ebay ripping off sellers with new payment scam

[direwolf]

I'm glad ebay finally ditched PayPal, but unfortunately they've adopted their illegal tactics. 

I sold an item on Wednesday, they wanted my banking info and I gave it to them.  They said it would take two days to get my funds.  Today (Friday - two days later) I got an email saying that I hadn't filled out the requested info.  This time they wanted new info - info they didn't ask for in the first place.  Then they said it would take ANOTHER two days to get my money - that's Sunday, I can't ship on Sunday.

Meanwhile, my dashboard says I'm late with shipping?! 

IOW, my seller rating will slip because of *EBAY'S* delays.  It's obvious that they're just playing games with the intent of keeping my money in their pocket as long as possible.  

I am not comfortable giving ebay my bank account information in the first place, but I have no choice if I want to sell on ebay.   I have no recourse if I have a dispute with ebay - not only are they are judge, jury, executioner and banker, but they've already got my money in their pocket. 

That's blatant monopoly behavior.  

If you're unhappy with this newest scam, write to your state attorney general's office.  It's not like ebay will change their behavior just because you're unhappy about it.

[veronicabooksandart]

You are correct in that no other auction site has the marketplace depth of eBay. Auction with BIN is great. Still, monopoly or not, someone has to occupy that space. For my part, I just don't see Paypal sitting on their hands in this space much longer - it's not like them.

I'm curious why it's taking so long...
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The alternative is having your data monetized domestically (A&FB) or overseas (all but everyone else).

[mam98031]

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@direwolf wrote:

"Implementing their own payment processing program doesn't create a monopoly"

Of course implementing their own payment processing program doesn't create a monopoly.  It's the other way around.  Creating a monopoly is what enables them to process payments with a program they couldn't get away with in a free market.  That program is, itself, a monopoly: it handles 100.000% of ebay's considerable business. Other providers are unable to compete for that business, which is why anti-trust laws were created in the first place. 

Whether or not they've informed me of their unreasonable rules is moot, the only interesting question is whether the feds let them get away with it. 

I'm still waiting for a list of all these other auction sites which have a market share equivalent to ebay's.  No, seriously - if there's anyone out there who will offer me better exposure and higher profits at a lower price I'll take it yesterday.  As an extra added incentive: I'll stop dissing ebay on their own discussion site.

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@direwolf 

MP is being phased in.  Less that 10% of Ebay sellers are in MP right now.  MP has a goal of having all sellers in MP by the end of the year.  Only time will tell if they make that goal.

And you can continue to wait for a list I won't be providing.  As I stated before most sites that use to do auctions stopped doing them a long time ago because they just weren't working.  Buyers much prefer fixed price listings now.  Which is why the vast majority of listings on Ebay are fixed priced.

You seem to be hung up on the auction portion of the Ebay business when in fact that is a small portion of Ebay's business.

The MP program is a tough change for most sellers.  It is vastly different that we are use to and seem to be the hardest on micro and casual sellers.  I know I much prefer PP but unfortunately my days using them as a seller on Ebay are gone now.

[zunkmahoy]

Anyone - ANYONE - who thinks that their banking information is safe with eBay is a fool!

Giving eBay full capabilities to "mistakenly" clean out my checking account is a non starter.

It's just insane.

[mysticwoodprimitives]

I'm new to eBay and having a problem. I registered and sold two items which I mailed the day after payment was made. There were no complaints. I just sold a third item and the customer paid yesterday. I printed the label and mailed the item today. eBay has blocked my account and wants my checking account information again. I cannot contact my customer and eBay is not showing the tracking number as far as I can tell. I'm not comfortable giving them my account information again. Where did it go and why do they need it a second time?  I can' t  get a straight answer from CS just that they will hold the payment until the item is received and I give them my account number again. Anyone else having this problem?

[kensgiftshop]

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@mysticwoodprimitives wrote:

I'm new to eBay and having a problem. I registered and sold two items which I mailed the day after payment was made. There were no complaints. I just sold a third item and the customer paid yesterday. I printed the label and mailed the item today. eBay has blocked my account and wants my checking account information again. I cannot contact my customer and eBay is not showing the tracking number as far as I can tell. I'm not comfortable giving them my account information again. Where did it go and why do they need it a second time?  I can' t  get a straight answer from CS just that they will hold the payment until the item is received and I give them my account number again. Anyone else having this problem?

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You have been switched to Managed Payments.

If you want to be paid, you have to sign up for Managed Payments, providing a checking account, DOB and the last 4 of your SSN.

[gosimus]

@direwolf 

< Etsy reported a mere $349 million >     

LOL, it isn't every day you see $349,000,000 described as "mere".  

[elanowsky]

I was asked for my bank password,,,I had to give it since I had already waited over two weeks to get paid since I had all kinds of trouble getting verified,,,Anyone else have to give their bank password,,,?  I asked ebay and they stated it was to get access quicker to information,,,??

[caboose_hop]

I TOTALLY AGREE, THEY ARE WORKING CLASSIC WIRE FRAUD HERE. 

I WAS TOLD IT WOULD TAKE 4 DAYS UNTIL I WOULD GET MY MONEY AND ALL SORT OF LIES AND BULL**bleep** FROM THE UNTRAINED CUSTOMER SERVICE LIARS ! THEY "SAY" THY DID IT FOR GET THIS.... SELLER SECURITY, WHAT A LINE ! WHY DO PEOPLE CONTINUE TO SELL ON THIS WORTHLESS DISHONEST SCAM FRAUD SITE, FEDS NEED TO SHUT THEM DOWN NOW !

[mam98031]

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@caboose_hop wrote:

I TOTALLY AGREE, THEY ARE WORKING CLASSIC WIRE FRAUD HERE. 

I WAS TOLD IT WOULD TAKE 4 DAYS UNTIL I WOULD GET MY MONEY AND ALL SORT OF LIES AND BULL**bleep** FROM THE UNTRAINED CUSTOMER SERVICE LIARS ! THEY "SAY" THY DID IT FOR GET THIS.... SELLER SECURITY, WHAT A LINE ! WHY DO PEOPLE CONTINUE TO SELL ON THIS WORTHLESS DISHONEST SCAM FRAUD SITE, FEDS NEED TO SHUT THEM DOWN NOW !

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@caboose_hop 

This is a member to member forum.  Yelling at us [all caps] serves no purpose.

It is likely you simply have a misunderstanding of how the system works and the fact that payouts are sent ONLY on BUSINESS days.  1-2 days to clear a pending payment and then 1-4 days for the payout to arrive at your bank.  However, payouts are sent on the next available BUSINESS day for those on Daily deposits or on the next available Tuesday for those with Weekly deposits.

You can follow all of this in your Seller Hub in the Payments Tab.

[expresstrade***]

At least PayPal would give funds before shipping the item. Now my item is being delivered to the Seller yet I have zero at my bank. That's ridiculous.  From $1400 eBay took nearly $200. So i better stop selling on eBay. Pure rip off and forced to use their service. No alternatives. 

[mam98031]

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@expresstrade*** wrote:

At least PayPal would give funds before shipping the item. Now my item is being delivered to the Seller yet I have zero at my bank. That's ridiculous.  From $1400 eBay took nearly $200. So i better stop selling on eBay. Pure rip off and forced to use their service. No alternatives. 

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@expresstrade*** 

You can pay for your shipping with your MP funds.  The option is on the form for creating the label in Ebay.  Seller choice, pay via MP or PP.

As to your fees, Does that $1400 include your shipping you charged the buyer?

It is likely that your FVF in MP is 12.55% plus 30 cent per transaction fee.

$1400 x 12.55 = $175 on top of that would be the 30 cent per transaction fee.  

[expresstrade***]

Thanks! 
I'll check that option. Still, I don't like shipping items prior having funds in my bank account.

 

[mam98031]

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@expresstrade*** wrote:

Thanks! 
I'll check that option. Still, I don't like shipping items prior having funds in my bank account.

 

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It is certainly something to adapt to that is for sure.  It is new to all of us sellers on Ebay in MP.

Just know that a buyer has NO ability to change, modify or cancel a payment once they made it.  They can't do it in MP anymore than they were ever able to do it in PP.

[brendas1230]

It is a monopolistic tactic.  In short, they are using our money to play the "float" with the banking clearing houses...which they probably own the one they are using.

I've been on the 'bay and PayPal since the beginning (over 25+ years).  When a buyer paid with PP, it was in my PP account in minutes!  When I transferred money from PP to MY bank, it was there in minutes!

It's now been going on a week since I sold some items for the first time under this new B$ scam they have.  "They" say they have sent my money to my bank....really???  Then wth is it?!?!?  At this very instant, ebay shows $0 in my seller account and MY bank does not show a deposit!!  EXACTLY where is my money!!???

A TRUE EFT Direct Deposit is, for all intents and purposes, INSTANT!!  They say "it's a problem with the way your bank processes"... NO, it's ebay playing with your money for as long as they can playing the "float"....when you're talking the amount of money they deal with, that's MILLIONS & MILLIONS of $$ more profit for them while it does nothing but create tension between buyers/sellers due to their scam!!

WHERE IS MY MONEY ebay?!?!?!?

[mam98031]

@brendas1230 

Ebay is NOT a monopoly.  There are lots of similar sites out there to choose from, you just need to do a little research.

NO Direct deposits are NOT "instant".  As MP tells sellers it will be 1-4 days depending on your bank.  I sell on other sites as well as here and none of them have an instant transfer and they all have payment processes quite similar to Ebay's.

Consider this. No one can earn interest on money they do NOT have in their account. So since when payments are Pending the money has not yet been received from the funding source, then earning interest on this money during this timeframe is simply NOT possible.

Once the money clears the Pending Status and moves to Available, it is transferred out to the seller on the next Business day for those with Daily deposits or the next Tuesday for those with Weekly deposits. So when that happens the money moves into the ACH Banking system to which MP has NO control over and the money is no longer in MP so there is no way for them to earn interest of funds they do NOT have. Once the money is transferred the banking system has control of the funds, not MP and the banking system determines how fast your money moves to your bank and your account, NOT MP.