Today is the 15th of July and marks the eBay payments sign up deadline for many UK business sellers. If this applies to you, you will have received multiple reminders from eBay with the most recent suggesting that if you don’t sign up by today then before the end of the month you could lose the ability to launch new listings on eBay and your existing listing may not renew.
(Some may have received a deadline of the 20th of July and others may not have yet been invited as payments aren’t deemed ready for their account yet, e.g. Charity Sellers.)
Going through the eBay payments sign up isn’t sufficient if you want to receive your money from eBay sales – you’ll then need to link you bank account with eBay and we’ve heard from a few sellers that this can be troublesome. Most of those who reported issues (generally either your name on your bank account not matching eBay or the bank linking not recognising your banking user name and password) have through dogged perseverance managed to complete the process. Just in case you run into difficulties it makes sense to sign up sooner rather than later.
We are well aware that for many eBay payments will mean significant changes for your business – when you receive your money, how your fees are paid and indeed a change in the fee structure, the loss of micro payments and a change to how your accounting and reconciliation processes are performed. Indeed, we’re still unclear quite how the accounting will work and if a CSV showing gross sales and sales net of eBay fees will be available to download – crucial for those who need to complete VAT returns under Making VAT Digital.
We’re interested to hear your views if you’ve already signed up and are all set for eBay payments to go live or if you’ve decided to delay and still haven’t yet taken any notice of the eBay payments sign up deadline.
Drop a comment below or, if you prefer to be totally anonymous, email us to tell us about your eBay payments sign up experience.