Primarily Petroliana Shop Talk Forums Shop Talk Petroliana Forums General Petroliana Discussion FEEBAY

If you sell on ebay pay now goes to your bank account rather than to paypal.I assume others have been notified?? Thoughts.

if you send family/friend money, I assume that

would also go directly too there bank acct. ? .. ...

I would think so Randy but have not switched over yet--think it needs to be done by May 28.

I just recently started selling and this is how I had to set my account up with payments going directly into my checking account. I assume it's just another way they're trying to separate the companies?
Darin

I assume this is a good ting for the seller?
I don't sell on eBay,but payment going right to my Bank acct. is something I'd want.

I think they've been switching people for a while now, mine isnt switched yet. I am hoping that the ebay fees are taken out right away, sick of getting the bill two months later.

Yes, all the fees are taken out, the net amount is deposited into my checking account. I think it's been pretty seamless so far for me as a new seller. You can have your transaction/sales deposited individually, or you can choose to have a week's sales deposited every Tuesday. It takes 1-3 days to hit my account once I get the notice from Ebay that my payout is being sent.

This is their new system. Goes straight into your bank account less all fees. It seems to me that the fees are about 14% so about 1% higher than the old way although they tout it being cheaper with less fees. LOL.

I just got my notification of the changes this week as well. Quoting a famous football coach "It is what it is".

you have to provide SSI # with your bank account & possibly receive a 1099 depending on total sales - not minus the 12.55% money - according to Ebay's registration box they have for me which ends may 21 -- won't be able to list, revise or anything but buy. To streamline & save you money(lol) the fees quoted are 12.55% on total SALE that's Final Fee - Shipping - and yes the Sales Tax. they collect. Funny how few years back they forced you to Pay Pal only from other payments- now since they sold Pay Pal they want it & other credit cards. The new money management is run by old PayPal competition Dutch/Belgium company according to internet (4 what it's worth). I'm still on fence about continuing not many other avenues i've found with area coverage

It’s not a good thing for a hobbyist, sets the stage for feebly to report all your sales to the IRS as income. It’s yet another way to get into your pocket....way too much up in your business...

I think charging a fee on Tax is Pure B.S.

I am really bothered by this move by EBAY! I may live in the Stone Age but I don’t use on line banking and do not want my bank account “linked” to any online entity. I will probably not be selling anything else on EBay. I really like PayPal and prefer to pay and be paid by using it. Am I that “backwards” in my thinking?
Steve

Guess what....Ebay can also remove money from your checking any time they see fit also. I have so far found it nearly impossible to see just were all the money is being doled out to that they are collecting.

I just noticed that they all tax shipping costs. I didn't think that was required. Just a way to increase their income. I believe I have bought my last item on that site!