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ebay's new Managed Accounts

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Rex TX

Titanium
Joined
Sep 20, 2004
Location
Fort Worth, Texas
I know a lot of you sell your extra tooling on ebay. I do as well, though I usually post here first.
So now ebay has decided I need to give them access to my checking account and my SSN. This is just a hobby thing to me, selling the things I no longer am interested in, so no tax implications.
The few issues I have had include one last year when a buyer (machine shop owner in Illinois), after receiving the tooling refused payment via his credit card, and ebay sucked it out of my Paypal account, with no recourse. I am hesitant - to put it mildly - to allow ebay the same access to a bank account.

I am perfectly happy using Paypal as always, fees and all. That will no longer be possible after Feb 1.

Anyone else have an issue with this? Am I being overcautious?
 
100% agree. You're not being overly cautious, you're being a free thinkig human.

I received the same email....and my thought was simple...no more using Ebay. There's no way on Earth I'm giving those jamokes (who are liberals, BTW) access to my bank account. End of story.
 
There’s no chance I’d give ebay or any other company direct access to my bank account. In my opinion ebay is not a viable option to sell, and is only occasionally ok to buy on. Too bad as ebay was very useful to me 10-15 hears ago.

L7
 
I'm in the same situation, only at slightly more than a hobby level. What I have done is setup another bank account, not tied to main accounts. My plan is to keep using ebay for now, but I need to setup my own e-commerce website, then have web address in background of all pics. Over time I may reduce warranty offered on ebay, give better warranty and lower prices on website. No idea if this will work, gotta try something.
 
Hell would freeze over before I gave eBay or Paypal my bank info. If you use a different account it should probably be with a different bank than your main accounts. And be careful with your credit card limits if they have that. Just because you're paranoid doesn't mean they're not after you!
 
Do we know this email came from Ebay? I got it too - There's no seller ID, no name, no other identification, just a "log in here" link. I tried opening it in a private firefox window, and it was just a generic sign in page. I smell a phishing attempt.
The link starts out with ebay.com but the link address is so long I can't see it all, it could easily be redirected somewhere else. I have 2 accounts with 2 different email addresses, I only got this notice for one account.
Here's a copy/paste -

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You missed the deadline to update your account details and effective February 1, 2021 your ability to revise or relist existing listings, or create new listings will be disabled. Update your account details today, including adding your checking account information so you can get paid.
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Let’s put money directly in your pocket*
eBay now manages the end-to-end selling experience on our marketplace, including payments.
This means:

  • No more PayPal payment processing fees.
  • You get paid directly to your bank account, not your PayPal account.
  • Most sellers will pay the same or less than before.**
Please disregard this email if you’ve already updated your account details.
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FAQ’s:
Why is the way I’m getting paid on eBay changing?
We are updating the payments experience on eBay to enhance the buying and selling experience on the marketplace. We believe this is an opportunity to deliver a more seamless experience for both buyers and sellers, while offering a greater choice in payment and payout options.
Is there anything I need to do right now?
Please update your account details, including adding your bank account information, by February 1, 2021 to ensure there are no interruptions to your ability to create new listings and avoid potential payout delays. Learn more and get started here.
How are my fees changing?
Your eBay selling fees and expenses will be automatically deducted from your earnings before you get paid. The remainder of your earnings will go directly to your bank account, not your PayPal account. You'll no longer have to pay PayPal payment processing fees and no more separate monthly fee payments. Examples of eBay selling fees include: insertion fees, listing upgrades, and store subscription fees.
*As it relates to funds settlement.
**Savings based on annual total sales volumes, and comparisons of (a) prior eBay final value fees plus typical 3rd party payment provider fees, with (b) new eBay final value fees (without any 3rd party processing fees).
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Learn More to protect yourself from spoof (fake) e-mails.
eBay sent this e‑mail to you at [email protected] about your account registered on eBay.com.
eBay will periodically send required e‑mails to you about the site and your transactions. Visit our Privacy Notice and User Agreement if you have any questions.
Copyright © 2021 eBay Inc. All Rights Reserved. Designated trademarks and brands are the property of their respective owners. eBay and the eBay logo are trademarks of eBay Inc. 2145 Hamilton Avenue, San Jose, CA 95125.
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8
 
I'm in the same situation, only at slightly more than a hobby level. What I have done is setup another bank account, not tied to main accounts..

Banks can and will do dastardly nasty deeds.....like giving ebay the money they ask for out of you account, overdrawing it and then come after you. With banks, forget how it should be,,,,,,unless you have the dough to litigate one....think whats the worst they could do. Read through the non negotiable fine print on your account....all kinds of dirty tricks they can pull....often including language that will them access/seize your other accounts. If you do this, definitely use a different bank, not just different account....and still its not fool proof if they overdraw the account. You say there is no way they could because its not a line etc? seen it happen, the SOBs
 
Yes, it is most likely real, I have received same notice, tried to update quantity on a listing yesterday and it would not let me, and gave me the same notice seen above.

New bank account is with a completely separate bank, nothing to tie it to my main account, I will pull cash at ATM only, no transfers to main account. The scuttlebutt on ebay forum is that ebay partnered with a Chinese bank, when setting up new account bank asked if it would be used for any Int bank transfers, answering "yes" drew questions and another form, have yet to set it up with ebay, guess I will know soon.
 
I have considered opening a new account with a separate bank just for ebay, but I'd rather not go to the trouble. I like buying selling with Paypal, though I'd not a big fan of that company either. My Paypal acount is not tied to my bank account, but to my AMEX card only.
 
The problem with a separate account is that is still in your name, and with that comes all the same liabilities and opportunities for abuse. The only benefit, maybe, is you have less money in it than your real account. But otherwise, Ebay can and will abuse you for it.

The problem with setting up your own commerce site? Simple math. Ebay has an audience of millions, so the exposure your item will get is far greater. In other words, most people who might buy your item might well never find your site in the first place.


These abuses are the same that we see arising with many other inline companies like Google, Twitter, Instagram, and or course Facebook. First they achieve a monopolistic status, then they abuse it. It's worth noting, like it or not, that all of these companies are heavily left-leaning. A right-leaning company might try to screw you, but at least they do it to your face.

So let's take a page from the old hippie playbook...."Power corrupts. Absolute power corrupts absolutely."
 
........
So let's take a page from the old hippie playbook...."Power corrupts. Absolute power corrupts absolutely."

Not sure Lord Acton would have considered himself a hippie.

Wouldnt be surprised if the uproar from sellers doesnt cause eBay to backtrack by March 1.
 
Lord Acton mighta said it first, but the hippies commandeered it.

I doubt there will be much outcry. We are a nation of sheep. Don't forget, everyone is fine with Apple invading their privacy each and every day.
 
The thing is ebay only cares about the big sellers now. I have received really bad service/items from power sellers last few months. Left negatives. And did not do this lightly. They had to really do bad.

And ebay took the negatives down. I did not say anything personal. Just factual. Like obviously used, but sold as new. Or broken but not mentioned/pictured in ad.
 
Hasnt ebay parted with Pay Pal?....Think I read they are starting their own payment system...Effectively an ebay bank.......Anyway ,here ebay have been actively encouraging small sellers to use their associated free web sales site Gumtree. ........And getting back to Pay Pal,I had to give an agreement to give PP unrestricted access to my linked bank account ,and agree to allways have sufficient funds and not close the account without notifying them.
 
Yes, ebay and Paypal split the blanket several years ago. Ebay has been hinting about doing their own payment processing, but nothing definite until this year.

Originally I had a bank linked to my Paypal account, and also my Amex. I later closed the back account, and they have not asked for a new one.

I kind of want to keep Paypal now. I use the debit card a lot. And now you can buy cryptos easily with Paypal money. Mine has doubled since Thanksgiving.
 
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