Change at eBay as they ditch PayPal

[vexillia]

Like many others here I use eBay to shift a few odds & sods. Yesterday I was surprised by an invitation to register for eBay's new payment scheme known as "Managed Payments" and I wondered if anyone has already signed up and has experience using it.

From what I can gather when someone buys from you, the buyer now pays eBay (by PayPal, card etc). Then eBay take their cut and send you the balance. The bad news is that they only process payments Mon-Fri and payments are the slow kind that take up to 4 working days. Finally, you still have to post within 48 hrs of eBay receiving the payment i.e. before the money gets to you.

Oh, I nearly forgot eBay want your bank details as they won't transfer the money to your PayPal account. PayPal split from eBay years ago and this appears to be the final step in their divorce.

Ebay say this will save you money. The new eBay fees are 12.8% vs 10% plus PayPal fees of 3.4%. Both have a fixed transaction fee just like PayPal. It's a small saving of less than 1% and for that eBay has direct access to your bank account.

I have also read that if someone buys three items from you then are three transaction charges not one like at present but I'm not 100% certain about this. As with any major change there are lots of other hassles that are annoying experienced eBay business sellers.

A little research has confirmed that "Managed Payments" will become mandatory for private sellers in UK during 2021. When this happens this will be the end of my eBay account. As insurance I've already opened a Gumtree account (also owned by eBay), which doesn't have any listing or selling fees and I'll be interested to see how things get go there.

Finally, anyone here use ebid.net or similar?

[levied troop]

I doubt it will make a dent in their profits but that’s me finished with eBay.

[tim.w]

Hmm, me too. I've made about £700 in the last two months just through ebay in my big clear out. Did it just in time it seems. I've noticed a change in buying things as there's now no one click purchasing. There are so many dedicated facebook selling groups now I can see ebay loosing out.

[BaronVonWreckedoften]

About the only thing that could make eBay worse now is finding out that Rupert Murdoch owns it.

[Etranger]

No, just a bunch of faceless American corporate types. Now doesn't that reassure you that they have our best interests in mind?

[Paul]

I'll have to get things shifted as quick as possible because i'm not signing up to a new payment system. Goodbye Ebay, this might well kill you off!

[Shahbahraz]

I find less and less on eBay that I consider bargains, and I have never sold on eBay. But it does sound like an absolute rip off.

[FreddBloggs]

I use paypal online, because it is a simple one stop payment solution. So being forced to register for another one... nope.

[Paul]

I find less and less on eBay that I consider bargains, and I have never sold on eBay. But it does sound like an absolute rip off.

There's certainly a lot of overpriced tat on Ebay....not all of it mine!
I go through phases of selling but I always price things below what similar items have sold for as if I'm putting it on I don't want it to not sell.
The biggest ripoff Ebay did was when they started charging fees on postage whilst recommending people charge postage fees at cost with no allowance for fees or packing.

[tim.w]

To be fair people pay silly money for stuff. Recently I sold a limited ed. Britains Tractor unboxed for just short of £100, mny times nearly gave it to a nephew. Also sold some very old tat badly painted (by me) figures to an American for £172, again so very nearly threw them out/gave away. Expected to sell for about a tenner.

I really want to sell some Trophy Miniatures toy soldiers but after ebaying them many times theyve never sold and they genuinely are worth a lot.

On the whole ebay is just like amazon now, most stuff is new unless neiche markets like us weirdos.

A certain family member makes a fair bit of cash selling used footwear and tights etc to gentlemen with a keen interest in such things. Easy work if you're unphased by perculiar pecadillios of the more perverse among us.