ebay managed payment and password bank details

[antiquesdesignonline]

Ebay have demanded that we all sign up to ebays's managed payments scheme. 

In the proccess the ebay system asks us to reveal out bank numbers AND PASSWORD. any bank in Australia advises NOT to give out this information to anyone. hence as of 1st march i will be affected by ebay closures of my listings due to their ILLEGAL demands.

[robinson132]

SOLUTION : I found that if you choose the option for your bank not listed, on the next page you just need to enter your account number and BSB as normal. No password. I agree with others that you should never share your bank password with anyone.... Not good enough eBay.

[browneye5127]

I agree. Breach of Australia's privacy laws.

[browneye5127]

Dont

[aldeepat]

I guess thats me finished on here too, i wont give my password , no point in having a password if you give it out.

[gutterpunkz05]

Well that is a bit short sighted, for one you can bypass the micro deposit system,  and most financial institutions reccommend that you regularly change your password anyway.    It is also a good idea to have a dedicated account for online use.

[minimum_56]

I know the CBA has an account verification available in NetBank. You download the form which has your name, address & account details on it.

You then upload it to ebay. No passwords needed.

Maybe your bank has something similiar?

[sugar249]

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@aldeepat wrote:

I guess thats me finished on here too, i wont give my password , no point in having a password if you give it out.

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Well maybe if you actually did some research, you would see that there is no need to give a password.

I just converted an account to managed payments,  gave bank BSB and number (No password),  the next day 2 micro payments,   Whammo I'm on managed payments.

Not sure what all the complaining is,  but then again it's easier to read the other complainers and go with the flow on a Saturday

[wide-world-of-stamps]

Yes, that was our experience on our non-store accounts.

We gave the BSB and account number, which signed us up to Managed Payments, then had to verify with micro-deposits after we made a sale on each of those accounts.

Simple, reasonably quick, and no problems in the few months since.

[bmanly3]

No password given out by me either.

[toms3611]

Agree that eBay cutting PayPal, taking more margin from sellers themselves, asking - no demanding - confidential bank details - is an overreach. Shows that eBay has become an arrogant and autocratic monopoly. I'm looking for alternatives..