7/28/2023 0 Comments Ebay coins managed payments![]() That way we can get the item out in a timely manner. Unfortunately, because of the 3-5 business day delay in receiving funds, we are stuck paying out of pocket.īecause freight shipping is a little more complicated than shipping Fedex or UPS, we get started on our pallets as soon as the sale happens. We have a Paypal credit card that we could access to purchase the pallet supplies and also pay for the freight shipping costs before shipping to the buyer. When someone purchased our items, we could access the money right there. When using Paypal, we had access to our funds immediately. ![]() So when we are delayed receiving it, we are stuck coming up with the funds before those funds are made available in our account. This amount is included in the transaction for the sold item. ![]() Paying Up Front for Freight Charges:Īs most of you know, with our business model selling high-dollar, large items that need to be freight shipped, not getting our money immediately poses a problem.Īlthough freight shipping isn’t as complicated as people think it is, there is a cost to getting the supplies together to build the pallet and the shipping can be anywhere from $100-$500. If you have any doubts about the money in your account you can always call eBay, (Or more recently have them call you), to verify the funds are there. Most people expecting a freight shipment do not expect it the next day and know that it will take some time to put on a pallet to ship.įor our smaller items we still offer a 1-3 day handling time. Now we need to note that most of our large profit items are set to 3-5 days handling time already. It would be disastrous if we shipped a $15K item out only to find out the buyer cancelled the transaction and the money was not transferred to our account! We’ve had to make sure all our freight listings are set for 3-5 days handling time in order to make sure the money has been transferred to our account. You can bet we are not excited about or even willing to ship something that expensive out without knowing we have the money transferred to our account. Often our eBay sales are large, expensive items anywhere from $1,000 to $15,000. We will not be shipping our items out to anyone without having the money in our account. Not having access to our funds immediately slows our shipping time. Not ideal and this new way of doing business causes two concerning new problems in our business. But the payments we receive are for sales we made 3-5 business days before we get the money in our bank account. We have our managed payments set up to pay out to our bank account daily. Unfortunately, and not without complaints, eBay Managed Payments has a 3-5 business day lag before our payments are deposited in our bank account. This allowed us to use the money to pay for our freight shipping costs and any shipping supplies needed to get our sold items to their new owners. Using Paypal, we had immediate access to those payments right away. This was great for our business, as most of the items that we sell are large, high dollar items that require freight shipping.įreight shipping our items cost in the upwards of $100-$300 to ship. Not only did it show up, I could pull it out of Paypal as soon as it landed in our account. One of the great benefits using Paypal was the ability to access our funds immediately.Īs an established seller, as soon as someone purchased an item from me on eBay, the money showed up in Paypal. Cons of EBay Managed Payments No Immediate Payment Options So let’s unpack the pros and cons of eBay Managed Payments. Time will determine if we change our minds. With our limited experience with managed payments, we are giving it a thumbs up! This includes the positives and the negatives!Īs of August 15, we switched to the new system and so far after a total of five transactions with the new system, I’m surprised by its benefits. So let’s jump into the good, the bad, and he ugly of Managed Payments.ĮBay has assured its users that everyone will be switched over to this new system by the end of 2020, so there’s no time like the present to find out how eBay Managed Payments will affect you and your business. With that said, and as much as I hate to say it, I think the pros may outweigh the cons in the case of eBay Managed Payments. There are definitely things about eBay Managed Payments that I’m not thrilled out, but there sure are some great benefits to it that I’m surprised about! Like anything, there are pros and cons and things that will be challenging. We are now a few weeks into the new Managed Payments system.Īnd you know what? It’s not all bad.
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