eBay may finally be losing me

I hadn't heard of that, but was thinking about posting some stuff on there. I would assume that eBay would centrally collect the different payment types and then they would send you the cash to your bank? Is it part of PayPal (I trust their security)?

 

I trust no one who wants my banking info. Period.

 

I am with you here. I stop using any service that wants my checking account number.

 

Sounds a bit like the policy change at Reverb.

 

I recently started using managed payments and have sold some high-value stuff using it. It doesn't matter how the buyer pays Ebay, it could be with baubles and beads for all I care, Ebay pays me net of fees every Monday. I've been paying my fees for years now using direct debit from my bank account which has worked without issue. All things considered, I now prefer managed payments to forcing buyers to use Paypal.

 

I haven't heard this but I only buy from ebay never sell, and yes giving out banking details is sketchy.

I think i would open a separate account just for Internet shopping.

 

I wouldn't sweat giving ebay your account number. It's the way business is done here. Every company has its account details on its invoices. Bank transfers are routinely used in private sales. The cheque (check) has died out.

 

It's a generational thing.

 

Doesn't PayPal already have my bank information for when I transfer funds to my bank account from PayPal? If it's just providing the account and routing numbers, I don't have an issue. Every person or business I've ever written a check to has that information already anyway.

 

Most places won't take a personal cheque any more. The only people that still use them are government departments, insurance companies and the legal system.

 

I would imagine sellers will still be covered by eBay in the same way they are today. Now would probably be a good time to get out the magnifying glass and read eBay's Terms & Conditions to understand fully your rights as a seller.

 

I haven't sold much on ebay as I used to, and I haven't read or been alerted of this potential payment requirement, can't see how they'd be able to force sellers into accepting all the other formats under one system. And sure, it clearly is a generational thing, but like @Baelzebub said, no trusting anyone else with bank info, Paypal has been fine for me since it's inception.
Guess I'll see how this unfolds. First, I need to read about this.

 

There's a lot of money in money. Opening up payment methods to customers is a benefit to sellers, including gift cards, IMO.

As a consumer, I use an App that gives me .9% cash back on eBay gift cards. I get an additional 4% if I pay for that gift card using my linked bank account. That's 5% back on everything I buy from eBay using an eBay gift card. There's hundreds of other merchants in that same network and most kick back more than .9%. So, as a consumer why wouldn't I use that App sometimes?

As a seller.....if eBay is guarantying the payment, then why do I care how the consumer paid, especially if seller fees haven't increased. If fees increase or the process changes and becomes cumbersome that becomes another decision point.

There's a lot of money in money and and we will continue to see all things finance related change because the internet breaks down borders.

 

my loathation for paypal is extreme. just about anything that lets me or my buyers use a different payment service is okay by me...

 

I've never used eBay, and plan to keep it that way.

 

Well
You're correct
That'd be worrisome...
Why not your home address
And
Where your children are
And
The keys to your car
And
Safety deposit box ingress....

 

The only Way I woukd consider that is if I had a separate EBay only bank account that has no ties to the family finances.

 

The most they'll ever get from me is PayPal. I will not share my bank account details.