Ebay

NE5

NE5

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2 May 2012
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145
Hello, has anybody updated their ebay selling accounts via bank account rather than paypal and had any problems, or can see any potential problem ?
 
Soldato
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5 degrees starboard
My only concern was putting bank payment details on Ebay. I am happy with PayPal but as I don't sell much anyway I may just forgo selling on Ebay. PayPal works OK for buying.
 
Joined
16 Feb 2010
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North East England
My only concern was putting bank payment details on Ebay. I am happy with PayPal but as I don't sell much anyway I may just forgo selling on Ebay. PayPal works OK for buying.

Curious why? Your bank details you provided aren’t useful for anything other than putting money in your account.

As for eBay really don’t like the extra wait for my money!
 
Soldato
Joined
9 Jul 2003
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9,595
I haven't updated mine yet as haven't had any £1 final fee promos for a while, although apparently they've changed those now and you need to update your details to receive the new offers.

Guess they can now pull the money straight out of your account if someone puts a dodgy request for a refund in but you couldn't really fight those through PayPal anyway and you'd just cause yourself a lot of hassle by refusing to pay.
 

NE5

NE5

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OP
Joined
2 May 2012
Posts
145
My only concern was putting bank payment details on Ebay. I am happy with PayPal but as I don't sell much anyway I may just forgo selling on Ebay. PayPal works OK for buying.

I'm trying to work out how that works. If you sell, your payment goes straight into your bank, but if you buy you still use paypal to process the purchase ?
 
Soldato
Joined
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5 degrees starboard
I'm trying to work out how that works. If you sell, your payment goes straight into your bank, but if you buy you still use paypal to process the purchase ?
PayPal is still a payment option as a buyer together with credit card, bank account etc. I just bought some chilli sauce to test it.
 
Soldato
Joined
28 Jul 2004
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5,543
I haven't updated mine yet as haven't had any £1 final fee promos for a while, although apparently they've changed those now and you need to update your details to receive the new offers.

There's not going to be anymore £1 final fee. I had to update my payment details to get the 80% off final fee offer which works out better for me.
 
Soldato
Joined
18 Dec 2008
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Liverpool
I've heard students can still get the £1 fees but don't quote me on that...

The new managed payments system is only poor because of the delay in payments actually reaching you. I sold something the other day, it was close to 2 full days until my funds were available to pay out, it then took a further 36hrs (ebay quotes 0-4 days for this) to hit my bank account. So it could take up to a week to get your money as opposed to having instantly through Paypal, I believe they only process payments Monday to Friday too.

I can't understand why it is so slow but am guessing it's so they can get the interest.
 
Soldato
Soldato
Joined
26 Oct 2013
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9,714
Location
Leicester
I've heard students can still get the £1 fees but don't quote me on that...

The new managed payments system is only poor because of the delay in payments actually reaching you. I sold something the other day, it was close to 2 full days until my funds were available to pay out, it then took a further 36hrs (ebay quotes 0-4 days for this) to hit my bank account. So it could take up to a week to get your money as opposed to having instantly through Paypal, I believe they only process payments Monday to Friday too.

I can't understand why it is so slow but am guessing it's so they can get the interest.
It's also so if a buyer has an issue they can insta deduct the disputed amount from your payout, annoying really
 
Soldato
Joined
9 Jul 2003
Posts
9,595
If it takes several days for the money to come through, do you wait until its in your bank account before you post the item or just trust ebay to pay it in?
 
Associate
Joined
23 Sep 2019
Posts
42
It feels like a backwards move imo. Gone from instantly being paid to waiting days and days, especially as they don't pay out on weekends or bank holidays. If you have a long dispatch time it will just put off buyers, so you end up sending items out hoping the buyer doesn't complain for some silly reason and get the payment frozen. ebay fees are already high and its just them trying to grab even more of the pie.

I am surprised Paypal and just going to sit back and accept losing 2.9% on all ebay sales, plus the amount of money from that just sitting in peoples accounts that they gain interest on. Paypal have the payment system with everyone already registered so I would imagine they could start their own ebay competitor relatively easily.
 
Caporegime
Joined
21 Jun 2006
Posts
38,372
It feels like a backwards move imo. Gone from instantly being paid to waiting days and days, especially as they don't pay out on weekends or bank holidays. If you have a long dispatch time it will just put off buyers, so you end up sending items out hoping the buyer doesn't complain for some silly reason and get the payment frozen. ebay fees are already high and its just them trying to grab even more of the pie.

I am surprised Paypal and just going to sit back and accept losing 2.9% on all ebay sales, plus the amount of money from that just sitting in peoples accounts that they gain interest on. Paypal have the payment system with everyone already registered so I would imagine they could start their own ebay competitor relatively easily.

PayPal don't need to do anything they lost eBay so what. Everyone else still uses them.

PayPal will make more from PayPal credit than worry about entering a new market to get that few percent lost from eBay.

Plus they can likley reduce staff now that eBay is gone I bet 99% of their complaints is from eBay customers
 
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