2blu442

Hi All
I still dabble with ebay listing a few items a month there. I just got an email offering to setup automatic deposits into my bank account and bypass paypal. They touted the chance to skip the paypal fees. My first reaction was I don't want them connected to my bank account. But years ago I setup an account with a bank different from where I do the rest of my banking and tied that one to my paypal account. So I guess that wouldn't be any different. I understand ebay and paypal are no longer connected, but am still trying to consider why they would make this change. Anytime a business is doing something to "help" me I want to make sure there's no underlying agenda that will hurt me in the long run! Anyone else run into this, and do you plan to make the change?

Loaded68W34

Did they offer, or require you to make this change? Around the start of the year, I got messages saying that eBay would be setting up its own payment system and that if I wanted to continue to sell anything, I would need to go into my account settings and change my payment method so it was through eBay's new system. I never changed the settings, and have not sold anything since through eBay so I am not sure if you can still get paid through PayPal or not. I believe they did this to cut PayPal out of the loop. The message I received from ebay was worded very suspiciously. It said something like "most sellers using our new system will save money on reduced selling/ processing fees". I took this to mean large volume sellers will get a price break while the little guy selling a few items now and then will be price gouged. I could be completely wrong. If you do go with eBay's new system I would be interested to know how it works out for you. I have a separate bank account as well that is linked to PayPal. I would not be too worried about linking the account to eBay. I was more concerned about them taking an even larger chunk of the sale price then they already do.

Koda

Paypal is horrific, see a previous thread of mine for a fun story, but since they got spun off of Ebay, or Ebay was spun off of them, they were being horrific to each other and apparently didn't like it. My paypal account is currently bank-account-less because I closed the account and neglected to tell them. I supposed I'll set up another stand-alone before I sell stuff again.

Loaded68W34

No arguments here about PayPal being bad, I just did not want to change my settings only to get charged even more. I am interested to see if anyone chimes in who is using eBay's new system.

2blu442

I just went back and read through the email from ebay again. I see what your saying, that it may provide a discount to the larger sellers but not us small time guys. Here's the quote that implies that. Sounds like ebay may charge what paypal would have.

**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).

2blu442

I just found and read your thread on paypal. I have had some transactions using Zelle which is kind of nice. No fees, and it goes directly from their bank to mine. I consider that a better option if both parties have it.

RandyS

I'm surprised that eBay just contacted you. They hit me up a couple of months ago, and no, the change away from PP is not optional. It works pretty smoothly, and the overall cost is about the same as when PP got their share. The main difference I see is that it takes a few days for the funds to land in your bank account, whereas with PP they were available right away.

Don R.

This will become a requirement for all sellers at some point. They have been phasing it in for about a year, I have a small retirement business selling there so I had to switch over about 8 months ago. It has been pretty painless, they deduct all your fees from your sales and deposit the balance in your account with appropriate notifications. I tracked the last three months of 2020 in my bookkeeping and did not see any major change in my total fees, so I agree most small sellers will probably not see major savings. I still use PayPal to pay for purchases and heave seen no changes there. Yes, you do have to give them access to a bank account, I have a dedicated business account where I keep the balance trimmed down, but in reality this is no different than any other autopay or debit situation. At some point though this will be required of all who want to sell on Ebay.

skyhigh

Absolutely, we use E-transfer here in Canada, no fees at all, send and receive money through an email, that simple. I wish the states had it, paypal is a huge ripoff, no need to pay a middleman.

crimsoncolby

I sold a considerable amount over the years on e-Bay, but haven't done much the past couple of years. I received notice from e-Bay about 6 mos ago that either I update to their new program or I couldn't sell anymore. So, I decided I needed to keep this avenue open and proceeded to abide by their rules. Sellers can still receive Paypal payments, but the difference is how the monies are handled once a sale is made. Paypal payments, however, are no longer placed into your Paypal account. Rather, e-Bay releases them to your attached bank account once fees and taxes are deducted. What I don't like about this arrangement is that under the old system, the Paypal money was transferred into your Paypal account almost immediately...and from there, you could readily use it to make your own purchases. Now, you have to wait as long as 4-5 days for e-Bay to transfer the funds if the sale is done on a Friday evening or over the weekend. Oh, and the approx. 4% Paypal fee that used to be charged to the Seller...e-Bay has grabbed nearly all of that and added it to their existing transaction fees.

blakes7

Same here. I'm not crazy about waiting the extra 2-3 days, though.

BlueCalais79

Exotic, that particular seller isn't like most. I use as a rule of thumb offering 50% of the item and see if I get a counteroffer. Sometimes that works, sometimes no. I get a little peeved when I make an offer and I get a decline without a counteroffer.

Most sellers are reasonable. Yours wasn't, unfortunately.