Besides the 12.35% fee for managed payments eBay will also take an additional 3% if the buyer is not within the USA or has a shipping address that is outside of the USA, this includes Canada and Mexico.

The payments will actually be handled by Ayden in Europe for eBay but eBay will now be the merchant of record, not you. When signing up for managed payments you will be asked to sign into your back account through eBay as they monitor. If that does not work then you will be asked to provide your account number and bank tracking number. They may also ask for a copy of your bank statement, your driver license, etc. per reports from other sellers.

Payments to your checking account can be setup to be paid out per transaction or weekly, monthly, etc. Just be aware some backs can take 7-10 days to process the electronic transfer to your account after the sale but you'll still be expected to ship right away, or at least within your posted processing time.

If you follow Ecommercebytes.com's newsletter or blog you can see reports from other sellers and all the latest news and info. A number of eBay sellers have stated they will be closing up shop when forced into managed payments since they do not want eBay having their banking information.