Australian banks to challenge eBay on PayPal plan

Australian banks to challenge eBay on PayPal plan

Australian banks are looking to the country's competition watch dog to derail plans by eBay to force customers to use its PayPal service to make payments on the online auction site.

eBay sellers can no longer use PayPal under new terms

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eBay sellers can no longer use PayPal under new terms.

New terms of use for eBay have come into effect which mean the online auction house will now pay sellers directly rather than through PayPal.

PayPal was acquired by eBay in its early days in 2002, and the two firms have worked in partnership ever since.

The changes mean that while eBay buyers can still pay with PayPal, sellers will be paid straight into their bank accounts.

But some sellers have threatened to stop using the service over the move.

EBay’s forums have several posts from sellers who say they are reluctant to use the new system and give eBay direct debit access to their personal bank accounts.

But the new terms, effective from 1 June, say the new “managed payments” system is compulsory, and the company has the power to limit or remove listings from sellers who refuse to use it.

The company says the new system is simpler, convenient, and gives buyers more payment options – and the rollout will be gradual.

It marks a significant change in an almost two-decade partnership with PayPal, which split from eBay in 2015.

What’s changing?
The managed payments system means that PayPal fees will no longer be added to the process, though eBay has made its own fees slightly higher.

But the company claims most people will pay the same as – or less than – before.

The new system is 12.8% of the final amount including delivery, plus 30p in the UK ($0.30 in the US). The old system was 10% for eBay, plus PayPal’s fees, plus 30p. The difference favours the new system to the tune of pennies for most transactions.

The move also means that buyers will automatically have access to every payment option available – including credit and debit cards, Apple Pay, Google Pay, PayPal, and PayPal Credit.

However, payments will now take two working days to be transferred, while PayPal was usually on the same day.

The feature has been rolled out since about 2018, an eBay spokesperson said – with business sellers moving first. An estimated four million sellers are already using it.

The deadlines for all users are phased – so while many sellers are required to move to the new system from 1 June, others will receive a message from eBay in the coming weeks and months.

What’s the problem?
The terms and conditions make using the new system mandatory.

In part, the reluctance is because eBay has a strong reputation for protecting buyers – sometimes at the expense of sellers. Some unscrupulous fraudsters have been known to buy a product on eBay, swap it for a damaged or different item, and return the package demanding a refund.

Some sellers believe eBay regularly sides with the buyer in such cases – and fear that refunds would be taken out of their bank accounts under the new system.

Late last year, ahead of the impending change, another forum user wrote: “They are so heavily biased in the buyer’s favour… I am simply not prepared to switch to this new [system] and give eBay direct access to my bank account.”

EBay, for its part, says the direct debit scheme adheres to the same rules any other direct debit, such as a phone bill. That means customers will have advance notice of how much is being taken out, and any incorrect or fraudulent payments should be refunded.

Other users were confused by the switching process requiring them to enter their online banking usernames or passwords. But those credentials are only used by the bank. The company says it does not have any actual direct access to sellers’ bank accounts.

How To Add Bank Account To eBay – Update Payment Methods

In this video tutorial, I show you how to add your bank account to eBay to use as a payment option. This will also show you how to easily update all of your payment options on eBay.

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How to Add / Change Payment Method on eBay 2021

In this tutorial video, I will guide you on how to add payment information to your eBay account or change your payment process if you have already entered your payment method into your eBay account. You can use different types of payment methods on ebay like PayPal, credit/debit card or you can connect directly to your bank account.
I hope this video will make your stress-free to add your payment method.
If you are planning to sell or buy on eBay, you need an account and right after the creation, you have to add the payment methods on eBay through which you can pay for your eBay listing fee and other charges or pay your purchase items.

Therefore, here’s a detailed explanation of how you can set up various payment methods on your eBay account:
1. Go to any browser you use and type then Sign-up or login into your eBay account. If you do not have any account on eBay then check our other videos for more information.
2. On the top left corner of your eBay panel or eBay page, you’ll see “Hi, Your Name”, Click on that and your will see two icon: Account Setting and Sign Out. Click on Account Setting. Then, You will get My eBay.
3. You’ll see different categories over there and there is also payment category. Under the Payment category, you’ll see three options: ” Payments, PayPal Account and Donation Account “. Click on “Payments”.
4. If you have already entered your payment details then you can delete it and add new payment method. If you want to add new payment method, choose any one payment information among the PayPal and credit or debit card. Add your all the required details like your first name, last name, Card Details and so on and Click on save.
5. You have successfully added your payment details.

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Can You Link PayPal to eBay in 2022?

In this tutorial I will show you Can You Link PayPal to eBay in 2022?

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RBA warns Australian banks not to backtrack on payments modernisation

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