OT: ebay's Checking A/C requirement

CollectorBob

I was thinking of selling off some of my duplicate Portugal coins while demand was still hot. Towards this end I started setting up an Ebay Seller's account, but got turned off when I was asked to enter Checking Account details, in addition to my Credit Card details.

How do you handle this:

- Provide the required info
- Opt for the "ID Proof" option
- Open a new Checking Account solely for this purpose

Sorry if this is grossly off-topic for this forum.

Thanks.

--Boman.

Garneteye

<< <i>Open a new Checking Account solely for this purpose >>



Use this account only for ebay/paypal and "sweep" your money out to another account to prevent chargebacks

AuldFartte

<< <i>

<< <i>Open a new Checking Account solely for this purpose >>



Use this account only for ebay/paypal and "sweep" your money out to another account to prevent chargebacks >>



That is precisely what I've done. Excellent advice

sliderider

<< <i>

<< <i>Open a new Checking Account solely for this purpose >>



Use this account only for ebay/paypal and "sweep" your money out to another account to prevent chargebacks >>



Unfortunately it doesn't prevent chargebacks. If a chargeback comes and paypal can't recover the funds from your checking account, they put a negative balance on your account and start sending threatening letters until you bring your balance back to zero again. Needless to say, you can't use your paypal account for anything else during that time, either.

cowpens

Unfortunately it doesn't prevent chargebacks. If a chargeback comes and paypal can't recover the funds from your checking account, they put a negative balance on your account and start sending threatening letters until you bring your balance back to zero again. Needless to say, you can't use your paypal account for anything else during that time, either.


Setting up an Ebay only checking account and sweeping the balance may still may be well worth it, depending upon the reason for a chargeback. As the seller if you send a coin you sold through Ebay/Paypal outside the US and the buyer reports the coin didn't arrive Papal will chargeback the seller on or about 30 days after the date of the transaction. The buyer does not have to prove he hasn't received the coin, just make the claim and the seller is put in the position of having to immediately prove the buyer's receipt or accept a chargeback. Read your Paypal terms of service and you will see this. If you shipped the coin registered or insured parcel post the USPS will take several months to verify if the coin was or was not signed for. By preventing the chargeback from going through immediately you, at least, have some time to verify delivery and possibly obtain information to reverse a chargeback by a scam artist who knows how to work Paypal loopholes.

sliderider

<< <i>Unfortunately it doesn't prevent chargebacks. If a chargeback comes and paypal can't recover the funds from your checking account, they put a negative balance on your account and start sending threatening letters until you bring your balance back to zero again. Needless to say, you can't use your paypal account for anything else during that time, either.


Setting up an Ebay only checking account and sweeping the balance may still may be well worth it, depending upon the reason for a chargeback. As the seller if you send a coin you sold through Ebay/Paypal outside the US and the buyer reports the coin didn't arrive Papal will chargeback the seller on or about 30 days after the date of the transaction. The buyer does not have to prove he hasn't received the coin, just make the claim and the seller is put in the position of having to immediately prove the buyer's receipt or accept a chargeback. Read your Paypal terms of service and you will see this. If you shipped the coin registered or insured parcel post the USPS will take several months to verify if the coin was or was not signed for. By preventing the chargeback from going through immediately you, at least, have some time to verify delivery and possibly obtain information to reverse a chargeback by a scam artist who knows how to work Paypal loopholes. >>



Yes, it's true that you won't end up getting screwed on that one sale, but you also lose your paypal privileges until you give the money back. So is it worth losing the use of the most popular ebay payment method, even if you are right?? Paypal isn't known for their patience in deciding matters. Try telling them you need 2-3 months to get a copy of the signature from the post office and see what they say to you. Once they allow the chargeback to happen, they close the case and even if you come up with the evidence of receipt two or three months later, they don't care. They have already ruled on the matter.

coinpictures

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cowpens

>>Yes, it's true that you won't end up getting screwed on that one sale, but you also lose your paypal privileges until you give the money back. So is it worth losing the use of the most popular ebay payment method, even if you are right??<<

I guess that depends on the amount of the sale/chargeback and if it truly turns out to be a fraudulent claim.

>>Paypal isn't known for their patience in deciding matters. Try telling them you need 2-3 months to get a copy of the signature from the post office and see what they say to you. Once they allow the chargeback to happen, they close the case and even if you come up with the evidence of receipt two or three months later, they don't care. They have already ruled on the matter. <<

I also know this to be a fact and it is unfortunate Paypal has not come up with a better solution as sellers deserve the same protection that buyers are afforded.