mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@steelergal62 wrote:It appears that Ebay is eliminating Paypal, keeping that fee and becoming a payment processor/banker. They are demanding the same information as any other payment processor. Sellers should be able to choose their own payment processor.
"Everyone has options." That's just it - there is no option. It's give your SSN and banking details to yet another big tech company. Or else. You have no idea (or assurances from ebay) that your info will be kept private and protected. Or, that it will not be used to fatten their coffers like the other big tech companies selling what they know about you.
Maybe Ebay hasn't been hacked yet because there is no financial gain/ point in doing so. But, as a banker, they will be much more vulnerable to hacking or employee misdeeds than before. It is just a matter of time until they are breached like so many other stores and businesses.
IMHO, it should be optional for sellers to participate. Sellers who want it can sign up. Sellers who do not can continue to do business on ebay as usual. A little sensitivity here would go a long way.
Ebay is NOT "eliminating" PP. Yes they are have become the money processor, but PP is still available to sellers not in MP and for all buyers even after all sellers are in MP. Similar to what all the other similar sites to Ebay have done over the years. Ebay was the last of the bigger sites to move this direction.
Sellers have no ability on any of the bigger sites to "choose their own payment processor". Now on smaller sites, there are still some of those that allow for this. And that may be an alternative for some. If the traffic you can get on those sites work for you, then it is certainly an option.
"You have no idea (or assurances from ebay) that your info will be kept private and protected." This is an assumption that is simply not true. Do your research.
https://pages.ebay.com/payment/2.0/terms.html
https://pages.ebay.com/securitycenter/index.html
EBay has had financial information on many sellers for many years. All sellers have the ability to enter a back up funding source, often a credit card number and they can designate an auto pay source for our Monthly Seller Invoice. So again, you make an assumption.
Ebay's site, Ebay's rules, just as it is on all the other similar sites.
@marks2020 wrote:I agree with many of the above opinions:
I DON'T WANT the new eBay "MP" payment method.
For security reasons, I don't want to give this info to eBay:
Bank account info.
SS number
Picture of my drivers license.
I want to simply stay with using Paypal. How can I do that?
Once Ebay has notified you that it is time for you to move into MP, you have a choice. Enter MP and continue to sell on Ebay or don't enter MP and stop selling on Ebay. Hopefully you will seek out and learn the actual facts of the program and not the assumptions that many have made on this thread and others so you can make an informed decision on what is best for you. Good Luck.
@rmbeavers wrote:Actually, eBay is indeed "eliminating PP". At least for sellers it is.
You are incorrect that PayPal is still available to sellers. Once you opt into the program, PayPal can no longer be used when you sell items for money transfers. I received an e-mail today saying "FINAL NOTICE: Update your account details today". I have until Feb 1st to enroll in the program (i.e. upload my bank information, birth date, etc.) and STRICTLY USE eBay for accepting buyers payments (no matter if they pay through PayPal or whatever, the seller receives the money via eBay's MP). So it is definitely eliminating PP
The two are not the same. My comments previously about PP is correct. Ebay is NOT "eliminating" PP, which is what you previously stated without qualification.
I am not incorrect. While I am in MP I can still use my PP account. Certainly not in the same way I use to and not as my money processer for the most part, but I can still use it.
As a buyer I can use it as much as I'd like. As a seller on other venues I can use it if the venue allows it [only a few do] and more specifically to for Ebay, I can re-invoice buyers through PP in a particular situation that Ebay has no vehicle to do so inside of Ebay. If I refund a buyer because their item did not arrive and it arrives at a later date, the buyer wants to keep the item, I can invoice that buyer through PP and the buyer can pay the invoice. The money goes into PP. Ebay knows we do this and can do this. At some later date I'm sure Ebay will come up with a way for us to do this inside of Ebay, but right now we don't have that ability.
Your birth date should already be on your account. That is part of the initial sign up because we all must be 18+ years old to be a member on Ebay.
The initial registration requires your SSN, EIN or TIN, your bank routing number and your bank account number. Before you provide that make sure your name on your Ebay account PERFECTLY matches the name on your Checking account. If they don't, fix one or the other BEFORE giving the info to MP. Otherwise you will cause yourself issues with the verification process which can take a while to work out.
@femmeappeal wrote:Thanks for fact-checking this thread as it progressed. I had sort of ignored these MP notices, because I was about to separate the joint accounts my mother and I shared when we shared a house, and I wanted to wait until all that was done. The flow of presumption followed by clarification answered all of my MP questions in a reasonably short read. I appreciate the help.
Though, I wish I'd realized that a whole new checking account was going to be advisable for this, because part of my banking changes involved creating a new one less than a week ago. I imagine that if I submit an online application for yet another checking account right now, without going directly through the same banker we sat down with last week, the app is going to get some side-eye. 🙂
It isn't necessary unless it is your preference. I personally like it because it makes accounting so much easier. Not mixing personal with business. I sell on three sites, so I run all three sites into the one checking account. It works very well for me. I then transfer out to my personal account as I need to.
FYI, I set up my account over the phone. I never went to the bank at all nor did I have to go to an app or website. They sent me the signature cards and anything else they needed a paper trail on. It was so simple. I bank with Bank of America.
I don't think your bank would think it is strange if you needed another checking account. Just tell them you are trying to keep things separated for your own accounting purposes. You don't have to tell them it is for online selling or anything. They don't care as long as you are in good standing as a customer.
I'm glad I was able to help you. Please feel free to ask me anything anytime you come across something you need a little assist with. You can find me here or you are always welcome to drop me an email.
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