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?

[vintage-car-magazines]

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@chapeau-noir wrote:

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@katzrul15 wrote:

This thread is now on page 13.......I checked out somewhere around page 8.  Anything new?  Did someone convince the OP and his "business" to give e-Bay a chance?

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No, the apparent goal of sustained satire was not achieved as the effort fell apart early on with all the grace of a truck losing its retreads. 

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@chapeau-noir 

LOL. Now I need more coffee....and some paper towels.

[katzrul15]

Ah....thought so.  Appears a new ID and new troll thread sping-ith.  Goodie.

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@chapeau-noir wrote:

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@katzrul15 wrote:

This thread is now on page 13.......I checked out somewhere around page 8.  Anything new?  Did someone convince the OP and his "business" to give e-Bay a chance?

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No, the apparent goal of sustained satire was not achieved as the effort fell apart early on with all the grace of a truck losing its retreads. 

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[readabouthorses]

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@lepke1979 wrote:

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@vintage-car-magazines wrote:

I thought their application was already approved and the first US branch will be in SF.

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Of all the places they could be and they choose San Francisco? Someone should mail them a bucket of poop so they can acclimate to the area.

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They probably chose SF because Adyen already has an office there.

[slippinjimmy]

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@moondogblues wrote:

"They would also be down the road from eBay who hold 5% of Adyen."

Actually UP the road...one hour north of San Jose, where eBay is located.

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Well I think the elevation of San Jose is higher than the elevation of SF to "they" (Adyen) would be DOWN the road from eBay!

I understand that "up north" and "down south" are common expressions but they are not really geographically correct.

[chapeau-noir]

So is 'out west' and 'back east' which are more historical usage than geographic.  Where I am it's actually 'out east'.

[maxine*j]

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@chapeau-noir wrote:

So is 'out west' and 'back east' which are more historical usage than geographic.  Where I am it's actually 'out east'.

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Down East in Maine is the coast from Penobscot Bay to the Canadian border.  To an outsider that makes no sense, referring as it does to only the upper part of the state and to something that lies more south to north than west to east, in the usual way of looking at a map.  But it's an old reference from the glory days of sailing ships having to do with sailing downwind.

=

[dnasilver]

Big difference with PayPal we dealt directly with PayPal unlike not having any contact with Adyen. eBay controls and decides what to do with your account. That is why in the TOS you signed gave away power of attorney on your accounts to them.

[jonathankirkland]

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@bivv_0 wrote:

Thanks for the truthful information. Based on our research eBay is way to risky for our company to use. Will eBay be making any security improvements soon?

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Your concerns are misguided. You should worry much more about scammers and chargebacks than the payment processing system. I did not read every post but...

I recommend you read and make sure to thoroughly understand the 3 following links if you have not already, at a minimum, before continuing on ebay:

ebay Money Back Guarantee

https://pages.ebay.com/ebay-money-back-guarantee/

Selling policies

https://www.ebay.com/help/policies/selling-policies/selling-policies?id=4214

Managed payments

https://pages.ebay.com/seller-center/service-and-payments/managed-payments-on-ebay.html

Additionally, if you have spare time, hanging around these forums and just reading topics randomly (along with the "Buying" forums), you can learn A LOT of information from the experienced buyers and sellers here who volunteer their time to help out those in need.

If you manage to reach Top Rated Seller status, there are some protections you would have against scammers trying to steal your goods, but it seems with the Managed Payments system the thieves are just bypassing ebay altogether and going with cc "chargebacks" instead.

Not trying to tell you not to use ebay, but I think anyone who is new here and has very little understand about how ebay works needs to arm themselves with as much information as possible before proceeding. Jumping in with both feet and eyes closed is no way to succeed in any business.

Wish you the best of luck!

[jonathankirkland]

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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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@bivv_0 

Paypal has had 3 major breaches in the last decade, the most recent of which was less than 6 months ago.

Not sure why everyone here thinks Paypal is "hack" proof. 🙄

And just because a company has been breached does that automatically make them untrustable garbage? Certainly not.

Anything connected to the internet (Paypal, Facebook, Twitter, your bank, every bank, every government) is prone to being, and has been, and will continue to be, breached at some point or another. The important thing is how each of these companies/governments handle and deal with each of these breaches, and the severity of each breach etc.

[jonathankirkland]

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@eleanor*rigby wrote:

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@lepke1979 wrote:

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If you're really a seller and not trolling, bless your heart.

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An American business person asking--in the opening post, no less--"Is it FDIC insured in all States?" should have been the first big, red flag of many.

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Maybe we're in deep fake AI territory and the Sri Lankans are now rising against us using future technology to seek revenge for being prohibited from selling on ebay!

We're all doomed! RUNNNNNNNNN!

[femmefan1946]

@jonathankirkland 

@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.

@bivv_0 

Paypal has had 3 major breaches in the last decade, the most recent of which was less than 6 months ago.

Not sure why everyone here thinks Paypal is "hack" proof. 🙄

EBay owned Paypal outright from 2002 until 2015 when the stockholders forced them to divest.

As a result, eBay was paying PP  instead of collecting fees.

[femmefan1946]

@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.

@bivv_0 

Paypal has had 3 major breaches in the last decade, the most recent of which was less than 6 months ago.

Not sure why everyone here thinks Paypal is "hack" proof. 🙄

EBay owned Paypal outright from 2002 until 2015 when the stockholders forced them to divest.

As a result, eBay was paying PP  instead of collecting fees.

[pikabo-icu]

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@jonathankirkland wrote:

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@eleanor*rigby wrote:

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@lepke1979 wrote:

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If you're really a seller and not trolling, bless your heart.

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An American business person asking--in the opening post, no less--"Is it FDIC insured in all States?" should have been the first big, red flag of many.

---

Maybe we're in deep fake AI territory and the Sri Lankans are now rising against us using future technology to seek revenge for being prohibited from selling on ebay!

We're all doomed! RUNNNNNNNNN!

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@jonathankirkland   If it is AI, cup-a-water and we're all good LOL Swing away Merrill, swing away.. 

[dugoldstuff]

SF is in the middle of a crime wave.

17 Walgreens closed up and Target is reducing hours.

Seems now in SF, one can shoplift $950 without repercussions.

This must be how eBay got the idea to allow buyers to steal similarly from sellers.

[eleanor*rigby]

Ah, yes. The now infamous "Power of Attorney" argument. I know exactly where that bit of misinformation originated . . . I'm surprised that poster hasn't weighed in on this thread.

[dugoldstuff]

But there could be a ransomware attack like the huge one in the EU on July 4.