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ebay forcing sellers to provide personal bank account information

tylerite3124

Platinum Level Sponsor
I have been informed by ebay that I must register to allow ebay to handle all my buying/selling money transactions for my ebay store. They require that I provide them with my personal banking account information by July 15, 2020, or I will lose my ability to list new items. This sounds like coercion to me. Anybody have an opinion? Thanks.

Rick
 

sunalp

Diamond Level Sponsor
It's not a phishing scam. Ebay and Paypal are no longer connected. They've been allowing the
use of Paypal, but as Rick stated, they are ending that and want people registered with their
info.

I personally don't like it and will make Ebay a place where I may not sell items any longer.
I don't like putting personal banking info in places that have the ability to be hacked.

Perhaps if they lose enough sellers, they'll revert back to what they've had in place.

Seems , with time, Ebay isn't as much fun as it used to be.

Steve
 

tylerite3124

Platinum Level Sponsor
It's not a phishing scam. Ebay and Paypal are no longer connected. They've been allowing the
use of Paypal, but as Rick stated, they are ending that and want people registered with their
info.

I personally don't like it and will make Ebay a place where I may not sell items any longer.
I don't like putting personal banking info in places that have the ability to be hacked.

Perhaps if they lose enough sellers, they'll revert back to what they've had in place.

Seems , with time, Ebay isn't as much fun as it used to be.

Steve

Thanks Steve. The one area where ebay has the edge is in International sales. About 50% of my Sunbeam business comes from overseas. Are you aware of another platform that competes with ebay Internationally?

Rick
 

v13311

Silver Level Sponsor
Thanks Steve. The one area where ebay has the edge is in International sales. About 50% of my Sunbeam business comes from overseas. Are you aware of another platform that competes with ebay Internationally?

Rick[/QUOTE


Try kijiji.com They are based in Canada but deal internationally.
 

hartmandm

Moderator
Diamond Level Sponsor
One option to reduce risk is to open up a "sweep" bank account and use that with EBay. Hopefully you have some 'relationship banking package' where you can have another checking account for no fee. Generally keep no money in this sweep checking account. Only link the sweep checking account to EBay. When you have received funds in your EBay account and want to move those funds to your bank, send them to the sweep account. Then transfer the funds out of the sweep account to your real checking account. Do not setup overdraft protection on this sweep account for obvious reasons.

Replace "PayPal" or "Venmo" with Ebay in the diagram below.

upload_2020-6-17_21-20-32.png

Mike
 

65beam

Donation Time
The difference could be that Rick has an E Bay Store which makes a difference in fees, how money has to be handled, etc. It sounds like E Bay is telling him he has to become a verified seller. The wife and I both sell on E Bay and we haven't encountered what Rick mentioned. If you have more than 200 sales transactions or sell more than 20K a year you'll receive a 1099 from E bay. That income has to be reported on your tax returns. E bay now has to charge state sales tax where the sale is made. As Mike mentioned, we have a checking account that the only use of it is to transfer Pay Pal money to.
 

Warren

Bronze Level Sponsor
Really ePay and PayPal aren't related that's pretty ridiculous considering they don't allow any other payment's that they can't control. Unless something is changed. 12.9% is pretty ridiculous. I used to give options of sending a .75 cent money order or a postal money order or a personal check.
In their efforts to protect themselves I mean protect their clients from fraud they said no way you have to use PayPal and nothing else. I was actually thinking of using the Facebook marketplace. It seems really ridiculous to have to pay sales tax on somebody's used item or stuff that they would ordinarily try to sell at a garage sale. It's almost as funny as when you would go to a swap meet and they would hand you a letter saying go out and charge sales tax on the items you're selling out of your garage.
 

tylerite3124

Platinum Level Sponsor
Really ePay and PayPal aren't related that's pretty ridiculous considering they don't allow any other payment's that they can't control. Unless something is changed. 12.9% is pretty ridiculous. I used to give options of sending a .75 cent money order or a postal money order or a personal check.
In their efforts to protect themselves I mean protect their clients from fraud they said no way you have to use PayPal and nothing else. I was actually thinking of using the Facebook marketplace. It seems really ridiculous to have to pay sales tax on somebody's used item or stuff that they would ordinarily try to sell at a garage sale. It's almost as funny as when you would go to a swap meet and they would hand you a letter saying go out and charge sales tax on the items you're selling out of your garage.

Charging sales tax is not eBay’s doing. It’s the greedy politicians who saw billions of dollars in sales going untaxed. It has to be a pain for ebay to have to collect and pay sales tax for 50 States. Do you know if FacebookMarketplace reaches outside the US?
 

Warren

Bronze Level Sponsor
I get it about greedy politicians.
I could go on but then it would be like political speech. Unfortunately I think that eBay marketplace has a mileage on it. A car club has even gotten to the point where it doesn't want to go to an event and sell t-shirts. It's too much trouble to figure out what the sales tax is in each county and do the accounting for it. We can't all be like the guy who bought a MK2 online shipped it to his brother's house in a state where they don't charge sales tax on used cars. I wonder if they have sales tax in Chaz :)
 

tylerite3124

Platinum Level Sponsor
I get it about greedy politicians.
I could go on but then it would be like political speech. Unfortunately I think that eBay marketplace has a mileage on it. A car club has even gotten to the point where it doesn't want to go to an event and sell t-shirts. It's too much trouble to figure out what the sales tax is in each county and do the accounting for it. We can't all be like the guy who bought a MK2 online shipped it to his brother's house in a state where they don't charge sales tax on used cars. I wonder if they have sales tax in Chaz :)

Warren:

Do you know if Facebook Marketplace reaches outside the US?

Rick
 

Warren

Bronze Level Sponsor
Sorry IDK , but having tried to sell air cleaners housings for years it takes a wide net.
 
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