eBay Forcing you to give your checking account with routing number and Social Security number

[loriv8473]

Forcing you to give your checking account with routing number and Social Security number . I am not a big seller I just sold a few things I never used that I had then eBay locked my account AFTER selling some stuff saying I had to update my account. I refused to give my private information. I called eBay and of course I was tossed around from one person to another. I asked them why PayPal doesn’t ask you that kind of private information they allow you to use your bank card like a credit card and do two small deposits with one withdrawal to verify. If you are a business they only require your EIN number.  Never do they ask you for your private information. Brittany from eBay the last woman I was talking to said well PayPal is a Financial company and a eBay is a market place. Ok so that supposed to make me feel comfortable giving Them my private information? That is supposed to tell me it’s Secure to do so? I had to ship the stuff I sold to the people because I’m not a jerk but eBay won’t give me my money. I told Britney I was deleting my account she sent me the link. Once I know the people received what they purchased ( because I’m honest)  and want to make sure they got it even though it cost me money. I WAS a victim of fraud twice. My SS# was stolen and it ended up freezing my tax returns and the second time I had my bank account drained. I was told by the police to NEVER give your SS # out other than in person and never give your routing # out unless it’s in person or a government site which have very high security and Only if you need to exp: direct deposit tax return. I have never given it out since. There is NO good reason eBay needs that. They have documentation they took the sales tax out. Personally I think anyone that got ripped off by eBay and they will not give them their money back need to get together and sue eBay. 

[yuzuha]

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@mr.realtyenterprises wrote:

I have a problem with them wanting me to LOG ON from the ebay site into my checking account. 

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You don't have to. I use a small local bank and I just entered my details manually. I got a message about 20 minutes later saying that I'd been accepted and things were all set up.

[mam98031]

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@yongscholar wrote:

Re: eBay Forcing you to give your checking account with routing number and Social Security number

Replying to wrong too many times:

Yes teacher, I am still right. Your quirky one liners remind me of the movie Back to School -Rodney Dangerfield You don't know whether to laugh or cry.

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No you aren't.  See my post up thread.

[mam98031]

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@mr.realtyenterprises wrote:

I have a problem with them wanting me to LOG ON from the ebay site into my checking account.  I logged on to my paypal site from ebay bc they are basically the same company and bc paypal is not my bank and only controls whatever amount I have in the account.  I don't feel comfortable with ebay having access to my bank account.  They will surely mess that up like everything else they mess up with no responsibility. 

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You do NOT have to do that.  That is an OPTION to verifying your checking account, but it is NOT a requirement.  At the bottom of that screen you should be able to search for your bank.  Try that first.

Ebay and PP are NOT "basically the same company".  They are two completely separate companies.  Ebay and PP split in 2015.

[tealt]

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@mam98031 wrote:

Back in 2011/2012 you were required to give it to PP because of new IRS rules regarding 1099Ks.

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If I've read it once, I've read it 500 times on this board (and elsewhere), that if you are a seller and used PP, "you gave you SS# to PayPal".

Poster Kayzgazebo just proved that this is *not* true. 

See the screen shot on this thread and the information that sellers can see if PP does indeed have their SS#:

https://community.ebay.com/t5/Payments/Managed-Payments-Registration-Requiring-DOB-and-SSN-Reason-to...

and posts #43-44  on this thread for an explanation of how that worked. 

So perhaps some of the posters on this thread who said "I never gave PP my SS#"  were absolutely correct.

[yongscholar]

In reply to: @mam98031

Re: eBay Forcing you to give your checking account with routing number and Social Security number 

"@coffeebean832 is not wrong. Sites like PP, Amazon, MP/Ebay, etc. can't wait until the seller has reached the threshold for a 1099K and then start chasing them for their SSN. That would be labor intensive for the site and if the seller didn't provide it to them in time the site would have penalties to pay to IRS. Which is why IRS wants money processors to collect SSNs up front".

"You will have to add PP and many other sites to that list too. We all had to give PP our SSN back in 2011/2012 when IRS created the 1099K".

For once, I took instructions from a person who seem be offering wrong advice most the time. @wrong66 I Read in detail the provision(s provided by IRS.com After reading chapter, subchapter and verse, not once was I unable to come across any citation provided as guidance a payee is required to surrender their SSN in compliance to a PSE whereby the payee was not being paid by the said PSE under the threshold of 20K or alternatively have not exceed the 200 aggregate number of transactions. 

Folks, what @ mam98031 on behalf of eBay is demanding  The IRS is mute on this issue. Which then leaves eBay at odds with the IRS which may then have to be determined by the courts at the federal level.

https://www.irs.gov/businesses/understanding-your-form-1099-k

However, it should be noted a individual registered as a sole proprietor is required to file Schedule C when required There is a minimum threshold of $400 for paying self employment tax.

https://www.irs.gov/forms-pubs/about-schedule-c-form-104

eBay is attempting to allegedly attempting  infringing on your personal privacy for their own objective. Acquire enough data to control water down the seller and start offering predatory lending products baked into MP

Corporate Raider and Billionaire Carl Ichan once said eBay is the worst run company in the world when it comes to governance. The premise behind his philosophy was "not enough equity is returned  to the investors"

The everyday hard working people who produce and engage in placement on the  marketplace platform you are on your own. Sink or swim.

@ mam98031 contends "That would be labor intensive for the site and if the seller didn't provide it to them in time the site would have penalties to pay to IRS. Which is why IRS wants money processors to collect SSNs up front".

Always, looking for the best interest of the Big Guys!

eBay is privy to their own sales reporting  whereby sales payout are monitored and can determined when the 1099-k are to be remitted. Also, there are guardrails in place. If the payee have reach the threshold and is not in compliance in submitting the required information then a withholding Backup withholding at a rate of 24% may be applied to taxpayers who provide an incorrect taxpayer identification number (TIN) or do not report certain income.

see IRC Section 6050W

What are payee statements and when are they due?

"Payment settlement entities must furnish a “payee statement” showing the information reported to the IRS on Form 1099-K to each participating payee. The statements must be provided by the reporting entity to the payee by January 31 of the year following the calendar year for which the return was made. The first payee statements must be furnished by January 31, 2012".

@wrong66 assignment ver.1.0 completed and submitted to @mam98031 who is found to be inept of conducting any research in order to present  her case and provide the correct information on the community board.

btw @mam98031 where is @Charles please say hello to him still awaiting his response.

Cheers!

mm+B

[mam98031]

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@tealt wrote:

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@mam98031 wrote:

Back in 2011/2012 you were required to give it to PP because of new IRS rules regarding 1099Ks.

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If I've read it once, I've read it 500 times on this board (and elsewhere), that if you are a seller and used PP, "you gave you SS# to PayPal".

Poster Kayzgazebo just proved that this is *not* true. 

See the screen shot on this thread and the information that sellers can see if PP does indeed have their SS#:

https://community.ebay.com/t5/Payments/Managed-Payments-Registration-Requiring-DOB-and-SSN-Reason-to...

and posts #43-44  on this thread for an explanation of how that worked. 

So perhaps some of the posters on this thread who said "I never gave PP my SS#"  were absolutely correct.

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https://www.paypal-community.com/t5/Tips-from-Moderators/PayPal-s-Requests-for-Personal-Information/...

I've got no answers for you on the other thread.  We can't tell if that screen shot came from a PP account of a seller or not.  Or maybe PP simply made a mistake.  I got no answers for you, only questions.

[mam98031]

You need to be VERY careful here.  I do not mind at all if you quote me, but twisting what I've said to be something that fits your agenda is more than wrong, misleading and unnecessary.  I'm pretty darn good at saying exactly what I mean.  I don't need you to interpret my post or throw in extra words when you interpret my post to make it mean something totally different than I said.

"Folks, what @ mam98031 on behalf of eBay is demanding..."  Proof it.  It is common for those that disagree with other posters to often makes such statements in an effort to sling mud and dismiss what the other poster has said.  Instead of using your grown up words and have a conversation, it is easier to try and dismiss someone by spreading gossip about them that has no basis in reality.

You are confusing the requirements for issuing a 1099K and the need for a money transmitter to have the seller's SSN.  While related to be sure, the actual issuing of the 1099K is not the only reason they need the SSN.

I don't know where Charles is.  He hasn't been on the threads for quite a while now, even when I or others have tagged him.

[mach128]

Some people are here to kiss up to Ebay for whatever reason but I assure all Managed Payments is a heartless ripoff and benefits no one else besides Ebay. They fully deserve all the bad publicity and bad rap they are getting online. They destroyed what was good about Ebay and sellers rather than unite and pressure Ebay to reverse dumb changes come here to dispute each other.

i like to speak the truth and Ebay has had number of horrible changes to date - MP is the worst one of all and it destroys online selling as we know it.

Ebay is very stubborn and careless and enough is enough , hope other sites see the opportunity and feeBay pays the price for their greed. This MP would cause the largest exodus of sellers and buyers to date. Look at the numbers, this is already happening. 

[mach128]

They can credit and debit as much as they want as payment processor for your transactions but they want ability to withdraw money without your permission so they have you sign power of attorney  making them part owner of your checking account. Enables them to draw money like chargebacks without your permission.

Scary stuff indeed.

[1tuna]

some peope like to knock MP...................there are plenty of them here

it just means that MP is workign  as intended.....to cull the cant hack its.seprates the wheat from the chaf.

anything that makes it harder for 1 group allows another group to capitalize on it

thats what makes it easy to be a TRS

MP just wont stop sending  me money...............please help me

[mam98031]

@mach128 

Interesting that you see ONLY your viewpoint to be accurate.  And yet not even in MP yet to have any experience with it.

[hurryagain]

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@mam98031 wrote:

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@acrc3113 wrote:

My house address is public record. My SSN is not. Neither is my driver's license #, cc#s, or my old 201 file. If you have ever had your identity stolen, you might understand. My guess is that it has not happened to you, YET.

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MP doesn't always ask for a drivers license.  That is only when they are having problems verifying your account.  Most of us signed up without ever supplying that information.

If you do decide to register, make sure your the name you have your account on Ebay set up under, PERFECTLY matches the name on the checking account you want to attach.  Not even a middle initial or name difference.  They must perfectly match or there will be issues.  If you see there is an issue, it is likely easier to change your Ebay account than it is to change your bank account.  So just do that and then proceed.

And if you don't want to give your SSN, apply for an EIN.

https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-n...

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@mam98031 

Since you are so thorough on your knowledge of many things that are eBay, I thought that you are the best person to ask this...

If we use an EIN, does our eBay account need to be registered as a business account or is it okay to proceed as a personal account?

My selling account is set up as a personal account because I used to only make personal purchases at the beginning.  When I started using that account several years ago as a selling account, I never bothered to put it as a business account.  I have always paid taxes on all of my sales here because I do have a business license in my state so I don't care about the income reporting...I have always done it anyway.

I just want to make the move over to MP as smooth as possible and do not want to run into any snags along the way...there seems to be enough horror stories posted here when things hit a snag.

Thanks in advance!  🏆🏆🏆(remember? - LOL!)

[mam98031]

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@hurryagain wrote:

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@mam98031 wrote:

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@acrc3113 wrote:

My house address is public record. My SSN is not. Neither is my driver's license #, cc#s, or my old 201 file. If you have ever had your identity stolen, you might understand. My guess is that it has not happened to you, YET.

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MP doesn't always ask for a drivers license.  That is only when they are having problems verifying your account.  Most of us signed up without ever supplying that information.

If you do decide to register, make sure your the name you have your account on Ebay set up under, PERFECTLY matches the name on the checking account you want to attach.  Not even a middle initial or name difference.  They must perfectly match or there will be issues.  If you see there is an issue, it is likely easier to change your Ebay account than it is to change your bank account.  So just do that and then proceed.

And if you don't want to give your SSN, apply for an EIN.

https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-n...

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@mam98031 

Since you are so thorough on your knowledge of many things that are eBay, I thought that you are the best person to ask this...

If we use an EIN, does our eBay account need to be registered as a business account or is it okay to proceed as a personal account?

My selling account is set up as a personal account because I used to only make personal purchases at the beginning.  When I started using that account several years ago as a selling account, I never bothered to put it as a business account.  I have always paid taxes on all of my sales here because I do have a business license in my state so I don't care about the income reporting...I have always done it anyway.

I just want to make the move over to MP as smooth as possible and do not want to run into any snags along the way...there seems to be enough horror stories posted here when things hit a snag.

Thanks in advance!  🏆🏆🏆(remember? - LOL!)

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Good to see you back on the threads.  You were gone for awhile or at least I didn't see your posts.  I sincerely hope all is well.

No because you can get an EIN being a sole proprietor.  

https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-n...

Changing your Ebay account to a Business account does not mean you then have to have a business name on your account.  I have my account set up as a business account under my name and SSN.

What is important is that when you register for MP that the name on your Ebay account PERFECTLY matches whatever checking account you want to attach.  If there is a middle initial on one and not the other, make sure you fix that first.  They must be PERFECTLY matched.

I made a mistake when I first registered for MP.  I had my Ebay account set up as my name followed by DBA Crafty Crafts.  But the checking account was not set up that way.  That caused a hiccup.  I went into my Ebay account and took of the DBA Crafty Crafts and all was good.

YES I remember.  You always put a smile on my face, thank you.

@hurryagain 

[hurryagain]

@mam98031 

Thank you SO VERY MUCH for responding and clarifying this for me.  I did "run away" from the boards for a the bit...I've been a busy bee for a bit.  Everything is good - thanks for the concern.

You didn't feel any concern with setting up your MP with your SSN?  I'm just not that crazy about doing that which is why I am getting my EIN today...and thank you for the link too! 😊

🥇

[mam98031]

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@hurryagain wrote:

@mam98031 

Thank you SO VERY MUCH for responding and clarifying this for me.  I did "run away" from the boards for a the bit...I've been a busy bee for a bit.  Everything is good - thanks for the concern.

You didn't feel any concern with setting up your MP with your SSN?  I'm just not that crazy about doing that which is why I am getting my EIN today...and thank you for the link too! 😊

🥇

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No I didn't.  Ebay has a proven track record of keeping the site safe for over 25 years.  Ebay was hacked once in 2014, but the hackers NEVER gained access to any personal or financial information on any sellers.  

Now what I did do, but had nothing to do with concerns about MP, was open a separate checking account to attach to MP.  I now feed all sites I sell on into the one account.  It makes for cleaner accounting IMHO.  I bank with a major bank [BOA], so I was able to set up the account over the phone.  They sent me the signature cards to sign and send back, but my account was active before I did that, so no slow down in registering.

I also do Weekly Deposits.  I like them.  They release the money every Tuesday morning and it is in my bank before noon the next day.  The transfer time can take longer depending on your bank and maybe if it is a smaller more local bank it can take longer.  1-4 days.  

Daily Deposits is what gives most sellers heartburn and objections.  MP only processes transfers on Business Days, so there can be long delays over the weekend, and especially when Monday is a holiday like today.  I do encourage Weekly deposits as it seems to be smoother and without so much of a roller coaster ride watching and waiting for money into your checking account.