Ebay intermediate payments announcement

[usedgoodsforsale2021]

I happened to see it on Facebook from ebays business page. 

https://community.ebay.com/t5/Announcements/eBay-to-Intermediate-Payments-on-its-Marketplace-Platfor...

[percgrabbe-0]

I just got done closing a bank account because they took out monthly fees and late fees galore until it was empty.

So pardon me for saying so but no thanks EBAY. No thanks AYDEN.

[penguins_dont_fly]

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Someone pays for my item (be it by credit card or paypal) the money goes into my Paypal account. 

If EBAY stops using PAYPAL after 2023 then what account does the money go into?  Does money from ETSY go into a PAYPAL account? Nope. 

I dont want money going into a bank account where I am charged MONTHLY fees and interest! Most banks today are predatory! 

EBAY will need more info as in they need a place to send the money other than PAYPAL. Thats what I am getting from all this. 

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@percgrabbe-0

How do you get your money out of PayPal?

Where does it go?

[percgrabbe-0]

@penguins_dont_fly the money goes to my PAYPAL  Business Debit and I can withdraw from there. That or I buy something from EBAY using my PAYPAL. 

[percgrabbe-0]

FYI   I feel the need to say this again EBAY sellers are worried I feel its justified too! 

EBAY emailed us all that we will LOSE the protection of PAYPAL and a PAYPAL account after 2023! Of course people are going to be concerned. 

The last changes ebay made drove sellers sales down! Traffic to EBAY is down too!

Maybe I dont want my money going directly into a bank account via AYDEN who the heck asked me if I did? They just told me this is how its gonna be!

FYI all banks charge fees, monthly fees, and like to empty peoples checking if they dont keep a minimum balance. PAYPAL doesnt do that!  They would never do that!

So say you get a LOSER FRAUDULENT BUYER you lose a huge sale EBAy will auto refund them potentially then they take it right from the bank who charges you fees and then closes the bank account on you if you cant cover funds(!)

Then what happens is: YOU CANT TAKE PAYMENTS AT ALL IT COULD REALLY MAKE YOU LOSE SALES!!!!

Once again EBAY doesnt care about the sellers they didnt even ask if we wanted this change!!!

They can dictate how EBAY takes payments sure but it doesnt mean more people will keep shopping on EBAY I suspect the opposite will happen. Especially if there are problems like I just described. 

[mr_lincoln]

@hioctane62

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Interesting but not at all shocking that the announcement was posted 12 minutes after the weekly chat was closed.

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I seem to recall a Weekly Chat was cancelled last year around the time of a certain annoucement ... wish I could remember the subject but what stuck in my mind was the Chat was cancelled for a particular week ...

[dadsfloridatreasure]

One good thing about having Paypal right now is the easy access to my money via the Paypal Debit Card.  If someone makes a purchase from me 2,500 miles away in California, I can go to my local ATM and immediately withdraw cash out, make a purchase at Wal-Mart, pay my utility bills, etc.  This freedom to my own money is unique to selling here on eBay.

I think this is what is putting everyone in a frenzy, me included, is that whatever payment processor they use, is it going to end up holding our funds like they do on Amazon?  I have a friend that is a small time seller on Amazon offering UPC dead stock type stuff there, and he constantly tells me it's difficult for him to use that as a second source of daily income with the hold they put on his money.   

I like the idea of having more payment options for a buyer, that means more opportunity for sellers.  But if they start holding all our money for any amount of time, I'm not going to like that, as the only reason to do so is for them to earn interest income on OUR money.  

[jason_incognito]

let's hope you never have someone buy something from you just to leave you a neg based on what you said here.

Or buy it to get your real name and physical address.

It happens and it has happened to me.

[penguins_dont_fly]

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One good thing about having Paypal right now is the easy access to my money via the Paypal Debit Card.  If someone makes a purchase from me 2,500 miles away in California, I can go to my local ATM and immediately withdraw cash out, make a purchase at Wal-Mart, pay my utility bills, etc.  This freedom to my own money is unique to selling here on eBay.

I think this is what is putting everyone in a frenzy, me included, is that whatever payment processor they use, is it going to end up holding our funds like they do on Amazon?  I have a friend that is a small time seller on Amazon offering UPC dead stock type stuff there, and he constantly tells me it's difficult for him to use that as a second source of daily income with the hold they put on his money.   

I like the idea of having more payment options for a buyer, that means more opportunity for sellers.  But if they start holding all our money for any amount of time, I'm not going to like that, as the only reason to do so is for them to earn interest income on OUR money.  

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I have access to my Etsy funds via my bank ATM card and I can write checks (*gasp* so old school pengy!!!). I can buy anything on any site with my bank Debit Card.

Nobody has said anything about holds or rolling reserves.

[chrysylys]

@b86fiero

1099's should go out from whoever is the payment processor of record.

[jason_incognito]

the tin foil hats around here are ruining my cell reception.

When a buyer pays for your item, the money will go into your EBAY account. You will not have a seperate account with the new provider. They are in the business of processing payments, and do it for places like uber and facebook. I think they know what they're doing.

You now have an ebay account. Soon there will be a new tab for payments that will show you all that. 1 website. No longer will you need to go to another site. All in one.

[wizways]

Adyen/Advil ?

I feel a headache coming on

[jason_incognito]

If I may say this as politely as possible, but if your finances are so precarious that you need to imediately withdraw the $6.99 you just got for selling something, what happens when you get a return?

[readabouthorses]

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You guys are missing the point. Now I am going to need a PAYPAL and an ADYEN account to sell on EBAY? Why? Why do we need two accounts---- just so EBAY can save a few sheckles? The potential sales loss to EBAY is real. 

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NO, YOU WON'T!

You are not the client, EBAY is. Adyen pays Ebay, who places the money in your payment account. If it works like Etsy and Amz, you can let it sit there, or send it to your bank account.

You will NOT need an account with Adyen.

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But I don't have a bank account that they will accept unless they will accept a Savings Account and promise not to move money more than 5 times per month ... LOL. Also they need to promise not to try to go into the Savings Account for money for refunds or shipping labels because my Savings Account will stop them at the door.

[b86fiero]

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@b86fiero

I buy a lawn mower (100 bucks) from wally world, I pay taxes to my state, for a new mower.

5 years later I sell you a used mower for 10 bucks.

There is no tax collection needed.

Your state may be different.

( I need to do 15 years of back taxes... it just slipped my mind... oops )

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Hey Dave,

Thanks for the good deal on the imaginary mower!!  It was still working right?

Now, did you include that imaginary 10 bucks as income reported to the IRS when you filed your federal taxes?   After all, the IRS considers every penny of income as taxable income.     

Just kidding, I'm being facetious.

And yes, I agree, states have different taxing laws and implement them in different manners.  I live in Ohio which has a USE tax which requires all Ohio residents to report and pay sales tax on all purchases made outside the state of Ohio.  And that includes online purchases.

Best wishes!

[tev4all]

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wrote:

One good thing about having Paypal right now is the easy access to my money via the Paypal Debit Card.  If someone makes a purchase from me 2,500 miles away in California, I can go to my local ATM and immediately withdraw cash out, make a purchase at Wal-Mart, pay my utility bills, etc.  This freedom to my own money is unique to selling here on eBay.

I think this is what is putting everyone in a frenzy, me included, is that whatever payment processor they use, is it going to end up holding our funds like they do on Amazon?   

I like the idea of having more payment options for a buyer, that means more opportunity for sellers.  But if they start holding all our money for any amount of time, I'm not going to like that, as the only reason to do so is for them to earn interest income on OUR money.  

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 The paypal money freedom is not unique to ebay. Anywhere you use paypal as a payment processor, gives you that same freedom.

 Ebay members haven't been made privvy to the details of ebay using Adyen processing yet. IF members would wait to read the details. The details will tell the tale.

 I (could be wrong) don't believe Federal  guidelines permit ebay from doing such. Which may be the reasoning behind using an offshore service.

 Releasing this announcement right before releasing the lackluster  2017 4th quarter/EOY financial report, concerns me more.  To ME this is the equivalent of the "Good News, Sellers" approach.