Is eBay dropping Paypal?

[frey413sweetheart]

I have a message from eBay stating that they are changing their business model on February 14.  They are not using Paypal, rather, they are hooking up with your bank account.  Any thoughts?

[stuff4divas]

Buyers are still able to pay thru PayPal

The difference is with MP the funds go into the sellers checking account instead of into their PP account

The announcement to stop working with PP in 2020 isn't true in the sense that buyers can still pay their ebay purchases with PP

It's now 2021 and I have plenty of customers paying thru PP 😉

[the_vintiques_vault]

I'm really ticked that not only is this new payment system not in any way a savings to us, the sellers, despite Ebay trying to wrap this up as some great benefit to us (we will now not only pay a larger fee to Ebay but will have to pay that fee on taxes collected also) but they will now require my social security number and bank account information.  I'm checking out other selling platforms.  This is more a hobby than a business for me although we hope to make it a business when my husband retires next year.  Does anyone have recommendations for other platforms that don't demand access to your personal information?

[antiqueztime]

Well since Ebay want's to make buyers wait for money to get transferred into bank accounts,they are throwing fast customer service and shipping out the window ! There will no longer be quick shipping and customers will go to Amazon or any other site that has quicker shipping ! Making customers wait longer to get their items is going to lead to a lot less sales on Ebay unless something is a RARE item they can't get anywhere else ! Saving buyers money on the processing fee's won't help if the customers aren't willing to wait many more days for the same item they can get faster somewhere else ! 

[desertlady40]

Yeah! Ticked is just a nice word to use rather than how I really feel about it. I've just sold my first item using this new thing. First off -- the shipping label cost was taken from my PayPal account. I've received NO money from the buyer (although I feel sure she's paid). I have 2 days to get the buyers package in the mail, but I don't want to do that until I have  my money. What a mess this new thing could be!!!

[desertlady40]

You are so right. I'm thinking about leaving Ebay. They've gotten too greedy!

[mystic_nights]

I don't care who disagrees. Ebay removing Paypal ruined my business and many other businesses. Anytime a company makes a huge change such as Ebay removing Paypal, and makes it to where it holds the funds for sales that sellers make, it makes such a company look suspicious in reference to it diddling with money flipping and possible fraud, which makes buyers flee. I fear that this is the end of Ebay and our sales. Hopefully Ebay will bring back Paypal soon. 

[mart-r]

I wouldn't mind if I could setup my bank account, but keeps failing to verify... 

I'll go elsewhere to sell if I need too, it's just disappointing. 

[rszanti]

This is interesting -

From the eBay explanation: After you register, we'll activate your account for managed payments, which can take between a few hours and a few months to complete as we roll out the managed payments program.

[ewheelie]

The PayPal payment process is ending, so today I am being forced to link my bank account, for unfettered eBay access, for not only deposits, but also unfettered access for withdrawals. In addition, eBay wants me to log into my bank account through a third party app "PayWithMyBank".

 What could go wrong? Does eBay think they are immune to being hacked.? There are numerous ways (screen scraping, hacked API's) that this third party 'PayWithMyBank" could expose my login and password.

#1 My Wells Fargo banker told me to never let anyone have open access for withdrawals on my bank account . This is the same as an open ACH allowing access to my account.

#2 Giving a third party my bank account login credentials?? Once again against Wells Fargo policy!

* I'm trying to figure out if it's better to stay on the eBay selling platform, because I'll soon have less completion with everyone canceling their eBay account - or should I just go ahead and cancel my account. (20 year seller)...

[dgfspring]

I am not giving ebay access to my banking account.  There are too many security breaches.  Shame on them for not thinking about customer security, rather their bottom line only.

[whatzupdoc]

After many years I am no longer going to use Ebay . They have become more and more unfair to sellers as well as unethical in some instances, personally. The employees are still working from home, so if you have a problem it's impossible to call in and have a problem resolved/ if there is any dispute with a buyer no matter the circumstances the seller will be held liable. Good luck everyone.

[jda08121]

Wow are people actually still whining about this?  Paypal is leaving this side of the business. They would not renew their contract. They are going in another direction. Probably one that does not include constantly dealing with the whines of eBay sellers and fronting money. Word is they are also substantially raising their fees. EBay needed to find a company to handle the cash side of the business. They chose Ayden. Sellers can scream and yell and tell falsehoods but those are the facts we have to live with.

[mam98031]

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@jda08121 wrote:

Wow are people actually still whining about this?  Paypal is leaving this side of the business. They would not renew their contract. They are going in another direction. Probably one that does not include constantly dealing with the whines of eBay sellers and fronting money. Word is they are also substantially raising their fees. EBay needed to find a company to handle the cash side of the business. They chose Ayden. Sellers can scream and yell and tell falsehoods but those are the facts we have to live with.

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@jda08121 

I know there is some confusion about this, but what PP’s CEO said was they did not want to renew the Operating agreement / contract. That contract was the 5 year contract that PP and Ebay entered into in June 2015 for the spin off from Ebay. Neither Ebay nor PP likely wanted this contract to last one minute longer than it needed to as it help significant restriction on both parties.

This Operating Agreement is NOT the same kind of contract that secures PayPals services for buyers and sellers on the site. That is a separate type of contract and PayPal DID sign a new contract with Ebay on this. It is a 5 year contract that runs to 2023. It secures that PayPal will offer their services to sellers not in MP and all buyers.

Hard to say at this time if the contract will get renewed. It is simply too early to tell. Later next year is when we would hear about this if there is a need for Ebay to seek out another contract with Paypal.

[kh-vince]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread HERE if you wish to continue to discuss this topic.

Thank you for understanding.