For all eBay sellers who have been forced to give Ebay a full bank statement.

[oatey9000]

For all Sellers that have been forced to give eBay your full bank statement: It is understandable in a dystopian capitalist sense that some person in the upper echelons of eBay has decided to monetize the eBay user base. They have concocted an excuse about having to “verify” your bank account which does not hold up with just a very cursory examination. There is NOTHING in any bank statement that helps “verify” an account. A tax return, for instance, would be a far more appropriate document, but it would be of no value to eBay’s actual intentions. What is very valuable in your bank statement is what you buy, what services you use etc.. If you bought something from Company A, eBay intends to sell that information to Company A’s competitors. eBay has invested very heavily in AI, it is essentially what is running eBay. AI can very easily analyze statements and run an automated service that supplies user financial transactions that are completely external to eBay that companies can use to go after their competitors customers. This is even reflected in the eBay EULA where eBay reserves the right to provide your financial information to “Third Parties”. These actions that eBay has undertaken are a direct violation of various Federal laws. For those of you who have given eBay a full bank statement all I ask is that you document any advertising or marketing directed at you that is clearly derived from your banking transactions. This may not occur for months, but it will. There will come a point where financial regulators and the DOJ will be able to use this evidence. eBay must be held to account.

[1786davycrockett]

Two years ago, all I was required to provide to eBay was the very TOP of my checking account statement, with the bank name, address, routing number & my checking account number, plus my name and address -- nothing else.

No problems.

Are you sure that you fully understood what eBay was requesting?

[stainlessenginecovers]

Ebay is not forcing you to do anything.

Case closed. 

[chapeau-noir]

Is it time for this?

 

[house*of*paws]

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@oatey9000 wrote:

I would suggest you read the eBay EULA. There is your evidence right there. 

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@oatey9000 

Right where?  I saw no evidence of eBay's intention to sell personal info to competitors of companies we've bought from.  You made that part up.  🙄

[itsjustasprain]

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@snowcakevintage wrote:

What benefit is it to them to know I went to a marijuana dispensary and spent $40 or that I went to a members only club with a $10 door fee

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I think I would be more comfortable in a club that charges a lot more than THAT to get in the door. 

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@snowcakevintage wrote:

or that I bought 12 cases of banana pudding?

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The club makes you buy your own? With a Gold membership you usually get that for free.

[itsjustasprain]

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@oatey9000 wrote:

I would suggest you read the eBay EULA. There is your evidence right there. 

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It is generally accepted that when you make a claim you also provide your evidence to back it up. Gesturing vaguely at the EULA is not the same thing. Please give us the quote that leads you to think that Ebay sells our purchase information to our sellers competition.

[oatey9000]

I have been on countless calls, yes they have made it crystal clear. You will also see that there are many many people complaining about this in specificity 

[oatey9000]

eBay is withholding money from sales and have made it clear that I will never be paid if I do not capitulate. I think that classified as force.

[downunder-61]

I think that classified as force.

No I think it is classified choice - you do not have to give any info you do not want to give - you just can't get paid from eBay until you do.

The funds owed to you will be sent to your state and you can claim them from there.

I would end  the lsitngs you have, because this is just going to compound the problem of money you can't access.

[mam98031]

@oatey9000 

Most sellers registering for MP are never asked for their bank statements or Driver's license or ID for that matter.  Ebay only request those when there is a problem with verifying the seller's identity as they are REQUIRED to by the Federal Government.

Because Ebay is now a licensed Money processor, they have to comply with the Anti Money Laundering laws, The Patriot's Act and there are Banking rules they must comply with.  There is a specific program for identifying an individual call CIP [customer identification program] that they must comply with.

https://www.fdic.gov/regulations/laws/rules/8000-1600.html#fdic8000fra1020.220

https://www.csiweb.com/how-we-help/regulatory-compliance/identity-verification-kyc-compliance/

https://www.irs.gov/irm/part4/irm_04-026-005#idm140052578029968

https://www.protiviti.com/sites/default/files/guide-to-us-aml-requirements-6thedition-protiviti_sec_...

[yuzuha]

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@mam98031 wrote:

Most sellers registering for MP are never asked for their bank statements or Driver's license or ID for that matter.  Ebay only request those when there is a problem with verifying the seller's identity as they are REQUIRED to by the Federal Government.

Because Ebay is now a licensed Money processor, they have to comply with the Anti Money Laundering laws, The Patriot's Act and there are Banking rules they must comply with.  There is a specific program for identifying an individual call CIP [customer identification program] that they must comply with.

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To add in, these sorts of requirements are not exclusive to the US, either. Many other countries also have similar laws-- I just registered with a new Japanese reshipper and under Japanese anti-money laundering law I was required to provide an image of my driver's license to verify my identity. If I did not have a driver's license with my current address, I would have had to provide another document such as a bank statement or bill for proof of address.

[oatey9000]

So, it would seem you are an eBay sockpuppet. I have been an eBay member for over fifteen years, in the entire time I have had the same bank account, same address, same email, same phone#. Again, there is NOTHING in a bank statement that verifies anything. Ebay has withdrawn and deposited money to my account many times. Transactions in my bank statement do not prove anything. If somebody hypothetically had control over my account, transactions would not even remotely indicate that anything was amiss. Also it is very rare that I will sell over $1k in a month, so eBays pathetic excuse about money laundering goes up in smoke. If you care to look around here and in social media, thousands of people are complaining about this.

[downunder-61]

And for all the 'thousands of people complaining about this', eBay have still not changed the requirements so I doubt another complainer will have much affect.

Supply the info, don't supply the info - it is your choice after all.

[itsjustasprain]

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@itsjustasprain wrote:

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@oatey9000 wrote:

This is even reflected in the eBay EULA where eBay reserves the right to provide your financial information to “Third Parties”. These actions that eBay has undertaken are a direct violation of various Federal laws.

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Which laws are those exactly? Please be specific.

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It's been two days now. If Ebay is in 'direct violation of various Federal laws' you should at least be able to tell us which ones. This is another example of when you make a claim you are expected to back it up.

[mam98031]

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@oatey9000 wrote:

So, it would seem you are an eBay sockpuppet. I have been an eBay member for over fifteen years, in the entire time I have had the same bank account, same address, same email, same phone#. Again, there is NOTHING in a bank statement that verifies anything. Ebay has withdrawn and deposited money to my account many times. Transactions in my bank statement do not prove anything. If somebody hypothetically had control over my account, transactions would not even remotely indicate that anything was amiss. Also it is very rare that I will sell over $1k in a month, so eBays pathetic excuse about money laundering goes up in smoke. If you care to look around here and in social media, thousands of people are complaining about this.

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I know that for some that can't find the right words when communicating with someone they don't agree with will just resort to calling them names, I get it.  It isn't necessary and it isn't something that is acceptable on this Community Forums.  I'm confident you can find another way to express yourself and your thoughts on any given subject.

How long any of us has been a member on Ebay does not matter one little bit in regards to signing up for MP or the requirements that Ebay has to adhere to as a money processor with the Federal Government, to include but not limited to the IRS.

There are different laws that Ebay is REQUIRED to adhere to whether or not you recognize it or accept it, it is the FACTS.  As a money processor they are required to adhere to the rules of CIP [customer identification program] as set forth in the Anti Money Laundering law as well as the Patriots act.  As well as they have to adhere to the Banking rules too.

Some light reading.

https://www.fdic.gov/regulations/laws/rules/8000-1600.html#fdic8000fra1020.220

It doesn't matter if you like what I have to say, it is factual and I've supported that for you.  This does not mean anything more than I've chosen to stay informed.  That is a choice for each of us to make for ourselves.

No where will you find ANY post of mine that says I think Ebay is right to ask for detailed transactions on your bank statement.  I personally don't even understand why they need it.  Certainly NOT in the post you are responding to.  It may be you are just looking for someone to be mad at as you are upset by the new requirements on Ebay, IDK, but I'm not your enemy.