geekhack

geekhack Community => Other Geeky Stuff => Topic started by: phinix on Fri, 30 April 2021, 03:51:32

Title: Ebay forcing sellers to use bank accounts from 31st May
Post by: phinix on Fri, 30 April 2021, 03:51:32
Apparently Ebay is forcing sellers to use bank accounts from 31st May. I just got email about it.
If you are a selling you need to connect your bank account to your ebay account in order to manage your sales.
They no longer going to use Paypal account as a form of payment destination - ebay will take off your selling fees straight away and will transfer you sale payment to your account in 2 working days.
Interesting...
I will have to open new bank account for this now, dont want to connect my live bank account to this crap...

How do you guys feel about this, fellow ebayers?
I'm not happy at all... :mad:
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: fohat.digs on Fri, 30 April 2021, 07:20:05
That is abominable. They have not sent me anything about it, and they usually sent those things out with lots of notice.

I did notice, however, that when I got a refund a couple of weeks ago it went into my bank account rather than my Paypal account. It was only around $20 and I was busy so I didn't really think about it at the time.
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: foxieze on Fri, 30 April 2021, 07:25:04
Yeah, I got an email about that too - I don't really care tbh. If I get my money, then I'm happy.
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: Findecanor on Fri, 30 April 2021, 07:51:35
As long as it is only for money going into my bank account, and they never share my bank account details with anyone, I would be fine with it personally and maybe prefer that. But I still think it bad of them not to offer multiple options.

For private payments from buyers to sellers in continental Europe, bank transfer between bank accounts are otherwise very common. Private payments are required by EU-wide law to be free of any transaction fees.
While my salary account has the same number as my birth date/social security number (Sweden started using the SSN for everything a long time ago), I collect private payments to a savings account with a different number.

And BTW, if more people stopped using PayPal, I'd think that would only be a good thing. I have very little confidence in them these days.
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: foxieze on Fri, 30 April 2021, 08:56:50
And BTW, if more people stopped using PayPal, I'd think that would only be a good thing. I have very little confidence in them these days.

why? just interested, i've always been happy with paypal.
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: phinix on Fri, 30 April 2021, 09:14:51
I'm ok only if its one way transfer - to the account and make sure that ebay has no access to my account.
I dont know yet how that works, but hope this is it.

Imagine how many people now will be creating new bank accounts just for this - I'm one of them, as I dont want to use my current savings account for ebay
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: foxieze on Fri, 30 April 2021, 09:51:22
They only asked for my account number and sort code, so it would be impossible for them to take money out of my accout.
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: phinix on Fri, 30 April 2021, 14:57:33
They only asked for my account number and sort code, so it would be impossible for them to take money out of my accout.

Cool.
I wonder how chargeback will work with this.
Like if someone would like to screw you over and after buying your item call his account being hacked and start chargeback...
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: foxieze on Sat, 01 May 2021, 07:29:49
They only asked for my account number and sort code, so it would be impossible for them to take money out of my accout.

Cool.
I wonder how chargeback will work with this.
Like if someone would like to screw you over and after buying your item call his account being hacked and start chargeback...

i don't expect much would change and it would just be a very similar process to how they did it with paypal. i don't know how that is though, as never gone through something like that.
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: Findecanor on Sat, 01 May 2021, 09:27:31
And BTW, if more people stopped using PayPal, I'd think that would only be a good thing. I have very little confidence in them these days.

why? just interested, i've always been happy with paypal.
I have also been happy with PayPal for a long time, but I've heard many horror stories throughout the years about people getting their accounts locked for all sorts of reasons.

Recently, they changed their login system to use 2FA to phone you and give you a one-time code when you want to log in ... but they failed to verify that the phone number worked before they started doing it.
I believe that I did enter my phone number correctly... However, there is a a mix-up with country code and area code, which means that I still can't log in.

Blaming Corona, they don't have any phone support ... Instead they smugly refer to their "help center" — which would require that I first log in.
And they now also want to charge customers a yearly fee if they don't use PayPal. These things together is beyond shameful.

Plus, they have got involved with Bitcoin — which is a crime against humanity.
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: Leslieann on Sat, 01 May 2021, 18:00:39
They only asked for my account number and sort code, so it would be impossible for them to take money out of my accout.
They absolutely can take money out.
Then how do you expect them to take out listing fees?
Title: Re: Ebay forcing sellers to use bank accounts from 13st May
Post by: phinix on Sun, 02 May 2021, 07:02:08
They only asked for my account number and sort code, so it would be impossible for them to take money out of my accout.
They absolutely can take money out.
Then how do you expect them to take out listing fees?

No they don't.
They take selling fees from buyers payments before send them to you. Then listing fees you have to pay yourself.
At least this is how it sounds.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: noisyturtle on Sun, 02 May 2021, 15:09:11
Never got this email or heard anything of the sort and am currently selling stuff on eBay. Seems sus they don't let all sellers know about this.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: phinix on Sun, 02 May 2021, 15:40:35
Never got this email or heard anything of the sort and am currently selling stuff on eBay. Seems sus they don't let all sellers know about this.

I spoke with ebay support - they do that in intervals, so not all sellers will see it straight away.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: Sintpinty on Tue, 04 May 2021, 21:27:53
Apparently Ebay is forcing sellers to use bank accounts from 31st May. I just got email about it.
If you are a selling you need to connect your bank account to your ebay account in order to manage your sales.
They no longer going to use Paypal account as a form of payment destination - ebay will take off your selling fees straight away and will transfer you sale payment to your account in 2 working days.
Interesting...
I will have to open new bank account for this now, dont want to connect my live bank account to this crap...

How do you guys feel about this, fellow ebayers?
I'm not happy at all... :mad:

People still gonna get away with it  :confused:
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: suicidal_orange on Wed, 05 May 2021, 02:31:59
What I find strange is that they've added direct payment options too.  Why is this strange?  Because us old folk will remember when paypal was part of ebay and something (anti-monopoly law?) meant the companies had to be split.  If they couldn't do it all in one company then why can they now?  Unless they've bribed whoever to say that competing with yourself is OK?  Either way something fishy is going on.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: phinix on Wed, 05 May 2021, 03:06:10
Yeah, I was shoked gettign thsat email, almost as shocked as Bill Gates divorce.

I'm getting new bank account this weekend, just for that.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: Leslieann on Wed, 05 May 2021, 05:04:54
What I find strange is that they've added direct payment options too.  Why is this strange?  Because us old folk will remember when paypal was part of ebay and something (anti-monopoly law?) meant the companies had to be split.  If they couldn't do it all in one company then why can they now?  Unless they've bribed whoever to say that competing with yourself is OK?  Either way something fishy is going on.

Your bank account is much more tightly identified to you, with Pay Pal allowing payments using credit and debit cards it was prone to lots of abuse, hijacked accounts, one time credit cards, etc...  With Ebay connecting straight to your account you can't just use whatever was sitting in someone's Pay Pal account that you hacked and abscond with the goods.  If you manage to get into Ebay and use someone's account, now you have the bank to deal with as well and they don't like losing money.  When it went through Pay Pal banks could offload blame to Pay Pal, "they acted as the bank, let them deal with it".

Pay pal has been warned in the past they were acting too much like a bank, without banking protections, I'm guessing it finally came to bite them with all scalping and cons going around right now.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: phinix on Wed, 05 May 2021, 05:18:02
What I find strange is that they've added direct payment options too.  Why is this strange?  Because us old folk will remember when paypal was part of ebay and something (anti-monopoly law?) meant the companies had to be split.  If they couldn't do it all in one company then why can they now?  Unless they've bribed whoever to say that competing with yourself is OK?  Either way something fishy is going on.

Your bank account is much more tightly identified to you, with Pay Pal allowing payments using credit and debit cards it was prone to lots of abuse, hijacked accounts, one time credit cards, etc...  With Ebay connecting straight to your account you can't just use whatever was sitting in someone's Pay Pal account that you hacked and abscond with the goods.  If you manage to get into Ebay and use someone's account, now you have the bank to deal with as well and they don't like losing money.  When it went through Pay Pal banks could offload blame to Pay Pal, "they acted as the bank, let them deal with it".

Pay pal has been warned in the past they were acting too much like a bank, without banking protections, I'm guessing it finally came to bite them with all scalping and cons going around right now.

So you're saying it should be safer with bank account in process?
I had few chanrgeback issues in the past, when some ******* bought something from me on ebay and once it was posted, they ran chargeback process saying their accounts were highjacked.
One once my proofing of postage saved me from losing money, but for some reason once it didn't.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: Leslieann on Wed, 05 May 2021, 06:21:27
Actually after what just happened, disregard all of that, you can still buy with pay Pal, you just can't get paid with it.

This will stop some fraud sellers, no point posting scam graphics cards, shoes, Playstations, etc. if you can't actually get the money, but why only protect one side of that transaction? Buyers are scamming on those as well so why only so why only protect one side of the transaction in this manner?  Taxes. Too many sellers were not reporting their income.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: Sniping on Wed, 05 May 2021, 10:34:19
the bank account thing wasn't a big thing to me, but as far as i can tell they also raised the buy it now auction fees. it's 12.55% now and it's a considerable chunk of money. i sold something the other week for $780 and they ate over $100 of fees. pretty ridiculous.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: phinix on Wed, 05 May 2021, 10:41:27
the bank account thing wasn't a big thing to me, but as far as i can tell they also raised the buy it now auction fees. it's 12.55% now and it's a considerable chunk of money. i sold something the other week for $780 and they ate over $100 of fees. pretty ridiculous.

No, its less actually - it was 10% for ebay + around 4.5% for Paypal so far. So its a bit less now with bank account.
Selling fees I mean.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: phinix on Mon, 31 May 2021, 15:18:40
Well, it was time...
So opened new account and gave details to ebay.
So looks like they WILL have access to my bank account - by Direct debit.

This was under the "go ahead" button...


By clicking or tapping the button, you confirm the information is accurate and you authorise the respective eBay entities to deduct amounts owed to eBay from your bank account.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: Leslieann on Tue, 01 June 2021, 04:09:32
No, its less actually - it was 10% for ebay + around 4.5% for Paypal so far. So its a bit less now with bank account.
Selling fees I mean.
It depends on the category.
Be VERY aware of category, some are a $20 fee plus 2% final value fee,  I recently got nailed by this.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: Darthbaggins on Tue, 22 June 2021, 13:32:04
Well, it was time...
So opened new account and gave details to ebay.
So looks like they WILL have access to my bank account - by Direct debit.

This was under the "go ahead" button...


By clicking or tapping the button, you confirm the information is accurate and you authorise the respective eBay entities to deduct amounts owed to eBay from your bank account.

Yeah, on that note I'll stick to Heatware, Reddit, Craigslist, and many other sites I can sell through rather than that.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: iri on Mon, 28 June 2021, 05:18:27
So looks like they WILL have access to my bank account - by Direct debit.
What the ****.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: phinix on Mon, 28 June 2021, 05:53:57
So looks like they WILL have access to my bank account - by Direct debit.
What the ****.

Yep, they send you small amounts to confirm bank account (liek Paypal used to do) then take them back themselves, so setting up a full Direct Debit.

Initially, I thought that it will work one way, as they would take all fees from the buyer's payment and then transfer me the rest of it, but looks like they can withdraw money from my account anytime anyway.

Now, I alreasdy sold 2 items with this new setting.
First sold on Thursday - it Monday now and money still not on my account.
Funny, as ebay send you email saying, its paid, send item now. F** no, not sending anything till I actually have funds on my side...

I don't like, but what can you do... :(
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: suicidal_orange on Sun, 11 July 2021, 03:39:22
First sold on Thursday - it Monday now and money still not on my account.
Funny, as ebay send you email saying, its paid, send item now. F** no, not sending anything till I actually have funds on my side...
I guess they're waiting for the money to go from their paypal account to their bank, then they have to sit on it for a day or two to get some interest before forwarding it to you.  They're too big to not pay up eventually but it's not a comfortable situation for casual sellers.

How long did it take for you to get paid?
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: sefixmm on Sun, 11 July 2021, 07:16:26
Ebay made a mistake by forcing sellers to stop using paypal. The new system is just a huge pain in the ass. I will never sell anything through Ebay again.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: phinix on Sun, 11 July 2021, 09:49:48
First sold on Thursday - it Monday now and money still not on my account.
Funny, as ebay send you email saying, its paid, send item now. F** no, not sending anything till I actually have funds on my side...
I guess they're waiting for the money to go from their paypal account to their bank, then they have to sit on it for a day or two to get some interest before forwarding it to you.  They're too big to not pay up eventually but it's not a comfortable situation for casual sellers.

How long did it take for you to get paid?

Well, it depends - when it was sold Thursday-Friday, I get paid Tuesday following week.

I sold something on Monday, money gets to ebay same day, then they "processing" them on Tuesday, then its transferred to my bank account on Wednesday.
****ers keep my money for a day - I know how bank investments work, so they use my money for a day, which is huge in profit on bank's side.
Title: Re: Ebay forcing sellers to use bank accounts from 31st May
Post by: iri on Sun, 11 July 2021, 14:14:25
Ebay made a mistake by forcing sellers to stop using paypal. The new system is just a huge pain in the ass. I will never sell anything through Ebay again.
What's the alternative?