mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@badgerboy2022 wrote:It was 1913 when the gubbemint went broke and the Federal Reserve was created by the rich bankers.
Then FDR made gold illegal. Then your current Reps made laws to invade your privacy and squeeze more out of you. But you voted for these thieves and continue to do so. Sheep be sheep. Continue on.
So insulting, just because someone has a different point of view than you do. How juvenile.
@coastaltechsolution wrote:No it means you will not be paid through Managed Payments.
PayPal is out of the picture now as far as a payment processor for sellers.
Not for all sellers. Ebay is phasing in MP. So there are still millions and millions and millions of sellers that are actively using PP as their money processor.
@coastaltechsolution wrote:While true, PP no longer holds the contract with eBay as the official payment processor and MP is the future of eBay sellers
Not sure how much that matters. The contract that ended in June of 2020 was the contract due to the two companies splitting. It wasn't just a contract to ensure that PP would process payments on Ebay, it was so much more to include restrictions on PP from Ebay about non compete in certain areas and other sites. It was a mixed bag.
And there is a contract with PP though 2023 that ensures that PP will be offered to both buyers and sellers [those not yet in MP of course] through 2023.
But even if their weren't, PP isn't just going to abandon Ebay because MP is coming on board for most if not all sellers. PP makes a good amount of money even if they just service the buyers. And Ebay isn't going to take that away from buyers because there are too many buyers that use PP exclusively. So keeping that available is a win win for everyone.
@pjsalerno wrote:So let me get this straight. We already paid income tax on the funds we originally used to buy a new item. We also paid state and local sales tax on that item. Months or years later when we sell the same item for much less than we originally paid, those funds are taxed as income? "Posts by people who are trying to avoid paying their share aren't really all that popular." We have already paid our share, wake up.
Pretty much. But your issues should be taken up with IRS as Ebay is just following the laws and regulations which they are required to do. Ebay isn't going to change this to better suit your needs and risk legal trouble because of it.
@usdanie.bs0jci wrote:They do it for taxes but can also send a report to your credit agency if you owe money. I think I'm not selling on here anymore I don't like giving out my information especially my SS to a company that I can't trust to securely protect that information.
- 2013 Data breach
- Plus company like Paypal and this new eBay payment falls in a gray line they are not a bank so they don't fall under bank rules. This gives them the right to set their own rule without any oversight.
A simple Google search would show you that you are incorrect.
While Ebay was hacked around March of 2014, ZERO account information was breached and ZERO financial information was breached or lost.
Ebay has NEVER had the site compromised for account info and more specifically financial information. So your objection or concern isn't accurate for how Ebay secures the site.
Now individual accounts get hacked from time to time on both Ebay and PP. That is NOT a site issue but an individual issue and there can be many reasons for that intrusion. My PP account was hacked in April 2020. Pretty scary stuff to be sure. PP worked very well with me to resolve the issues and get my account back in good order.
You are also correct that Ebay is Not a bank. But then again NEITHER is PP. It isn't a "gray" area. Money transmitters like MP and PP aren't required to be a bank.
"This gives them the right to set their own rule without any oversight. " This is also incorrect and there are lots of rules and actual LAWS that both MP and PP are REQUIRED to comply with both Federal and State. And NO they can't just do anything they want.
