ebay's break up with Paypal and new payment method

Discussion in 'Classifieds' started by regius, Jan 20, 2021.

  1. If the IRS thinks I’m running a business on ebay then I can show them that my purchases exceed my sales...can I deduct the difference as a business loss?
     
  2. jonbuilder

    jonbuilder Call Me a Cab

    Messages:
    2,594
    Location:
    Redwood City, CA
    Paypal did request my SS last year
     
  3. broll22

    broll22 New in Town

    Messages:
    32
    Location:
    Central Ohio
    I have never sold on Reverb but have had great experience buying there. Hopefully it goes well for you, should you go that route!
     
    Edward likes this.
  4. Edward

    Edward Bartender

    Messages:
    21,984
    Location:
    London, UK
    Thanks - always good to know people have a good experience of a platform. It does seem to be more common on there to see "buyer collects" listings (which seem the kiss of death on eBay); I'm very wary of posting something fragile like a guitar, and as I don't run a car delivery is not an option.
     
    jonbuilder likes this.
  5. jeepjeep13

    jeepjeep13 One of the Regulars

    Messages:
    233
    If you read the fine print, it states that eBay can take as much money out of your account as they want and you have no recourse to get the money back since you sign something saying you won’t take them to court. eBay is getting so much worse at helping sellers! I signed up for the new system because I was forced to and even though my money should be transferred into my bank account daily, it takes about a week for eBay to release funds and a few more days for it to appear in my account. Horrible system!!
     
    Monitor, jonbuilder and Edward like this.
  6. jonbuilder

    jonbuilder Call Me a Cab

    Messages:
    2,594
    Location:
    Redwood City, CA
    I have not linked my bank account with ebay and do not think I will. I have 8 listings and ebay will allow them to run to expiration. I have one regular customer and she gave me her email so I can sell direct. Paypal is linked through a credit card and I did have to supply them with my SS this year but not my bank. From what I read here and my experience with ebay, I will try another market and or course TFL classifies. Has anyone tried selling on other sites like etsy
     
    Last edited: Jan 28, 2021
    Twism_23, Keith Garrison and JustinW like this.
  7. jonbuilder

    jonbuilder Call Me a Cab

    Messages:
    2,594
    Location:
    Redwood City, CA
    What I see is ebay has moved away from being a marketplace for individuals with something to sell like us who might sell a couple of jackets per year to an Amazon-like marketplace for retail sellers and the ebay business that sell on consignment. To increase the bottom line they are changing their business plan to match their client retail sellers. I wounder what larger seller who still handles individual items they source will do like

    [​IMG]
    vintage-haberdashers
     
    Keith Garrison and JustinW like this.
  8. eBay_Payout.JPG

    Do they think we believe that this is still how transactions are processed in 2021?

    upload_2021-2-9_11-9-57.png
     
    Rmccamey, jonbuilder, JMax and 2 others like this.
  9. PeterRocco

    PeterRocco One of the Regulars

    Messages:
    153
    Location:
    Staten Island New York
    Hi
    Just happened to me I sold two items one went to PayPal the other on hold till I sign up for the money to go into my checking account. I don't want to give that routing number out or my account number. It's for $75.00. Called and got no where. They said if I want my money I have to Sign up with my checking. I'm screwed.
     
  10. I’m a careful person with my confidential and financial information, but I also remember sending and receiving postal money orders for eBay purchases and sales. Progress usually comes with costs along with benefits.

    I do like the new system and it seems to work without issue for me so far. I’m a small-time seller and it’s been painless for me. Yes, it’s always a concern when you giving anyone account numbers, dates of birth, or SSNs, but this is where the world is. I personally like how eBay is currently working, I like it better than how it was a year ago. Now if only there were more vintage hats for sale in my size.
     
    AerGuitar and Frunobulax like this.
  11. Frunobulax

    Frunobulax

    Messages:
    16,295
    Location:
    Funkytown, USA
    I don't know why they ask; hell, they probably already know.
     
    AerGuitar and deadlyhandsome like this.
  12. oneterrifichog

    oneterrifichog Practically Family

    Messages:
    745
    Location:
    Signal Mountain, TN
    I set it up in December and sold a few things since then and even though the money comes in after I usually have shipped it has worked out well. The ebay charges are out when you receive the money so no surprise charges from ebay at the end of the month which frankly works out well. I did send them my SS# and routing# for my ebay bank account which is totally separate from anything else so no real issue for me personally there. I don't sell enough to put me over the top for income tax issues since I am retired so screw that. Frankly for Hobby selling like jackets and pocketknives it really hasn't been a big deal. The only issue is shipping cost which comes out immediately in my ebay bank account so I have to be aware there but really that's no big deal.
     
  13. AerGuitar

    AerGuitar Familiar Face

    Messages:
    67
    Location:
    Missouri
    I’ve actually had a few transactions since I last posted in this thread, and so far it seems to be working well. I haven’t had any sales over $200 yet, and hoping that when I sell a higher ticket item, it’ll go off without a hitch. I do miss the money hitting PayPal immediately. Seems like the money is hitting about 4 days after a paid sale. In the meantime, I’ve got a couple of very pricey guitars to list, and just a bit gun shy still.
     
    oneterrifichog likes this.
  14. jonbuilder

    jonbuilder Call Me a Cab

    Messages:
    2,594
    Location:
    Redwood City, CA
    Paypal is was my slush fund for jackets and the occasional hat or cowboy boots, what the wife does not see I do no need to explain. With eBay's new through the bank pay put system she sees everything:( I am doing.
     
    Steve S., Rabbit, AerGuitar and 3 others like this.
  15. JustinW

    JustinW Practically Family

    Messages:
    797
    Location:
    In The Flat Field
    EXACTLY! And I can justify new purchases like a Field Leathers jacket with "oh, it's just something I picked up cheap with a little money I had sitting in my PayPal account".
     
  16. Yamahana

    Yamahana One of the Regulars

    Messages:
    246
    Location:
    Buckeye, Arizona
    I completely relate and resemble this comment:mad:
     
    Steve S., AerGuitar and JustinW like this.
  17. AerGuitar

    AerGuitar Familiar Face

    Messages:
    67
    Location:
    Missouri
    ^^^Hmmmm.. I feel your pain.. makes me wonder who’s really behind the new payment structure with ebay... Lounger wives?? :D
     
  18. jonbuilder

    jonbuilder Call Me a Cab

    Messages:
    2,594
    Location:
    Redwood City, CA
    I think I am going to bite the bullet and sign up with the new eBay payment system. I plan to open a new checking account at my bank for the purpose of receiving funds from eBay, I will keep a small balance and transfer funds out as they come in into my household checking account. This way eBay is limited to how much of my money they have access to. I check Esty and they require linking o a bank account.
     
    deadlyhandsome likes this.
  19. Rabbit

    Rabbit Call Me a Cab

    Messages:
    2,453
    Location:
    Germany
    eBay Germany has started the same process as well. Apparently big changes like that are first implemented on ebay.com, then the other domains. Business sellers first, then private sellers.

    Independent sources seem to agree that it's best to wait until you as a private seller receive the second email from eBay. The first one merely invites you to sign up for the new system. The second one states an actual date until which you need to switch to the new system.

    There may elapse a year or longer between these two messages. For example, eBay Germany is expected (by outside sources) to finish the transition by the end of 2022 or thereabouts.

    As long as the transition of all domains isn't complete, using domains other than your own (where your account is registered) may not work for every seller. For example, listing on ebay UK as a German seller may not work for a while.
     
    deadlyhandsome and jonbuilder like this.
  20. jpk_NJ

    jpk_NJ Practically Family

    Messages:
    939
    Location:
    NJ
    Just ran into an odd issue and curious if any loungers have experienced this. I bid on / won an item, attempted to pay for it numerous times, but eBay keeps reversing the payment. So I’ll see a $200 debit and then a $200 credit. Tried via credit card, then PayPal, all the same result...
     

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