Why is eBay asking me to provide my bank information to get paid?

[thomas.402]

When I visit my selling page and review how I get paid I see the following: "Getting paid has changed: Fees and expenses will be deducted before you get paid out and the remainder of your earnings will go directly to your bank account, not your PayPal account. Get set up in a few easy steps."

When I go to the customer service site, it mentions no such option (see link below). I am very concerned about giving out may bank account info:.https://www.ebay.com/help/selling/getting-paid/getting-paid-items-sold?id=4135

What is going on here?

[planetmarkets]

You could also open a bank account where you keep very little money and give it to them. It may have a monthly cost, though. What they want is basically have easy access to your money for any charge. 

[planetmarkets]

nsloane is right. When you provide your bank account you are giving them access to withdrawals of any amount. You can't control what they are going to charge and take from the account.  Give them a checking account you have little money in balance and they won't have much available.  Ask the bank not to pay any charge. 

[rstaghin]

Agree 100%, I'm a powerseller with 100% feedback and i'm afraid of this and potential fraud with giving my personal information, SS + Bank account. I have until tomorrow to add my personal information, if I don't I can no longer create anymore listings. This might be the end of the road for me, as I've paid thousands of dollars to ebay for years. 

[tobor8th-man]

I have not written a check in 8 years??????  Are you in the 21 century?

[kayzrx82]

I've been with PayPal and eBay for 15 years . This is very annoying. I guarantee you this is being done because they are being forced to report your income generated on the platform to the IRS. I'm not a power seller but I buy alot on eBay. I guess i won't be seeking anything anything anymore on here. It's not that I don't trust eBay, I don't trust their security or hackers . I've had my account hacked before , not giving them my bank account and social next time. I'm good. 

[johnc5890]

I've been with EBAY many years but giving them my banking information is asking too much.  The PayPal operation was a good way to buy and sell.  I am left wondering why PayPal is no longer a viable way of moving money back and forth for EBAY,  no explanation from EBAY has been forthcoming.   If EBAY insists it is thier way or the highway then goodbye.

[o12gymike1937]

It is for their convenience, the Social Security is only a small part of the information they want.  They don’t need your bank account information for tax reporting purposes, they need your Social Security or tax ID number for that. They want your bank account information so they don’t have to deal with a third-party company like PayPal if there’s a dispute and nobody should be giving eBay access to their bank account.  How many times do you hear on the news a major company has had a security breach and your  personal information was hacked?  Now imagine having to get a new checking account number with new routing information because the information you gave eBay is now out in the world. I understand we rarely write checks anymore, but once a year I have to write one, which means I’ll have to get new checks every time this happens, new bank check card. Plus you’re giving eBay the authority to reach into your checking account to pull money out whenever they feel fit to do so. F that, anybody who allows a company to do that is stupid. PayPal couldn’t even do that on a dispute unless you had it authorized for them to do so would some people didn’t know there was a setting to opt out of allowing them to do that. But with eBay there is no opting out. 

[o12gymike1937]

No, you can no longer use PayPal as a seller to have money deposited into after you make a sale. But the bigger concern is why are you fine with linking your bank account with eBay? You are authorizing them to reach into your bank account and pull money out whenever they see fit, if there’s a dispute and even more concerning if they get hacked, anybody can then reach into your bank account and withdraw money, I’m assuming this would be the same account that you use to pay your bills, there’s gonna be a whole Lotta stuff bouncing. no company should have that kind of access to your personal information. 

[o12gymike1937]

You are exactly right, they’re not required by law to have your Social Security information, they are required by law to report your sales if you reach the threshold, they’re just trying to make it easy for themselves if you do break that threshold, that’s they’re not fighting with you to then get your tax ID number, I don’t ever, in my 20 years of selling on ebay,com close to any threshold, this nonsense should not be required for personal accounts that only do small transactions a year. 

[soldout001]

yes they can deposit the check as filled out and cant add to my account or take away from it

[soldout001]

and yes i used a credit card

[brehur]

I am done with them also.  Reverb did the same thing and a buddy of mine's checking account was hacked.  Bank had to freeze his account after several thousands of dollars was taken.  He couldn't pay his bills and it was a long drawn out process.   His bank did make it right but it was a big pain in the ass

[seda_7657]

They are also asking for your social security number!

[oliverlabrador222]

Yes these details are on cheques but eBay also has your email address and  home address and pretty much everything a scammer would need. 

[katmgruber]

Just tried to list a couple items and was notified that "Your ability to list new items, relist, and revise listings has been suspended, effective immediately. To resume managing your listings, please sign up now for eBay to manage your payments"  Spoke to a representative, no alternatives.  No way I'm giving Ebay my bank account information.  Guess I'm done with Ebay too.