cobraman Posted January 3, 2021 Share Posted January 3, 2021 Maybe this is old news but I keep seeing the message to add banking info for payments for stuff I sell to go direct to my account with fees already removed. Doesn't ebay own paypal ? Paypal has my info so ebay should have it no ? Quote Link to comment Share on other sites More sharing options...
stitchdup Posted January 3, 2021 Share Posted January 3, 2021 (edited) I think they're just trying to get people that dont use/want paypal to buy on the site. I have noticed paypal doesn't work with some newer business sellers Edited January 3, 2021 by stitchdup Quote Link to comment Share on other sites More sharing options...
plastic trucker Posted January 3, 2021 Share Posted January 3, 2021 Are you sure it's eBay trying to get your banking information? It could also be a scam of some sort. Quote Link to comment Share on other sites More sharing options...
cobraman Posted January 4, 2021 Author Share Posted January 4, 2021 Seems to be real. In addition to getting a message I also see it when I log into my My Ebay portion of the site. Quote Link to comment Share on other sites More sharing options...
Oldcarfan27 Posted January 4, 2021 Share Posted January 4, 2021 I would be EXTREMELY suspicious!!!! Possibility of it being a hacker, trying to get banking information. Beware! Quote Link to comment Share on other sites More sharing options...
Danno Posted January 4, 2021 Share Posted January 4, 2021 eBay owned Paypal for several years, until 2015. They spun it off as a stand-alone. eBay and PayPal continued a contractual agreement that expired at the end of 2020, ending PayPal's primary position as a payment tool with eBay. It is now a third-tier option, but eBay is developing its own, new system. According to Wikipedia, PayPal will remain a payment option for shoppers on eBay, but it won't be prominently featured ahead of debit and credit card options as it is today. PayPal will cease to process card payments for eBay at that time [2020]." The company [eBay] will "instead begin working with Amsterdam-based Adyen". BTW, PayPal just recently issued a new User's Agreement. I'll bet virtually none of us (myself included) read it. ?? Quote Link to comment Share on other sites More sharing options...
peteski Posted January 4, 2021 Share Posted January 4, 2021 I use PayPal for much more than eBay payments. I receive and send money from private individuals. I also use it for payment (using my credit card) at many online merchants websites. I noticed that more and more online merchants have a PayPal option instead of leaving my credit card info on each website. I welcome that. I will use PayPal on eBay for as long as I can. I somehow can't see eBay stopping allowing buyers from using PayPal to pay the sellers. That makes no sense. Maybe eBay will no longer use PayPal just as a method for sellers to pay their eBay seller fees? Quote Link to comment Share on other sites More sharing options...
Dave Van Posted January 4, 2021 Share Posted January 4, 2021 (edited) ebay and Paypal for SELLERS has changed. Disclosure: I did NOT read the thousands of words in the new agreement....I have a life. BUT....in my opinion here is the what and why I have gotten from independent sites on the web. ebay, with it's guarantee of buyers getting ALL their money back when they do not like the item they bought. had to chase the money Paypal sent to sellers account. Now they want your bank account to 'deposit' your funds from selling items directly......very handy right? Also very handy for ebay when they need to refund a buyer.......the agreement gives them the power to WITHDRAW funds from your bank account even if you do not agree. I had 2500 feedback....almost all from selling. I will not sell on ebay any longer until this situation changes. IMHO ONLY! Edited January 4, 2021 by Dave Van Quote Link to comment Share on other sites More sharing options...
Bills72sj Posted January 4, 2021 Share Posted January 4, 2021 I like PayPal because payments can be made with out putting my card info into another database that can be hacked. It is also convenient for conducting hassle free payments with fellow modelers. Quote Link to comment Share on other sites More sharing options...
peteski Posted January 4, 2021 Share Posted January 4, 2021 1 hour ago, Dave Van said: ebay and Paypal for SELLERS has changed. Well not quite. If eBay (sellers) will no longer allow PayPal as a method of payment, that affects me as a buyer too. I might stop using eBay too. It makes no sense to eBay to exclude PayPal. Quote Link to comment Share on other sites More sharing options...
Joe Handley Posted January 4, 2021 Share Posted January 4, 2021 3 hours ago, Dave Van said: ebay and Paypal for SELLERS has changed. Disclosure: I did NOT read the thousands of words in the new agreement....I have a life. BUT....in my opinion here is the what and why I have gotten from independent sites on the web. ebay, with it's guarantee of buyers getting ALL their money back when they do not like the item they bought. had to chase the money Paypal sent to sellers account. Now they want your bank account to 'deposit' your funds from selling items directly......very handy right? Also very handy for ebay when they need to refund a buyer.......the agreement gives them the power to WITHDRAW funds from your bank account even if you do not agree. I had 2500 feedback....almost all from selling. I will not sell on ebay any longer until this situation changes. IMHO ONLY! 3 hours ago, Bills72sj said: I like PayPal because payments can be made with out putting my card info into another database that can be hacked. It is also convenient for conducting hassle free payments with fellow modelers. These are why I wouldn’t go along with that! I like having PayPal as a firewall as well as have my PayPal tied to a second checking account rather than the one my pay check goes in to. I spent enough time working retail, including behind a service desk to know that some people just aren’t trust worthy and can’t help it think that incident I had last week with that one guy trying to buy the R/C Truck I ended up selling to somebody else would have pulled that. Quote Link to comment Share on other sites More sharing options...
Dave Van Posted January 4, 2021 Share Posted January 4, 2021 6 hours ago, peteski said: Well not quite. If eBay (sellers) will no longer allow PayPal as a method of payment, that affects me as a buyer too. I might stop using eBay too. It makes no sense to eBay to exclude PayPal. True.....and ebay MAY at some point block Paypal....but as they are not the booming site they were....I don't see them limiting payment methods. IMHO only again! Quote Link to comment Share on other sites More sharing options...
Ace-Garageguy Posted January 4, 2021 Share Posted January 4, 2021 In case nobody's noticed, Google Pay is pushing hard to unseat PayPal. Google already has a stranglehold on information, and along with their toady YouTube, very obviously engages in widespread censorship. Don't give them access to your banking info. Quote Link to comment Share on other sites More sharing options...
vintagerpm Posted January 4, 2021 Share Posted January 4, 2021 EBay is moving sellers into their own system. It will be cheaper than Paypal (which takes 3% from sellers). A friend was forced into eBay's system and my wife moved voluntarily. Both love the new eBay system. Buyers can still use Paypal. Not sure of the actual mechanics of the transactions. Quote Link to comment Share on other sites More sharing options...
cobraman Posted January 4, 2021 Author Share Posted January 4, 2021 Thanks for the info guys. I'm not wanting to give them my banking info at all. Quote Link to comment Share on other sites More sharing options...
89AKurt Posted January 4, 2021 Share Posted January 4, 2021 Greedy powergrabbing corporation! I'm not into spreading my financial information around more than it is, that's what PayPal was supposed to be about. Quote Link to comment Share on other sites More sharing options...
Dragline Posted January 4, 2021 Share Posted January 4, 2021 I am not a fan of the new system. It took forever to get approved and I ended up making a seperate checking account just for it since I sell. PayPal was instant payment and I could move funds same day. Now these "Managed Payments" take days to clear. Now with shipping being so slow all my sales are in the toilet. It will pick up but right now I'm hurting a bit. Quote Link to comment Share on other sites More sharing options...
Ace-Garageguy Posted January 5, 2021 Share Posted January 5, 2021 (edited) 7 hours ago, Dragline said: ... PayPal was instant payment and I could move funds same day. Now these "Managed Payments" take days to clear. You can bet their bean counters are making interest on the "float". The longer they can delay a completed transfer, the more they stand to make. In economics, float is duplicate money present in the banking system during the time between a deposit being made in the recipient's account and the money being deducted from the sender's account. It can be used as investable asset, but makes up the smallest part of the money supply. Edited January 5, 2021 by Ace-Garageguy Quote Link to comment Share on other sites More sharing options...
Dave Van Posted January 5, 2021 Share Posted January 5, 2021 10 hours ago, Ace-Garageguy said: In case nobody's noticed, Google Pay is pushing hard to unseat PayPal. Google already has a stranglehold on information, and along with their toady YouTube, very obviously engages in widespread censorship. Don't give them access to your banking info. AGREE!!!!!! Quote Link to comment Share on other sites More sharing options...
Dave Van Posted January 5, 2021 Share Posted January 5, 2021 9 hours ago, vintagerpm said: EBay is moving sellers into their own system. It will be cheaper than Paypal (which takes 3% from sellers). A friend was forced into eBay's system and my wife moved voluntarily. Both love the new eBay system. Buyers can still use Paypal. Not sure of the actual mechanics of the transactions. Hope they still love it when a dispute ends up in a withdrawal by ebay without their consent......(they did give consent in that agreement they did not read.) Quote Link to comment Share on other sites More sharing options...
cobraman Posted January 5, 2021 Author Share Posted January 5, 2021 Nope, not going to do it. If that means I can no longer sell on the bay, so be it. Quote Link to comment Share on other sites More sharing options...
peteski Posted January 5, 2021 Share Posted January 5, 2021 2 hours ago, Ace-Garageguy said: You can bet their bean counters are making interest on the "float". The longer they can delay a completed transfer, the more they stand to make. In economics, float is duplicate money present in the banking system during the time between a deposit being made in the recipient's account and the money being deducted from the sender's account. It can be used as investable asset, but makes up the smallest part of the money supply. Have you ever seen the movie "Office Space"? Quote Link to comment Share on other sites More sharing options...
Rob Hall Posted January 5, 2021 Share Posted January 5, 2021 (edited) eBay Managed Payments is what they call it. My sister sells occasionally on eBay, and she set up a separate checking account to link to it. Said it takes a couple days to get payments into the account compared to how it was when using PayPal directly. Edited January 5, 2021 by Rob Hall Quote Link to comment Share on other sites More sharing options...
Mark Posted January 5, 2021 Share Posted January 5, 2021 Managed Payments...as in eBay manages to grab some more money off of another part of the sale... Quote Link to comment Share on other sites More sharing options...
peteski Posted January 5, 2021 Share Posted January 5, 2021 1 hour ago, Rob Hall said: eBay Managed Payments is what they call it. My sister sells occasionally on eBay, and she set up a separate checking account to link to it. Said it takes a couple days to get payments into the account compared to how it was when using PayPal directly. So how does this work when the seller still accepts PayPal? Does PayPal sent the payment for an auction to that eBay Managed Payment account, then to seller's bank? Or when seller still accepts PayPal, the payment is then totally handled by PayPal? Quote Link to comment Share on other sites More sharing options...
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