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This is the notice i just received from Ebay. About their new seller policy.

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Tony Drago:

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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Brett Buck:

--- Quote from: Tony Drago on May 07, 2021, 11:13:27 AM ---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.

--- End quote ---

   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

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

Brett Buck:

--- Quote from: FLOYD CARTER on May 07, 2021, 12:18:24 PM ---I've only sold a couple items over the years.  I'll be damned if I will give ANYONE my bank account information.

--- End quote ---

   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

Dan McEntee:
   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

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