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Done selling on eBay, they are demanding my social security number to sell

They are forcing everyone into what they call "Managed payments" that requires  you to give them bank account information and your social security number. Looks like I'll be selling here from now on. I know I gave it to PayPal years ago so they have it, but I'm done giving it out. I called and the rep told me they are legally required to have it in order for me to sell. That is a load of crap.
herman

Showing 4 responses by dill

dill
2,451 posts
 
This is not a problem if you are a casual seller. I have been on the managed payment system now for sometime now and it is not a problem. eBay is weening it's sellers away from PayPal as the money taker. eBay takes all the payments from the buyer and keeps them in house. Buyer payments go directly from eBay to your bank account automatically. The rate is a bit less than it was when PayPal was in the loop. In addition, eBay accepts more forms of payments that PayPal did. I was skeptical at first, but is is working fine. 
dill
2,451 posts
 
" I don’t sell much if anything on eBay. I find their fee structure too high. Add in the PayPal fee and it’s almost 20% to sell on Fleabay"

With eBay's managed payment system now I am at between 12% - 13%, I was at 14.5% with PayPal involved. With eBay's managed payment system, PayPal is no longer in the seller's loop.
dill
2,451 posts
 
" BTW, I thought Ebay owned Paypal."
They did, however no longer. Their managed payment system has taken PayPal's place as the money collection vehicle for the seller. A buyer can still use PayPal, any credit card, Apple Pay and several other methods and then deposits it directly (in a few days) into your bank account. As an eBay buyer you can still use PayPal just as before.
dill
2,451 posts
 
With managed payments, PayPal is out of the chain except if the buyer uses it for payment. eBay now manages all the payments including collecting the appropriate sales tax for each state from the buyer. I live in a state with no sales tax, however this came from eBay's site:  


"If you're required to charge sales tax, you can set up a tax table and apply it to your listings. We'll then add the tax to the buyer's total at checkout. You're responsible for paying the sales tax to the appropriate authority.

Contact a tax professional to determine whether you need to charge sales tax on your eBay sales, or if you have questions about any other taxes. We can't provide tax advice or guarantee that our sales tax features meet all tax requirements."

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