Frustrated With NEW eBay Managed Payments?

Are you frustrated with the new eBay managed payments? Check out some of these Pros & Cons for the eBay managed payments system
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0:00 eBay Managed Payments
0:41 Cons of eBay Managed Payments
4:10 Pros of eBay Managed Payments
7:53 The Unknown Areas Still
10:20 Do We Like Managed Payments?
10:56 How To Get Started With eBay Managed Payments

We flip for a living so we're going to give you guys the pros and cons of the new ebay managed payments system and we've been using PayPal for me some 20+ years yeah so it says it's all brand new it's a big change in our transactions are a little bit larger than most people so we have a lot to be thankful or absolutely hate for this new system.

So this is going to be a good thing for you or is it going to be stinky?
The biggest con is that it takes time to get to your bank so in PayPal it was immediate payment as long as you're established.
Now 3- 5 days to get your payment for an item and if you're like us we had a PayPal debit card we can get to the funds immediately now we do larger items so with our sales we have to go out anywhere from two anywhere $100 to maybe $350 on shipping.

That's what it cost us to ship Freight sometimes so in the case of eBay's new system you might get that money 3 or 4 days after the sale to where you might be going out the money before to pay for the shipping before you even get your money.

So what you did was you just change your handling time to three to five days so which is not everybody can do this but when you're dealing with large amounts of money going out that high dollar amount to ship an item out it doesn't it's not going to affect you that much if you're doing daily transactions through the new management system

I did it a lot of our stuff anyways we had 3 days 3 to 5 days to where the transactions that we have taken through the new system have come in the morning of the fourth day at 12 a.m. so it's taking them three to four days actually put the money in your account.
They've been pretty consistent like I said the third day or the fourth day and it’s not too horrible expecting you to throw it on a pallet in a day and get it next day shipping so that's never really we've never done next to jumping on any of our always been at least three days so now we just make sure we have enough throw it on a pallet

A second con would be it's a little bit more difficult to keep your accounting straight so before if you use PayPal for your account like that's really all you needed if we sell mostly on eBay and so was just our Pay Pal and our debit card and we did our accounting pretty easily so now you might have to switch over to a separate business that's what we're going to do because we had a Paypal card to debit card we could use from that account we knew all the money coming in from your PayPal was eBay money so it was easy for our accounting now we're just going to have to open up a separate bank account a bank account so all the money from eBay comes in that bank account and then we can actually transferred over into our bank accounts so we just have a better record than easier system so is it not more difficult we just have to set it up that way I could be considered a con as a negative portion of this but in the long run that bad so so I don't have to pay money and that is awesome on eBay has saved us money on these transactions

A first Pro to ebay managed payments is less fees.
One of the first ones we've done on ebay managed payments was a range cooktop. On the the old system where the people pay PayPal the money into PayPal are we had to pay the 3% PayPal transaction fee on top of eBay 10% for that for that sale so we would have been paying 13% in fees on the old system On the new system we paid 11.5% and saved $40.

Right now we have a transaction for a bus washed this would be a $15,000 transaction and so we figured the numbers on that how much we will actually save going with the new system versus the old system $200 will save on that system so cuz before eBay used to cap large transactions at $350 but I know you still had the PayPal fee so we are curious how that was going to work if we're not there not capping it anymore so just tell you the numbers work for they are charging Ebay charging 11.5% for the first $2,500, and 2.35% just for the amount it's over the $500 so for the 1st percentage 11.5% for the $300 / that we pay the 2.335 Chron that money so it is it's a little confusing but if you sit down and do the math on it like that so that is a really the big difference is it takes a little bit longer to get your money but it seemed time you're actually going to save money on the long run so how much is okay it's not a bad thing on average before we were paying almost 13% on every transaction and now it's 11.5%