Ebay Payment bank account update?

[skouri1]

Has anyone does this?
Looks like they are finally breaking up with paypal. I have received emails but am always paranoid its some sort of scam (as I have received scam coupons in the past).

Anyone tied their bank account directly to ebay? Makes me paranoid.
I have some stuff to sell. Of course i'll try here first, but the larger ebay audience can be helpful.

[Spdntrxi]

yeah I did it, because I need to sell some stuff.

I didn't like it , but PayPal was tied to my account as well.. so what's the diff. My passwords are crazy anyways.

[Clean39T]

To get paid, you have to have a checking account for them to deposit to, but you can pay with whatever method you want. Is what it is. We are free to not use the platforms we don't like but there are trade-offs in every direction.

[tmf]

I did it about a month ago, and have had a few sales go through the process. So far, it worked smoothly. I got an email stating what the payout would be, and then within a couple of days it was deposited into my account. If you ship through eBay, the shipping fees still come from Paypal so they aren't subtracted from your payout (at least that's how mine works).

I think I read somewhere (probably in the initial eBay notice) that one benefit is that Paypal fees aren't subtracted from the money hitting your Paypal account. I haven't compared the before/after to see if the total fees are different, but if all the other fees stayed the same this should add a few extra dimes in your pocket.

One thing I don't like as much is I liked to keep the money from sales in my Paypal and then use that for new purchases. No bottom line difference, but I felt more like I was recycling my funds as much as possible.

[Dave]

I did it and sold a lot of bike parts soon after. Ebay sends money directly to my checking account, but payments for shipping labels are still made from paypal.

I found the discounts on UPS shipping were substantial.

[Clean39T]

Originally Posted by Dave

I did it and sold a lot of bike parts soon after. Ebay sends money directly to my checking account, but payments for shipping labels are still made from paypal.

I found the discounts on UPS shipping were substantial.

I noticed that too - huge discounts on FedEx and UPS relative to USPS.. I was only checking for relatively small packages, so not sure on the comparison to BikeFlights or ShipBikes.

[raygunner]

What's the time frame between being paid for an item you sold and the funds being deposited?

I too like having the money in my PayPal acct for my fun money.

But hey, I've been buying/selling on eBay for like 25 years and at the advent of PayPal people were very against it (lots of listings with "will not accept PayPal") but now you can't live without it!

[Mark McM]

If you're paranoid about tying ebay to your bank account, open a completely new and independent bank account, and tie your ebay account to that.

[tbike4]

Originally Posted by Mark McM

If you're paranoid about tying ebay to your bank account, open a completely new and independent bank account, and tie your ebay account to that.

^ This makes perfect sense. I didn't want my ebay sales or buys to be mixed up with everything else.

[ultraman6970]

U need to move your ebay money/ paypal money to your bank at some point... only way to do that is to link them.

[Ozz]

you might want to open a separate bank account just for ebay...I'll guess that since it is an online bank, it is probably free. Do they have any balance requirements? If not, do this.

[klasse]

Top Seller discount still happening? I finally am meeting the requirements again, I think. At first I thought FVF fees were getting jacked up, then I realized the 13% roughly includes (what used to be) the PP fee, so it's about the same.

[choke]

The one thing that I don't like about it is that the payment takes a few days to hit your bank while with PP the money was in the account instantly. It seems to me that it opens the possibility of someone scamming you if you ship fast.

They purchase the item.
You ship before the funds are in your bank.
They cancel the order while the item is in the mail.

I wonder how eBay would handle that? I suppose that the same thing could have happened with a PP payment but at least you two companies with whom you could argue your case.

I think that the best option is to add more handling days to shipping and to not ship an item until it the money has been transferred to the bank account.

[oldfatslow]

Originally Posted by ultraman6970

U need to move your ebay money/ paypal money to your bank at some point... only way to do that is to link them.

Having a separate account solely for eBay makes a lot of sense. They only have access to the funds you keep in that account. You can move money out of that account by writing a check (and mobile deposit it into your primary account).

[smontanaro]

Originally Posted by ultraman6970

U need to move your ebay money/ paypal money to your bank at some point...

I never needed to do that. I just spent what was in my PayPal on more bike stuff.