Why is eBay asking me to provide my bank information to get paid?

[thomas.402]

When I visit my selling page and review how I get paid I see the following: "Getting paid has changed: Fees and expenses will be deducted before you get paid out and the remainder of your earnings will go directly to your bank account, not your PayPal account. Get set up in a few easy steps."

When I go to the customer service site, it mentions no such option (see link below). I am very concerned about giving out may bank account info:.https://www.ebay.com/help/selling/getting-paid/getting-paid-items-sold?id=4135

What is going on here?

[downunder-61]

As you are in Sri Lanka, I fail to see how the 1099K has any relevance. You will be required to adhere to your own governments tax requirements, once you are legally allowed to sell on eBay.

[mam98031]

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@vinura2015 wrote:

I think ebay should have to give the guarantee to keep our privacy and also we should have to know about IRS Form 1099-K.

https://turbotax.intuit.com/tax-tips/small-business-taxes/what-online-business-owners-should-know-ab...

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A 1099K does not affect any other country other than US sellers.

[pimuwijewa0]

importen for user

[rudyamonn]

Correct however if there is fraud with a check, most likely bank will refund any loss. However if you willingly give out your account number, you could be liable for fraud, hacker etc..don't know if Ebay can protect us from this or refund any loss. I will be closing too. 

[shoebooty2011]

YUP,  That is what I did, but still they have your info ssi # and birthdate : (  I have Credit Karma, and lock on my Accounts, anything I am Alerted

[mam98031]

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@shoebooty2011 wrote:

YUP,  That is what I did, but still they have your info ssi # and birthdate : (  I have Credit Karma, and lock on my Accounts, anything I am Alerted

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@shoebooty2011 

You had to give Ebay your birthdate when you joined the site.  All members have to be at least 18 years or older.  Ebay requires your birthdate to set up an account on the site.

[yasara_00]

eBay now is managing payment, the money will directly transfer to your bank account, PayPal is longer available.

[cynha-5147]

I am not a fan of managed payments!

That’s certainly depressing. Sigh.

[cynha-5147]

Yes. I think the same as you. That’s certainly depressing.

[cynha-5147]

I feel the same way. I don’t trust their privacy to that extent.

[cynha-5147]

You should think twice before doing it.

[cynha-5147]

Yes, exactly. But not that they are simply managing payments.

[cynha-5147]

Thank you for the information, I am not a fan of managed payments!

[cynha-5147]

Perfect and you have every right within the laws to make the rules for that site as you see fit.

[cynha-5147]

Thank you for taking time and explaining this to us. I appreciate that.