Forcing me to managed payment or deny new listings

[retrowise]

I wanted to put up a new item but message came up I must register to managed payments. So I go to the link where it says "express interest". I fill out the form but skip the "Why are you interested in managed payments?" because I am not interested in it. Off course it won't let me continue. So I feel I'm being forced to voluntarily sign up for something I don't want. When I dig deeper, I find they also want driver's licence and who knows what other persona information which in no way I will submit to some private company online.

The question I have is it even legal to force people this way or simply deny their service?

I've been with ebay since the start but this will probably be the end of it. What are your thoughts

[jamesforman]

Hi,

Where do you get that identification is required? You can provide a bank account for deposit purposes without ANY need for identification unless the deposit amount exceeds $10k. (AUSTRAC requirement)

Please point me to the requirement for identification to provide a deposit account to eBay?

[jamesforman]

Hi,

Please point me to the legal requirement to provide identification for a deposit account?

The only requirement is for deposits greater than $10k.

[k1ooo-slr-sales]

---

@jamesforman wrote:

Hi,

Please point me to the legal requirement to provide identification for a deposit account?

The only requirement is for deposits greater than $10k.

---

I recall reading (on one of the many eBay pages I have read these last few weeks) that the identifying documents that eBay are asking for are required as part of the compliance with money laundering legislation.  This would negate the $10,000 amount requirement.

Managed Payments is, in effect, an agreement between eBay/Ayden and a seller that enables money to be moved between them.  Any new agreement with an organisation that enables the movement of money on a regular basis would probably require that the individual provide identifying information to comply with the legislation.

I’ll try to find that eBay page and post a link on this thread.

[*kazumi*]

Yes, that is how it is.  I sold 3 items yesterday and had to give all that info, and I still was not able to issue combined invoice, the buyer was not able to request combined invoice.  The option for direct deposit was removed and when I tried to send my banking details eBay blocked them.   Fortunately the buyer was a repeat customer and I had her email address. 

I cancelled all my other listings, and in the future will be looking at FaceBook Marketplace for all the pick up only things.  

eBay is turning into giant $2 shop

[k1ooo-slr-sales]

found it !!!!!!

Here is the link to the eBay page:

https://sellercentre.ebay.com.au/managed-payments

You will find the Anti-Money Laundering (AML) reference in one of the FAQs.  The spoiler below has a screengrab showing the relevant question on that page:

Spoiler

I know it is just a ‘fleeting’ reference to the AML, but the AML legislation is federal legislation that eBay would be required to comply with, hence the requirement for sellers to provide identifying information.

[k1ooo-slr-sales]

me again, I’ve been looking around and found this:

Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (amended 2020)

https://www.legislation.gov.au/Details/C2020C00362

There’s a lot there, and I haven’t gone through the whole page yet, but this legislation would not have a $10,000 transaction threshold for reporting as that would be just plain silly.

Those seeking to fund terrorists would just need to keep transactions below $10,000 to go undetected if there were a $10,000 threshold.

[digital*ghost]

Here you go:

https://www.ashurst.com/en/news-and-insights/legal-updates/changes-to-australias-anti-money-launderi...

Of particular note:

"Further, the prohibition in section 32 of the AML/CTF Act has been clarified: generally, a reporting entity must not provide a designated service if it is unable to carry out the relevant customer identification procedures."

[jamesforman]

https://www.austrac.gov.au/glossary/reporting-entity

ebay is not a reporting entity as far as I can tell.

Your bank that you have your account with is a reporting entity. A payments processor is a reporting entity.

I’m trying to work out why eBay now thinks it is a reporting entity. I do not have a financial account with eBay. I have it with my bank.

Sorry. There is missing information here.

[jamesforman]

https://www.austrac.gov.au/glossary/reporting-entity

ebay is not a reporting entity as far as I can tell.

Your bank that you have your account with is a reporting entity. A payments processor is a reporting entity.

Why does eBay think these laws apply to them?

[jamesforman]

https://www.austrac.gov.au/glossary/reporting-entity

ebay is not a reporting entity as far as I can tell.

Your bank that you have your account with is a reporting entity. A payments processor is a reporting entity.

Why does eBay think it is a reporting entity?