Managed Payments - Forget it

[the_boatwiser]

My family has 4 accounts and will not give out our banking info out so I hate to say it will be goodbye to ebay.  Our only hope is that there will be so many sellers like us that do not want ebay to have more of our personal information than they actually need they will revisit this managed payment nightmare.  If pipelines and government  agencies can get hacked how secure do you feel your banking info will be with ebay???  Think about it.

[wastingtime101]

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@the_boatwiser wrote:

Our only hope is that there will be so many sellers like us that do not want ebay to have more of our personal information than they actually need they will revisit this managed payment nightmare.

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Good luck with that. They've already enrolled huge numbers - something like 80% or 90% of sellers last time I spoke with a Payments team member. A significant portion of sellers that haven't transferred over yet sell in the adult only category which is being eliminated. You do the math.

[luckythewinner]

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@the_boatwiser wrote:

Our only hope is that there will be so many sellers like us that do not want ebay to have more of our personal information than they actually need they will revisit this managed payment nightmare.

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According to eBay's Q1 report, 80% of US sellers are already enrolled. And if the remaining 20% leave, eBay will be just fine - and maybe that will mean more buyers for me. 

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@the_boatwiser wrote:

If pipelines and government  agencies can get hacked how secure do you feel your banking info will be with ebay???  Think about it.

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eBay only has my eBay checking account. Dozens of other websites have my actual checking account.  

[kensgiftshop]

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@the_boatwiser wrote:

If pipelines and government  agencies can get hacked how secure do you feel your banking info will be with ebay???  Think about it.

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You're bank could get hacked just as easy.

[the_boatwiser]

I wish all much luck in that ebay is more secure than sensitive military facilities that have been hacked by many.  My banking info ebay will never have.

[the_boatwiser]

ebay is not secure  enough for my banking info - I  may just opened a new checking account that is only used for ebay that I will never leave a big balance in - hopefully problem solved - we will see.

[kensgiftshop]

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@the_boatwiser wrote:

ebay is not secure  enough for my banking info - I  may just opened a new checking account that is only used for ebay that I will never leave a big balance in - hopefully problem solved - we will see.

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That's what some have done, open a new account just for MP.

[veronicabooksandart]

Trustly has your eBay checking account.
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eBay got you to waive professional secrecy rights and give Trustly carte blanche with your data.

[katzrul15]

That's what we did as well - opened a new, separate stand-alone online checking account.  Several months now (since Nov) - so far, no issues and we sweep most of it at the end of the month.  Good luck!

[inhawaii]

Why do people think they are so "special"?  Ebay, a 6 billion dollar company is out to get you. They want to steal the $529 dollars in your checking account. 

[bitseeker]

Setting up a dedicated checking account for eBay use is the best solution. If you still feel that your deposits in the checking account are vulnerable to eBay access, periodically transfer the balance to a savings account that isn't connected to eBay.

[lamber9347]

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@the_boatwiser wrote:

ebay is not secure  enough for my banking info - I  may just opened a new checking account that is only used for ebay that I will never leave a big balance in - hopefully problem solved - we will see.

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That is EXACTLY all that you need to do, no big deal. Etsy uses the same exact principal as MP and other websites do as well. This isn't just an eBay alone system as others mistakenly say, Adyen has been around for some time and is used by many other companies. 

To clarify any website can get hacked, anywhere you have private personal info such as your regular bank, your DMV records. your mortgage accounts, your credit card accounts, your courthouse with your records, your in home security cameras. etc. 

[inhawaii]

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@bitseeker wrote:

Setting up a dedicated checking account for eBay use is the best solution. If you still feel that your deposits in the checking account are vulnerable to eBay access, periodically transfer the balance to a savings account that isn't connected to eBay.

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That makes too much sense.   😉

[adrhdi0]

There're lots of sellers here did that. So not only you worry about that issue.

[dbfolks166mt]

     I agree 100% I have separate checking accounts for each forum I sell on to reduce my risk if one account gets hacked it's much easier to deal with that problem than it is to have to deal with all the issues that would have to be dealt with if everything was tied to one account. I also find it makes accounting a WHOLE lot easier for tax purposes. 

     I periodically transfer funds from the individual accounts to a centralized account which is used to finance investments in other areas and markets.