eBay selling changes coming.

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Just had notification from eBay that they are changing the way sellers are paid.
Every seller will be required to give eBay their bank account details and payments will be made by eBay after deduction of fees ... no more Paypal.
Reading the 'small print' it looks like there will be more fees, including 'foreign transaction' fees, e.g. extra payment if shipped to the EU or extra payment if the buyer lives in the EU but the item in shipped to a UK address.
 
Hmmm . . . there could be some improvement then? I stopped selling on there many years ago due the fact that there are so many scammers.

I still buy on there occasionally, but only if I can't get it somewhere else - Amazon being favourite due to their amazing customer service.
 
Personally I like being able to access my money straight after I've been paid, waiting two days after payment and the possibility of having extra fees deducted is a change I'm sceptical about - as is giving yet someone else my bank details, but time will tell.
 
I've been on this since last summer. It actually works a little smoother, but I've not had any issues so far.

It's more expensive if you sell "normally" as the combined eBay fee is more than the old eBay fee+Paypal. Not by much but it's still more.

However it's much better if you wait for the £1/FVF deals as all you pay is £1 with no paypal fees.

In terms of delay it does feel a bit cheeky that you can get the "you've been paid" notification and not see the money immediately. In practise, it's usually in my account within 24hours of the "you've been paid" notification, but still, these days, there's no reason for it to take so long other than to grab a bit of interest.

Not sure how cash on collection works.
 
how does it work if eBay need to(for whatever reason) to claw money back?
 
This will curtail all the iffy sellers that hide behind numerous Paypal accounts.
 
Harlequin565 said:
I've been on this since last summer. It actually works a little smoother, but I've not had any issues so far.

It's more expensive if you sell "normally" as the combined eBay fee is more than the old eBay fee+Paypal. Not by much but it's still more.

However it's much better if you wait for the £1/FVF deals as all you pay is £1 with no paypal fees.

In terms of delay it does feel a bit cheeky that you can get the "you've been paid" notification and not see the money immediately. In practise, it's usually in my account within 24hours of the "you've been paid" notification, but still, these days, there's no reason for it to take so long other than to grab a bit of interest.

Not sure how cash on collection works.
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Hmm seems interesting, I hate PayPal but have not used my account much. How do you sign up for this?
 
I received one of these mails and assumed it was a scam.
Is it legit?
 
Peter123 said:
I received one of these mails and assumed it was a scam.
Is it legit?
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stickytape said:
Hmm seems interesting, I hate PayPal but have not used my account much. How do you sign up for this?
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From moneysavingexpert.com

"You don't need to do anything until you get an invite, which will come by notification on the eBay app or by email. eBay says you just need to follow the instructions to add a bank account, which should take a few minutes. Once you change, you won't be able to get paid by PayPal. "

I wouldn't have clicked email links purporting to be from ebay - especially ones mentioning entering bank details. Too many scams. So it's likely it was the app I have on my phone although I seem to recall it was a message in my eBay inbox.

I think it's going to be a mandatory change for all customers by the end of 2021 (which is why I just switched when I did). A quick search turned up this page on eBay's site which you can find yourself if you have the patience and required search-fu. https://sellercentre.ebay.co.uk/selling/managed-payments

There's a "register" link on that page but it does say you need to be invited. I would suspect they're batch rolling it out but by the end of the year, there'll be a better way of doing it.

Managed Payments is the term to search for. There's lots of outrage, but as with all eBay changes, you're perfectly entitled to sell your stuff elsewhere.

Edit to add - finding out what status your payment is in is a nightmare. Once eBay say it's been paid, there's a period of time where you don't have the money. You have to go to a (very difficult to find) page to see what state it's in where it shows as "pending" until it's actually in your account. I really feel for those business sellers who are trying to make a living off eBay. It'll be no fun for them.
 
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Harlequin565 said:
From moneysavingexpert.com

"You don't need to do anything until you get an invite, which will come by notification on the eBay app or by email. eBay says you just need to follow the instructions to add a bank account, which should take a few minutes. Once you change, you won't be able to get paid by PayPal. "

I wouldn't have clicked email links purporting to be from ebay - especially ones mentioning entering bank details. Too many scams. So it's likely it was the app I have on my phone although I seem to recall it was a message in my eBay inbox.

I think it's going to be a mandatory change for all customers by the end of 2021 (which is why I just switched when I did). A quick search turned up this page on eBay's site which you can find yourself if you have the patience and required search-fu. https://sellercentre.ebay.co.uk/selling/managed-payments

There's a "register" link on that page but it does say you need to be invited. I would suspect they're batch rolling it out but by the end of the year, there'll be a better way of doing it.

Managed Payments is the term to search for. There's lots of outrage, but as with all eBay changes, you're perfectly entitled to sell your stuff elsewhere.

Edit to add - finding out what status your payment is in is a nightmare. Once eBay say it's been paid, there's a period of time where you don't have the money. You have to go to a (very difficult to find) page to see what state it's in where it shows as "pending" until it's actually in your account. I really feel for those business sellers who are trying to make a living off eBay. It'll be no fun for them.
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Thanks. I don‘t sell much so I may as well transfer.
 
First time I've heard of this.
Getting rid of PayPal and all the PayPal related scams can only be a good thing. I'm not eligible yet by looks of things, can't wait to get on board though. I can't see many downsides with this apart from the wait time for funds to arrive in the account which actually isn't very bad. When I used to sell on Amazon wait time used to be more like a month!
 
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I can see why Ebay is doing this - it makes them a bit more like Amazon, they'll make more money out of sellers and, like Amazon, will probably eventually end up holding on to seller's money for a very long time.

And there may be a big downside for buyers too, because right now PayPal provides protection that Ebay doesn't. Here's my example . . .
I bought a car battery starter via Ebay, about £40, to be kept in the car just in case. There wasn't any easy way of testing it at the time because my battery was fully charged, but 2 months later I needed to use it and found that it was faulty.

Ebay wasn't interested because my purchase was more than 30 days old.
The seller ignored my request for a return and refund because he could. So, I contacted PayPal and 7 days later they refunded my money
 
Garry Edwards said:
I can see why Ebay is doing this - it makes them a bit more like Amazon, they'll make more money out of sellers and, like Amazon, will probably eventually end up holding on to seller's money for a very long time.

And there may be a big downside for buyers too, because right now PayPal provides protection that Ebay doesn't. Here's my example . . .
I bought a car battery starter via Ebay, about £40, to be kept in the car just in case. There wasn't any easy way of testing it at the time because my battery was fully charged, but 2 months later I needed to use it and found that it was faulty.

Ebay wasn't interested because my purchase was more than 30 days old.
The seller ignored my request for a return and refund because he could. So, I contacted PayPal and 7 days later they refunded my money
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Won't make a difference for buyers as they can still pay via PayPal apparently. I just updated my seller account.
 
THIRTYFIVEMILL said:
Won't make a difference for buyers as they can still pay via PayPal apparently. I just updated my seller account.
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they may be able to pay via. paypal but not sure if that means they can tie in the seller though. In the past paypal had control over sellers account because they got paid into the paypal account. As far as I understand ebay do not have access to your bank account to take money out of it directly like paypal could do.
 
nandbytes said:
they may be able to pay via. paypal but not sure if that means they can tie in the seller though. In the past paypal had control over sellers account because they got paid into the paypal account. As far as I understand ebay do not have access to your bank account to take money out of it directly like paypal could do.
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Not sure but don't eBay own PayPal?
 
I thought this was just a way for ebay to cut out paypal and to take that portion of the selling fees.
So there is a small increase to the selling in costs, but a larger proportional increase to ebay's revenue.

I'm not sure it's a good idea yet, but maybe there are pros that are worth paying for.
 
DizMatt said:
I thought this was just a way for ebay to cut out paypal and to take that portion of the selling fees.
So there is a small increase to the selling in costs, but a larger proportional increase to ebay's revenue.

I'm not sure it's a good idea yet, but maybe there are pros that are worth paying for.
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I haven't properly read thru everything yet but thus far I've not seen any particular advantage to sellers. Before I could sell an item, get paid immediately and have the money in my bank account a few seconds later. Now I have to wait a while before eventually getting paid.
 
I sold a lens on Saturday. Payment made immediately. I posted it out on Monday morning and by lunchtime, the money was in my account from eBay.
Sold another lens on Sunday. Payment made immediately. Money in the (bank) account on Tuesday.
2 items sold on a Tuesday. Payment immediate (BIN). Money in on Thursday.

Seems to be Item sells, customer pays, + 1 day, you get it in your bank account.

THIRTYFIVEMILL said:
thus far I've not seen any particular advantage to sellers.
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There is no advantage unless you sell on the £1 deal days. If you sell an item for £50, you get £49. No paypal fees. With the old rules, you'd get £46ish. More savings on higher value items. E.g. my lens sold for £300. I got £299. In the Paypal days, I would have got £278ish?

If you sell "normally", then you don't really save much, because eBay's new 10% fee is very similar to the old 5% + 5% Paypal fee. There are some small differences, but when I worked it out, it was ever so slightly more expensive using the new method.

That's why I now tend to draft stuff up as and when I decide to sell it, then I "complete" the draft when the £1 offer comes up.
 
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I have had this on my account for the last two month, I have actually saved a fortune in Paypal fees, much better system than the old one.
 
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gramps said:
a change I'm sceptical about - as is giving yet someone else my bank details, but time will tell.
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The only thing that somebody can do with your bank details is pay money IN to your account. Every cheque ever written has your account number and sort code - and your signature - on it.

Mr Perceptive said:
How will cash on collection work then?
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I believe that eBay will provide a code which the buyer and seller will both enter into the app at the time of collection, so that INR claims will not be possible. I expect that there will be no SNAD protection either, on the grounds that the buyer had an opportunity to inspect the goods before paying.
 
Contax said:
The only thing that somebody can do with your bank details is pay money IN to your account. Every cheque ever written has your account number and sort code - and your signature - on it.
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Doesn't mean I want more people to have it ... oh and ...

www.pressgazette.co.uk

Jeremy Clarkson victim of ID fraud after publishing bank details

Top Gear presenter and Sunday Times columnist Jeremy Clarkson has fallen victim to a scam after publishing his bank details in a newspaper column arguing that the scandal of lost CDs containing the personal data of millions of Britons as a “storm in a teacup”. Clarkson had printed his own bank...
www.pressgazette.co.uk www.pressgazette.co.uk
 
Sigh - not that old canard yet again.

Jeremy Clarkson was - incorrectly - set up to pay a Direct Debit to a charity. Because of the way the DD scheme works, (1) it is only available to legitimate organisations, as very stringent checks are done as to who can receive DDs, and (2) Clarkson could have easily have chose to rescind the payment (because it was to a charity, he chose not to in this case). The (minor) problem was caused by somebody not following due process when setting up the DD payment.

Again, the only (meaningful) thing that anybody can do with your bank account details is to pay money IN to your account. There is zero financial risk in publishing them on the internet, in a newspaper, on your letterhead, or anywhere else.
 
If I remember correctly, when Ebay first got into bed with Paypal, I had to link my bank account to my Ebay, this I think was so that a secondary payment was an option.
I assumed this would be the same for everyone who has been using Ebay since it's early days?
 
hashcake said:
If I remember correctly, when Ebay first got into bed with Paypal, I had to link my bank account to my Ebay, this I think was so that a secondary payment was an option.
I assumed this would be the same for everyone who has been using Ebay since it's early days?
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yes they bought paypal, then spun it off and it became an independent company there after.
 
Contax said:
Sigh - not that old canard yet again.

Jeremy Clarkson was - incorrectly - set up to pay a Direct Debit to a charity. Because of the way the DD scheme works, (1) it is only available to legitimate organisations, as very stringent checks are done as to who can receive DDs, and (2) Clarkson could have easily have chose to rescind the payment (because it was to a charity, he chose not to in this case). The (minor) problem was caused by somebody not following due process when setting up the DD payment.

Again, the only (meaningful) thing that anybody can do with your bank account details is to pay money IN to your account. There is zero financial risk in publishing them on the internet, in a newspaper, on your letterhead, or anywhere else.
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Please feel free to post your bank details in the thread ... as I said, it doesn't mean I want to give mine to anyone else.
 
gramps said:
Please feel free to post your bank details in the thread ... as I said, it doesn't mean I want to give mine to anyone else.
Click to expand...

To be fair, I think I remember at the time this happened I questioned how someone could access your account with just the account and sort code details.
If I want to withdraw or add funds to my account at the bank, the only way this can be done is via my debit card for security.
For online access we all know we have to use more than just a username and password to access our bank accounts so without this information, how could someone access the account?
 
hashcake said:
To be fair, I think I remember at the time this happened I questioned how someone could access your account with just the account and sort code details.
If I want to withdraw or add funds to my account at the bank, the only way this can be done is via my debit card for security.
For online access we all know we have to use more than just a username and password to access our bank accounts so without this information, how could someone access the account?
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I'm not arguing the point, merely repeating that I don't want another company to have my details unnecessarily. :
 
that's a great idea
Harlequin565 said:
There is no advantage unless you sell on the £1 deal days. If you sell an item for £50, you get £49. No paypal fees. With the old rules, you'd get £46ish. More savings on higher value items. E.g. my lens sold for £300. I got £299. In the Paypal days, I would have got £278ish?

If you sell "normally", then you don't really save much, because eBay's new 10% fee is very similar to the old 5% + 5% Paypal fee. There are some small differences, but when I worked it out, it was ever so slightly more expensive using the new method.

That's why I now tend to draft stuff up as and when I decide to sell it, then I "complete" the draft when the £1 offer comes up.
Click to expand...
 
gramps said:
Please feel free to post your bank details in the thread ... as I said, it doesn't mean I want to give mine to anyone else.
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Sort code 07-01-16
Account 12939394

There you go - feel free to pay as much as you wish into it!

You're perfectly at liberty to not want to give your details to anybody else - but do be aware that your choice is not supported by any logic, rationale, or risk reduction. And please don't keep spreading misinformation about Clarkson.
 
Contax said:
You're perfectly at liberty to not want to give your details to anybody else - but do be aware that your choice is not supported by any logic, rationale, or risk reduction. And please don't keep spreading misinformation about Clarkson.
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Please explain what mis-information I keep spreading about Clarkson?
 
gramps said:
Please explain what mis-information I keep spreading about Clarkson?
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The newspaper link that you posted earlier in the thread, which was completely irrelevant to the point at hand.
 
Contax said:
The newspaper link that you posted earlier in the thread, which was completely irrelevant to the point at hand.
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Ah, I think you've got me confused with the Press Gazette ... in fact I think you are now very confused, or trying to dig yourself out of a hole.
I'll just leave you there though now :)
 
gramps said:
Ah, I think you've got me confused with the Press Gazette ... in fact I think you are now very confused, or trying to dig yourself out of a hole.
I'll just leave you there though now :)
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The Press Gazette article contained mis-information, especially in regard to what can be done with bank account details - go and read about the Direct Debit Guarantee. It's also not exactly the most reputable of magazines (there's a reason why it had a circulation of well under 3,000), and is mostly interested in clickbait to drive people towards its advertisers. Just because you've been taken in by it, doesn't mean that you should be regurgitating the nonsense that it published.

Out of curiosity, do you also believe that the earth is flat, that the Covid vaccine will turn us all into lizards, and that there is a God up there is heaven?
 
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