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eBay - add checking account?

Bosco...

Bosco...

JB Cobb III told me to do it.
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Planning to clear out some stuff on eBay but they require adding your checking account for payment now.

This doesn’t give me a warm and fuzzy at all. PayPal has been fine for years in my opinion.

Any you on board with it? Issues? I was thinking I might open a burner type checking account just for this.

Opinions?
 
Yup, policy changed a couple years ago. Faster payout and slightly lower fees, it’s a much simpler system now.
 
I don’t mind simple, but dang I feel like they’re getting the keys to the car. I reckon I’m a bit gun shy for whatever reason.
 
I have had mine on there for years to get payouts within a couple of days of selling....never an issue. It's also a checking account i set ups for only Ebay, so not much flows through. I transfer money in and out as i sell or buy
 
No issues at all from my experiences. Faster payout than when it went to PayPal.
 
I did it begrudgingly when I sold something.. but it was a necessary step and really have 0 plans for using eBay in the future
 
Bosco... said:
Planning to clear out some stuff on eBay but they require adding your checking account for payment now.

This doesn’t give me a warm and fuzzy at all. PayPal has been fine for years in my opinion.

Any you on board with it? Issues? I was thinking I might open a burner type checking account just for this.

Opinions?
Click to expand...
The burner account is a good idea. I have one to pay off a couple of credit cards after a road trip.

They want both my routing, and account numbers when I make an on line, or phone call payment. Anyone who has those numbers could take what they want out of it, when ever they want.

I just transfer enough money into the account to pay those bills, while leaving $40 in the account to keep it open. The bank fee is worth it.
 
WLG1952 said:
The burner account is a good idea. I have one to pay off a couple of credit cards after a road trip.

They want both my routing, and account numbers when I make an on line, or phone call payment. Anyone who has those numbers could take what they want out of it, when ever they want.

I just transfer enough money into the account to pay those bills, while leaving $40 in the account to keep it open. The bank fee is worth it.
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I’m thinking that’s the way I’ll go. Time to empty out the toy box and let go of some old hobbies and whatnot. It’s golf and saltwater fishing from here on out…..
 
I'm very leery leaving personal payment sources on any site. Got some but I'm careful. Remember the experience not too far in the distant past with Tackle Warehouse who was hacked.
 
Put my checking account on there when they started requiring it 3 - 5 years ago and have not experienced any issues. I think when they switched to that it saved a miniscule amount over the PayPal method. Haven't sold anything on there in a year or so and wouldn't be surpirsed if there fees have increased since I sold something on there.

One other thing to keep in mind in that the tax laws are changed for this year. so you will get a 1099-K if total sales exceed $600 (up from $20,000 in previous years...). This applies to any place you sell merchadise and receive payment, such as Facebook Marketplace, payments received through PayPal, etc. So it may be advantageous to spread your listings around to different sites if your sales will exceed $600.

* If what you are selling is used and you sell it for less than you purchased it for, it does not have to be reported. But, if audited, the burden of proof will be on you to substantiate what you paid for the item(s) that are not reported.
 
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No one gets my Checking account.
 
I sell probably 100-150 items a year on eBay (Over 500 during the peak COVID year) - Nothing to be worried about.

Faster payouts and lower fees - It is a win win.
 
I don’t know what these “lower fees” are. I get railed for 13.25% which is like the third fee raise in a little over a year. It’s insane that I get charged that fee when it includes the sales tax that most users pay. None of that money goes to me but I still pay ebay 13.25% on it…oh this is about the checking account being added 😅 yeah the payouts are much faster lol
 
Muchmore18 said:
I don’t know what these “lower fees” are. I get railed for 13.25% which is like the third fee raise in a little over a year. It’s insane that I get charged that fee when it includes the sales tax that most users pay. None of that money goes to me but I still pay ebay 13.25% on it…oh this is about the checking account being added 😅 yeah the payouts are much faster lol
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Oh man it is 13.25%! When did that happen?! Ah well, still the best place to sell my junk 🤷‍♂️
 
Muchmore18 said:
A month or two ago. It’s ******* outrageous
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Only 0.35% more than the legacy eBay + PayPal but still laaaaaame! Also I should read the terms and conditions updates when they send them.
 
RealPretendPsychic said:
Only 0.35% more than the legacy eBay + PayPal but still laaaaaame! Also I should read the terms and conditions updates when they send them.
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So they made us do checking to save paying PayPal fees and now they are higher? Yep. Fantastic for eBay
 
Muchmore18 said:
So they made us do checking to save paying PayPal fees and now they are higher? Yep. Fantastic for eBay
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At least it’s a bargain compared to shipping increases over the same period?
 
RealPretendPsychic said:
At least it’s a bargain compared to shipping increases over the same period?
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Shipping on eBay is still and always has been cheap. And pirateship has insanely low rates too if not. eBay regularly taking more and more money is not a bargain. But they know there aren’t many other places to sell so they can do what they want
 
Muchmore18 said:
Shipping on eBay is still and always has been cheap. And pirateship has insanely low rates too if not. eBay regularly taking more and more money is not a bargain. But they know there aren’t many other places to sell so they can do what they want
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I was just trying to find you a silver lining 😢
 
Muchmore18 said:
I don’t know what these “lower fees” are. I get railed for 13.25% which is like the third fee raise in a little over a year. It’s insane that I get charged that fee when it includes the sales tax that most users pay. None of that money goes to me but I still pay ebay 13.25% on it…oh this is about the checking account being added 😅 yeah the payouts are much faster lol
Click to expand...

Yes, they touted it as lower fees when they changed over but it was only like a quarter of a percent compared to the old spearate Ebay and PayPal fees. And I agree with you about paying the fee on the sales tax. I have argued with Ebay about that before obviously to no avail.
 
I think the second checking account just for EBay is the way to go.
 
Bosco... said:
Planning to clear out some stuff on eBay but they require adding your checking account for payment now.

This doesn’t give me a warm and fuzzy at all. PayPal has been fine for years in my opinion.

Any you on board with it? Issues? I was thinking I might open a burner type checking account just for this.

Opinions?
Click to expand...
I sort of had to do it because I sold something on ebay. Had I known before I listed it and the auction ended, I wouldn't have listed to begin with. I have a lot of ebay feedback so the idea of deleting my current account and setting up a new one for just buying is annoying. In the end, ebay will probably lose me as a customer... not over this but, it is the icing on the cake.
 
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