Quoted from oldschoolbob:
snyper, I read most of that thread but it still seems a scam. I know Ebay sold off PayPal and now they're trying to kill them.
Lovef2k, Getting a real person at Ebay is difficult at best. I don't give out my bank account information to anyone - Ebay or PayPal. I thought about opening an account only for Ebay but it would cost me $10 per month (if I use it or not). I don't sell that much.
pins, You'd think a country like America would be very advanced. They can't even keep hackers out of our oil pipeline. If I gave my banking info to Ebay or Paypal I may as well broadcast it on the internet.
Now that's a great idea!!!
That’s not really the point. It’s not a “scam”. It’s their new policy. You have to switch to eBay’s “managed payments” to sell on ebay now. It’s just that simple. Your transaction got caught in the mandatory change over. They do not care about the little sellers any longer. They would rather lose you than have you use PayPal. They have problems. They do not go out of their way to solve them, they make them your problems by default. Sorry.
I’ve done a huge amount of work to reposition on ebay. It sucks but it’s working so-so.
Managed payment isn’t even the true thing you should worry about. You should worry more about the ebay 1099 tax form that ebay is going to send everyone (starting in 2022) who sells at least $600/year on ebay.
Congress hid this “online marketplace 1099 requirement” in the Covid relief bill they passed. They got to pay for the stuff in that bill somehow. And don’t think you can just move your sales to another marketplace. It’s required for all online sales platforms starting in 2022.
A lot of people will be caught off guard with the form and will not be prepared to pay the taxes. Be aware of it, and you won’t be caught off guard.