Forced Managed Payments

[scarlett0214]

Why are sellers being forced to accepted Ebay's flawed "Managed Payments," or stop selling.  I've been on ebay 20 years and now am not allowed to sell unless I opt into managed payments.  Why would anyone give all their personal financial information to ebay?

[fashunu4eeuh]

PayPal collected the same information as eBay does now for their new payment processor Adyen. The IRS requires this info on all sellers. It is the law driving this wagon, not eBay.

[inhawaii]

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@scarlett0214 wrote:

 Why would anyone give all their personal financial information to ebay?

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They don't want ALL of your personal financial information. They just need to link to checking account. If you're not comfortable linking to one of your current checking accounts, you can open up a free checking account online.  It takes 5 minutes.   

[readabouthorses]

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@inhawaii wrote:

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@scarlett0214 wrote:

 Why would anyone give all their personal financial information to ebay?

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They don't want ALL of your personal financial information. They just need to link to checking account. If you're not comfortable linking to one of your current checking accounts, you can open up a free checking account online.  It takes 5 minutes.   

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Where are you finding these wonderful free checking accounts you can open online? I'm helping a friend who is trying to get prepared before she gets pulled into Managed Payments and every online checking account she's come across requires she have a cellphone/mobile app (she's doesn't have a cellphone and neither do I so we are sort of stuck). Everyone keeps plugging these wonderful free online checking accounts but we can't find them! Help!

[toysaver]

EBay needs to be as profitable as possible.  They are a business like no other and responsible to shareholders, employees and the people that use the platform.  I doubt the decision was taken lightly. 

For my business to suceed I need eBay to be as sucessful as possible.  I'd rather they implement Managed Payments than increase the percentage they take from sales.  I didn't give them all my personal info, just access to a checking account I opened just for them. 

[farmalljr]

If you want to SELL here, those are eBay's rules. Either get with it or move on. When you sell, you are conducting business, even if you are only selling a few items. You ARE a business in the eyes of the IRS and the law. SO, you have to conduct your business in a proper, legal way.

The information eBay requires, is simply a requirement that is forced on them. They have to report/record your sales, and they need a place to send your money. Don't like it? Have a yard sale. But you won't be selling here without doing it properly. 

I can find no empathy for people complaining about it. This is a regular and usual thing, all businesses have to do. Far too many people, for far to long, have wanted profits like a business, but to Al Capone on their taxes. And while their are some people who generally are clueless and think MP is somehow less safe then PayPal, as far as information is concerned, the majority of complainers are more worried about not being able to hide money they owe for income taxes. 

There are probably hundreds of these same threads, whining about having to submit to MP. It gets old..... If all one can do is whine about it, why say anything at all? Just leave if you can't get along with it. It's not going to change. The decision is made and eBay is not going to backtrack on it. That ship has sailed. 

[1tuna]

they do it because they dont want the money machine to stop rolling

ebay is a money making machine.once the money starts to flow it cant be stopped

ebay sends me money without me asking for it......its tough but I can put up with it

[greek38]

ebay did both, they forced managed payments and increased selling fee's.  

[releasethekraken_1]

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@readabouthorses wrote:

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@inhawaii wrote:

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@scarlett0214 wrote:

 Why would anyone give all their personal financial information to ebay?

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They don't want ALL of your personal financial information. They just need to link to checking account. If you're not comfortable linking to one of your current checking accounts, you can open up a free checking account online.  It takes 5 minutes.   

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Where are you finding these wonderful free checking accounts you can open online? I'm helping a friend who is trying to get prepared before she gets pulled into Managed Payments and every online checking account she's come across requires she have a cellphone/mobile app (she's doesn't have a cellphone and neither do I so we are sort of stuck). Everyone keeps plugging these wonderful free online checking accounts but we can't find them! Help!

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So you are finding them, but you can't use them because you don't have a cellphone that can use their app. That's an entirely different problem, and I haven't seen a solution for that one.

[luckythewinner]

Why are sellers being forced to accepted Ebay's flawed "Managed Payments"

Because eBay is tired of watching $3-$5 billion in fees each year go to PayPal instead of to eBay. For comparison, eBay's net income for all of 2020 was about $5.7 billion. 

Why would anyone give all their personal financial information to ebay

You do not have to give eBay "all your personal financial information". You just need to give then one bank account number of your choosing. I created a free bank account online in about 15 minutes. 

[scarlett0214]

1) What new Law?

2) You won't be 1099ed until a certain threshold.  I keep track of my income and expenses and include them on yearly tax returns.

3) There is no law "driving ebay" to ask for the routing number to your checking account.  The amount of information they are demanding is absurd.

4) Checking isn't free.

5) It's a **bleep** way to treat long term sellers.

[scarlett0214]

Without Ebay's help I pay my taxes, really quite simple:

Profit - expenses + end of year inventory

I opened up a discussion, not a mud slinging contest, abuse & accusation are not appreciated.

[kinnickinnick1963]

Maybe if they were retarded, they might decide to give their SSN and keep selling here?  It will soon be impossible to find the rarest items due to seller mass exodus.

[yuzuha]

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@scarlett0214 wrote:

4) Checking isn't free.

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Sure it is. If yours isn't, find a better bank. There are plenty of banks that offer free checking.

[scarlett0214]

That's redic. 

In most cases, checking isn't free, nothing is free.  Under the rules for managed payments the  information that you give ebay, which goes to a third party is more than enough for identity theft.  Additionally, ebay claimed it was managing payments, not a third party.  You could easily be ripped off by customers, and have to send merchandise before receiving payment.  All in all it's a horrible idea and a **bleep** way to treat sellers, especially long term sellers.  I've not spoken with anyone who is doing managed payments who speaks favorably.

Ebay stores are businesses within a business but sellers are losing the right to manage payments and ebay can reach in and refund no matter how redic. the claim and I read a post where a person sold a 1,000.00 smart watch, the sellers payment was being managed, the buyer retracted payment before receiving merchandise, had filed claim,  and was refunded also, so, the seller lost the sell, had to pay for the item as the $$ was taken from their account, (money they had not received) and the buyer kept the watch.  That's  bad business.

I think it's difficult for people picking up junk from garage sales to understand that other sellers actually pay a hefty price for the quality new merchandise they sell.