Yep, the payment system has had a very big change. Your registration with Managed Payments has to be completed so your funds will be kept on hold until that necessary documentation eBay require, is produced and verified.
When all is in order, you need to manually withdraw payouts now from an ' eBay Balance' which can be done daily if required, left in the Balance to buy postage or eBay items, or to accumulate to withdraw when you wish, if left, eBay will send the payout 3 times a year, if that is your preference.
@1966dhunter