EBay sellers

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

I usually ship within a day of receiving payment as well. I wonder why they're rolling this out incrementally? No word about this to me in October but no I get it. Ebay sure likes to richard with their sellers. I had a couple of instances early this year, when USPS was changing the size of their pakages where their "balloon" rates would apply, where I had to cancel a couple of sales. That downgraded my seller's profile and ebay cranked up my fees by about 50% for about 6 months. I also dislike how they count shipping costs a person has charged a buyer as "revenue". No, not really, almost all of that is actually used for shipping, so don't count that as "made money" for me.

I think at one time ebay thought they were going to get a lot of big retailers selling through them, but I think Amazon has taken that wind or the larger retailers figured out their own on-line sales. Ebay would do better in upholding their mom and pop type of sellers. Then again, can ebay survive long term in the world of Amazon...?

I miss early years ebay style Everything

Ninny , what does your former banker self think ?
Scam i think.

If you do the math the new savings isnt hardly worth the convenience that Paypal was to me. Ebay must be making some good interest in the float time it takes to get your money. I always said them taking fees out of the shipping price was criminal but printing your own labels helps immensely.

As for the OPs original question.....I cant remember if they asked for my SS number when I changed over in October, but Im sure I gave it to them at one time or another.

I was one of the first 1,000 or so sellers to sign up for managed payments over a year ago. It is a pain that you cannot access your money the next day like Paypal but tracking profit and loss is a lot easier using one outlet instead of two. As being charged fees for shipping, you can thank the crooks who used to sell a $50 item for $10 and $40 shipping to get around paying fees.

NO, do not reply to any unsolicited emails such as this.

Contact Ebay directly with this question. NOT via the email you received.

I think it is legit.

Don't click the link in the email. If it's legitimate, log into your ebay account by going to ebay and set up the account there.

Asking for SS# seems fishy just to make a deposit into your bank account.

More hassle and less service. Ebay doesn't do anything unless it benefits them. I'm taking some time away from ebay and I hope others do to. Maybe they will wake up. They just keep making things harder on the small seller. I only have one bank account. Imagine what a pain it's going to be keeping my checkbook balanced with them putting little dabs of money in every few days.

I did not respond to the email I got. I did check eBay through my seller account and saw where they are requesting the change by the end of the year. I guess I have no choice so I made the change. As expected it looks as if I am getting the shaft. They claim many sellers fees will be reduced under the new system. I am not a big time seller, I think my fees will actually increase. If the seller does thousands of dollars on a monthly basis their fees will be reduced a little bit. If I read things correctly I now will be paying fees on the sales tax collected.

eBay taking there 10% on the shipping fees sounds harsh , but if you figure your cost if you buy shipping thru one of the different carriers it will cost you more than ebays 10%. It’s also more convenient to print shipping label direct from your eBay account.
Everything you do has costs involved, you just have to use math to figure it you make it worth your time.
I see people selling stuff on eBay that is below their cost of production, let alone paying their self a decent wage.
No one should ever pay their self less than $20-$30 an hour.

you must not trap or farm much. I'd be happy with minimum wage for the hours that i put in..

They last few shipping labels I printed through ebay didn't save me squat. It would say "you saved 4 cents by using ebay labels" or something to that effect. It use to be a lot better than that. Not sure it's worth the cost of ink and paper to save 4 cents.

Look out, with you giving them your Social Security number then they can send you IRS form 1099 for all your sales. Which means you must now report that as income.

X2

I don't think ebay would ever ask for that information. I wouldn't give it.

Not a problem, I report my eBay sales on my income tax return.

I get fake emails from eBay all the time asking for personal information. They are scams. If you want to give them personal information log into their site not from an email.

That is what I did Grandpa Trapper, I answered their questions by using their site.