Your payments are changing by 31 May 2021, are you ready?*

[compman2000]

Good morning all.

Do we know why eBay is doing this?

What is the motivation and are there any benefits in it for we the sellers?

Thanks guys

[tressygirl · Accepted solution]

eBay are divorcing Paypal as a payment receiver from sellers sales.  Adyen is stepping in as their money processor.

Benefits for a Private seller like yourself?  Well there's a whole 0.1% less in fees to pay.  Before you were paying 10% to eBay and 2.9% plus 30p per transaction to Paypal.  Now,  no Paypal,  a total of 12.8% plus 30p to eBay.

Downside?  There is a wait for your payouts.  eBay take 1 - 2 business working days to take their fees first,  then send the remainder to your bank.  Your bank then takes 1 - 4  business working days to process those funds.

You can select a daily or weekly payout for your monies to be paid to your nominated bank account.

[compman2000 · Accepted solution]

Thank you for the clarification.

So in effect this means that for the benefit of paying 0.1% less than what we are currently paying, we now enjoy the priviledge of waiting for up to five working days to receive the proceeds from the sale of our goods?

Do we know if this is mandatory or optional?

And if one decides not to, do we know what happens then?

I am sorry. I know its a lot of questions.

Organisations make these decisions that put us at a disadvated position from the previous and they don't even bother to consult us.

Anyone know what the alternatives are and if we have any choice?

Cheers

[tressygirl · Accepted solution]

You're welcome, here's a little more reading matter for you too. This expalin's it all fully.  

https://sellercentre.ebay.co.uk/selling/managed-payments