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  • May 09, 2021, 08:01:28 PM

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Author Topic: This is the notice i just received from Ebay. About their new seller policy.  (Read 511 times)

Offline Tony Drago

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eBay   
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Your payments are changing, are you ready?*
eBay now manages the end-to-end selling experience, including payments.

This means:


You get paid directly to your bank account, not your PayPal account, regardless of how the buyer chooses to pay. We will initiate payouts within two business days of payment confirmation.


You get paid directly to your bank account, not your PayPal account, regardless of how the buyer chooses to pay. No more PayPal payments processing fees or separate monthly fee payments!


Most sellers will pay the same or less than before**

Learn more here.

Update your account details by May 28, 2021. Please make sure you register by the deadline so you can continue to create, relist and revise listings, and preserve your Good ‘Til Cancelled listings.

Please disregard this email if you’ve already updated your account details.

Get started  ➔

 

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 May 28, 2021. Once you update your details, you will automatically offer all payment methods to your buyers, and we will initiate payouts within two business days of payment confirmation, regardless of how your buyer chooses to pay. Learn more 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 shop 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) updated eBay final value fees (without any 3rd party processing fees).

      
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Offline Motorman

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Might as well take it down to the Salvation Army.


Motorman 8)
Remove victim to fresh air

Online Brett Buck

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This means:


You get paid directly to your bank account, not your PayPal account, regardless of how the buyer chooses to pay. We will initiate payouts within two business days of payment confirmation.

   This really means:

    "We will have your money to invest on the "float" for 2 days, thus profiting from your sales and the loan you are (involuntarily) floating us. '

    Note that this is EXACTLY how Paypal makes its money and why you have ever heard of Elon Musk. The eBay scheme is even better, because they are using existing financial institutions to do all the work for them.

    Brett

Offline FLOYD CARTER

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I've only sold a couple items over the years.  I'll be damned if I will give ANYONE my bank account information.
"Growing old is easy.
 Staying old is hard"
AMA #796  SAM #188  LSF #020

Online Brett Buck

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I've only sold a couple items over the years.  I'll be damned if I will give ANYONE my bank account information.

   The workaround, of course, is to make an another account just for this purpose. They will make money on the "skim" and you have isolated them.

      But yes, they are certainly abusing their monopoly, just like any other monopoly, to make the most money for the least effort.

    Brett

Online Dan McEntee

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   Gee, and they make it sound like you should be happy and glad about it!!  And "Why didn't we think of this before!!??"

  What are some of the newer auction sites that will give them a run for their money?

  Type at you later,
   Dan McEntee
AMA 28784
EAA  1038824
AMA 480405 (American Motorcyclist Association)

Offline Mike Griffin

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I dont use PayPal anymore and I certainly do not use EBay.  I closed my account there several years ago.

Mike

Online RC Storick

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A while back I had an auction site here. Would you like me to put it back? I think is was a buck to list an item and SH got no fees for the sales. Of course, it would not be as big as eBay but everyone could point people to it. Just a thought
AMA 12366

Offline AirClassix

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Meaning absolutely, positively, nada, zip, no disrespect ...  Me thinks for at least some here this is much too worry ...

 D>K

   [ONE]
If you absolutely, positively don't want anyone to have your social security number, bank information, yada yada ... well, maybe you best get off the internet!

At one time both my wife and I were covered by THREE (yes, 3) identity protection services provided by entities that experienced DATA BREACHES.  It happens every day.  You really don't want to know!

I worked for the IRS for a time.  Took calls from folks who wanted information on their accounts.  Naturally we went to great pains to insure the caller was actually the person they represented themselves as - and, to be clear, we weren't offering exactly top secret stuff over the phone.

You might be amazed by how often bookkeepers, accountants, lawyers and others think they can pull this off - and I feel it's usually pretty easy to pick out the "phonies".  In those cases I asked lots of questions, which often led to the caller asking "How many more questions are there?"  I might even answer something like "Oh, we're just getting started - wait until I ask the names of the last 3 dogs you've had".  In rare cases I might even say "Well, if you run into John Doe, please tell him I'll be happy to provide the information if he'll call and identify himself".  NEVER, EVER had an adverse reaction in those cases - the caller usually said something like "I'll call back when I have more time" and ended the call.

My point is this: I could ask so many questions about the individual, family members, yada yada ... and know if the caller's answers were correct.  Most of us don't really have many secrets in this area.

   [TWO]
Taxes - golly gee whiz, talk to an accountant or tax preparer if you're worried about that!  You're not taxed on the gross sales, only on any gain/profit after you deduct cost of the item, shipping, packaging expense, mileage to the post office, labels, eBay and PayPal fees, mileage you incurred shopping for the item or delivery costs, yada yada.

eBay has actually done sellers like myself a big favor.  I don't think anyone has mentioned here the monumental drive to collect sales taxes.  The courts have ruled if I'm using the internet to sell and make more than x number of sales to buyers in states y and z, I must collect sales tax.  Does anyone here have an idea what a mess that is?  Which part of a city is in county A and which part is in county B - and what are the current tax rates in each?

eBay is allowed to calculate, collect, report and pay those sales taxes for me - I never see any part of it except for a monthly sales tax report eBay provides - if I even want to look at it.

Oh, and if you "lose" money on your sales, IRS will likely disallow it as a "hobby loss".

   [THREE]
Managed payments - wonderful!  When buyers used PayPal I transferred the funds to a bank account - and PayPal had that info.  Now eBay collects and remits to a bank account - and eBay has that info.  Doesn't look much different to me.

But deciphering PayPal's accounting became something of a major task, literally analyzing every payment.  The accounting they provided at first glance lumped the sales tax collected together with the actual PayPal fee - a time-consuming mess!

eBay now reports just the total for the item plus S&H and the fee they deduct.  Funds are sent to my bank account virtually every day and usually reach the bank in 1 or 2 days.

As one who has sold on eBay for 20 years, I have LOTS of complaints about their system - but they really don't include the concerns spelled out here.
Dennis Leonhardi
New Prague, MN
AMA 353
http://stores.ebay.com/airclassix

Online Frank Imbriaco

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An auction site interests me.

Offline Paul Wescott

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I would love to find an auction site that extends the deadline if some sniper makes a bid at the last minute.  GunBroker does it and it seems to keep the final sales prices fair to the seller.  I have no idea why ebay doesn’t do the same.  They would probably make more money in fees as the sale prices crept higher near the end.  Also they might even charge for the feature.

Yes I might be interested in an auction feature here.

Paul W.

Online Air Master

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Sparky, I would be interested in reopening the SH auctions again. 

Online Craig Beswick

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Robert I agree,
an auction site would be great for sellers, buyers and Stunthanger!

A single dollar per listing is ridiculous though! EBay, depending on the item, charges something like 10% of the final listed price which includes delivery charges! I got this from Google if incorrect I stand corrected.

I think a fair return for all should and could be worked out.

Craig Beswick
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"The Ninja"

Offline Avaiojet

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Robert I agree,
an auction site would be great for sellers, buyers and Stunthanger!

A single dollar per listing is ridiculous though! EBay, depending on the item, charges something like 10% of the final listed price which includes delivery charges! I got this from Google if incorrect I stand corrected.

I think a fair return for all should and could be worked out.

Craig Beswick

I sold my R/C Staudacher S300D recently on ebay. Just before this I filled out a few "upgrades" which didn't include my SS#, just the last 4 numbers.

Ebay has a pay system called Xoom, even though they own PayPal.

I waited 4 days for my 460.00 left out of the 500.00. Smart business these ebay folks. Keeping money in their bank account earning interest for 4 days.

Ebay has 25 million participants.

Oh! Get this. My buyer in Oregon is paying 1,100.00 for shipping. The UPS store did it.
Trump Derangement Syndrome. TDS. 
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