Ebay demanding bank account info

[fishyfool]

I have been a paypal user since ebay forced me to sign up with them in 1999. (they were a part of ebay)
I have become comfortable with their service and I am not willing to change payment providers.
Ebay is sending me threatening letter through my email to update my payment info or there will be some unknown repercussions.
I am about a day from contacting a lawyer and suing ebay if they don't either mail me a check or deposit my funds in my paypal account.
Any suggestions besides giving ebay my banking info?

[varebelrose]

"unknown repercussions."???

They are very clear on what the repercussions are. You will no longer be able to create new listings, or receive funds from existing sales. This has been in the works for over three years now. There are many, many, MANY long discussions on this topic here.

Many of us (myself included) have stopped selling here because of this. There are other options. Some have adapted. Either way, there is zero a lawyer can do, and the user agreement you agreed to precludes any lawsuit. Sorry, thats just the way it is.

[terrycece62]

eBay is required is obtain your selling bank account information so you can be taxed on your   eBay sales 

Thats my understanding 

[justafemster]

You agreed to these changes.  Yup, you did.  Every time ebay changes the user agreement, you get a message.  And by continuing to use ebay, you agreed.

Now back to the issue that's bugging you so bad.  Ebay separated from paypal in (I think) 2008.

Now all payments go through ebay's managed payment system.  Fees are taken out from the sales (no more paying the bill monthly), you can print postage with pending payments and the money is deposited directly into your bank account 2-3 days after the sale.

If you don't provide ebay with the information ebay wants, you don't get to sell and ebay holds your money (forever?).  

It's simple.  How is giving your account any different than what you gave to paypal 20 years ago?  It's the same information on every check you write.  There's more of a chance of someone stealing that information FROM a check.  

Oh and you can't sue them, arbitration only (which you also agreed to)

Welcome to the 21st century.  Things change, roll with it. 

[annadryl]

Suing for how much? And how much in legal fees it worth?

Is Judge Judy still doin' her thing? I'd watch it...

[fab_finds4u · Accepted solution]

You can still use PayPal to pay for items. But if you want your money from selling eBay puts it in your checking account. Make an account just for eBay. Give them your bank info and ssn if you want to get paid. 

[north40sales]

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@terrycece62 wrote:

eBay is required is obtain your selling bank account information so you can be taxed on your   eBay sales 

Thats my understanding 

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They need that information on a seller's bank account so they can deposit the seller's money from their sales.   Nothing more dramatic than that. 

[varebelrose]

"eBay is required is obtain your selling bank account information so you can be taxed on your eBay sales "

This is incorrect, it is so that they have somewhere to send your funds.

As far as issuing a 1099 on your gross reciepts, eBay will do it the same as Paypal did in previous years.

The AMOUNT that will trigger a 1099 issuance is changing for most people, but that is a government issue and is not something eBay or Paypal has control over.

[fishyfool]

Actually, being as I live in California they have to give me another option

[fishyfool]

1 dollar and court fees.

[fishyfool]

You really don't know the laws of the Great state of California (which ebay does business in no matter if they are a delaware corporation)..

[releasethekraken_1]

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@terrycece62 wrote:

eBay is required is obtain your selling bank account information so you can be taxed on your   eBay sales 

Thats my understanding 

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No. eBay needs the bank account info so they can give the OP the money. I’m not sure why that isn’t obvious, but I see your guess posted frequently.

[terrycece62]

 Okay

Thanks for the clarification @varebelrose  

[dryophelia]

@fishyfool 

You have another option. 

Stop using eBay to sell. 

When PayPal was the payment processor, we had the same two options. 

[varebelrose]

"You really don't know the laws of the Great state of California (which ebay does business in no matter if they are a delaware corporation).."

Ummm, eBay has been based out of San Jose Ca. since day one. Just sayin'....