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-   US Managed Payments (https://www.aspkin.com/forums/us-managed-payments/)
-   -   ebay Managed Payments question on payouts (https://www.aspkin.com/forums/us-managed-payments/129516-ebay-managed-payments-question-payouts.html)

robbcarpdm 09-06-2019 06:35 PM

ebay Managed Payments question on payouts
 
Question for someone doing MP already

Is each transaction paid to your bank account separately or do they aggregate the day and deposit that amount?

Reason asking is my bank charges a fee per transaction of .35 after a certain number and this going become a significant charge for me given my low transaction value....so just trying to plan

Note I have an LLC

Trying to change another account to my Sub S to avoid my personal name attached just in case I have account troubles done want one to affect the others.

leighanns520 09-07-2019 07:28 PM

Re: ebay Managed Payments question on payouts
 
Quote:

Originally Posted by robbcarpdm (Post 1032136)
Question for someone doing MP already

Is each transaction paid to your bank account separately or do they aggregate the day and deposit that amount?

Reason asking is my bank charges a fee per transaction of .35 after a certain number and this going become a significant charge for me given my low transaction value....so just trying to plan

Note I have an LLC

Trying to change another account to my Sub S to avoid my personal name attached just in case I have account troubles done want one to affect the others.

All payments that become available for payout are in one total for me regardless of how many sells or the number of buyers
When money hits my bank it is all in one transaction
That's how mine is. I would think all are but don't know about the other sellers payments

agent006140 09-08-2019 09:23 AM

It should be one lump sum,if you want the details,you have to go to your Ebay seller account or your own sales ledger.
Why is your bank charging 35 cents for incoming deposit?is it because it is a commercial account?
what is the name of your bank?

Chase charges a withdrawal fee if I exceeds 6 withdrawals in a month,but no fee for deposits,the more the merrier,but mine is a personal saving account

Quote:

Originally Posted by robbcarpdm (Post 1032494)
Yes these are biz accounts and I get 300 a month for 20 or 100 for $10 so it looks like I can do 100 as there are only 30 days in a month.

Thank you all for the help on this....I assumed it was one grouping per day but did not want to assume .

So if i understand MP.....you have to prove bank account at $4k a year and they want SSN or EIN verification at $10k a year is this correct?

Thanks

why cant you ask your bank to waive the deposit fee,they make money with your money,the more the merrrier?

Quote:

Originally Posted by phaz0rz (Post 1032442)
That's a national regulation. You can only transfer money out of/withdraw from a savings account 6x per month without being penalized (at any bank).

@the OP - All your payments for a given day are combined and sent as one payout. That's how it works for everybody.

he is not withdrawing,he is depositing.
but his is a commercial checking account ,not personal savings.

phaz0rz 09-08-2019 09:30 AM

Re: ebay Managed Payments question on payouts
 
Quote:

Originally Posted by agent006140 (Post 1032441)
Chase charges a withdrawal fee if I exceeds 6 withdrawals in a month,but no fee for deposits,the more the merrier,but mine is a personal saving account

That's a national regulation. You can only transfer money out of/withdraw from a savings account 6x per month without being penalized (at any bank).

@the OP - All your payments for a given day are combined and sent as one payout. That's how it works for everybody.

robbcarpdm 09-08-2019 02:16 PM

Re: ebay Managed Payments question on payouts
 
Yes these are biz accounts and I get 300 a month for 20 or 100 for $10 so it looks like I can do 100 as there are only 30 days in a month.

Thank you all for the help on this....I assumed it was one grouping per day but did not want to assume .

So if i understand MP.....you have to prove bank account at $4k a year and they want SSN or EIN verification at $10k a year is this correct?

Thanks

Leader2dark 09-11-2019 08:30 AM

Re: ebay Managed Payments question on payouts
 
you have to prove bank account at $4k a year and they want SSN or EIN verification at $10k a year is this correct?

What does this mean?

phaz0rz 09-11-2019 08:58 AM

Re: ebay Managed Payments question on payouts
 
Quote:

Originally Posted by Leader2dark (Post 1033058)
you have to prove bank account at $4k a year and they want SSN or EIN verification at $10k a year is this correct?

What does this mean?


I've only seen that mentioned here.. nothing from eBay about those alleged regulations.

I don't see how they could be requiring EIN/SSN verification when that's information they require from you during registration. I guess it's possible they're asking for bank statements after $4k but I can't think of any reason they'd do it at that point instead of when you add the bank account.

:noidea:

robbcarpdm 09-28-2019 09:37 PM

Re: ebay Managed Payments question on payouts
 
When i signed up for MP with LLC they immediately wanted EIN and also SSN of primary beneficiary.

I had three effectively links accounts at present.....i put up a listing on one and it sold way too fast that they looked at it as too good to be true and to protect ebay members they suspended a Power Seller account indefinately......I didnt think it would go that fast and it did look to good to be true but it was legit. Basically it was $30 off $50 coupon. so it looked too good to be real. Next time I price so as to move slower and not tip any flags as the listing was sold out in less than 12 hours.....I think that triggers flags on new listings with multiple items go that fast....as there are scammers doing things like that.

Anyway they did not kill all the accounts just the one they found offending....so even though they are linked it appears that as long as it is not obvious fraud they dont kill all the associated accounts...

So far so good......was thinking of calling on the one they killed to ask but then decided best not the kick a sleeping dog.....time to add a bunch of stealth accounts.

leighanns520 09-30-2019 07:06 PM

Re: ebay Managed Payments question on payouts
 
Quote:

Originally Posted by Leader2dark (Post 1033058)
you have to prove bank account at $4k a year and they want SSN or EIN verification at $10k a year is this correct?

What does this mean?

My request came after reaching 4 thousand in sales with managed payments.
The request was to update bank info. They wanted my eBay name to match what was on bank records. I had to add middle initial to eBay account, to match bank name. Also uploaded bank statement. I have read on eBay forums that when hit 10 thousand another threshold is met and new requests. Not sure what the request will be tho. I will be close to that amount sometime this month so will see what is asked next.
On a positive tho...I was only having held payments for about two to three hours. They checked the requested info rather quickly and all was good do go.

HurricaneHuntr 10-09-2019 01:00 PM

Re: ebay Managed Payments question on payouts
 
the requesting EIN and SSN is a real problem... If it was just EIN there is tons of solutions for that.. .But the SSN of the primary as well as EIN.

iamlmfao 10-16-2019 04:25 PM

Re: ebay Managed Payments question on payouts
 
Quote:

Originally Posted by Moscutter (Post 1040034)
the requesting EIN and SSN is a real problem... If it was just EIN there is tons of solutions for that.. .But the SSN of the primary as well as EIN.

Time to work some magic bro, thats if you gotta eat. These muppets have no clue what humans will do to survive. Oh well dog eat dog.

prodigyace 10-17-2019 06:51 AM

Re: ebay Managed Payments question on payouts
 
I remember reading somewhere in this forum that you should be okay with providing social one time if you're running MP as long as the name AND address don't match a previously suspended account.

If you have multiple eBay accounts, that's where issues can arise.


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