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I've just had to add my bank account details to my ebay account, and to be honest feel ive been forced into this without fully understanding the reasons why.
Previously(as we all know) you sold something on ebay or you bought something on ebay, it came via your payal account, or through that back to your bank account, if no funds were available from a paypal balance.
So does this mean if i sell stuff, ebay pay the funds into my bank, but if i buy then paypal takes the money from my bank 😕 I know theyre separate companies(although owned by ebay as the parent company) but it just seems like an awful faff around.
Or is it if I buy its ebay thats taking the money from my bank account instead of paypal, this bit they've not explained well but makes me ask, Do I actually need a paypal account ?. Or will I be best keeping the paypal account, for if I'm buying goods outside of ebay - ie buying an Eames chair shortly and paying with paypal. So best retain the account as a method of payment rather than via the bank/debit/credit card 😕
I hate all this banking stuff, i was always rubbish at understanding the ins and outs of it all. I just want to feel my bank is secure and the more faffing about at he behest of these companies makes me not feel that.
If anyone can confirm that its now ebay doing the banking for buy/sell and not paypal, and you best keep paypal as a payment method for outwith ebay purchases, i'd be happier knowing that.
Ta.
When you sell the money goes straight into your account. This saves you PayPal fees, but the eBay percentage has gone up so its about the same. If there is a £1 selling deal on (like right now!) then you only pay £1.
When buying you can choose at checkout. Paypal is still an option or you can have the money come from an account or credit card.
As has been said PayPal is completely separate to eBay now so they’ve had to find some other way of dealing with payments.
A buyer can now pay by PayPal OR directly with a bank card to eBay. This is good for buyers obviously.
However for sellers I’ve found it to be a nightmare and not as good. Basically if someone pays me by card it goes into my eBay account and I can select a frequency as to when I get it paid into my bank account. It does not go directly into it. However it isn’t instant, it takes a couple of days to get to your bank account at best. It also seems that payments directly with a card take some time to “clear” into my eBay account. So the whole system is a lot slower for sellers.
One thing I have done as a seller is remove the PayPal option of payment to me. That means I won’t get stung with PayPal fees and being as I only ever list on the £1 special offer days I only ever pay £1 to sell anything.
One thing I have done as a seller is remove the PayPal option of payment to me. That means I won’t get stung with PayPal fees and being as I only ever list on the £1 special offer days I only ever pay £1 to sell anything.
Smart move! I recently some low value items and got whacked with the ebay fees that made it less worthwhile but then it seems I got hit by PayPal as well. I may as well have chucke the stuff in the bin.
Interesting thread for me as I have never sold anything on eBay. As a buyer however I would only buy from a seller that allowed PayPal for the protection it affords the buyer for purchases under £100, or am I missing any eBay payment protection system?
I’ve not looked into it closely but the eBay buyer protection is what counts, that’s what has always protected you at first. So should be fine.
For some reason I have an eBay “concierge” status now, despite only having about 700 feedback but I have been on there a long time. I’ve found it to be very useful and as long as you follow the rules they have sorted me out very quickly a number of times. For example I had a buyer back out so I relisted and it sold but I got stung for the selling fees despite it being initially on a £1 offer. I contacted them and they saw what had happened and refunded me the fees as they could see I had been messed around - they didn’t have to as it was relisted outside the £1 offer period.
Protection info here : https://pages.ebay.co.uk/ebay-money-back-guarantee/
Doesn’t mention PayPal, which is won’t as they aren’t linked to eBay any more.
I take it immediate payment into your ebay account means you can send item straight away (you don't have to wait to see the money hit your bank account)?
I've gone a bit off ebay having read the scams and how ebay will near always side with the buyer.
I've got some speakers to sell - probably £1k (Rogers LS3/5A) but looking at trying out local selling on Nextdoor first. If that brings no joy then ebay but cash on collection only.
I had the same concerns recently dyna-ti, but as you say, no real choice in the matter. It took about 5 days for the money to land in my account, which seems pretty slow. It’s probably safe enough though.
So how is the change better for us now.....?
If you sold stuff when they had the £1 offer you only paid that plus 5% paypal fee yes?
And now it's 12.8% +30p.....
Haven't changed it for our benefit have they, unless I'm not seeing it right?
If you sell on a £1 max deal then you pay £1. Anything selling over about £6 and you are ahead. Its much better for expensive items. Sell for £400 and you get £399 in your bank.
As a buyer however I would only buy from a seller that allowed PayPal for the protection it affords the buyer for purchases under £100, or am I missing any eBay payment protection system?
Has always been eBay protection but you can only raise a case for 30 or so days. Paypal allowed you to raise a case up to 90 days afterwards.
What I don't know is if I buy using PayPal with now pays eBay rather than the seller where do I stand if opening a Paypal case. Is the case now against eBay rather than seller?
Haven’t changed it for our benefit have they, unless I’m not seeing it right?
I don't think the change was made to benefit sellers.
I don’t think the change was made to benefit sellers.
On a £1 offer its much better, outside that its about the same. The only negative I can see is I now don't have "Paypal money", ie not real money, so I'm allowed to spend it on toys.
I'm Sure rates will drift and eBay will tweak things in their favour but right now its pretty good
Paypal and Ebay split years ago IIRC. This is just Ebay seeing PP taking a 3.5% cut and thinking 'we could have that for ourselves', only they've hidden it in the increased percentage for their cut.