mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@wow-what-a-card wrote:After 21 years selling here this may be my exit, there requiring to much of my personal business, raising rates almost 3% more. I'm. Hearing PayPal is not going to be a payment option.
What next ❓it was great years back but for me not many buying these days. Good luck to all I'm packing up
Our rates are not being increased. They are just being put together into one fee. There is no longer a separate 2.9% fee paid to PP.
They have to have your bank account information so they can transfer your money to you. Without it, your money would just sit in your MP account. MP is a basic Money Processing system, it is not a full blown Wallet like PP is.
As for your SSN, that is required for them to have by the Federal Anti Money Laundering laws and by IRS.
@wow-what-a-card wrote:im not changing the way i`ve done business for many years, its either Paypal or the highway for me
The world is always changing. Remember we had the same reactions to Ebay when they made PP mandatory! You made the change and survived. As will those that make the change to MP. But I respect your decision as it is yours to make. You had just stated some incorrect information so I wanted to make sure you had the correct information.
I wish you well in whatever you decide to do.
They are requesting the info need to hack into your bank account, this is unsafe.
How is that? Bank routing numbers are PUBLIC information, anyone can get it. If you have ever issued an actual check, you gave whomever you gave the check to your routing number and your account number. So why is it suddenly different because Ebay wants it.
You have to provide this information if you sell on other similar sites, otherwise they have no where to send your money. Etsy, Amazon, PayPal, etc.
My advise to all who want to keep using ebay, create a totally separate account for this new deal.
This is excellent advice and something I often suggest to sellers too.
Info leaks happen all the time and the less data you hold the better for safety. With the info they are requesting anybody would be able to call the bank customer service and hack your account, and there wouldn't be a paypal or credit card buffer to protect your money, the hacker will get straight to your money.
That is simply not correct. Lets say I know your bank account number. I can't call your bank and acquire your money. That would not be near enough information to accomplish that. If that were true, everyone I have ever sent a check to would have been able to do this and I've been around a awhile now without experiencing this.
I respect the reluctance to give out important data. We all must / should be cautious of that but careful about passing creating a monster that likely doesn't exist.
Hacking is a different subject. Ebay has protected our information for over 25 years. I am unsure why all of a sudden some sellers believe that they will stop protecting the information as the collect this information from sellers moving into MP. That simply defies logic.
@autocro wrote:It is not just routing,
Phone #, date of birth and SSN add to that all the info ebay already has and you can sleep quietly knowing that anybody can hack your bank account with that info.
On top of that "Fishing" like practices, ebay is showing a dialog from a third party to log into your personal bank account with your bank account credentials by default and only showing the routing number option if you close this dialog.
Good luck, but this is a hacker's dream for dev.
Routing numbers are PUBLIC information. Anyone can get that anytime they want. Any bank will freely hand it out, you don't even need a reason. And plenty of banks state their routing numbers on their websites so anyone can have it that wants it.
Your Date of Birth was given to Ebay when you set up your account, so they have had that for years. It is required upon registration because you must be 18 or older to have an account on Ebay.
The SSN they are now just requiring the last 4 digits for many sellers. They only need the full SSN if you are a seller that is likely to have a 1099K for 2021.
Phone numbers are required in a members account set up. It is suppose to be accurate too as it is part of Ebay's way to get ahold of you if needed. Likely you can Google your name and find your phone number pretty easily too.
Ebay has been around for over 25 years and protecting our information. There is simply no reason to believe that now that Ebay is collecting all this additional information on sellers to conform with the needs of MP, that they are suddenly going to say, OK folks we don't need to actively protect this info anymore. That simply isn't even remotely logical.
Again no hacking required to get the bank routing number, so I'm unsure what makes you so uneasy about this.
I get it that this is a HUGE change and no one really enjoys changes of this size. I respect that completely. I was perfectly happy with PP and had or have no desire to change.
So I learned about the program, read a lot of stuff so that I could make an informed decision if I was going to make this change or stop selling on Ebay. However during that time concerns about Ebay getting hacked was not a concern to me. It is no more vulnerable than any other internet site of a similar nature.
I determined that I'm profitable on Ebay and therefore it would be worthwhile for me to adapt. Do my best to protect myself, but adapt. For me it was a good move. I've been in the program now for awhile. I do weekly deposits and it runs smoothly for me.
I hope you find your answers so that you too can make an informed decision with the facts, not assumptions or gossip.
@Anonymous wrote:Well received my invite a few days ago, Hubby received his last month Guess this is the last Month for Us. It was a fun ride, Was top rated Power Seller for over 11 years , Sad to leave , But it is what it is! I will Stick with Paypal.
@Anonymous
Are you making money selling on Ebay? If you are, what has you so concerned about signing up in MP.
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