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.

[wrong66]

The banking info that eBay wants is printed boldly on every check you blindly hand or send to someone you've never seen in your life. Your logic is flawed.

[pvcliff]

MP incentivized me to end my secondary selling account. Moved some things over to this account, put some stuff in the garage sale/Goodwill stash. Now I only have to watch the one account. I have expected for years to lose TRS (and for some weird reason I was a Power Seller too), and as soon as that happens I'll change everything to 3 day shipping. I got hijacked into MP a week ago (meaning I was just seeing what info they wanted and as soon as I gave them my last 4 SSN, I was in without even providing a bank account). I made a $70 sale Monday, shipped it Tuesday, got notice on Wednesday that approx $50 was being transferred, Thursday the money was in my bank. I am not unhappy at this point.

[trbl13]

When I joined Paypal I had to give them my Bank Account Information so I could

get Payments from eBay Sales deposited in my Paypal account....

eBay is doing the same as Paypal did...

[dbfolks166mt]

     It will be interesting to see just how the government makes P2P sites like Facebook Market Place and Craigslist issue 1099's when they handle $0 in financial transactions.  Those sites cannot even prove you sold an item only that you listed one. 

     The law as it currently stands applies to third party financial transaction entities like PayPal, Venmo, now Adyen, not sure if applies to wire companies like Western Union. I got a pair of 1099's last year one from PayPal one from Venmo looking forward to the addition of the Adyen one to the pot next year. 

[sales_sales_sales_sales]

Are there even 75000+ Buyers for those necklaces????

LOL!

Thanks for the kind words!

[sales_sales_sales_sales]

But when you give out that check you dont hand over a Power Of Attorney with it!

You also are handing out that check for a 1 Time Payment. Not giving the person that receives the check the legal right to take money out of your account without your knowledge!

[ebabey]

Checking account information is one thing but now they want Social Security numbers (guessing for IRS purposes) which I'm leery about but don't have a problem with. What I do have a problem with is that now they want you to send them a copy of a photo I.D.. They want a copy of your driver's license. I asked about it and what they're saying is that they have to be sure it's really you. Makes no sense. They've never met any of us actually in person to see that the picture on the license is the same person and don't know if it's real or fake. This has gone too far.

[sunrize33]

True, but paypal was a true payment processor while eBay built one in short order and we are seeing many unhappy.  It will basically over time make this place somewhere where cool and unique one-of-a-kind items are gone on the whole as will all smaller sellers who come by collectibles, etc.  The margin is just too low for many and all the extra issues and a look around members whining shows it is on shaky ground,  But what is not seen are incentives from those who want this to happen to have a track record of everything anyone does on line.  And who is to say they will not share your info with their, umm, partners?

[abprintshop]

If your statements are accurate, and I have no reason to believe they aren't, you are saying that there are 10%-20% of sellers not enrolled.  And a "significant portion" of those who havent switched are adult sellers.  So maybe 5%-15% of ebay sellers sell in the adult category?  That seems like a lot of sellers to simply cut off from your platform, no?  

[mr.jcmint]

...I've heard from the same source that eBay was hoping for 4million to sign up in the last 6 months & they only got 400K! This sounds about right to me....

[slippinjimmy]

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@abprintshop wrote:

If your statements are accurate, and I have no reason to believe they aren't, you are saying that there are 10%-20% of sellers not enrolled.  And a "significant portion" of those who havent switched are adult sellers.  So maybe 5%-15% of ebay sellers sell in the adult category?  That seems like a lot of sellers to simply cut off from your platform, no?  

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A "significant" amount might be 10% of the remaining 20% or 2% of all sellers. I have multiple selling id's and still have some that have never been invited (very low volume accounts) and I have never sold anything in the Adult Category.

No matter what, the BILLIONS eBay will make in profits by taking over payments will no doubt far outweigh the loss of Adult sellers. I doubt the Adult Category does anything like the volume it did in the first 10 years of eBay certainly as a percentage of total sales it must just be a shadow of what it once was.

[retro_entertainment_collectibles]

This is the only proper way to sell online, every point of sale you use should have it's own checking account.  Your primary accounts should never be exposed anyplace online nor should your primary accounts ever be used on your PC, Laptop, Tablet or phone buying or selling.

Your worried about eBay getting hacked when odd's are far far far better that your PC, Tablet, Phone etc. gets a key logger or malware on it.  Most folks have no clue how to even setup a firewall on  device.

Use one account to buy online with, thats it.  Only keep minimal funds it that you intend use.  Every place you sell, separate checking account.  Many banks charge nothing in the way of fee's.  Keybank online you can setup in 15 minutes and be working away.

[yuzuha]

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@retro_entertainment_collectibles wrote:

Your worried about eBay getting hacked when odd's are far far far better that your PC, Tablet, Phone etc. gets a key logger or malware on it.  Most folks have no clue how to even setup a firewall on  device.

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Absolutely. One of my good friends works IT and she can attest that probably 99% of what people think are "hacks" are actually the result of either the person having an easily-guessed password or them getting malware/a keylogger on their device, no hacking involved.

[my-cottage-books-and-antiques]

I remember seeing that 80% figure, but I don't think it was clear: it could have meant 80% of all sellers, or 80% of GMV is processed through MP. 

[moondogblues]

"ARMAGEDDON IS COMING!  Democrats brought it to your doorstep!"

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