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eBay payments sign up deadline today
Today is the 15th of July and marks the eBay payments sign up deadline for many UK business sellers. If this applies to you, you will have received multiple reminders from eBay with the most recent suggesting that if you don’t sign up by today then before the end of the month you could lose the ability to launch new listings on eBay and your existing listing may not renew.
(Some may have received a deadline of the 20th of July and others may not have yet been invited as payments aren’t deemed ready for their account yet, e.g. Charity Sellers.)
Going through the eBay payments sign up isn’t sufficient if you want to receive your money from eBay sales – you’ll then need to link you bank account with eBay and we’ve heard from a few sellers that this can be troublesome. Most of those who reported issues (generally either your name on your bank account not matching eBay or the bank linking not recognising your banking user name and password) have through dogged perseverance managed to complete the process. Just in case you run into difficulties it makes sense to sign up sooner rather than later.
We are well aware that for many eBay payments will mean significant changes for your business – when you receive your money, how your fees are paid and indeed a change in the fee structure, the loss of micro payments and a change to how your accounting and reconciliation processes are performed. Indeed, we’re still unclear quite how the accounting will work and if a CSV showing gross sales and sales net of eBay fees will be available to download – crucial for those who need to complete VAT returns under Making VAT Digital.
We’re interested to hear your views if you’ve already signed up and are all set for eBay payments to go live or if you’ve decided to delay and still haven’t yet taken any notice of the eBay payments sign up deadline.
Drop a comment below or, if you prefer to be totally anonymous, email us to tell us about your eBay payments sign up experience.
Not a great process trying to sign up as a sole trader. Been trying for the last week and getting a little closer. Process is not great as when they reject something they don’t tell you what needs changing so you then have to try and speak to someone.
If your bank doc shows only your business name you need something on with your personal name as well from your bank.
Absolutely disgusted with eBay.
They make around £8K a month in fees from us. We sell low priced items in large volumes.
Charging a 30p flat fee is morally wrong. If I sold TVs for hundreds of £s I would still only pay 30p. But our average sale price is around £2.
They will literally make an extra £2K a month from us, when we only pay around £1K to PayPal.
Daylight robbery! And to not offer an opt out is frankly outrageous.
Despite pushing this to director level at eBay, they have told me it’s tough and this is the way they want to go.
So basically we now have to raise our prices to cover this £1K a month in fees, which will be paid by our customers.
The fact is that most of our customers are savvy and will find our products on Amazon, Etsy or our own website for cheaper and eBay will miss out.
Short-termism at it’s absolute worst!
I’m still in the process of trying to get the sign up process finalised. This has been going on for around 10 days and still not completed yet. I keep receiving these requests for “need this, need that etc”. I supply exactly what they ask for then days later I receive another request for “now need this and need that”. Emails and phone calls to that department unfortunately don’t seem to help.
With regards to all of this there is an old famous saying “If it’s not broken don’t try and fix it”. Every thing worked perfectly before, so why has Ebay introduced this ridiculous new scheme? All it does is make things more difficult. Ebay say they like to help their sellers but this is not the case with this Managed Payments nonsense.
As a relatively small seller I purchase all my Royal Mail Postage through Ebay. They then deduct that postage amount from my PayPal account. I asked them “if somebody pays for their purchase by another means and not by PayPal, where does Ebay now deduct that postage amount from?”. The person at Ebay Customer Support told me, “not sure, that has not been worked out yet”. A shambles.
I’m assuming you spoke to eBay via live chat for that information? Not surprised they didn’t know much about it.
Your payouts won’t be going into your PayPal account anymore, so forget about that. No matter how a customer pays, whether it be PayPal, Apple Pay, Google Pay or with their bank card/credit card, the funds will end up in your Managed Payments account. From there, eBay will initiate payouts to your assigned bank account.
Regarding paying for postage, its already been confirmed that you’ll be able to pay for postage using the ‘pending balance’ in your Managed Payments account. This was confirmed via a video eBay released. So, ultimately, no matter how the customer pays, you’ll be able to pay for postage via one ‘pot’ of funds. If no pending balance is available, it’ll take it from your card, I’d assume.
Hope that helps in some way 🙂
I am a long standing business seller and have received no offers or reminders to sign up.
Do I assume that I will be excluded from managed payments?
The process is as clear as mud to me.
Hi, I’m the same, had no message at all to sign up yet.
It sounds like a load of crap, EBAY HAVE TOTALLY MESSED UP, WE SHOULD GET A PETITION GOING.
have been full time on ebay for almost 8 years..havent had 1 message to sign up..dreading it tbh
Useless sign up process.
Been going round in circles for days now.
No idea what the problem is!! Sent my passport info at least 6 times and now bored with it!
Only had to it once with Amazon!
Same here, we’ve had no messages from eBay about this. We’ve been selling on eBay since 2007… So they’re either targeting newer sellers or, more than likely, targeting the big-money makers for them first.
@ LilEm. I have been selling on Ebay as a smallish seller (currently 48 listings) since 2011 and pay on average between £280 – £350 a month in Ebay fees, so not sure why I was targeted and made to sign up.
Two eBay long running business accounts here.
1 account signed up for Mangled Payments back in May(?)… heard nothing so far. 15th July today and they claim the payments is going live “late July”. Would be good to know the exact date so I can turned GSP off on all the items.
2 account not signed for payments. no remainders. I will wait and see if they offer “$150 invite” to UK sellers … 😉
Why turn off GSP?
It’s supposed to be supported. I know there are international payment fees under managed payments and I’m not impressed with the wrongheaded way ebay seem to make the seller pay for the process rather than the buyer, but is that enough to make your overseas sales unworthy?
Some items we sell have very little profit gains, so the extra charges during currency conversions just do not make it profitable to us… as we’d like to.
Alternative is to have 2 listings of same item, one for domestic sales with lower price (due to competition being terrible at math), and one listing for internationals with “standard price”. Too much work and idea flawed a little.
Our GSP sales is approx < 10% of total sales per month. Not huge so I won't cry much if we need to "turn it off".
that’s a shame.
I’ll probably need to remove a few extremely low profit listings from GSP too, but there are a lot that will still make a good profit even after ebay managed payments applies any extra fees for it being international, so I’m selectively doing it.
I think most UK sellers know of the ‘dreaded’ China / Hong Kong residing sellers who distribute their products through Fulfillment Companies in the UK.
I presume they may not have to sign up for UK Managed Payments as their bank is PayPal. I’m sure they don’t have UK bank accounts 🙁
Have been trying to sign up for weeks.
They still haven’t sorted out the verification issues for partnerships.
It appears to be simply getting the right number of digits on their form for the personal tax number.
Can it really be that hard? WTF !!!!
Also losing micro payments means we are a LOT worse off.
That’s if we can even complete their inept processes.
Am spending all spare time now on website and gearing up amazon.
Ebay CS sympathetic but helpless as this is all driven by .com
Rather than confirming they will sort the partnership registration issues out, they simply “hope” they won’t be losing sellers like us.
The managed payments fiasco continues. I booked a call back with eBay. I was told it would be 75 minutes. Over 6 hours later, after 9 at night I receive the call from custard support. They say I have to register a company number. I tell them I haven’t got one, we are sole traders as a partnership. They then say I have to register a company number. I tell them I haven’t got one. They say again I have to register a company number. I tell them I haven’t got one.
The phone goes dead.
Thats early, 11pm they phoned me back the other night after putting in a call request at 6pm with 2 hour wait.
Sign up… try and verify… having none of it. Sent copy of bank statement. Not good enough!
My ebay account is listed as my company name and address. However i am also there under my name (no middle inital).
My bank statement firstly states my full name including middle inital, which appears to cause an issue straight away…. which is strange as nowhere for middle name on my ebay account details!
The addresses match, well after i put a comma after Unit P…. Seems Unit P then industrial estate name is very different to Unit P COMMA industrial estate name….!
At the bottom of my bank statement it clearly states my name, T/A my company name…
Yet apparantly this still isn’t good enough.
Well ebay this is how the bank set it up for me. NO ONE ELSE HAS AN ISSUE, just ebay with their managed payments. I really fear for the next several months if this is my first impression. Considering they have been doinga trial run for so long, how have they not picked up these issues?
Typical ebay sham
I’m now waiting to hear if they have accepted my latest offerings, well i may have been, i don’t really know, you see I get different messages from them, some screens say all done, others that they will be intouch, and others…
Thank god we are leaving ebay by next spring…
Must newer accounts, as we’ve been on eBay since 2002
& we’ve only had one email early in the year regarding the new payment method.
Paypal have been calling us though, telling us we will worse off by signing up
Surely by forcing people to sign up & restricting listings would put eBay under investigation by the CMA
I’m confused, I only sent in a screenshot of my bank account statement and that was it.
No linking to my bank and logging in, no passport, i’d etc.
Maybe this is all to come.
But I have had an email saying I’m ready to go 27th July
Me too….exactly that process. Uploaded shot of bank account statement showing ltd co name was same on both bank account and registered ebay business account (although actual brand trading name on ebay is different)….and I too had communication saying my account will be activated for managed payments from 27/7 and I’ll get an email 48hrs ahead. What I AM dreading is accessing the online reporting and statements because if they are anything like Etsy’s similar payments process then your accountant cannot make head nor tale of them, nor get them to reconcile accurately with what lands in the bank. They aren’t good enough to satisfy a financial audit process in the UK. If ebay reporting is rubbish then it will be cheaper to walk away from ebay than pay my accountant more hours monthly to try to make sense of the financial reporting.
5 weeks now…. 5 weeks……!!! phone calls backwards & forwards…
We are a partnership, ive had to upload a text document 3 times now… everytime it says sorry, check your details… add business number… i explain again, we dont have one as a partnership….
no problem they say just upload your documents… which i have done… then it all starts over again… i keep getting called from the USA team who deal with it….
was told yesterday the team who have been dealing with it cant access documents…
dunno what to do anymore…
My current eBay account I have had for 8 years and I sell quite alot. I had the invitation some months ago and also found the linking stage a problem. But they allow you to upload a bank statement as an alternative – i did this and 2 days later was verified and all is well. It is worth not leaving it until last minute.
My merchant rate on PayPal was 1.3% and flat fee of 25p (i do more than £200k turnover a month). But will eBay payments I feel I will benefit that little more.
Especially from this bit:
Final value fee volume discounts
If your total sales volume (including postage) on ebay.co.uk (collectively, the “eBay Sites”), is at least £25,000 in the previous three months on a rolling basis, you may be eligible for a discount in the following month for listings on the UK site, provided your Seller Performance Level is at least Above Standard:
Sales volume (prior 3 months)
Discount on final value fees
£25,000 to £200,000 4%
Above £200,000 8%
So yes i do agree that the bigger revenue generators will benefit.
Yes, it will be slightly cheaper in some examples, therefore confirming my thinking that eBay is targeting big players and want to turn the platform into place to “buy it all” (aka Amazon) and slowly going away from private sellers trying to sell unwanted clothing etc.
let’s use “Printers, Scanners, & Supplies” category as an example.
old FVF: 5% (max £20 for shop subscribers)
new FVF: 6.9% + 30p for sales up to £400
let’s say you’ve sold a printer for £399
5% for eBay and 1.3% + 25p for PP
£300 – £19.95 – (£5.19+£0.25) = £274.61
10% off if top rated seller = £19.95 = £1.99
£274.61 + £1.99 = £276.6 is your money
6.9% + 30p for eBay and no PP
£300 – £27.53 – £0.30 = £272.17
10% off if top rated seller = £27.53 = £2.75
8% if sales > £200k = £27.53 = £2.20
£272.17 + £2.75 + £2.2 = £277.12 is your money
£274.61 (old) – £277.12 (new) = £2.51 better off
However, most eBay sellers do not have “£200k turnover/month” so they won’t qualify for the extra 8% off on FVFs nor the 1.3% at PP.
Correction: the final calculation is wrong.
£276.6 – £277.1 = £0.5 better off
More ebay mangled payments nonsense over night- “you must add your company number”.
WE DONT HAVE A COMPANY NUMBER, we are sole traders as a partnership. We have told you this ebay on some 20 occasions now. Nearly six weeks of messing about. What’s so hard to understand ? WE DONT HAVE A COMPANY NUMBER. We have emailed Rob Hattrell’s office but what a surprise- no reply.
Shameful ebay, especially at a time when the world has the Coronavirus crisis. Utterly shameful.
At this moment in time, having spoken with CS, MP is not compatible internationally, so if you’re someone who lists on other eBay sites (I have a US store for example), they do not have things sorted. I was told they are definitely working on it, but given how much time they’ve already had to get things sorted, it is very disheartening to find out they’re aggressively pushing MP without ironing out these problems. Thankfully for the moment, I am not being asked to join as I don’t know what would happen to someone in my case. Would they force a store to close, or prevent GTC listings from reappearing? It would seem a little crazy to impose this, but until they have the same seamless functionality that they had with Paypal, it seems for the moment MP is causing loss of functionality for those selling on country specific sites.
Only the brain dead could have come up with this!
We also sell a lot of low priced items around £2 SO WILL HAVE TO now increase all prices by 30p or maybe transfer our low prived items to Etsy and Amazon.
We were quite happy with paypal. It worked!