anything on Ebay or shipping label,you have to transfer the fund yourself to your bank account.
Ebay buyer protection is only good for 30 days,while credit card you can file chargeback up to 180 days.
Some of you may not know this-
there are a large number of sellers who collect SSI $$ and the state will deposit the money into their bank accounts,at the same time,it will notice seller having other sources of income ,if that income exceeds more than allowed by SSI,it will either penalise the seller or reduce the payout.
By keeping the sales proceeds in their MP account,they can avoid such state scrutiny.
Qyestion-
if the buyer is using his MP fund in his account,does the seller get more $$ as there is no card processing fee involved,which comes to 3% plus transaction fee?

with Paypal,it makes no difference,sellers still have to pay as if the buyer is using a credit card.
But just to be fair,no one works for free,it takes money to keep the site running and meeting payroll,so whether it is Paypal or AMZN or Ebay,they need the money to pay their bills.

Some of our local retail stores and services are now charging 3% if you use a card,debit or credit

I think it is against MC/VISA rule to set the minimum at $5,you can report them .
Local dollar store used to cringe when they see customers using their credit cards
I dont know about the 3% fee,but these days UTILITY COMPANIES like Comcaste will give you a discount if you let them debit your bank account. via auto payment

I am sure Ebay will come up with a way to keep both big and small sellers happy,it is not difficult

how do you make money off credit cards that the issuers suspend you?
They have cards issued for business accounts which earn bigger cashback.

It reminds me of All You can Eat Buffet.
If you eat too much,they are not going to like it.
They can even charge you more.

I use my AMEX card to buy grocery,I get 6% cash back for grocery up to $3600/year.
Not sure if it is exactly $3600,but there is a cap .
For others,I get 1%.
There is a $95 annual fee
I like their customer service,much better than the banks and there is extended warranty for items I purchased

grocery is 6%,others may vary 1-3%,they have more than one type of AMEX card,some have no fee,but this one does,
they also have high yield saviings account,these days the rate is 4%.
Ebay does not accept AMEX anymore,but you can still use AMEX via Paypal.in fact once they even offer you $5 if you spend $35.
I like them because of their customer service,some of their reps are familiar with AMZN,Ebay
here is the link,for grocery 6% up to $6k,then 1%
streaming is also 6%
https://www.americanexpress.com/us/c..._cashbackcards

6% on grocery and streaming,these days a family of 4 easily would spend $6000 /year on food,thats $360,enough to pay for the $90 annual fee(or is it $95).

In the past,Paypal has problem with some Eastern European countries,Carribean countries and some Asian countries like Philipines,Vietnam .
But I think Adyen can do better.

The last thing a fraudster want to do is to use his Ebay fund to buy on Ebay for reselling.

You would be surprised there are still a lot of banks overseas that can generate a UK account number and sort code that
can you name a few?

Ebay is mimicking Paypal,when you get paid via PAYPAL,the fund stays in your Paypal account,until you spend it or withdraw to a bank account.
But you can use a Paypal debit card and shop as if it is a credit card and earn 1% cash rebate from Paypal,Ebay could do the same ,by issuing you a debit card and ask you to use it as a credit card.
By doing so,you can now spend your ebay fund outside Ebay and allow Ebay to earn some money (only when you use it as a credit card)

[
Originally Posted by JamesNorth101 View Post
You would be surprised there are still a lot of banks overseas that can generate a UK account number and sort code that can be used in the UK. The main high street banks are stricter but there are still dozens of easy to open options for people based overseas wanting to run a .co.uk account and withdraw.
-------
can you give us names? of such banks??
what is EMI?
I have not heard of foreign banks passing out UK bank codes,even HK Shanghai bank cannot do so,although you can move money around from HK SHanghai in HK to HK SHANGHAI in India or UK.
For those of you who are reading this thread and are in USA and need to file US income tax return,there is a line on the 1040 which ask if you have any overseas bank accounts,so be careful

how do you do a chargeback with Ebay fund?

Re: ‘eBay Balance’ to replace Managed Payments
 

No card processing fee but still a fee for using the payment service - I don't know the exact % fee but there is always a money grab

Re: ‘eBay Balance’ to replace Managed Payments
 

Interesting irony of use "just to be fair"... :)

Re: ‘eBay Balance’ to replace Managed Payments
 

Only for now. Currently, if I buy a Royalmail label, it uses my card. Fine but think they might change this.

If I wanted an Evri label, it gets deducted from my balance (I don't seem to have a choice and regardless of setting the default method, it deducts from the balance) UNLESS I click on the 'legacy packlink' link, then make the purchase on the packlink page that opens, which they say they will discontinue later. In which case, it seems like I will be eventually forced to use my balance for all deliveries purchased through the site. Smart move for them as it will likely save them millions a month in card fees. Of course, we could always buy the postage direct with the courier but that's less convenient in some cases.

For purchases...not sure if they will give us the option of using a payment card / PayPal but currently, doesn't sound like it. Withdrawing your funds first and then purchasing would default it to a payment card if your balance is zero. I know this works as I've done this for refunds sometimes.

Has this been rolled out in the US / elsewhere already then?

So they'll have a different system for each type of seller. Interesting.

On the whole, it's not a bad deal if there's no selling fees other than the purchase protection thing. 30 day protection vs 180 protection is significant and I'd still want to earn cashback / points by using payment cards and not my eBay balance.

Re: ‘eBay Balance’ to replace Managed Payments
 

For buying, agree with the 180 protection and earn points via the cc route

Re: ‘eBay Balance’ to replace Managed Payments
 

That used to be a thing here but the Gov or the card companies made it against the rules for stores to do this. Still happens with online payments to government services if you use credit cards. Some insurance companies used to but not seen it happen lately.

Some Small retail stores now just enforce a minimum spend E.g £5. That way people popping in for a bottle of water or chocolate bar will have no choice but to pay cash.

Re: ‘eBay Balance’ to replace Managed Payments
 

It will be interesting after the 16th to see if you get immediate payment or next day release into your bank?

Re: ‘eBay Balance’ to replace Managed Payments
 

They will roll it out testing with private making sure to iron out any issues then swap business accounts over to it I expect

Re: ‘eBay Balance’ to replace Managed Payments
 

Only time will tell but I doubt they will.

This is an incentive to get private sellers, ditching their unwanted personal stuff, to spend their earnings on ebay - primarily with business sellers.

I've never spent a penny with ebay via my business accounts in 15 years or so and I'm small fry, the biggies surely don't.

To tell us we have to manually withdraw our funds would be an unwanted inconvenience for me, for big seller with massive turnovers who rely on automation, like Argos, Currys etc it would be a positive pain in the arse. I'd be amazed if ebay tried it, it wouldn't go down well and there would be a kickback from most serious businesses.

Re: ‘eBay Balance’ to replace Managed Payments
 

@Delta1

In regards to cashback I used to love earning that on my business purchases but amex algorithm got wind of me making money off them via cashback and suspended my account.

I have also been warned by another popular credit card bank.

They hate it when we make money off them but love it when we are in debt.

Re: ‘eBay Balance’ to replace Managed Payments
 

Way to be creative and find loopholes in the model - too bad you got shut down

Re: ‘eBay Balance’ to replace Managed Payments
 

I've never heard of credit cards / bank cards suspending you for earning 'too much' cashback. Surely, the more you spend, the more they earn also from transaction fees. If they don't want to pay out too much cashback then they can simply cap it. They already limit what transactions qualify for cashback e.g. payments to financial companies don't earn any. I would think they'd like big spenders. Many have already reduced the cashback offerings.

Mine are all personal cards other than the PayPal Business Debit card. I have multiple credit / debit cards.

Some debit cards like Chase and Trading 212 offering cashback cap the amount of cashback to £15 / £20 per month. 1% / 1.5% cashback.

Other cards offering cashback those don't seem to impose a cap. Amex, I mainly earn Nectar points currently.

Find a different provider? Spread it out by using mulitple cards?

Re: ‘eBay Balance’ to replace Managed Payments
 

and so it begins....anyone kind enough to screenshot how it looks on their payment page, this new "ebay balance"....i would but i have no available balance at the moment.

by the way, americans! did not know you guys had an "express payout to cc option" all this while on your ebays.Y'all living it up in the states! and you have access to the funds in your account within 30 mins!!!! ill be damned.Ebay hurry up and bring this functioin to the UK.dont mind paying the flat fee for this

Re: ‘eBay Balance’ to replace Managed Payments
 

Looks pretty much the same. The only difference is the automated withdrawals, daily, weekly monthly etc have gone and it has to be done manually.

I've just made two withdrawals, one to Barclays, one to Wise and they hit my accounts in seconds.

Re: ‘eBay Balance’ to replace Managed Payments
 

that is great news!!!within seconds wow love the sound of that

Re: ‘eBay Balance’ to replace Managed Payments
 

sorry...you have two bank accounts attached to your ebay? i didnt know you could have two

Re: ‘eBay Balance’ to replace Managed Payments
 

Two different accounts.

Re: ‘eBay Balance’ to replace Managed Payments
 

To be fair, it's always been like that.

IMO ebay send all payments instantly, any delays are not of their making.

Re: ‘eBay Balance’ to replace Managed Payments
 

ive never received paynments into account within seconds, its always been a day later

Re: ‘eBay Balance’ to replace Managed Payments
 

What bank are you with? 'Some' bank to bank BACS transfers are slower than others even if they are 'Faster Payments'. All the big banks should be pretty much instant.

I only have one bank account added but I could add an alternative if I wanted to.

Did you have Daily scheduled payments maybe? First day is when the money is 'processing' so can't be withdrawn anyway so you'll get it the following day in the early hours.