Ebay

[Ben Yourg]

I don't use Ebay,very often.Today I tried to revise my listing,
and all of a sudden it said Ebay has a new way of paying
people,when their listing sells.This was in "red" print.They were going to send your money to your bank,instead of you.And take out fees,before
And,they said for me to update my seller ID.Has this happened to anyone else?
Thanks,
Ben

[conor912]

Yes, they completely switched about a month ago. Now when your item sells, they hold the payment in limbo for a day or two, then transfer it to your bank account minus fees, which takes another couple days. So now instead of having instant access to your money when something sells, you get it in 4-5 days. Awesome, huh?

[Ben Yourg]

So this is ligit,and as far as giving them a bank account number,etc.no worries,I guess.
And then when they ask you questions,about identification numbers,etc.It's putting
more info out there,that should not be needed?
Ben

[philliesfan]

I am opening a separate bank account at a different bank for ebay payments. I am always paranoid about giving my personal account information that I write checks and have direct deposits in.
Besides, I have a coupon from a bank that if I open a checking account and have direct deposits totaling $1,000.00 over a 3 month period, they will deposit $300.00 into the account for me. Hey free money........I will take it.
Bob

[hcv123]

If you do a search for Ebay managed payments here - I know there have been other threads discussing it.

I created a separate bank account (at the same bank) that I use exclusively as my "Ebay managed payments" account. It is a money grab of sorts as it takes 3-7 days from the time the buyer pays till the time the $$ hits your account. Ebay collects the $$ instantly - so they benefit from days of float on a LOT of volume. So far other than that has been pretty smooth.

[nebboy]

So do you have to pay for auction from this bank account or can you still use PayPal

[bnorth]

Originally Posted by nebboy

So do you have to pay for auction from this bank account or can you still use PayPal

They still let me buy with PayPal but can no longer sell tell I switch to the new way to receive payment.

[nebboy]

Originally Posted by bnorth

They still let me buy with PayPal but can no longer sell tell I switch to the new way to receive payment.

Good to know

[Pre War Starter]

So what happens when payment has been made by buyer, yet seller waits to send card until it “clears”?
Meaning the seller won’t send card out for 4-5 days after the buyer paid??

[toledo_mudhen]

Originally Posted by Pre War Starter

So what happens when payment has been made by buyer, yet seller waits to send card until it “clears”?
Meaning the seller won’t send card out for 4-5 days after the buyer paid??

As soon as the seller pays eBay the payment shows up in your eBay "Escrow" account so you are now "officially paid" (you just dont have access to the money yet)

Additionally I see that eBay is raising Average Joe seller fees to 12.35%.

A year into complete pandemic shit storm and everyone out there is gettin rich - geeziz

[nsaddict]

A friend sold a psa 9 Brady rookie, buyer has had the card for 2 weeks money won’t be accessible for another week. That’s a 3 week wait time to be paid over 3K. It’s his first time selling and probably last.

[Herpolsheimer]

How might this affect the value of PayPal? It was a spin-off of eBay years ago and it appears that eBay is now reentering this lucrative business.