What's the deal with selling things on Ebay these days?

I imagine they do now - they encourage it (as do most platforms). When I joined cashing out with a check was a prominent option, but now they almost bury it as they discourage this. Either way, going forward E-Bay itself wants a bank account (and they own PayPal anyway) so it's all moot.

 

Wrong ...Paypal and EBAY have been separate companies for MANY years now. Guess you don't follow the stock market??

 

Ebay is doing what the Federal Government and the IRS require.

 

Fascist sympathizers! Adherents? Enablers?

 

Yup.

 

I got my notice from eBay today that my seller earnings no longer will be deposited into my PayPal account even when the buyer pays by PayPal. This is so disappointing. I considered my PayPal account to be my fun money to buy mostly music (and to not have to answer any questions from the wife about how much I was spending. Not that the wife is an ogre or anything. I just liked having a little privacy and control in one small part of my life, which buying and selling using PayPal allowed).

This is doubly stupid on eBay’s part. I am not going to list on eBay if the seller’s money just goes into the family general fund and I am not to buy anything there once my PayPal balance runs out. Fortunately, I can get paid via PayPal selling in the forum, so I can get a little money to play with there. A lot of my PayPal money is from selling off a comics collection, so maybe I can find another place to sell where the money will go into my PayPal account.

I know that PayPal and eBay are two separate companies and have been for some time, but clearly they could have continued whatever contract they had with PayPal to remit seller earnings to the seller’s PayPal account. I have to assume that eBay figures this will benefit eBay in some way, but I think I am not the only one who is going to give up on them with this change.

I am a oldster and have seen so many good things disappear in the name of progress. Here we go again. Bummer, dude.

 

There are several places you can open a free account which will collect eBay deposits and send you a debit card you can use most anywhere to withdraw the cash or buy things as you wish. I haven't been switched to the new eBay payment scheme yet, but I have an account at one of them (Chime) all set up and ready to go when they do. That wasn't the issue for me, it's that they want to sit on the money before they send it.

Obviously it will benefit eBay to receive all the payment fees themselves rather than give them to Paypal.

 

I'm wondering why I haven't got this 'no more paypal' email. Maybe they're doing it by how much you sell?

We shall see. And yes, this is a major bummer. I have a two thousand dollar science fiction model collection I was going to sell this year.

 

With me, I became aware of the change when I was going to list a few items a few months ago. EBay wouldn’t let me list without linking a bank and it was no big deal to forgo doing the listing. Months later, I am considering setting up a free simple checking account strictly for eBay stuff as I am getting to the point I want to thin out a lot of my book collection. I certainly am not going to link our families account w/thousands of dollars.....

 

I've also never transfered sales money to my bank account. It's always stayed in my paypal account as a slush fund.

This is me exactly.

 

I’ve been selling house hold goods, CDs, books, vintage clothing since 1998 on eBay, the irs now wants to track sales of 20,000 yearly with a 1099. eBay broke with PayPal I called to ask.. it’s no big deal your a garage sale selling used goods out of your home, the problem now is money gets transferred around 5 days later than PayPal would deposit it yet if it’s a hobby and your listings are free it’s no big deal just not an immediate deposit into your account.
Sales tax has been taken out for a few years now , it’s a dollar or so less with eBay managed payments.

 

I got the notice of doom effective 5/21 and switched over one of my selling accounts today, pretty painless.

 

They gave the option of switching, but not having to fill in your social until you sell something.

 

The 1099 requirement doesn’t mean what some think it does. If you have made a profit and didn’t receive a 1099, the income needs to be reported. If you receive a 1099 and didn’t make a profit, you don’t have taxable income, a 1099 doesn’t change that. If you don’t know, you should learn to keep track, with or without a 1099.

 

If you have to fill out a schedule C because of getting a form 1099, you can write off the cost of goods that you sold, and you don't always have to have a receipt. Many cash transactions like a garage sale or record swap meet don't involve a written receipt, just keep a log of how much you spent at each sale (when and where, too), I don't know of any second-hand dealers who have been challenged on that. I haven't.

 

Aside from the roughly 2% higher fees to sell CDs I have no issues with Managed Payments, I just adjust the buy it now price upward when calculating the fees compared to Discogs 8+3. I'd say the best thing about it is not losing 3% when refunding someone, for some reason international buyers mash the buy it now button with global shipping and only afterwards realize the customs/shipping cost even though this is displayed in the checkout screen before they hit pay. I had to do this with a $380 box and thankfully all was refunded back except $0.30.

I've also been messing around with auto buying FZROX since Ebay deposits the money into Fidelity very quickly and I don't have to move money around with Fidelity's system. Pretty neat, but I won't be doing this any significant amount of money.

Ebay does need to step up the quality of their Android app. In the last year Paypal's has now approached the levels of the best banking apps while Ebay lags behind.

I'd say overall the convenience of managed payments has been worth it.

 

They changed my effective doom notice date from 5/28 to 5/27 (yes I took a screen shot}. Typical ebay, every employee has a phd in creative writing, lol.

 

I have not sold on eBay in a while. I attempted to sell an item just now. I updated my information but did not elect to provide banking account. They will still let me list. Presuming it sells and I get paid via paypal, how will I get my money if I do not furnish them with a bank account? Will they still disperse to my Paypal account?

 

I suspect they will not, and if it sells they will then hold the dough until they extract the information they need to pay you. You could ask them.