Ebay & Paypal

[Gary Sayers]

Just had an email from ebay to inform me that if I wish to continue to sell on ebay, I have to update my account information by the end of May. The update is basically to provide my bank details to them, as they will no longer be using Paypal for payments. As a buyer, I can continue to use paypal until 2023.

Well, I hardly sell anything these days on ebay and I guess I won't be doing so in the future now, as I am not going to provide my bank details.

Ebay said that they have done it to 'enhance the buying and selling experience' and there would not be any paypal fees in future. True, except that ebay's final value fees under the new setup will be 12.8% + £0.30p, where previously it was just 10%. Paypal fees were 12.9% + £0.30p.

I'm hoping that after 2023, ebay will still allow you to buy with a cheque.

[Lee Mannering]

I also have a few concerns about disclosing bank details anywhere for that matter. I will be praising the day when our UK film fairs resume and we can see our film friends face to face, interact and enjoy our buying and selling experiences as we did before along with some excellent film screenings in the obligatory cinema even if its just on the wall!

I'm estimating that after the Covid lock down year or so we will value our movie events a whole lot more than we did before.

[Leonard Goss]

Are you sure the email is from eBay and not a scam? Was it sent to your eBay messages as well?

[Ed Gordon]

Good article that goes into details here: https://www.salehoo.com/blog/ebay-br...ff-with-paypal

Paypal is widely used as a payment option by a large portion of online businesses, so I doubt that Ebay will be able to ignore Paypal after 2023.

[Gary Sayers]

Leonard - yes, it was in 'my messages' in my ebay account as well, so definitely from ebay.

Ed - hopefully by 2023 they will have had a re-think.

[Chip Gelmini]

This can't be right. Wasn't there a buyout or merger of the two companies? Whereas PayPal became part of EBay or vice versa? Who bought who or whatever?

[Brian Fretwell]

I think that EBay started Pay Pal, but later had to sell it.

[Leonard Goss]

Leonard - yes, it was in 'my messages' in my ebay account as well, so definitely from ebay.

Ed - hopefully by 2023 they will have had a re-think.

Ah, okay Gary, just a thought. Len.

[Ed Gordon]

This can't be right. Wasn't there a buyout or merger of the two companies? Whereas PayPal became part of EBay or vice versa? Who bought who or whatever?

It turns out to be more convoluted than that:

Formation of PayPal


PayPal was formed in 1998 as Confinity by Ken Howery, Luke Nosek, Max Levchin, Peter Thiel, Yu Pan, and Russel Simmons. In its early stage, the company focused on developing software security for individual clients. In early 2000, the company began developing and testing an online money transfer system, which attracted the attention of Elon Musk, the founder of X.com, a company that offered online banking services. In March 2000, Confinity and X.com merged, and a few months later, Musk decided to terminate the banking services of X.com and focus on financial transactions. In 2001, X.com was renamed as PayPal. The company developed rapidly during its development stage due to its referral programs and low charges, and quickly registered five million new clients between March and the summer of 2000. In 2002, PayPal floated shares in the NASDAQ, and within the same year, its share price grew by 55%.

Link: https://www.worldatlas.com/articles/...ed-paypal.html

[Gary Sayers]

To be honest, ebay have already killed it for me with their new seller hub. I gave it a go and relisted a few old magazines and DVDs but found the new layout really hard going.

After a couple of days struggling to see my listing in 'my ebay', let alone monitor view numbers and any bids, I was so frustrated with it all that I ended my listings today and will only buy and not sell on ebay in future.

[Melvin England]

To be honest, ebay have already killed it for me with their new seller hub. I gave it a go and relisted a few old magazines and DVDs but found the new layout really hard going.

Oh how SO TRUE ! I am completely with you on this one, Gary. Once upon a time they generally just wanted a brief description and condition. Now, to put it slightly crudely, they want to know the back end of a fart ! Far too much information now required......more hassle. Another example of a system created by a computer programmer with a computer programmer head on him, instead of a system sympathetic to us mere mortals, or, should I say, the people who actually USE the system!

Undoubtedly the best "era" was about 5 or 6 years ago when one could bulk list and they increased the free photo's to 12 instead of 3..... and you had 100 or so free listings if the staring price was 99p. Happy memories..... and it prevented all the dross that has been commented on in this forum previously.

On a slightly different angle, is anyone suffering from "old screens" when navigating through "my Ebay" ? What I mean is, for example, I go into My Ebay and request the "Sold" items and the list comes up of who has already paid, waiting for shipment, and those I am still waiting for to pay. After requesting to look at one of these specific listings, I then press the return arrow at the top left hand side of the screen to be brought back to the full list. What I actually get is the screen as it was maybe a couple of weeks ago which is now out of date. It does happen with other lists too.

I would welcome your comments.

[Leonard Goss]

Just had an email from ebay to inform me that if I wish to continue to sell on ebay, I have to update my account information by the end of May. The update is basically to provide my bank details to them, as they will no longer be using Paypal for payments. As a buyer, I can continue to use paypal until 2023.

Well, I hardly sell anything these days on ebay and I guess I won't be doing so in the future now, as I am not going to provide my bank details.

Ebay said that they have done it to 'enhance the buying and selling experience' and there would not be any paypal fees in future. True, except that ebay's final value fees under the new setup will be 12.8% + £0.30p, where previously it was just 10%. Paypal fees were 12.9% + £0.30p.

I'm hoping that after 2023, ebay will still allow you to buy with a cheque.

I received a similar message today. Like you Gary, I have decided not to give my bank details and my eBay selling days are over. I'll only be buying from now on.

[Maurice Leakey]

I don't sell on eBay.
I'm only a buyer with "Buy It Now". Hopefully there will still be sellers for the foreseeable future.

[Mitchell Dvoskin]

eBay acquired PayPal several decades ago and made it their payment service up until a group of activist investors forced eBay to sell it off for the short term profit. eBay's agreement with PayPal ended last year, and they have been slowly moving sellers over to their "Managed Payments" program ever since.

The problem with "Managed Payments" here in the USA is not so much providing them with banking information, but with that comes the forced binding arbitration, and here in the USA, your Social Security number which is almost essential for identity theft. In addition, they hold on to your payment for 3 to 5 days before transferring it your bank account, and they are using ADYEN for a payment processor, giving my financial information to a foreign entity. I am not saying they are doing anything bad, I am saying I don't feel comfortable with it.

[Osi Osgood]

Mitchell, I am in total agreement with you. There is no need to hold onto payments for 3 to 5 days, unless the "trace interest" is enough to make it worth they're while, with PayPal, you could actually access your money the same day. I will be ending selling with eBay very soon as well except for buying, but when they began they're managed payments, I started a separate account just for eBay access.