Ebay managed payments criteria

[coinquestx1]

I have an Ebay request that I enroll my Ebay store in their "Managed Payments" program and started the process with the enticement/carrot that I would be paying less for my sales with reduced transaction fees ( less than the Paypal transaction fees).  I started the enrollment process and stopped when I came to the step where I was asked to sign over my business back account to a third party processing agent: http//paywithmybank.com.  So, apparently Ebay will NOT be running the managed payments but, contracting this function out to an unknown third party with each Ebay seller signing over their back (checking) accounts over to them to deposit and withdraw funds at their discretion. I googled 'paywithmybank.com and found that they are not even listed with the BBB and only listed one employee. So, everything is automated???? meaning that there is no human interface involved in the transactions.

 Buyers can claim non receipt of merchandise and receive a refund from my bank account without any check and balances ( proof of delivery via USPS tracking); return damaged or altered goods,  ebay taking funds from my account to pay for return postage when I provide "Free S&H" to the bidder and thereby converting my store from a "For Sale" business to an 'Approval Service'.  Are there any controls or account owner input into any of the transactions impacting my former account that paywithmybank has now taken over. With Ebays' propensity for favoring the buyer in any and all disputes and imposing "Free S&H, Free 30 day returns with the seller paying the postage both ways, etc' this appears to be a recipe for financial disaster. Has anyone signed up for Ebay managed payments and have any experience that they would care to share????? I am hesitant to turn over my hard earned funds to an unknown third party with no constraints or safeguards.

 Jim 

[rfmtm · Accepted solution]

Consider opening a separate bank account.  I use the same separate one for PayPal, and no problems so far.  Many bugs have been fixed, although a few shortcomings still exist.  At least my deposit arrives on time every week.

As far as the returns and refunds, it is what it is, and not much we can do about it.