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New eBay Managed Payments - They cut PayPal out!


tbone3969

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Chase has you meet a minimum of $300 balance at all times in checking or you get hit with fees.  I don't remember the fee, but it's still dumb they do it.  It's partly why I didn't use them when I setup an account, the other, like you I use them, and I didn't want anything associated to that and ebay in any way.  My choice has no charges, no minimum, and no bs.  You could pay a fee, and then if you can maintain over X amount they'll pay interest on it like a traditional savings account from like 20 years ago when it actually gave you something and not like 1cent per 1000 dollars.

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2 hours ago, MrWunderful said:

Chase, because all my other accounts are with them. Its costs me 4$ a month for just basic checking because I didnt want to keep 5000$ in it or whatever the stipulations were for it to be “free”

You either keep $1500 in your checking account or $5000 in total in any other investments with them. 

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58 minutes ago, MrWunderful said:

Are you sure? I have more than 5k in a few accounts, and still have to pay 4$ a month

Yes I am sure. It says it right on my statement in bold print. My advice to you is to make an appointment to talk to an advisor at the bank and find out about that account plan. You shouldn't be paying a monthly fee. Tell the advisor you have over $5K in multiple accounts and ask why are you being charged a fee? $5k is plenty to get a fee waived.

Edited by Bonanza125
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13 hours ago, Bonanza125 said:

Yes I am sure. It says it right on my statement in bold print. My advice to you is to make an appointment to talk to an advisor at the bank and find out about that account plan. You shouldn't be paying a monthly fee. Tell the advisor you have over $5K in multiple accounts and ask why are you being charged a fee? $5k is plenty to get a fee waived.

It’s almost easier for me just to pay $48 a year for it 😂😂

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Bank5 use to be a good online only bank.  I'm not sure if that's the case any more.  For a checking account, it had a pretty good interest rate.  Almost as high as my Money Market account with my credit union.  I haven't used them in years.  Maybe I should go back to my old account, deposit funds and use it for eBay.  Honestly, I'd not thought about that.  The main issue/pain point for me is I don't want to have to maintain a balance of, say, $1,000 to cover unexpected returns and stuff.  I'd want to funnel that cash over to Paypal ASAP.

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  • 2 months later...

How is everyone getting accepted into Managed Payments?

I follow these steps and fill out the form but nothing happens afterwards. I gave up a year ago and will wait end of 2021. It seems like many sellers have Managed Payments because when I view a listing and see payment options including Google Pay, I know the seller has M.P.

 

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Administrator · Posted
22 minutes ago, AnimalHouse said:

How is everyone getting accepted into Managed Payments?

I follow these steps and fill out the form but nothing happens afterwards. I gave up a year ago and will wait end of 2021. It seems like many sellers have Managed Payments because when I view a listing and see payment options including Google Pay, I know the seller has M.P.

 

Do you have a checking account on file with ebay?   You'll need to.

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Yeah it's now required, before they said it was but it never was actually enforced on older accounts.  Up until they pulled this the only other form of payment outside of Paypal I had was a credit card I let expire out 5 years earlier because I don't trust ebay due to their anti-seller antics.

When my hand was forced I signed up with Aspiration for one of their online/(free) atm access accounts and tied that.  Since they're still scum, once I have more than a couple hundred or whatever needed to cover whatever sold online I remove it back into my paypal account which they're blocked from now.  I figure seeing as it's a qualified bank with a good rep of taking care of both the customers(but also the environment, your value in account I guess plants trees) I figure if ebay tried to burn me I'd report it as a fraudulent charge and get it reversed.  I know ebay would ban me, but screw them. 🙂

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On 11/20/2020 at 12:04 PM, tbone3969 said:

Anyone have any experience with eBay's new form of accepting payments?  I hear it takes a little longer to get your money into your bank account.  I am fine with this IF the fees are reduced.  It seems they should be as one wouldn't have to fork over any money to PayPal (about 3.5% from what I have calculated). 

Thoughts?

 It’s fine tbh. Plus they take fees straight from your balance before the payout so i don’t need to pay ebays fees after the fact.

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