To clarify, yes, I ended my auction early even though one person had already bid. Yes, I was assessed a FVF fee of $8.77. I felt that was a small price to pay. I didn't want to be out both my Coach bag and the $50+ dollars I wouldn't be able to extract out of ebay unless I gave them my SSN.
Ebay - managed payments
- Thread starter BeenBurned
- Start date
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Update: sold another, more expensive item, and noticed the fees are significantly more than with PayPal. Something about the final value fee being a percentage that includes sales tax?? Anyway it's getting late for me to figure this out tonight since eBay doesn't seem to have this itemized anywhere that's easy to find, but this throws off all the prices I had set for my items--very annoying and feels very deceptive.
Sales tax is charged to the buyer, collected & paid by Ebay, it won't affect you the Seller. I do feel the percentage is little higher on more expensive items than it use to be. Before MP Paypal collected a fee + the $.30 per item fee and Ebay collected whatever percentage you are charged for selling. Now Ebay collects all 3 of those fees at once. But I do agree, I think the % they collect on more expensive items is higher than it was before.
I just made a sale and the amount I paid ebay is actually a bit less than I'd have paid if the payment was through PP.
You do NOT pay ebay fee on the sales tax.
Here are the calculations:
Total price of my item plus shipping paid by buyer: $51.94
Managed payments fee paid to ebay: $6.71
Same item sold and if Paypal handled my payment:
Total price of my item plus shipping paid by buyer: $51.94
Ebay fee (would have been) $5.19
Paypal fee @2.9% + $.30 (would have been) $1.50 + $.30 = $1.80
Total ebay plus PP = $6.99
So through MP I paid $6.71 in fees and in PP, I would have paid $6.99.
I saved with MP!!
ETA: In this case, it doesn't look like my buyer paid sales tax but if she had, ebay's FVF wouldn't have included the tax. With PP, I would have paid almost 3% fee on the tax too.
I think where I have noticed a difference is in items over $100. Is it possible that on items sold over $100 the percentage is higher than 10%?
I did the calculation on 2 items over $100 total.
Item 1: Total payment (no sales tax) = $109.94
Ebay MP fee: $13.88
Ebay plus Paypal fee: (would have been) $14.48
Item 2: Total payment (including $8.71 sales tax) = $119.65
Ebay MP fee: $15.08
Ebay plus Paypal fee: (would have been) $14.86
On item 2, I see that the difference is slightly more that I paid to ebay but so far, the small savings through MP are more than the extra I would have paid to PP.
YMMV.
The Fee Schedule is something I could never mathematically figure out. But the Managed Payment issue is not so bad. You DO have to give them your Social Sec. #. And I did open up a secondary checking account strictly for eBay. It's much easier to comprehend what you're getting...and what you're not getting. So far, there have been no problems but I'm not a high volume seller.
Regarding PayPal...eBay is done with them. Once you're in MP you can no longer use PayPal for eBay sales. Am not sure how they will work with purchases. I will say PayPal's fee schedule (4+% of total sale) is rather high. At least with eBay all the dollar amounts are broken down in your Seller Hub.
eBay's base percentage for almost all items has gone from 10% to 12.35% across the board.
Basically, it's "change." And change is never easy.
Regarding PayPal...eBay is done with them. Once you're in MP you can no longer use PayPal for eBay sales. Am not sure how they will work with purchases. I will say PayPal's fee schedule (4+% of total sale) is rather high. At least with eBay all the dollar amounts are broken down in your Seller Hub.
eBay's base percentage for almost all items has gone from 10% to 12.35% across the board.
Basically, it's "change." And change is never easy.
Goodbye to eBay from me. I’m not gonna provide my SSN to a company in Holland.
I had the option of entering my bank account info manually and did not log into my bank account via the ebay sign up link.
I sold something for the first time under the new managed payments on Thursday night and received an email this morning that the funds have been paid out to my bank account. It was pretty painless and so far no problem (except that you have to wait a week after a sale before the funds actually hit your bank account!).
When I first started managed pay it took about a week to get my funds and as time went by, I started getting my funds faster. Now I get them transferred to my bank account about 2 days after the sale.
My payout hits my bank account the day after I get the notice.
Although the email says, "it will take 3-4 business days to reach your bank account," it's next day!