How do you get paid from eBay? (All Methods)
LAST UPDATED: March 19, 2023 | By Conrad Golly
Getting paid from eBay can be a daunting prospect, especially if you’re new to the platform.
Are you wondering how do you get paid from eBay?
Knowing how to accept payments quickly and securely is essential if you want to make sure your customers are satisfied and that your profits stay safe.
And if you’re looking to get your slice of the pie, knowing how to properly manage payments is key.
How Do I Get Paid on eBay?
The following payment methods can be used on eBay:
- Bank Account: Once your bank account and eBay Seller profile are connected, you can securely transfer the money from your sales on eBay into a checking or savings account.
- PayPal: By linking your PayPal account to eBay, you can take advantage of the convenience and security of receiving payments through PayPal; however, please keep in mind that fees may apply.
- eBay Managed Payments System: This revolutionary platform not only processes payments but also deposits them directly into your account. Additionally, there are eBay Managed Payments fees associated with this service.
- Credit or Debit Cards: Take advantage of these cards to shop on eBay for your much-needed items.
Related: Best things to sell on eBay
eBay’s Managed Payment System
eBay has recently released an awesome eBay payment methods in 2021, allowing vendors to collect their payments through the site instead of relying on PayPal.
It’s like a superhero making transactions extremely easy and efficient for buyers and sellers alike.
Furthermore, this new system empowers merchants with even more payment options such as Apple Pay, Google Pay, or PayPal credit. eBay takes care of every transaction process so that it is super simple to manage money matters!
But how does eBay’s Managed Payment system work? It couldn’t be simpler! All you need to do is link a checking account when you create an eBay seller account.
After subtracting the processing fee and commission, the customer’s payment will then be sent directly to you.
The money may take some days to show up in your bank, however, usually, this process requires two business days or less.
How Does eBay’s Managed Payments System Work?
eBay’s Payments system uses its online payment services that allows sellers to receive payments through eBay directly, rather than through PayPal.
The system was introduced to provide buyers and sellers with a more streamlined and efficient payment experience.
Here is how the Managed Payments system works:
- A seller connects a checking account to their account when creating an account or updating their account information.
- When a buyer makes a purchase, the payment is handled by eBay’s Managed Payment system. The system collects the payment from the buyer, and then sends the remaining funds to the seller after subtracting a payment processing fee and a commission.
- The seller can view and manage their payments, including transaction details and payment history, through their account.
- The process of transferring funds from the Managed Payment processor to the seller’s checking account may take several days, but generally, payouts are completed within two business days.
- The Managed Payment system also allows sellers to accept a wider range of payment options, including PayPal credit, Apple Pay, and Google Pay, and also handle all transactions and payment processing, making it easier for sellers to manage their finances.
It’s worth noting that not all sellers are eligible for eBay’s Managed Payments system and it may not be available in all countries yet.
Sellers may still opt to use PayPal as a payment option for their buyers.
Connecting Your Bank Account
Connecting your bank account to eBay’s new payment system is simple.
All you need to do is log in to your account, click the “Manage Payment Settings” link on the left-hand menu and then enter your banking information.
Having a linked checking account can be very helpful especially if you treat selling on eBay as a business.
Once complete, you’re all set and ready to start accepting a buyer’s payment!
The process is secure and encrypted, with all information stored safely within eBay’s systems.
This ensures that only you have access to it while providing buyers with a safe and secure way of making their payments.
Plus, you’ll never have to worry about unauthorized transactions or fraud since the funds will go directly into your designated bank account.
PayPal vs Credit/Debit Cards
One of the first decisions sellers will have to make when accepting payments is whether they want customers to pay directly using their credit/debit cards or via PayPal.
PayPal offers direct integration with existing accounts making checkout fast and convenient. So using a Mastercard debit card or other non PayPal online payment methods is now possible.
It does come with additional fees that could eat into your profits.
On the other hand, taking credit/debit cards allows buyers to bypass signing up for a service but requires more setup before payments can be received.
Each seller will have to decide which method makes sense depending on their individual preferences and needs.
Receive & Manage Payments
Once everything is set up correctly buyers should now be able to purchase items seamlessly during checkout without any problems, great!
For PayPal transactions, money should arrive in as little as one business day while card payments may take 3-5 business days or longer depending on various factors such as bank holidays or weekends, etc.
Make sure customers know what kind of transaction timeframes they can expect so there are no unpleasant surprises later down the line.
There is also a payout schedule you can create where you can choose weekly, biweekly or monthly payouts.
How To Track Payments From eBay
Tracking payments from eBay is simple, and you can do it through your eBay account.
Here are the steps:
- Log in to your eBay account.
- Click on the “My eBay” button located at the top of the page.
- From the drop-down menu, select “Selling” and then “Sold.” This will take you to a page that shows all of your sold items.
- You can filter the results by date, payment status, and other criteria by using the options on the left side of the page.
- Each item will have a status next to it, such as “Paid,” “Awaiting Payment,” or “Cancelled.” This will give you an overview of the payment status for each item.
- To view more details about a specific payment, click on the item. This will take you to a page with information about the transaction, including the date of payment, the payment method used, and the amount of the payment.
- If you are using eBay’s Managed Payments system, you can see the payment history and transaction details in the Payment section of your account.
You can also download a report of your sales and payments on the “Financials” tab of your account.
This will show you all of your payments in one place, including the payment method, date, and amount of each payment.
How to Get Paid on eBay Without PayPal Accounts
eBay’s Managed Payments system is an alternative way for sellers to receive payments without using PayPal. Here’s how it works:
- Sign up for eBay’s Managed Payments: To get started, you’ll need to sign up for eBay’s Managed Payments system. This service is currently being rolled out, so not all sellers are eligible yet. You can check your account settings to see if it’s available for you.
- Connect a checking account: Once you’re signed up for Managed Payments, you’ll need to connect a checking account to your eBay account. This will be the account where your payments will be sent.
- List your items: You can list your items for sale as usual. When a buyer makes a purchase, the payment will be processed through eBay’s Managed Payments system.
- Payment processing: eBay will collect the payment from the buyer and then send the remaining funds to the seller after subtracting a payment processing fee and a commission.
- Check payment status: You can track your payments and check the status of your transactions through your eBay account.
- Withdrawing funds: You can withdraw funds from your Managed Payments account balance to your linked bank account, Withdrawals are generally processed within 2-3 business days.
It’s worth noting that Managed Payments system may not be available in all countries yet, and the process of transferring funds from the Managed Payments system to the seller’s checking account may take several days.
Payment Protection & Security
When it comes to buying and selling on eBay, security is a top priority.
eBay understands that dealing with sensitive financial information can be nerve-wracking, which is why they’ve put in place some serious fraud-fighting measures to keep everyone’s transactions safe and sound.
Plus, if you’re receiving payments through PayPal, you’ll have even more protection against any funny business with access to buyer dispute resolution tools built right into the platform.
These tools can help resolve issues related to unpaid goods or services quickly, so you can keep on keeping on with your buying and selling.
With eBay’s Payment Protection & Security measures in place, you can rest easy knowing that your transactions are in good hands.
How can I change what payment options are available to buyers?
As a seller on eBay, you can choose which payment options you want to make available to buyers. Here’s how you can do it:
- Log in to your eBay account.
- Click on the “My eBay” button located at the top of the page.
- From the drop-down menu, select “Selling” and then “Listings.” This will take you to a page that shows all of your active listings.
- Find the listing that you want to update, and click on the “Revise” button.
- Scroll down to the “Payment” section of the listing form. Here, you will see a list of payment options available to buyers. You can toggle on or off the options that you want to make available for this listing.
- Once you’ve made your selections, click on the “Save and Continue” button.
- Review your listing and make sure all the information is correct, then click on the “Submit” button.
It’s worth noting that depending on the category of your listing, some options may be mandatory or may not be available.
Also, if you’re using eBay’s Managed Payments system, the options available to buyers may be different than if you’re using PayPal.
FAQs
How Long Does A Buyer Have To Pay On EBay?
On eBay, a buyer typically has 4 days to pay for an item they have won or purchased through the Buy It Now features. This is known as the “payment deadline” and is set by the seller at the time of listing the item.
How Long Does EBay Take To Transfer Money To Your Bank Account?
The time it takes for money to be transferred from eBay to a seller’s bank account can vary depending on several factors, such as the payment method used and the seller’s location.
When using eBay’s Managed Payments system, payouts are generally completed within two business days. However, it may take several days for the money to be transferred into the seller’s bank account, depending on the bank’s processing time.
If a seller uses PayPal as a payment method, the transfer time may also vary. PayPal typically processes payments within 24 hours, but it may take longer for the funds to be available in the seller’s bank account, depending on the bank’s processing time.
It’s worth noting that the transfer time may also depend on the seller’s location, as different countries and regions have different banking regulations. So, it’s always best to check with your bank for information on their processing time.
Can You Sell On EBay Without A PayPal Account?
Yes, you can sell on eBay without a PayPal account. eBay has a Managed Payments system that allows sellers to receive payments through eBay directly, rather than through PayPal. By using this system, vendors can securely connect their checking account to their eBay account, and payments will be sent directly after eBay deducts the payment processing fee and commission. Nevertheless, PayPal continues to be a practical option for buyers as well as sellers if they have an existing PayPal account.
How Long Does An EBay Seller Have To Ship?
As an eBay seller, you are required to ship the item within the handling time specified in the listing. Handling time is the number of days it takes for the seller to ship an item after receiving cleared payment from the buyer. When creating a listing, the seller needs to set the handling time as this field must be filled. It’s important to keep in mind that handling time begins from the day after payment is approved – so if your customer makes their purchase on Friday, you won’t start counting until Monday.
The most extended handling period is thirty days, however, the majority of retailers prefer to ship their products quicker in up to three business days. You must send out your items on schedule and within the allotted timeline listed on their website listing. Connecting with your customer and resolving any issues quickly is also necessary for a successful transaction. Thus, make sure you promptly answer buyer queries regarding shipment details when applicable!
Can You Use PayPal Working Capital With EBay Managed Payments?
Although PayPal Working Capital cannot be directly integrated with eBay Managed Payments yet, you can still access its benefits if you are eligible and have kept your listings’ payment method as PayPal. If so, then all of the payments that reach you via eBay will also go through PayPal Working Capital to make sure they don’t fall behind.
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