New demands for Checking Bank account and Home address on file

[babywatermellon]

How are you all feeling about the new demand instead of using PayPal or other type of sell/buy payments now we all MUST disclose our Home address and Checking Bank accounts for processing ANY transaction?

Also, if we do not - we will NOT be able to post new items or manage our eBay accounts if we do not agree to these demands...

A note for eBay management:

My Checking account IS with a POBox address. I have been processing payments with PayPal ONLY BECAUSE eBay demanded PayPal to be the payment processor when I joined eBay!!! The fact we, your not only customers but in fact - YOUR EMPLOYERS - have been made to open special accounts to accommodate YOU, eBay, and now DEMAND we either disclose our personal information or basically abandon our accounts of sellers/buyers with you is unethical, to say the least! Do I have to open a NEW BANC account just to be able to still have my eBay Store function?!? Are you going to pay the fees for it?!

I find it ABSOLUTELY intrusive and most possibly - not legally sound. Will definitely seek legal advice on this! It is going into play starting TOMORROW, the 1st of February 2020.

[disneyshopper]

ebay and Paypal did not renew their contract, so ebay went with Adyen to be their payment processor.  Payments will now go to your checking account so you will need to provide your social security number and a checking account number by the deadline given to you.  If you do not, eventually you will not be able to continue selling on ebay.  All sellers will eventually be in Managed Payments by the end of 2021.

You do not have to open a separate checking account for Managed Payments, but many sellers do as they do not want their ebay funds co-mingled with the family account.

[vostoktrading]

Not happy about this at all.

Had to stop shipping overseas last year because of covid delaying deliveries causing lots of refund demands.  No change in overoptimistic delivery dates imposed. Now this? Obviously ebay doesn’t think much about its sellers. Just beat up on us whenever you feel like it. There’s no other game in town so you don’t have to worry about us moving on. Management?

[kensgiftshop]

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@babywatermellon wrote:

Will definitely seek legal advice on this!

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Legal advice about what?

Sellers have had 3 years to prepare for the change.

[reallynicestamps]

I have been told to enroll in MP on two  of my accounts and have been holding out because I cannot add my American bank account -- only my Canadian one.  (I am in Canada but sell in both currencies.)

Attaching a checking account makes sense, since eBay will be transferring payments to our bank accounts daily or weekly (our choice which) and will not run a balance as we can with PP.

This means that subcriptions, Promoted Listing fees, refunds, etc. would have to come from our bank accounts and the simplest way to do that is with a checking account.

I have at least one savings account which has no checking privileges (Tax Free Savings- this may be a Canadian thing, but they are popular here).

So I have no problem with providing a checking account number.

I will be opening a checking account with an online bank when DD visits and guides me through the process. She has been using online banking since she left university 20 years ago, and prefers it.

The SSN is not demanded here. It would actually be illegal for eBay to demand our Social Insurance Numbers. American law appears to be a lot looser than Canada on that topic. Basically only employers and banks can demand our SIN, because: income tax.

I think the demand for a street address would be awkward for a lot of members. Those who move often (I'm thinking military families) or who live rurally (we have community mailboxes in many rural and suburban communities rather than door to door delivery). Again our Canadian experience may not transfer.

However.

It is very easy to make a PO box number into a street address.

Instead of:

PO Box 123,

345 Any Street

Anytown, FL

90210

Use:

345 Any St., Unit 123,

Anytown, FL

90210

I sometimes when I am very bored, look up where my parcels are going on Google Maps. You would be amazed at how often what appears to be an apartment address is obviously a PO Box or a UPS mailbox.

[kensgiftshop]

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@vostoktrading wrote:

Obviously ebay doesn’t think much about its sellers.

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They thought enough of us to come up with a way we could still get paid for the items we sell.

[divwido]

I felt find and have no complaints, but do as you wish.

[divwido]

wow, that was so wrong and so rude.

[wrong66]

What? Wrong and rude? Seriously?

[mam98031]

Have you researched this at all?  Are you aware that all the other similar sites to Ebay have had their own money processing policy for years.  Ebay is actually the last to come to the table.  This is common practice in the industry for the larger sites.  You can go to smaller less traveled sites and still use PP.  But your sales are likely to suffer.

Because you don't like something doesn't then make it illegal.  Just think if you were selling on Mercari or Poshmark.  You can't get your money until AFTER you ship and the buyer has received the item.  So the grass isn't always greener on the other side.

But in the end, you need to do what is best for you and your little business.  If selling here isn't profitable for you, then going through this change may not be worth it for you.

Good luck in whatever you decide to do.

[whgamer]

I guess and think this may for the time being at least this new Bank Account info and so on is, at least so far, is only concerning the North American residence part? is it not?

But what about International ones? Yes, all outside of the U S of A. Will we also be affected by this in time, or are we quite simlpy just out of it? Or what/how?

[piggysplace]

I will most likely close my account.  With shipping skyrocketing, fraudulent and scam buyers, and now ebay demanding direct access to my financial institute, there isn't enough meat on the bone to survive selling what I may sell. 

As a buyer, well, again shipping is hurting, and I can buy local as cheap and support my local brick and mortar stores. 

[itsjustasprain]

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@babywatermellon wrote:

I find it ABSOLUTELY intrusive and most possibly - not legally sound. Will definitely seek legal advice on this!

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So - what have you learned?

[vintagecraze50]

This system works quite differently than PP.  Since the money is going directly into YOUR checking acct, they have to be extra careful here that they are sending that money to YOU, and not somebody else. They also need certain information to be able to report your earnings to the IRS. You may need to look into starting an account reserved for Ebay and Ebay alone. Chime has been advertising a pretty sweet checking account that transfers money FAST. THAT will be another thing that you will probably not like if you choose an bank that processess ACH transfers SLOW. SO IF YOU INTEND TO CONTUNUE RESEARCH THIS. Chime might work very well for people here .

[readabouthorses]

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@whgamer wrote:

I guess and think this may for the time being at least this new Bank Account info and so on is, at least so far, is only concerning the North American residence part? is it not?

But what about International ones? Yes, all outside of the U S of A. Will we also be affected by this in time, or are we quite simlpy just out of it? Or what/how?

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This is not just a North American thing. They are adding countries slowly. So far they have started Managed Payments in United States, Germany, United Kingdom, Australia and Canada. France, Spain and Italy are coming in early 2021 and China starting in April 2021.