I got an email today whereby eBay is going to deposit the proceeds in my bank account instead of my PayPal account. They are asking me to verify my address and provide my phone number and social security number. I stopped at this point and did not answer or submit the information. Is this a legitimate request?

It sounds as if ebay no longer was to do business its its former ally/ step-child. I haven't made the changes yet. I don't necessarily like change...

I find that to be highly suspicious.

Neighbor lady who has been selling jewellery on there for years, said the same thing yesterday. Must be the new way.

It is and it is mandatory. You will not be allowed to list new items on eBay unless you comply. Most of the information is to hook your bank account to eBay so they can deposit. Paypal will no longer be between eBay and you. No real benefit to you and eBay now takes the cut Paypal has been.

I would seriously think twice about giving someone my bank account number and my social security number. This does not sound legit.

No it dosent

How you think a PayPal account is set up?

Scam don't do it.

How you think a PayPal account is set up?

I honestly do not know, but when I see email asking for account numbers and social security numbers, my spidey sense says SCAM!

Yes it is legit and eBay is not taking PayPal’s cut( for now). The 3-4% of PayPal’s cut is in your pocket (for now). The transaction takes 3-5 days to show up in your account. They take their fees at the trans action,( no bill at the end of the month). You also can do shipping thru eBay and no longer use PayPal. When you get notified eBay is making a payout to your bank the finale amount is your total after fees and shipping. Then the seller knows exactly what their take is, helps to figure if seller is making enough profit.
Hope this helps
I have a special bank account for this, not attached to any other accounts. I use this account for all online transactions.

Ebay changing from PayPal is real.

HOWEVER scammer like to take advantage of real events, and I would still be cautious about an email soliciting info. You didn't say how they asked you to verify your info. If they want you to send it in an email, its probably a scam. If its legitimate there should be a link to a secure page on Ebay's site. Make sure it says Ebay.com in the url bar.

https://www.imrg.org/blog/why-ebay-drops-paypal/

Back when ebay switched payments to paypal only, a linked bank account was required. I opened a new bank account just for that purpose. Only kept about 100 bucks in there. I guess if I decide to sell something on ebay, I will use that account and make sure it doesn't accumulate much.....

Interesting

Fricking ebay, always got to change things.

Even though PP took their cut, here's why I liked that set up. I could keep ebay transaction funds over on PP until the mandatory "30-days return window" was done. Yes, ebay buyers have up to 30-days to want their money back for a purchase. Didn't happen to me very often , but I was cautious not to really use money I got from ebay until either the buyer 1) left positive feedback for the deal, or 2) the 30-day window of them asking for a refund had passed. Now, ebay is going to plop it directly into my checking account but I still may have to refund it within 30 days. I also have a separate checking account from the household's main accounts to play wuith this stuff but it still makes things more complicated.

But at least I can sell animal parts on ebay. Can't do that with vegan/peta-loving facebook sales!!

Its legit google Ebays Managed Payments. Everyone calls them Mangled Payments. I had to switch and getting your money is painstakingly slow. It takes Ebay 3-5 days to put money into your bank account and then you have to send money from there to your PayPal account which takes another 3-5 days. None of this instant money in your Paypal account anymore. I HATE IT. i recently filled out one of their surveys and told them how I feel about it.
If you offer 1-3 day shipping the buyer is actually getting the item before you get your money. And I find it a bit harder to keep tract or payments also.

lumberjack391- I don't ship an item until I get paid, can ebay hassle a seller if he hasn't shipped even though they haven't gotten the money to the seller yet...?

The difference is... you contact PayPal ... some unknown person has made contact with you. If my bank ask me for any of my personal information in am email like that.... H3LL NO, don't respond. Pass your cursor over their email address address and I will bet it won't be Ebay.

Garry-

Im not sure- technically you are paid in ebays eyes, you just dont have the money yet. I think it affects your auction exposure and fee cost the longer you wait to ship. I ship in one day and havent had any problems yet, I had to switch in october. I was forced into this and really dont like it.

I got one of those emails, and some purported follow-ups, and I trashed them. I don't give out private info like that.

Jim