Is eBays payment system safe and FDIC insured

[bivv_0]

Hello, We are a company that sell items that have a cost range from $450. to $1k+. The items are made in the U.S. and ship same day from our online outlet. We are about to try ebay but have been reading some posts and watching the news that has us really worried. 

How safe is ebays payment system? Is it secure and encrypted? Is it FDIC insured in all States?

[bivv_0]

Thanks.

21 days maximum before we have access to funds is the keyword for us. That is not acceptable. EBay seems to be designed for generic brand low cost items and or used and not working or tested items.

[vintage-car-magazines]

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@bivv_0 wrote:

Thank you. This program is not meeting our standards for a secure selling platform.

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I'll ask again....What's not secure?

[bivv_0]

Thank you.

Did you read this? There is no way our company could ever sell on this platform. You could loose everything.

https://pages.ebay.com/payment/2.0/terms.html 

[slippinjimmy]

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@bivv_0 wrote:

Thank you. This program is not meeting our standards for a secure selling platform.

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In that case, forget about selling online because it will NEVER meet your standards.

I presume you accept credit cards online or in your B&M stores, you do understand that whoever is handling your merchant account is also not FDIC insured, probably stores your data on servers that may be located outside the USA, have already been hacked more than once and so on.

Your "standards" pretty much means you are limited to dealing in cash only!

[bivv_0]

Thanks

Our New York merchant cc provider does and is insured. We've also been very impressed with PayPal for online transactions. From what I read eBay is new at this.

[vintage-car-magazines]

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@bivv_0 wrote:

Thanks.

21 days maximum before we have access to funds is the keyword for us. That is not acceptable. EBay seems to be designed for generic brand low cost items and or used and not working or tested items.

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You realize that's temporary, right?

[2013grotz]

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@bivv_0 wrote:

Thanks.

21 days maximum before we have access to funds is the keyword for us. That is not acceptable. EBay seems to be designed for generic brand low cost items and or used and not working or tested items.

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This is standard for any third-party selling platform.  There is always a probationary period.  The one here is 21 days.  Once you prove yourself to be reputable, the 21 days goes away.  The bigger problem with Adyen, though, past Paypal is that you will have an average maximum of half that time to receive access to funds from your sales.  This coupled with their expectation that you ship out the items (and front the cost) before these funds are received.  Very often if this is followed out, buyers commonly receive access to the item far before you receive access to the money from that item.

But indeed, @bivv_0 , the new ebay will not be a fit for you, as it has been for legions of sellers before you that have been pressured into Managed Payments to continue selling on here.

[bivv_0]

Thanks for your help.

Everything. Nothing seems to be secure on eBay. Please be careful. There's no way our brand could use this platform after posting this. Thank you all for your help. I think you all basically saved us serious $$$

[bivv_0]

Thanks.

Yes you are correct. But they don't have polices like this https://pages.ebay.com/payment/2.0/terms.html 

Thank you all for your assistance with our decision.

You clearly saved us from making a huge business mistake.

Please, please be careful.

[slippinjimmy]

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@bivv_0 wrote:

Thanks

Our New York merchant cc provider does and is insured. We've also been very impressed with PayPal for online transactions. From what I read eBay is new at this.

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PayPal was a wholly owned subsidiary of eBay Inc from 2002 to 2015 (when it was spun off), yeah I think eBay knows a thing or two about payments and is hardly "new".  Adyen is not a "digital wallet" like PayPal (and PayPal is not FDIC insured) and is now one of the biggest operators of their type.

Like I said before, only cash is going to meet your requirements.

[vintage-car-magazines]

This post seemed to have an agenda from the get go. At a minimum, one to find support for a pre-conceived notion rather than true vetting or problem solving.

Andy Kaufman comes to mind. I think Andy would prefer eBay to go back to PayPal.

[bivv_0]

Yes, really.

Are you a seller?

[bivv_0]

Than you.

Wow, all just to sell on eBay.

[bivv_0]

There's many articles that report that PayPal terminated eBay. That's very concerning.

[maxine*j]

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@bivv_0 wrote:

... There is no way our company could ever sell on this platform...

Then this thread is dead.   No one is here to persuade you to sell on eBay, or otherwise tell you how to run your own business. 

So good night, sleep tight, and don't let the bedbugs bite.

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