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?

[powell-memorabilia]

You are now in eBay Managed Payments.  There isn't really a way out, unless you start a new account, and I'm sure that the change is coming to every account, eventually.  There is no going back to PayPal.  There is no ability to not provide your banking information (not if you want the money from your sales).  

No doubt you'll hear some nasty stuff about Managed Payments.  I don't doubt that many have real issues with the program, but most sellers do fine.  Personally, I prefer MP to PayPal, but I can see why an occasional seller would prefer PayPal.  

[kensgiftshop]

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@thomas.402 wrote:

What is going on here?

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You're being switched over to Manages Payments.

If you want to continue to sell and get paid, you have to sign up.

[dhbookds]

As said, you are being opted into to Managed Payments which will replace paypal for seller (buyers will still be able to buy with paypal.

MP asks for the bank information in order to send the deposit to your account.  The numbers are those on the face on your checks....so they are not "hidden" from anyone.......  You will also be asked to give your soc sec number which is required by the US government........

[ovelin3]

Why can't we link to a credit card instead?  I will not give ebay my bank account information and if that is the only way to sell or buy, I will leave ebay.

[therogue-trader]

You can't deposit money onto a credit card....

[uswalker39]

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

[uswalker39]

So if they are reporting to the IRS will we be getting a 1099 to report our sales.

[uswalker39]

So if I sell something will I get  1099 to report my sales on my IRS tax form.

[uswalker39]

Are your sales reported to the IRS and do you get a 1099?

[volumeknob59]

I would like to know the answer to this as well!

[mr.ipanema]

I guess I am no longer an eBay seller. No way in hell am I giving eBay my bank account info.

[cg201314]

I called eBay to ask if there were any alternatives— sending me a check or ANYTHING but they told me the only way I could continue to sell was to give them basically all my deeply protected personal info: social security number and bank account info. NO WAY!! I’m terminating my account I no longer trust them. 

[misfitfun]

Yes if you meet sales volume threshold but you are suppose to self report sales below threshold

[yuzuha]

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@cg201314 wrote:

I called eBay to ask if there were any alternatives— sending me a check or ANYTHING but they told me the only way I could continue to sell was to give them basically all my deeply protected personal info: social security number and bank account info. NO WAY!! I’m terminating my account I no longer trust them. 

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Your bank account info and routing number are on literally every check that you write.