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Ebay new payment policy

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plushroo:
If you sell on ebay, you probably know that ebay will now send your selling profits to your bank account after deducting their fees instead of paypal. I had to give them my bank info and just today got notified the payment is being transferred for an item I sold Thursday and may take a few days to reach my account. I don't know about anyone else, but part of the reason I sold on ebay was so I could have instant paypal funds as an alternative to spending what was in my bank account (which isn't much now that I'm unemployed). I personally don't like dealing with banks and the bank having access to my money to possibly take their own fees out of has taken out any fun in making extra income. So with that, I will finish up selling all my doubles and probably stop selling on ebay after the first of the year. I really wish they'd leave stuff alone and stop changing everything up for the worse, but know that isn't likely.

Aflame:
thats rubbish ! eBay should put it as an option to do that  not make it compulsory !

banditpony:

--- Quote from: Aflame on December 08, 2020, 05:28:42 PM ---thats rubbish ! eBay should put it as an option to do that  not make it compulsory !

--- End quote ---

Eh. Ebay breaking off their relationship with Paypal was announced almost 3 years ago, I think... but there could of been better communication about the process. I remember some sellers being forced to opt in quite early.

There are some positives though. Our money is a bit safer, and the fees for Ayden should be less than Paypal.. oh and no ability for a paypal charge back, when an ebay dispute ends in the seller's favor (although still potential for CC charge back).

So here is why I say it's safer.
It's not safe to have money sitting in your paypal account. There is NO protection for it (US only, I believe in Europe paypal is held accountable like a bank). There's horror stories of sellers getting their accounts locked or funds drained for things that they weren't at fault for and never being able to get that money back.

It's also not very safe, in my opinion, to spend money received before a transaction is over. If a buyer decides on a whim they don't want the item, and opens a INAD case and there are no funds in the account... then it gets frozen until that  money is replaced. If it's spent, then the seller is in a pickle if they don't have funds to put in there.

If they have the ability to pull out of the bank account... there's no way I would ever sell on ebay again. I'm unsure about that. I'd take back my statement about being safer if that was the case.

ETA:
Not all sellers are switched over yet. My husband has been selling this month, and he isn't switched over. I haven't gotten any email communication about my account either. I'm reading that they expect most people to switch by mid-2021?

Hm. u_u; now that I think about it a delayed payment would be annoying, just because a seller would most likely need to ship before funds hit their account. That will be a change... although other sites do that, like Mercari...

flying_narwhal:

--- Quote from: banditpony on December 08, 2020, 05:59:17 PM ---
--- Quote from: Aflame on December 08, 2020, 05:28:42 PM ---thats rubbish ! eBay should put it as an option to do that  not make it compulsory !

--- End quote ---

Eh. Ebay breaking off their relationship with Paypal was announced almost 3 years ago, I think... but there could of been better communication about the process. I remember some sellers being forced to opt in quite early.

There are some positives though. Our money is a bit safer, and the fees for Ayden should be less than Paypal.. oh and no ability for a paypal charge back, when an ebay dispute ends in the seller's favor (although still potential for CC charge back).

So here is why I say it's safer.
It's not safe to have money sitting in your paypal account. There is NO protection for it (US only, I believe in Europe paypal is held accountable like a bank). There's horror stories of sellers getting their accounts locked or funds drained for things that they weren't at fault for and never being able to get that money back.

It's also not very safe, in my opinion, to spend money received before a transaction is over. If a buyer decides on a whim they don't want the item, and opens a INAD case and there are no funds in the account... then it gets frozen until that  money is replaced. If it's spent, then the seller is in a pickle if they don't have funds to put in there.

If they have the ability to pull out of the bank account... there's no way I would ever sell on ebay again. I'm unsure about that. I'd take back my statement about being safer if that was the case.

--- End quote ---

^This. This split was announced a long time ago and eBay has been phasing people into the Managed Payments program for a while. I don't love their Managed Payments system but it does have some positives like banditpony mentioned. I'll reserve judgment until I've had more experience with it. So far I have had one issue. eBay said my deposit failed (when all other deposits had gone through just fine) and to contact my bank. After some research, I learned others were having the same issue and that the problem was on eBay's end. The money was re-sent later that day and went through normally. I do think that eBay needed to take more time to make sure this system was fool proof before implementing it.

I used to love Paypal but over the years they have made some changes that I didn't like- 180 days for buyers to open a claim, keeping their fees when you refund someone (this is especially infuriating when someone instantly asks to cancel after paying on eBay), and more recently, removing buyer protection for items purchased with the intent to resell. I have not personally had any major issues with Paypal but my husband has to the point that he hates it with a passion.

As for not having the money instantly- yes I definitely miss that.

Taffeta:
The issue of Brexit may or may not affect how those regulations operate in the UK after the end of this month so probably worth keeping an eye on re Paypal and protection, etc.

I use paypal but haven't been able to sell this year. Ebay's fees have been ridiculous for a while tbh. And the loss of categories as well. But the fact that they're streaming people's searches for them also has put me off resuming sales on ebay when things are back on track here.

I am not really intending on doing more selling going forward than just what I have left, but ebay is a lot different from what it was when it first began, and it has been bending more and more towards 'business' and less towards the individual.

I suppose you can set up an internet account separately to deal with it.

Question - does it affect buying things as well re using paypal as a payment method? I would assume that it does, but I haven't noticed any change at present...?

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