PayPal and eBay

slider23

I get a notice yesterday from eBay to continue selling that I have to connect a bank account to eBay, so that, payment of fees, charges and expenses can be managed directly by eBay. No more PayPal payments processing fees or separate monthly fee payments. I sell a few coins on eBay as part of my collecting but i am not sure that I want eBay with direct access to my bank account.

Today I get a notice from PayPal that they are putting a hold of a recent eBay coin sale of $600 because of account inactivity. I have over 30 transactions since the first of the year, but I have not sold any coins in the last 30 days. In the last 5 years I have sold and purchased over 60K using PayPal, but still get a hold for a $600 sale.

I guess the good news is that effective May 21st PayPal won't be able to put a cash hold on a sale of a coin.

Kurisu

Get a Credit Union checking account...they often have no fees and no minimum balance.
Or open another savings account with your own bank and use that...Assuming ebay doesn't need it to be a checking account. I don't think it does.

AUandAG

I've used Paypal as a bank and I guess that is what Ebay, who owns Paypal, does not like. I for one will likely quit ebay entirely as I too do not want them access to any bank account that I have. I've been thinking of opening a new account at a new bank just for the purpose of ebay. Wouldn't this work?

bob

MasonG

@AUandAG said:
I've used Paypal as a bank and I guess that is what Ebay, who owns Paypal, does not like. I for one will likely quit ebay entirely as I too do not want them access to any bank account that I have.

eBay doesn't own PayPal. But if they did, wouldn't they have access to your bank account?

jesbroken

@AUandAG said:
I've used Paypal as a bank and I guess that is what Ebay, who owns Paypal, does not like. I for one will likely quit ebay entirely as I too do not want them access to any bank account that I have. I've been thinking of opening a new account at a new bank just for the purpose of ebay. Wouldn't this work?

bob

I did that when I had to first provide an account for Paypal. It's a small checking account with no autopay bounced check by the bank, that I only use for that purpose.
Jim

derryb

Paypal's hold will be released when it appears customer has satisfactorily received the coin. Although a hassle it adds to their protection of their customers.

Ebay will have direct access to your linked bank account strictly to deposit your proceeds. If worried do as advised earlier and get a dedicated bank account.

OPA

suggest you read the below thread to familiarize yourself with managed payments. ebay sold paypal more than a year ago, they have nothing in common any longer.

https://forums.collectors.com/discussion/1055327/ebay-managed-payments#latest

jt88

Recently a buyer bought three coins from me and then ten minutes later he wanted to cancel them. Ebay did not provide option to do partial refund so I have no choice but to cancel them. I lost all the PayPal fee on them. I hate PayPal.

slider23

With eBay managed payments paid with PayPal, on a refund does the seller absorb the PayPal fees?

jmlanzaf

@OPA said:
suggest you read the below thread to familiarize yourself with managed payments. ebay sold paypal more than a year ago, they have nothing in common any longer.

https://forums.collectors.com/discussion/1055327/ebay-managed-payments#latest

EBay spun off PayPal more like 7 or 8 years ago

jmlanzaf

@slider23 said:
With eBay managed payments paid with PayPal, on a refund does the seller absorb the PayPal fees?

I don't believe so. The payment is processed by eBay not Paypal

derryb

@jmlanzaf said:

@slider23 said:
With eBay managed payments paid with PayPal, on a refund does the seller absorb the PayPal fees?

I don't believe so. The payment is processed by eBay not Paypal

with ebay managed payments the seller does not pay a paypal fee. He pays a lower processing fee to ebay. Not sure how PP collects any fees when a buyer uses PP to pay a managed payment seller. If not we may eventually see PP no longer processing payments from ebay buyers to ebay sellers.

Davideo

@jt88 said:
Recently a buyer bought three coins from me and then ten minutes later he wanted to cancel them. Ebay did not provide option to do partial refund so I have no choice but to cancel them. I lost all the PayPal fee on them. I hate PayPal.

It seems like your ire would be better directed at the (non) buyer who cancelled after 10 minutes.

WQuarterFreddie

@Davideo said:

@jt88 said:
Recently a buyer bought three coins from me and then ten minutes later he wanted to cancel them. Ebay did not provide option to do partial refund so I have no choice but to cancel them. I lost all the PayPal fee on them. I hate PayPal.

It seems like your ire would be better directed at the (non) buyer who cancelled after 10 minutes.

Disagree entirely. People have a right to cancel their order and in this case it was within 15 minutes of their purchase.

If Ebay doesn't refund the seller all of the fees then their system is broken and the ire SHOULD be directed at them!

jmlanzaf

@WQuarterFreddie said:

@Davideo said:

@jt88 said:
Recently a buyer bought three coins from me and then ten minutes later he wanted to cancel them. Ebay did not provide option to do partial refund so I have no choice but to cancel them. I lost all the PayPal fee on them. I hate PayPal.

It seems like your ire would be better directed at the (non) buyer who cancelled after 10 minutes.

Disagree entirely. People have a right to cancel their order and in this case it was within 15 minutes of their purchase.

If Ebay doesn't refund the seller all of the fees then their system is broken and the ire SHOULD be directed at them!

Disagree. A purchase is a contract to buy. Ebay is about the only payment processor who does refund the processing fees. There are some that actually charge a second fee to do the refund because it counts as a second transaction.

If you enter into a contract, honor it or compensate the other party for breaking it. You've got lots of opportunities to simply NOT hit Buy.

AlexinPA

I got rid of PayPal a while ago and I don't buy anything from EBay. Most of the coins I would be interested in have a 'Details' grade, are way over priced and look pretty bad.

jt88

On eBay I see all as “buy it now” with PayPal to pay right away. So is that means I still use PayPal under managed payment? I am confused how this work and what roll PayPal play in managed payment. By the way I just signed up for managed payment

ctf_error_coins

MP is making a money grab from Paypal.

OPA

@jt88 said:
On eBay I see all as “buy it now” with PayPal to pay right away. So is that means I still use PayPal under managed payment? I am confused how this work and what roll PayPal play in managed payment

It may indicate BIN's with "PayPal" on the sellers listings, however now, all BIN's are processed through ebay.

jt88

@OPA said:

@jt88 said:
On eBay I see all as “buy it now” with PayPal to pay right away. So is that means I still use PayPal under managed payment? I am confused how this work and what roll PayPal play in managed payment

It may indicate BIN's with "PayPal" on the sellers listings, however now, all BIN's are processed through ebay.

Thanks for the answer

BuffaloIronTail

Of course, I ain't Ebay.

But i've never had a problem with PayPal or its services.

Pete

BAJJERFAN

Will having to have a bank account affect buyers or will we still be able to pay with PP?

Jim703

I haven't had any problems buying on ebay lately with paypal. My decision to give up selling there rather than provide them personal and bank account info hasn't affected my ability to be a customer.

WAYNEAS

@MasonG said:
eBay doesn't own PayPal. But if they did, wouldn't they have access to your bank account?

>

Please read this as eBay did own PayPal at one time.
>
PayPal - Wikipedia
https://en.wikipedia.org/wiki/Paypal

PayPal Holdings, Inc. is an American company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper methods like checks and money orders. The company operates as a payment processor for online vendors, auction sites, and many other commercial users. It charges a fee in exchange for benefits such as one-click transactions and password memory. Established in 1998 as Confinity, PayPal had its initial public offering in 2002. It became a wholly owned subsidiary of eBay later that year, valued at $1.5 billion. In 2015, eBay spun off PayPal to eBay's shareholders. The company ranked 204th on the 2019 Fortune 500 of the largest United States corporations by revenue.
Wayne

MasonG

@WAYNEAS said:
Please read this as eBay did own PayPal at one time.

Yes, that is correct. But they don't now, which is what I said earlier in the thread.

Connecticoin

I am hoping this means you get all your fees back if you have to issue a refund instead of Paypal stealing 3% for nothing.