Adding bank account gives ebay direct debit authority

[blackgoose11]

Just fired up ebay app and saw the notice about changing payment setup. I went through the setup handing over more details to ebay until I got to the last step of adding my bank account so I can get paid. But in small print it says I am giving ebay direct debit authority to take money out of my account. Given they intent taking my sale payments and waiting two days before paying out and taking even more fees why would they need the ability to dip into my bank account? I have no interest in giving that level of access.

[wide-world-of-stamps]

As curraone said, you still need to post within your handling time.

eBay considers the item paid for once they (or Adyen) receive the payment, even if they haven't remitted it yet, or it takes a couple of days to reach your bank account.

[curraone]

In the end, it is just easier to roll with it, if we want to continue selling on ebay.

All it really means is that you should  build up a cash flow - in paypal for example (because you can still pay for your labels with paypal) - so you can post your item without waiting for the money from ebay.     It requires a small amount of trust, if they tell you they have the money, it is okay to post - and you will get your money in their own good time.

I don't know why the bigger sellers are struggling with this - it is only a matter of cash flow - and indeed, most people pay for postage labels in Aust Post by credit card.     Then when you get the money, you remember to pay off your credit card.

And if cash flow is a problem, don't choose weekly payments, chose daily.

[blackgoose11]

Seems more like rolling over than rolling with. I only sell occasional stuff but I have been on the platform for a long time. I've watched ebay's fees grow and grow and grow, fees on postage, and this latest change increases fees yet again as well as exercising, in my opinion, overreach in requiring debit aithority on my private bank account. 

[lyndal1838]

Well set up a new bank account completely separate from your everyday account.

Most banks have a fee free basic account that would do the job.

[blackgoose11]

Why would I want to set up another bank account so I can wait another two days to transfer to my real account. I'm not a shop, I just sell spare stuff every so often. I understand a lot of people are running businesses in which case you have no choice if you want to be on the platform. I'm not happy with the changes, and I was looking to guage community response. I got that, just not what I was expecting. For now I have just cancelled the few items I had for sale and I will offer them elsewhere. Maybe long term I will just give in as well and let ebay stick it's long arm where it is not welcome... or I'll look elsewhere. 

[instylecollectables]

Same banks are instant transfers and there's payID which is also instant.

And if you want to sell on ebay even a few items then you still need to register for MP.

[twyngwyn]

https://www.ecommercebytes.com/C/abblog/blog.pl?/pl/2021/2/1613767297.html

[danieh_6]

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@blackgoose11 wrote:

Why would I want to set up another bank account so I can wait another two days to transfer to my real account. I'm not a shop, I just sell spare stuff every so often. I understand a lot of people are running businesses in which case you have no choice if you want to be on the platform. I'm not happy with the changes, and I was looking to guage community response. I got that, just not what I was expecting. For now I have just cancelled the few items I had for sale and I will offer them elsewhere. Maybe long term I will just give in as well and let ebay stick it's long arm where it is not welcome... or I'll look elsewhere. 

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Mate, I'll just say thats a very fair point & you have my support.

[jellybirddesigns]

Whilst you have to give your bank details anyway, I find the new system works fine. Money is deposited into my bank once a week.

Fees are taken out upfront so that anything that is sent to my bank is nett profit.

I have it set up so that any specific fees such as store subscription and promotional fees are deducted from my PP account and when that runs low, I can just top it up from my bank. If you don't have a store or use any promotions, then there is no reason for the new system to take anything from your bank at all.

Also, you will have to send out within your handling time. Once you are signed up you will notice that when sales come and they are paid for immediately, you will have a notice that tells you to post, even if the funds show up a day on the account a day or so later.

Of course, you can still adjust your handling time, but you don't need to give a sob story to the buyer. Mine is set to a minimum of 10 days due to the pandemic anyway.

[jellybirddesigns]

Also, even with Paypal you would have had to give them your bank account details at some point.

All financial companies have to be regulated and Adyen is no exception.

If you give your bank details to Paypal, what's the difference in giving them to Adyen, who are the replacement company for Paypal?