DEMANDING bank info will reduce sellers

[kerrdan]

Security more important than ever.....is causing me to leave. Ebays dictatorial demands with high fees and continual shipping issues has made a fun useful venue a pain in the butt. Adios .... a small 20+ year seller.

[myescape]

You gave paypal similar info(if not bank account credit cards and social security number)

Shipping issues are not ebays fault-that's on the carriers

[theguitarpartsguy]

Reverb lost a lot of sellers, myself included, Etsy took them over and they demanded bank account information.  It's ONE thing to give Paypal your banking info, Paypal is a FINANCIAL institution and has pretty strict security in place.  EBAY, on the other hand is NOT a financial institution and really has no business demanding the bank account information of all it's users.  Ebay in terms of sales is just like any other retailer, and I would never leave all my account information with any of the others, either.  I don't even do that with my local utilities like my water company, and those are all people I know.  It's just a security risk I would rather not take, and I'm FAR from the only one.

[jameshen1]

PayPal is not a financial institution and your money and your information is not insured there.  If there is a hack and your money is taken from PayPal, it is not insured and you are out of luck.

[bronx-dog]

Although PayPal is not a bank, it is still subject to many of the same consumer protection regulations by which banks are governed. For example, the extent of your liability  for an unauthorized transaction is determined by how promptly you notify the bank that unauthorized activity has occurred in your account. Notifying PayPal quickly when you have concerns will help to limit your liability, and it is recommended that PayPal users check their accounts regularly.

[frschi_25]

I also am an occasional seller on ebay and refuse to give ebay enough personal info for someone to steal everything I own.

[frschi_25]

Having money taken from Paypal is one thing, having access to enough info to take everything you own is another.

[fab_finds4u]

SMART sellers don't give eBay an access to an account that all your money is in. They make a separate account to receive eBay  payouts and they only use it for eBay.

[fab_finds4u]

eBay needs your ssn because they are required to report to IRS when your sales reach a certain amount. In the past PayPal sent the 1099-K. Now eBay will be the one sending it.