Is it safe to share my bank customer ID and password with eBay?

[4*sale]

As eBay sellers you've all received the "Getting paid on eBay has changed" email from ebay and tried to set up payment through Payout settings. To create payment account you need to ad your bank, eBay asked  meto use my customer ID and password. My question here is it safe to share my bank customer ID and password with eBay?

Thanks a lot.

[jellybirddesigns]

I agree @shassaz - we definitely should not have to enter our personal banking password. I moved to MP last year without having to provide such info. This is just making people just feel anxious and annoyed. Not everyone comes to the forums to find out that there is a "workaround". We should never have to change our banking passwords just for the convenience of passing a verification check - there are much better and consumer friendlier ways to go about it. 

I'm registered with several selling platforms as well as various financial websites, and never have I been asked to give my banking password - usually the entity sends a tiny deposit to the registered bank account and once it arrives, you simply enter the amount back into the verification page and you're done.

[k1ooo-slr-sales]

when I registered it was made clear that the ‘name’ on the bank account needed to match the name on the eBay account.

Is a password being asked for where the names do not match?

Do you have a screen capture of the page without the pop up showing?  I’m interested in seeing what is covered by the popup

[digital*ghost]

For anyone interested, and particularly for those that are concerned, it may as well be informed concern, lol. The company doing the verification is Trustly (as noted at the bottom of the pop-up, with links to more information on the Trustly website). It looks like they are kind of like PayPal, in that they facilitate payments between buyers and sellers, but only for direct bank transfers, and they also offer the verification services they're performing for eBay. 

eBay doesn't get the password, it would seem - "Once consumers authenticate to their financial institution via online banking, you are able to access bank-verified account holder names, mailing addresses, phone numbers and email addresses." (https://www.trustly.net/en-ca/products/online-banking-data)

They are a Swedish company, which means they have to comply with the GDPR - this is pretty strict (more strict than Australia's data protection legislation, at any rate, and is what's responsible for pretty much every website making you accept cookies before you can proceed to use it, as a big thing with that legislation is informed consent). Consequences for breaches in GDPR legislation are nothing to sneeze at, either, BTW (Google was fined 50 mil EUR for breaches,  as far as I can tell Trustly has not had any fines or reported issues). This also means you can contact Trustly at any time and request that they delete any and all data they hold on you and they are obliged to do so. The information on how to do that is in their privacy policy.

You can read their data privacy policy here: https://www.trustly.net/en-ca/privacy-policy

Note: there are some unfavourable consumer reviews, particularly for their payment processing services - PayPal has plenty of those too, so while I do recommend researching, don't just cherry-pick for confirmation bias purposes 😁

[eol-products]

Aust. Post now owns their own company that does this same type of transaction. It is used when one wants to avoid CC fees on things like airline tickets. I have been using POLi for years and don't change my password everytime. 

I would have issues selling on other platforms and organising to meet someone down the road after dark to sell my iphone.

[supermussolinibros]

only a nutcase would provide such details to ebay .

the people who say this is safe will be the first to cry out when their identity is stolen and used in a fraudulent manner.

Oh yeah real safe - give us your details and we will palm it off to some foreign company registered in a 15 year olds name overseas sitting in front of their laptop popping their pimples.

And when the company is breached -"oh sorry we didn't have any control of your details as they were held by a different company which we do not control - we assure you the chinese will do nothing bad with your details - trust us"

Just look at trustly's privacy policy - great stuff indeed "(b)       Third Parties.  This Privacy Policy does not apply to any third-party web sites, applications or software that integrate with the PayWithMyBank Services, or any other third-party products, services, or businesses, including Merchants."

Fantastic system - made my decision never to ever sell here again easy, really easy.

Actually may be time to stop buying things as well.

"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." 

[annieoakley2000]

I didn't even get that far. Only made it to page one of five of the questionnaire. On first page address - P.O. Box not allowed. Can't proceed to page two, so God knows what E-Bay is not going to accept or want to have their way on page two to five.

Been operating on E-Bay for 20 years with P.O.Box address. All correspondence from any Government agency, company, financial institution has had my P.O. Box on file for over 35 years as my main address; never a problem with any of them.

Asked E-Bay why they accepted my P.O. Box for 20 years and not now. Received a totally stupid/non nonsensical answer; what will happen if you ask them a difficult question or something about your financial transactions with them, once E-Bay has access to your bank account ?

Good luck to those who think, E-Bay will suddenly be a sensible/logical company to deal with if they haven't been able to give a sensible answer before the managed payment system has come into place !!

[eol-products]

What would be the issue on having your home address with ebay if you have one.

[chameleon54]

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@jellybirddesigns wrote:

I agree @shassaz - we definitely should not have to enter our personal banking password. I moved to MP last year without having to provide such info. This is just making people just feel anxious and annoyed. Not everyone comes to the forums to find out that there is a "workaround". We should never have to change our banking passwords just for the convenience of passing a verification check - there are much better and consumer friendlier ways to go about it. 

I'm registered with several selling platforms as well as various financial websites, and never have I been asked to give my banking password - usually the entity sends a tiny deposit to the registered bank account and once it arrives, you simply enter the amount back into the verification page and you're done.

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Absolutely nailed it Jellybird, Ebay have totally lost the plot if they expect sellers to hand over their banking passwords. I,m registered with probably 20 different organisations that require my banking details, including online farm business auction houses that deal in seven figure sum transactions and I,ve never been asked to provide my bank password.

And it is ludicrous that anyone here expects / supports sellers having to run work around's involving providing bank passwords and then changing them days later just for ebays sake. ( how long does it take for a hacker to gain control of a bank account ? )

In my case the bank password is the online key that opens the vault to around a dozen different bank accounts used for various different businesses including rental and leased properties, investment accounts, share trading bank accounts, business loans and a cheque account used for my farm with a six figure overdraft. Many other business sellers would have similar banking structures. These other bank accounts have nothing at all to do with ebay or its business partners, but with my bank password the information to these other accounts can be accessed and recorded. 

Lets face it. Ebay has botched the managed payments introduction big time and its going to take quite awhile to sort out the mess.

[eol-products]

You are not giving ebay your password and this type of method has been around for some time and I am surprised so many have not heard of it or used  this method before. 

[xkell]

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@4*sale wrote:

Please find the screenshot in this link:

https://i.postimg.cc/dQpS3WFW/link-a-bank-account-4.png

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Could you (or anyone else who currently has access to that prompt) share the URLs for the terms an privacy policy pages linked at the bottom in that screenshot? A web search may bring up various Trustly policies, but not necessarily the ones that apply to eBay's verification measures - only way to be sure is knowing what's linked from that prompt.