Ebay changing payments.?

[jcmtiger]

Ebay asking for partial SS #, and payment will go directly to your bank account, not PayPal ? Joe

[tiger8mush]

correct. Ebay will deposit funds directly to the seller's bank account a couple days after the sale.

[jcmtiger]

Thanks, so is PayPal going away with eBay?

[jcmtiger]

I don’t feel save giving my routing# to ebay,, anyone else? Joe

[Michael B]

Originally Posted by jcmtiger

I don’t feel save giving my routing# to ebay,, anyone else? Joe

You can open a separate savings account with the minimum you bank allows. Have the funds deposited in to that account then transfer out of it. Every bank has a routing number. It is the bank identifier. As long as you only provide the single bank account number you should not have any problems. I would probably not 'link' my accounts if you bank electronically.

[slidekellyslide]

Originally Posted by jcmtiger

I don’t feel save giving my routing# to ebay,, anyone else? Joe

I’ve had managed payment through eBay for about 9 months now with no problem. They hold your money longer than PayPal did but I have payment go through daily so I don’t really notice.

[jimjim]

Originally Posted by slidekellyslide

I’ve had managed payment through eBay for about 9 months now with no problem. They hold your money longer than PayPal did but I have payment go through daily so I don’t really notice.

I am late to the game, as I don't sell that much on eBay but I just had my first experience with their new payment system. The big difference is they 'hold' my money for 2-3 days as they are 'processing' it. I can't transfer to my bank account right after the sale is complete as I did on PayPal.

Essentially eBay is working the system and making interest on the 2-3 days of holding my money. Think of all that money 'on hold' and that adds up each and every day. So I am essentially giving eBay a short term interest free loan. These companies have no shame. Just like Comcast constantly raising the price on equipment that I 'lease' from them, which I have had for 12 years. Same equipment but higher prices every year.

[chriskim]

If the buyer asked for refund, will eBay withdraw money from our bank account to fund such refund? Or eBay would just put a negative balance on our account?

(I haven't been shipping items out as quick as before (2 to 3 days delay) since I want to make sure the money got deposited into my bank account before I ship out anything.)

[bobbyw8469]

Originally Posted by chriskim

If the buyer asked for refund, will eBay withdraw money from our bank account to fund such refund? Or eBay would just put a negative balance on our account?

(I haven't been shipping items out as quick as before (2 to 3 days delay) since I want to make sure the money got deposited into my bank account before I ship out anything.)

Ebay will debit your account and use future funds to offset it. Ebay debited my account when a buyer stated he wanted to return a PSA graded ticket stub after he owned it for a month. I simply told him that I don't take returns on PSA graded items, declined his return request, and simply blocked him. The debit disappeared off my account the next day.

[jingram058]

Originally Posted by jcmtiger

Thanks, so is PayPal going away with eBay?

What happened to PayPal? From a buyer's point of view, when you make an eBay purchase and select the PayPal option it now takes a few minutes before "Pending" goes away. It used to be seamless and virtually instantaneous. Seems like they have gone downhill.

[chriskim]

Originally Posted by jingram058

What happened to PayPal? From a buyer's point of view, when you make an eBay purchase and select the PayPal option it now takes a few minutes before "Pending" goes away. It used to be seamless and virtually instantaneous. Seems like they have gone downhill.

Yup... eBay definitely steps backward, we are back to the old date.....it is now like seller received personal check and waited until it cleared before shipping out the item. (That's how I do it now... at least)

[chriskim]

Originally Posted by bobbyw8469

Ebay will debit your account and use future funds to offset it. Ebay debited my account when a buyer stated he wanted to return a PSA graded ticket stub after he owned it for a month. I simply told him that I don't take returns on PSA graded items, declined his return request, and simply blocked him. The debit disappeared off my account the next day.

Wow... really. My experiences of eBay are buyers always win even sellers clearly indicate there's no return in their auctions, if buyers request for return/refund for whatever reasons, eBay would just debit sellers' accounts and refund those buyers because of their Buyers protection Program (or whatever that thing was called.... speaking of that program, I don't remember seeing that on eBay listing for a while, do they still have that BTW?) That's why I am more of a buyer than a seller on eBay nowadays.