It's not about trusting PayPal or eBay, per se, but about trusting the protections they promise. eBay simply doesn't promise much and explains very little. You seem like a trusting person, whereas I haven't had my credit card information compromised nearly as much as you have. There might be a connection there.
That said, one solution I would find acceptable and reasonable from eBay would be (i) that the pre-approvals are for specific transactions (i.e., a specific amount for a specific product) rather than blanket, retained pre-approval with stored information and (ii) an explanation that obligates eBay to those conditions. That's not much to ask. In that case, it would be similar to obtaining pre-approval for any specific purchase (like a pre-approved charge at a hotel) rather than blanket access to a form of payment, with no promises.
Separately, regarding other buyers' concerns, eBay might consider how to use pre-approvals as a mere back-stop rather than a primary method of payment. E.g., eBay could use this form of payment if (i) a specific transaction has been pre-approved (e.g., via a binding offer or bid) and (ii) it has not been paid within X days of the obligation (presumably, X would = the maximum number of days under eBay's terms of service).
As I said, there are many better ways this could have been handled by eBay. I hope they'll correct this current blunder and learn from it for future changes.
klhmdg • Volunteer Community Mentor
