eBay says PayPal OUT!
If I am reading this right, eBay will be cutting PayPal out to at least some degree. eBay will now be the handler of transactions. This kind of scares me since they no longer have a customer support number but I do sell on eBay occasionally and there are few alternatives for my business stuff as this is where my target audience is.
QUOTE from eBay:
Let’s put money directly in your pocket*
eBay now manages the end-to-end selling experience on our marketplace, including payments.
This means:
• No more PayPal payment processing fees.
• You get paid directly to your bank account, not your PayPal account.
• Most sellers will pay the same or less than before.**
Update your account details by February 28, 2021 to continue creating new listings. It’s that simple.
Get started ➔
Please disregard this email if you’ve already updated your account details.
FAQ’s:
Why is the way I’m getting paid on eBay changing?
We are updating the payments experience on eBay to enhance the buying and selling experience on the marketplace. We believe this is an opportunity to deliver a more seamless experience for both buyers and sellers, while offering a greater choice in payment and payout options.
Is there anything I need to do right now?
Please update your account details, including adding your bank account information, by February 28, 2021 to ensure there are no interruptions to your ability to create new listings and avoid potential payout delays. Learn more and get started here.
How are my fees changing?
Your eBay selling fees and expenses will be automatically deducted from your earnings before you get paid. The remainder of your earnings will go directly to your bank account, not your PayPal account. You'll no longer have to pay PayPal payment processing fees and no more separate monthly fee payments. Examples of eBay selling fees include: insertion fees, listing upgrades, and store subscription fees.
*As it relates to funds settlement.
**Savings based on annual total sales volumes, and comparisons of (a) prior eBay final value fees plus typical 3rd party payment provider fees, with (b) new eBay final value fees (without any 3rd party processing fees).
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wiredgeorge Mico TX
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