eBay no longer uses PayPal to pay sellers

I just learned that sellers no longer have the option to be paid through PayPal, eBay wants credit & debit access to my bank account for account settlement. **Note: buyers can use PayPal to pay, but the payment is made to sellers by eBay direct to the sellers bank account - so seller's banking information is in eBay's database. Can you say, "Fuck-to-the-NO"? PayPal was the neutral party and I was happy to use them as a clearing house for payments but giving eBay debit access to my account. Nope. Never happen. I know I'm not exactly Mr. Current Events as this changed happened in summer of 2021, but I don't sell much.

eBay's update payments terms of use

• Have any of you sold on ebay since the payment ToU changed and had issues?
• Do any of you that have sold on eBay regret giving them debit access to your bank account?

Link to BBC article

 

I guess, if you're constantly selling on Ebay, just get another bank account JUST for Ebay?

 

Your info is correct.

Your fears are legit.

Your assessment of this being 'old news' is correct.

Not only that, expect them to begin IRS reporting on your sales in the not too distant future.

I'm glad I did the mass of my eBay selling cleanout of the closets a couple of years ago.

 

I closed my 20 year old, 900 feedback account with eBay over this and them wanting my SS#. They couldn’t seem to figure out how to change my account to buyer only.

 

eBay has owned PayPal wholly since 2002 or 2003.

I don't know why eBay made this move, with PayPal and sellers. I don't like it either.

 

I strongly suspect the move (gathering SS# and banking acct deposits for sales) is part of the steps for IRS reporting and easy tracking.

One the ways to collect more taxes from all the rich people.

 

Yeah this change took place a couple of months ago i believe. It’s 100% for IRS reporting, you had to give your SSN if your sales are over $200 or something like that? Can’t remember the exact amount. It’s such BS and really blows honestly, especially since there’s nowhere else to go. Nothing else really comes close to ebay when it comes to selling stuff as a private seller

 

They split up, hence why eBay started their self owned managed payments system. As for the taxing... I’ll find another way to sell stuff that doesn’t require my SS# and the irs.

 

For what it is worth I have a stand alone bank account just for these types of things.

Not even with my normal bank ,

So far it has worked fine money comes in and goes out .

 

I don't sell a lot but I've had no issues, one new feature I like is that I can pay for shipping and have it automatically deducted from the profit before its transfered to my checking account, lets say I sell for something $100 then pay $12 for shipping, I see one transaction of $88 to my checking account.

Not a bad idea to have a completely separate checking account for eBay sales.

 

I stopped selling on Ebay long ago due to the high fees between them and PayPal. I have better luck with FB Marketplace and there is no shipping to deal with and it's free. However I do still purchase on Ebay as I can find things not available locally. So yeah not happy about all the personal info they now require.

 

Yep, I just created an account over there and have my first listing up.

 

Poorly worded on my part. Clarficiation:

• PayPal didn't require debit access to my bank accounts
• Transactions were settled same day vs. eBay multiple days
• PayPal didn't require my SSN
• PayPal and Venmo move money, they aren't a marketplace with a vested interested in attracting buyers which creates a conflict of interest with sellers

The last bullet is what I meant by neutral party. PayPal is incentivized by the experience of safely exchanging and transferring money. Ebay is incentivized by listings, buying and selling. By the way, I'm not sure if this is what you are going for... but the way you type and the content of your response led me to read it in an Alicia Silverstone voice. I'm not sure if that is how you talk in real life but that is how I read it and it put a smile on my face. Thank you for that.

Edit:

Incorrect. You may want to review this page; fees apply to certain transactions and currency conversion while others do not.

 

Yup. Same thing outside of eBay sales using Paypal is happening a lot in the BMX market for one.

 

I stopped selling on EBay because of this. I now buy from other sites

 

I really really try hard to NOT use fleabay…. Both buying and selling…..between fees and lack of customer service and recourse….Are they trying to ruin their business/

 

Should be able to turn this into an advantage if selling used goods? File them as capital losses?

 

I'll consider that confirmation that the ABA stands for American Bicycle Association.

 

Only if you can show that you paid more for the item than you got for it. The burden of proof is on you to prove the total amount you received is not profit. And that really sucks.

 

Yes OK if you have the original receipt. Buy supercharger kit new for $5000, sell on eBay for $1000 after a few years, declare $4000 capital loss.