New policy on payouts for selling!

[slydog5007]

The new policy for me to give eBay my bank account information for payouts is ridiculous! I use PayPal just so that I don’t have to give sites like this my bank account information! Customer Service Rep Anthony said “The reason is because we split from paypal and started our own payment processing to better assist our mbrs in house” but I can use my PayPal to buy. eBay always seem to be doing something shady like putting payouts on hold but charging you a invoice and pulling the money before you get paid for what you sold. To me it’s worth the 2% to have PayPal and not have eBay access to my bank Account! No selling for me here anymore! Like and comment on this post if you agree! 

[chapeau-noir]

---

@slydog5007 wrote:

The new policy for me to give eBay my bank account information for payouts is ridiculous! I use PayPal just so that I don’t have to give sites like this my bank account information! Customer Service Rep Anthony said “The reason is because we split from paypal and started our own payment processing to better assist our mbrs in house” but I can use my PayPal to buy. eBay always seem to be doing something shady like putting payouts on hold but charging you a invoice and pulling the money before you get paid for what you sold. To me it’s worth the 2% to have PayPal and not have eBay access to my bank Account! No selling for me here anymore! Like and comment on this post if you agree! 

---

Go do the Payments forum and you'll find about a million posts dating back well over a year complaining about this.  You're a bit late to the party, but you'll find plenty of information there.

[slydog5007]

Last item I sold before now was in Nov and I was able to collect my fund through PayPal. Only now have they tried to force me to give this info to collect my funds for a sale.

[slydog5007]

They also do not want you to have a buffer between you and them. So if you have a dispute with them you have to accept whatever they decide and have the freedom to pull your your money with no chance of getting it back. No thanks!

[soh.maryl]

eBay started announcing this change about two years ago, and then reminded us fairly frequently.

There are some sellers who have been in MP for a year or more.

[releasethekraken_1]

---

@pcobra93 wrote:

Ebay was not really "forced" to sell PP off.....unless you call the pressure from Ichan and Buffet "pressure". The ironic part of it is that PP is now worth 100 times or more than Ebay is.....

---

Actually about 7 times more. But as you say, much more valuable.

[mtgraves7984]

---

@slydog5007 wrote:

Again if they had my bank account information why ask for it? Also why would I have the need for a dedicated checking account when I only sell a couple items a year? 

---

@slydog5007 

I'm a small seller. For what it's worth, I opted into MP during August, 2019 using my decades-old personal bank account.

[slydog5007]

They are forcing/bullying people into doing this so that there is not a buffer between you and them. If you have a dispute with them they are always right and will pull your money, so you lose! No chance of getting that money back. There is no reason we shouldn’t not have a choice in service providers. I know I don’t want to deal with a bank every time there is a dispute. 

[soh.maryl]

No one said you had the need for a dedicated checking account.

It's just that some sellers have found it easier to keep track of their eBay income and outgo when it's not mixed in with their everyday checking account income and expenses.

[rustyknight]

I just spent OVER AN HOUR...having my time wasted by the Phillipines call center (or...wherever they were) and, even the US trying to rescind my switch over from PayPal to my bank. I regret having fallen for the seductive offer to improve my payout experience. It's not an improvement...it's only better for eBay.

I see that I too, am going to have to stop selling on eBay...this new policy is completely unacceptable, slower, more expensive.

In short...SCREW YOU EBAY!

[releasethekraken_1]

---

@rustyknight wrote:

I just spent OVER AN HOUR...having my time wasted by the Phillipines call center (or...wherever they were) and, even the US trying to rescind my switch over from PayPal to my bank.

---

You can't rescind it. You wasted your time trying.

[hioctane62]

I totally agree. eBay has proven themselves to not be trustworthy. Without the past 10-12 years of eBay's anti-seller policies, I would be totally onboard with managed payments. I hope all of you who signed up realize that eBay WILL be raising their processing rates. This isn't about saving you money lol. eBay is in trouble, they know it, and they expect YOU to bail them out.

[slippinjimmy]

---

@hioctane62 wrote:

I totally agree. eBay has proven themselves to not be trustworthy. Without the past 10-12 years of eBay's anti-seller policies, I would be totally onboard with managed payments. I hope all of you who signed up realize that eBay WILL be raising their processing rates. This isn't about saving you money lol. eBay is in trouble, they know it, and they expect YOU to bail them out.

---

Yeah they were only "trustworthy" from 2002 to 2015 when they owned 100% of PayPal. After July 2015 they suddenly because untrustworthy.

What sort of "trouble" is eBay in? Perhaps you should review the Q1 earnings release from a few hours ago.

https://ebay.q4cdn.com/610426115/files/doc_financials/2021/q1/Exhibit-99.1-ER-eBay-Q1-2021_FINAL.pdf

Here are some of the key points:

First Quarter Financial Highlights

•Revenue was $3.0 billion, up 42% on an as-reported basis and up 38% on a foreign exchange (FX) neutral basis.

•Gross merchandise volume (GMV) was $27.5 billion, up 29% on an as-reported basis and up 24% on an FX-Neutral basis.

•GAAP net income from continuing operations was $569 million, or $0.82 per diluted share.

•Non-GAAP net income from continuing operations was $758 million, or $1.09 per diluted share.

•Generated $938 million of operating cash flow and $855 million of free cash flow from continuing operations.

•Annual active buyers grew by 7%, for a total of 187 million global active buyers.

•Annual active sellers grew by 8%, for a total of 20 million global active sellers.(1)

Business Highlights -Revenue Initiatives

•eBay continues to scale its management of payments globally, with over 52% of global on-platform volume processed through managed payments during the quarter. The company exited Q1 with over 4 million sellers migrated globally and over 80% of the payments migration completed in the U.S. eBay also launched the new experience for sellers in France, Italy and Spain.

•As a result of the managed payments migration, eBay simplified checkout flows and reduced unpaid items by approximately 80% on fixed price transactions during the quarter.

•Promoted Listings delivered close to $224 million of revenue in Q1, up 64% on an as-reported basis and up 58% on an FX-Neutral basis.

[chapeau-noir]

---

@slydog5007 wrote:

Last item I sold before now was in Nov and I was able to collect my fund through PayPal. Only now have they tried to force me to give this info to collect my funds for a sale.

---

That may be, but this has been rolling out for a couple of years now, and if you want information go to the Payments board and you'll read all kinds of pros, cons, etc., plus a bunch of pinned threads explaining various aspects.  It's better to have the facts - there is so much hysteria and misinformation/disinformation about this that needs to be ignored.  It's fine not to like the whole idea, but it's better to have real reasons, not just fear of change.  Did you get an email telling you to enrol in MP in order to continue to get funds?  They're not hand-holding with this, it's switch or quit.

[hioctane62]

eBay became "untrustworthy" right around 2008, and all of us who have been here since before then know that. You can deny it and defend all you want, it doesn't make it any less true.