Could someone simplify what will happen to Paypal payments please

[timeforabrew]

Hello, I'm not a business.  I buy and sell here and there.  I prefer Paypal and when I sell I use Buy it Now.  My average balance in my Paypal account is around the £100 mark.  Now when I have to change to this new payment method with everything going through Ebay not Paypal, if someone pays me by Paypal I presume it will no longer go into my Paypal account and I'll have to physicially move it myself from my bank account so I have enough in there for when I purchase something?  Am I right?  Sorry to sound stupid, in my 60s and the videos I havge watched don't seem to mention what happens when people pay you by Paypal. Thank you

[plum993 · Accepted solution]

You will still be able to pay by paypal and if you dont have enough money as a balance in your paypal account you can either transfer money from your bank, or paypal will use your preffered method to pay for item on ebay (like your bank account or credit card) just like they do now.

Its alaso worth mentioning its not wise to hold to much money in your paypal account before transfering to your bank account  in case of paypal account holds on your paypal account.

As for selling and taking paypal payments, that will continue as normal until everyone has been moved over to the new managed payments,then buyer payments will go through ebay not paypal,and be sent to your bank account within 4 days of payment initiation .You will not pay paypal fees anymore under managed payments,only ebay fees!

(Ebay will basically have there own paypal account)

[timeforabrew · Accepted solution]

Thank you, I think once eBay stop using PayPal altogether I shall stop using eBay 😢

[plum993 · Accepted solution]

There is talk it could be around 2023 when they stop paypal payments.

[redwick1]

We have no choice but to use ebay managed payments.

Ebay will take  payment off the buyers and take all fees off and then put the remainder in your bank account.

There are more options now for the buyer to pay but paypal is one of them but it will go to ebay and not to your paypal account

Paypal is entirely seperate so if you want to buy anything you can still buy pay by paypal .

If you like the money to go from your paypal account rather than your bank account then you would have to put the money into paypal 

If you dont have money in paypal then it will go from the bank account you have on paypal