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All new and existing sellers will need to register for eBay to manage their payments in 2021. Please scroll to the bottom of the page to learn how you can pre-register for Managed Payments and unlock a better selling experience on eBay.
When a buyer pays for a product, the funds will first be deposited into your eBay Managed Payments (MP) account. Once the fees have been deducted, the net amount will then be credited to your Payoneer account in US Dollars within 2 business days (you’ll be able to choose the frequency of this transfer : weekly / daily).
If you’re wondering how you can register for Managing Payments and elevate your eBay selling experience to the next level
In May 2021, you’ll receive an email from eBay to enable eBay MP (invitation to enroll for eBay Managed Payment). You’ll have to register for eBay MP and submit documents for verification with Payoneer.
Before registering for eBay MP, you’ll have to check the information in all your eBay accounts and ensure that the information is correct and matches your identification documents. Please also ensure that all of the information in your accounts are the same as the information from your Payoneer account – especially the account type. Check to see if your eBay account is an Individual Account, or a Business Account. The account type of your eBay ID must match with Payoneer.
If your eBay account type is ‘Individual’ your Payoneer account must also be ‘Individual’.
If your eBay account type is ‘Business’ your Payoneer account must also be ‘Business’
For Business Accounts, corporate documents are required to verify account ownership when signing up for the new eBay MP payment system. Sellers with ‘Business’ account type are advised to prepare corporate documents such as business/commercial registration beforehand.
My eBay > Account Settings > Personal Information.
Ensure all your contact information is up-to-date and matches your identification documents. Especially the following items:
This is because when you’re registering for the new eBay MP, you will need to submit documents to verify your identity and address (e.g utility bills, company certificate, ID card of company director or other managers with their name, address, person / name, address of the company on it.)
You can check and edit your information by going to My eBay > Account Settings > Personal Information
Check that your eBay account has a credit card or VISA debit card on file. When you apply for eBay MP, you should be ready to link a credit card or VISA debit card that matches the card linked with your eBay account.
Use the same information you used on your eBay account in all aspects, for example: name, surname, address, company name, account type (Individual or Business), bank account, credit/debit card
Note:
1. Both individual and registered businesses on eBay can only be linked to one Payoneer account, however one Payoneer account can be linked to multiple eBay IDs.
2. They can be connected as long as account holder and account type matches. If you have 5 eBay IDs and all are ‘Individual’ account type, you are able to link all 5 to a single Payoneer Individual account.
As an individual eBay Seller and using an “Individual” eBayID account. Seller will need to sign up for an individual Payoneer account – and link it to their bank account in order to easily withdraw funds.
As an eBay Business Seller using a “Business” eBay ID account. Seller will need to open a Business Payoneer account and link it to their company’s bank account to easily withdraw funds.
You’re required to prepare the documents below before you create a Payoneer account.
National ID
Passport
Driver’s License
Scanned copy of utility bill (acceptable gas, water, electricity, landline, internet or cable tv bills), not older than three months. The invoice must include your name and the exact same address as it appeared at the time of registration.
Scanned copy of scanned bank statement, no more than three months old, containing your name and address that is exactly the same as that shown at the time of registration.
Scanned copy of the complete rental agreement containing your name and exact address as it appeared at the time of registration, along with a utility bill not older than three months in your homeowner’s name.
You’re required to prepare the documents below before you create a Payoneer account.
We’ll help you manage your payments, so you can focus on growing your business.
Access customised reports, consolidated fees, refunds and returns, labels, simplified protections and tax documentation.
Access customised reports, consolidated fees, refunds and returns, labels, simplified protections and tax documentation.
Choose to schedule your payouts either daily, weekly, or the moment funds are available.
Give your buyers more payment options. Accept* credit, debit, gift cards, Apple Pay, Google Pay, PayPal, and PayPal Credit. *Listings made on ebay.com.sg, ebay.com.my, and ebay.ph will not be provided with these payment options
Which is why in 2021, all sellers will need to register for eBay to manage their payments. When you receive a notification from us, we encourage you to register as soon as you can to avoid any business interruption.
