📰 eBay is ditching PayPal

UK Financial Chat Fintech Chat
22

With Paypal the needle was tipped too far in favour of the buyer, because they could claim any number of problems and Paypal would refund the money instantly, and the seller would have to jump through an insane number of hoops to prove their case and still not always get their money back.

With direct bank payment, it does sound like the needle could tip drastically the other way on the face of it, with the buyer having the money so the seller is SOL. But, surely eBay must be aware of this possibility have have accounted for it in some way. For example:

  • Setting up a bank link also sets up a direct debit, and in the case of a dispute eBay debit the money from the seller.
  • Sellers already have to pay fees, so in the event of a dispute, the charges/refunds are added to what the seller owes eBay when they pay their invoices.
  • Sellers have to do enhanced verification so that in the event of a dispute, eBay can give the buyer all the information they need to know to take the seller to small claims court.

So there are things eBay could do. Whether they will do anything, who knows. All I know is that it has been over a decade now since I stopped using eBay and I still don’t regret that one bit.

23

Agree with all that. Spot on! I guess time will tell.

I should really go and setup my bank details as suggested in the email :thinking::see_no_evil:

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24

Maybe you don’t get the money until 30 days later or after positive feedback or something.

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25

That is what Amazon Marketplace does, where I sell second hand things, so makes sense eBay would copy it.

27

I couldn’t find the options in my account either. The link in the email seems to be the way to go.

Not sure if it’s account specific but here you go: https://onboardweb.ebay.co.uk/onboard

After you’ve signed in you should get this screen which will take you through the steps:

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28

I’m now questioning if it’s legit or not :thinking: Thankfully I’ve not done anything yet.

Edit: Checked it all out and it seems legit.

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30

It could be a limited roll out, to stress test the new system, so that is why it is not linked on the main site. I get this with your link @Ordog.

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32

In the help section on that screenshot it states the following:

So perhaps that’s another route? Seems odd that I’ve been selected because I’m not a power user or anything :thinking:

34

Monzo does this from time to time, randomly selecting people to test user experiences.

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35

Bit more info written up on MSE about the changes

36

Hopefully it makes the process for sellers fairer.

The buyers have a stupid amount of power - anything they say is treated as fact.

Have stopped selling high value items now and would rather take the £20/30 less and sell on gumtree or facebook marketplace.

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37

So I assumed fees would be less without Paypal taking a slice but eBay just put their fees up so we’re no better off really.

Also longer time to get paid :-1:

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38

eBay, we’ll make it better for out users
Also eBay, look at all that extra money we’ll cream from them, but let’s leave them with a extra fee pennies

39

My first experience of this newness this week.

Sold something on Weds, payment shows in my eBay account minus all the fees so no shocks at the end of the month, they processed payment to me yesterday and I’ve just got the notification to say I’ve been paid.

Maybe a tiny bit slower as I could have taken the money on Weds with PayPal, but overall no worse an experience really.

I think the real test will be when there’s a problem. As a buyer you always knew that PayPal has your back and even as an honest seller, it’s horrible. So I guess that’s a test for another day.

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