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Just got the email from eBay regarding cash-to-bank payments now instead of Paypal and noticed final value fees have increased from 10% to 12.8% somewhere along the line (10% was implemented years ago by eBay to make calculating the fees easier :lol:)

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There are no more PayPal payment processing fees.
Your eBay selling fees and expenses will be automatically deducted from your earnings before you get paid.
We will charge you an updated final value fee when your item is sold and you won't have to worry about the costs associated with third party payment processing.
The final value fee is 12.8% of the total sales amount, plus a fixed fee of £0.30 per order.

 

https://www.ebay.co.uk/help/selling/fees-credits-invoices/fees-private-sellers?id=4822

 

 

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24 minutes ago, TWINSET said:

Just got the email from eBay regarding cash-to-bank payments now instead of Paypal and noticed final value fees have increased from 10% to 12.8% somewhere along the line (10% was implemented years ago by eBay to make calculating the fees easier :lol:)

True, but PayPal charge 3% + 30p (I think, ish) so this approach would still seemingly be cheaper? 

I haven't had the hook yet, still clinging on to olde world PayPal bliss :lol:

I wonder if they'll still do the Max £1 selling fees promo in the new world, because based on this they will be losing the difference between £1 and 12.8%, not £1 and 10%

Saying that, I haven't had one of them offers for months either :(

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:blink: Forgot PP's 3% - how cool of eBay to do it for only 2.8% :lol:
I got the mail today  -  clicked on the link to see what it's all about but never added bank details etc. but, within 2 mins I had an email confirming I'd switched to bank-only payment and need to add my details in order to get paid.
 

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Congratulations! Since you updated your account details, eBay is now managing payments for your account.
This means:

 

·     You get paid directly to your bank account, not your PayPal account. If you haven’t already done so, please add a bank account so you can get paid. You can add your bank account from the Selling Overview in My eBay or from the Payments tab in Seller Hub.

·     No more PayPal payment processing fees. No more separate monthly fee payments. You will pay an updated final value fee¹, consisting of a category-based percentage of the total amount of the sale, plus a fixed fee per order.² Most sellers will pay the same or less than before.³

·     We will initiate payouts within two working days of payment confirmation. You may choose to receive available funds to your bank account weekly or daily, as funds are available.

 

 
 
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This new approach does work out a lot better when they have their offer of £1 final value fees that @Juhunio referred to. In that situation, that is all that you will pay other than if they have to do a currency conversion. The thing I find annoying now is that I can't pay for the postage from the payment taken which means I end up with loads of Royal Mail bank transactions. 

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1 hour ago, mman2005 said:

 The thing I find annoying now is that I can't pay for the postage from the payment taken which means I end up with loads of Royal Mail bank transactions. 

I hadn't thought of that, that's really annoying :angry:. Managing postage payments out of the PayPal 'float' was dead easy and also helped keep track of true upsides (or losses, occasionally!) 

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I've been using this system now for a couple of months . I still get the £1 max offers so I use that . The postage comes out of your own pocket until you get the customers money processed ( times vary - roughly 4 days  ) . It does work out better if you can float the postage and try to use £1 max

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Agreed. It is slightly better, but a whole lot better when the £1 deal is on. Its a Bank Holiday weekend in the UK this weekend so I'm expecting a deal to come through on Friday. Got 12 cars to sell, so it better !!! 

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Instead of the £1 max fees promo, this time I've had an "80% off variable eBay selling fees" offer, only valid after switching to the new payments. If my calculations are right, this works out slightly better:

For a £100 item (excluding postage, or with free postage):

PayPal & £1 promo
after PayPal fees (2.9% + 30p) £96.80
after eBay fees (£1) £95.80

eBay Payments and 80% promo
standard 12.8% + 30p = £13.10
80% of 12.8%, + 30p = £97.38

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With the £1 promo under eBay payments , I you would pay £1 straight off the payment , so £100 =£99 to you . The 80% off FVF +30p fee  is only applicable to eBay managed payments , not Paypal payments

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I don't know about the rest of you, but I really like PayPal. It separates payments from your bank. I use it all the time. I have uber (definitely not like the old days) on it and loads of stuff. It's annoying that ebay now give me my money and I then move it back into PayPal. 

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Based on the Ts &Cs stated in the ‘80% off variable fees’ offer, eBay state that this breaks back to a 2.56% fee, plus the 30p fixed fee, so overall I guess this is going to work out better, in theory, than the good old (and simpler) £1 fee offer, given that PayPal were always taking their slice of the action, at, I believe, 3.4% + 20p. One thing that is going to change I suspect is that as a seller, using PayPal meant the buyers payment arriving immediately, whereas with eBay managed payments, I believe the money arrives in your account several days later. I’ve changed all my listings to say that the item will be sent on receipt of cleared funds.

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3 hours ago, futureworks said:

One thing that is going to change I suspect is that as a seller, using PayPal meant the buyers payment arriving immediately, whereas with eBay managed payments, I believe the money arrives in your account several days later. I’ve changed all my listings to say that the item will be sent on receipt of cleared funds.

For you as the seller, the payment clears immediately, so you can safely send the item out as soon as eBay say you've been paid. The catch is that eBay take time to "process it" (if you Google there's plenty of discussion as to why it's not instant like PayPal) so there is that delay yes, but it's unfair to the buyer to make them wait, it's just something you have to account for as a seller.

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40 minutes ago, Truck Norris said:

The catch is that eBay take time to "process it" (if you Google there's plenty of discussion as to why it's not instant like PayPal) so there is that delay yes, but it's unfair to the buyer to make them wait, it's just something you have to account for as a seller.

Ah, good to know. Thanks @Truck Norris 

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Whichever way it is , there is no escape if you want to sell on eBay . I've been using it for a while now and it works , but you have to float the postage for a few days . Bank Holidays delay the clearing process further though  :(

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