Ebay Switching from PayPal to Direct Payments using Bank Accounts?? RIDICULOUS!!!!

[nm04085]

OK, Is this for real? Ebay seems to be ditching Paypal for sellers and wanting to use my Bank Account to manage payments. Ebay wants my Bank Account information???  Forget IT Ebay!!! I am NOT (repeat NOT) giving you my Bank account info to manage my payments!!   I have been perfectly happy with payments being made thru Paypal over the years and if ebay cannot continue this then I will move to another platform.  

Please respond if you are in agreement!

[dhbookds]

They need your bank account info that is on your check.....to deposit YOUR funds in YOUR account....

The same info that's on your check that you hand over to everyone and their brother if you are trying to pay for something......

[luckythewinner]

Please respond if you are in agreement!

I am in agreement - if you do not provide a checking account for your eBay payments, then eBay will not allow you to continue selling here.

[mrdutch1001]

eBay has given its sellers nearly 3 years of advance notice that Managed Payments would be the payment system here...PLENTY of time to plan your course for online selling going forward.

Adjust, adapt and carry on OR move on and go elsewhere!

[div_style]

Checking accounts are 100% free at my credit union, so I opened another one just for eBay to send payments to, then I transfer funds (no fees for that) to my main checking account.   I've been in MP for over 2 years with no problems other than a day or two delay occasionally, but not a penny lost.  MP does not mean the sky is falling, but if you can find a sunny day elsewhere, good luck there.   Personally I like logging to my CU account and finding new money there regularly.

And, BTW, my eBay fees, for the store in MP, are very nearly the same as before with PayPal.

[kensgiftshop]

@nm04085 

It's been real for about 3 years, when they first told us, they'll be switching from Pay Pal to Managed Payments.

[forsicaw]

It's not just your BANK ACCOUNT, but your SOCIAL SECURITY Number TOO!!! That is a recipe for disaster if you are a small seller. My four accounts will become dormant as soon as Ebay catches up to them.  After 20 years of selling, it is coming to an end. Just the new Seller Hub format alone was enough to almost drive me away!!

And I don't care if they told us about it 10 years ago or yesterday, there would still be no other options for us without providing crucial and private banking and personal information. Good luck to those who choose switch over.  

Let's see where Ebay is 5 years from now...

[releasethekraken_1]

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@nm04085 wrote:

OK, Is this for real? Ebay seems to be ditching Paypal for sellers and wanting to use my Bank Account to manage payments. Ebay wants my Bank Account information???  Forget IT Ebay!!! I am NOT (repeat NOT) giving you my Bank account info to manage my payments!!   I have been perfectly happy with payments being made thru Paypal over the years and if ebay cannot continue this then I will move to another platform.  

Please respond if you are in agreement!

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OK, bye. We're better off not dealing with sellers who are 3 years behind on what's happening.

[mtgraves7984]

It is for real. I opted into Managed Payments during August, 2019. Happy to report nothing nefarious going on.

The choice to stay is yours... but good luck to you in the future, either with eBay on another platform.

[itsjustasprain · Accepted solution]

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@forsicaw wrote:

It's not just your BANK ACCOUNT, but your SOCIAL SECURITY Number TOO!!! That is a recipe for disaster if you are a small seller.

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It is not. Please get a grip. I am a 'small seller' here and they have known my Social Security number for years. At my age this site is about the 263rd place to learn my SS number over the past few decades.

As for the bank account - just get a separate standalone account from any bank or credit union so that it will be isolated from your personal account. There are plenty of fee-free options out there.

[maxine*j]

eBay announced this three yerars ago and has been steadily migrating all sellers to Managed Payments, as it said it would.   In addition to all the information from eBay itself, there have been a thousand or more threads on the subject on the various eBay forums. 

Every other major on-line marketplace, in the USA and around the world, uses a version of MP. 

On-line bank accounts are free and easy to set up and, anyhow, it's always prudent to separate your personal and business finances.

=

[johnrj1226]

Think you  gave PayPal your checking account when you signed up with them.  I did.  PayPal wanted some  security  if you PayPal debit card did not  have sufficient funds to cover buyer returns, eBay monthly fee statements, etc.

[iart]

I'm sorry. The window for complaints about Managed Payments ended a month ago.

The current and appropriate complaint subjects are now scammer gift cards and not-as-described returns.

Thank you.

[johnrj1226]

PayPal had you social security number too.  They needed it to sent you a 1099Kif you met therir  needs.

[bearswatching]

You may have a little problem finding another platform. This policy is not just for eBay but all online sellers. Someone in D.C. finally woke up and realized millions of dollars in unreported income was keeping them from wasting  it on useless fun stuff. Not to mention that it’s always been the law to report ALL income. You might want to redirect that stress and anger and hope/pray they don’t decide to make it retroactive.

BTW, if you are this paranoid about your ssn number being used for nefarious purposes by eBay why not just freeze your credit report.? It’s free for all Americans. We did this at least 25 or 30 years ago. I can only recall 2 attempts by someone to open an account in our name and it was instantly denied. It involves a password and a PIN.