Managed Payments

As a seller, if I go onto managed payments and I only sell 1 item for a £1 or so does this go straight to my elected account. Can I elect to get managed payments collectively for a higher amount or say once a week. I do not want lots of small payments onto my bank account.

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we were told you could choose daily or weekly, but as we haven't had it forced on us yet I can't confirm whether you can or not