Managed Payments on the Bay?

I plan on selling on ebay in April or sometime soon. I heard you have to give personal bank account information thereby eliminating PayPal. Does it have to be a checking account or can it be a savings account? Would it be smart for me to get a new checking account with a new bank to give to them so that things don't get messy with my existing checking account or is it totally unnecessary? Has your experience with this Managed Payments plan been a pain, or has it gone on without a hitch? I've read about some problems and that's why I'm apprehensive about going on there to sell again. I sell mostly Medals and Tokens, so honestly, I'm totally confused with the below information, wth does it all mean?

Sellers enrolled in managed payments are not allowed to list the following items:

• Adult only items, including movies, video games, and photographs
• Auction services
• Bullion
• Coins & paper money (only Exonumia, and Publications & Supplies are allowed)
• Gift cards & coupons
• Lodging, timeshares, vacation packages, and car rentals
• Memberships for campground and RV parks
• Motor vehicles
• Wine

 

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Thats exactly why I only buy and not sell its a big mess that doesn't make any cents.

 

For now, coin dealers are exempted from Managed Payments until they get it straightened out. Eventually they are going to format Managed Payments to include all of those categories, but who knows when that will be.

 

I sell coins on eBay.
They haven't fussed with me -- yet.

 

I sold dozens of coins on eBay in the way back days. Not anymore. Too much red tape and private information.

 

Coins are now included in managed payments, this is my first week in the program, but so far, it is much slower than Paypal but a little bit cheaper.

 

I haven't been switched over to it yet but I plan on using a separate account from my regular checking account. I think it would be too hard to keep things straight with all the potential small deposits and withdrawals. Plus I like to keep my coin money separate. I'm hoping it doesn't have to be a checking account. From what I've read it seems like it shouldn't have to be. You should be aware though that with a savings account there might be a limit on the number of withdrawals or transfers you can make in a month. My bank keeps telling me the limit is six but that it's temporarily waived right now due to Covid.

 

Terrible way for them to do business. There's definitely a better way to eliminate PayPal and they wouldn't have left sellers without working businesses.

So if I was to go on ebay and start selling could I get in trouble, get put on a time out or something?

 

The last time I sold coins on eBay was several years ago. If I start selling again, will I have to enroll in managed payments?

 

I've never sold anything on eBay, but it almost sounds like you need two (2) accounts...one with managed payments and one without (for coins, etc.). Like most companies, eBay is trying to find new ways to monetize their service.

It doesn't make sense that they would force coin sellers to accept their Managed Payments service, then tell coin sellers they can no longer sell coins because it's forbidden under their Managed Payments service. That's just ignorant.

 

Just open a separate savings account at your current bank but do not link it to your regular checking or savings account. eBay and Paypal can now transfer funds to that new savings account and it's separate from your other money.

 

No, you'd simply get an error when you try to select Coins and Paper Money as your selling category.

 

Good to know!

 

I made the mistake of signing up for managed payments awhile back. I hadn't sold anything in the last few months and now I've found that I'm unable to sell coins or bullion. Ebay just gives me the stock notice of ineligible items, one of which are coins. I guess this is supposed to be resolved sometime soon. We will see. It looks like you are best to stall on signing up for the managed payment system.

 

How is that possible? I am on managed payments and the only thing I sell is coins. To my knowledge, coins are now included in the managed payment system.

 

Its my understanding that the payment processing company that ebay is using has some issues with certain types of listings and ebay is in the process of trying to get those issues resolved. I'm far from an expert on this. I've just been gleaning info from the ebay forum and others. I've tried to list some coins in the last few days and as I get the point of listing, the message comes up that this listing is not allowed. I read that many of the regular sellers have been allowed to start listing but that group certainly doesn't include me.

 

The only thing I can think of that would separate me from you is that I have an eBay store. So maybe the ability to sell in the coins category under managed payments is limited to eBay users who have a store subscription, but I promise you that if store sellers are allowed to sell coins, the ability for everyone else to sell coins under managed payments won't be far behind.

 

I agree. I read in another post that occasional coin sellers will be brought in by the first part of March. There's so much speculating going on. It's hard to sort out the information from disinformation.

 

Just now from eBay,

 

I have one draft of a listing to sell that I'll just have to keep trying until they give me the all clear. I buy way more than I sell on ebay. Sometimes I think i should be listed as a preferred buyer. ha ha
Thanks for posting the update.