I just made the switch to managed payment through eBay. In short, we don't have a choice. Payment is still made prior to shipping, but is in eBay escrow, per se, and available for transfer to your bank account on file within 24-48 hours. I agree that not having instant access to the money is lame. At least with PayPal, even if I didn't request a transfer of funds into my bank account, I can still use the money in my PayPal account for other retail or person to person purchases.
As a seller on eBay since 1998, I'm with you, I am not super excited. BUT, I believe the system is safe, and if the goal is to have the money in your bank account, the total amount of time to get it there seems to be about a day longer than before.
I hope this helps a bit.
Jeff
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