mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@readabouthorses wrote:
@mam98031 wrote:
@vintagewinecollector wrote:No, it was from before in 2018, but there has been nothing to change that, so I am not sure what the issue is.
The Only issue I had was you and another poster had said Ebay announced the contract that same day when the fact is it was 2 years ago that they entered into that contract. And your closing remark on the other thread that I did not copy into this thread.
It was in the press release from January 31,2018 in the Ebay News under Payments section:
Additionally, eBay and PayPal have aligned on terms to offer PayPal as a way to pay at checkout on the eBay intermediated model until July 2023. PayPal will remain an important partner to eBay.
Thank you, I am aware of those facts. Now the other poster is as well.
@tangil wrote:The problem I have with giving my bank account numbers to EBAY is the fact that they say it is secure but so many times someone or scammers get into the system and get those numbers. And then, your accounts are wiped out. With PayPal, they are using my credit card for selling and buying and it is safe since you cannot be charged for someone using it without your authority. I may go with Craig's List or Facebook for selling instead of EBAY. Unless EBAY changing it requirements and allows you to use a credit card for selling.
When? Please provide details as that should be big news. Ebay was hacked ONCE in 2014 and no financial data was lost or compromised. Don't confuse individual members getting their accounts hacked verse the entire site. The two just aren't the same.
Late spring this year my PP account was hacked. Not the entire site, but my account was. That is absolutely scary stuff.
Ebay has been around for 25+ years now. They have shown they are capable of keeping our financial info safe as they have had back up funding sources and auto payment information on the Seller invoice on file for many years for members.
If you don't want to transition to MP, that is completely up to you. But you don't have to come up with any reason to justify not transitioning, it is all your decision to make. The reason you outline here is no reason to not go into MP as the same holds true for PP and any other site that has your information.
@mcr8942 wrote:i'm pretty much done with ebay as far as selling, there is no way that i'm about to link my checking account online. i don't care how safe it may seem, too much security breach these days
What many of us do is set up a separate checking account to attach MP to. I've had one for awhile now. I sell on three sites. I have them all linked to this one checking account. It works great for me and makes accounting for the sales much easier and without mixing it up with my personal checking account. I highly recommend it.
@lowell888 wrote:So seller's will no longer have payments from buyers going into a PP account. Instead, the payments will go into the seller's checking account.
Buyers will be able to pay for Ebay purchases with PP for another couple years. Then the buyer's payment method will probably be a cc.
Is my [brief] summary correct, as far as we know right now?
Thanks
Close.
The buyer's payment, no matter the method they may use to make the payment, goes into the seller's MP account. 1-2 days later that payment will clear and become Available for the seller. That money will then transfer to the seller's bank account on the next Business Day if they are on Daily deposits, or on Tuesday mornings if they are on Weekly deposits.
Once MP makes the transfer it goes into the ACH banking system. From there it is no longer in the hands of MP but the banks. How long it takes that transfer to actually land in your bank will depend on the banks. For me, I do Weekly Deposits and my money is in my bank before Noon on Wednesdays, I do bank with a large bank. For those using smaller more local banks it may take longer. 1-5 days.
@raven-otis wrote:this sucks..... been with eBay and PP for as long as they have been doing their thing.... time to leave. Who's going to make sure I get reimbursed if I don't receive an item or have and issue? The money will be in someone else account. eBay going to reach in the bank account and get the money? What if there isn't any funds? Sounds like poo to me.
What are you talking about? Why would MP send your money to someone else? Clearly there are some misunderstanding as to how this process works.
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