Paypal payments

kuga3 · 26th November 2020, 20:38

Dont quite understand this I`ve just sold something on EBAY and now have to give Ebay my bank account details and sort code so that they can pay the money into this account direct , thereby bypassing Paypal ? I also give them the right to extract any monies and refunds to customers ! what !!!! I must be missing something I think ?

Lancpudn · 26th November 2020, 20:41

Quote:

Originally Posted by kuga3

Dont quite understand this I`ve just sold something on EBAY and now have to give Ebay my bank account details and sort code so that they can pay the money into this account direct , thereby bypassing Paypal ? I also give them the right to extract any monies and refunds to customers ! what !!!! I must be missing something I think ?

From what I've read Ebay was to stop using paypal for online payments this year. https://www.salehoo.com/blog/ebay-br...ff-with-paypal

macafee2 · 26th November 2020, 20:45

we are still getting paypal payments for stuff we sell on ebay

macafee2

kuga3 · 26th November 2020, 21:13

Your payouts are on hold until you update your account details. Please update by 23 Dec, 2020 to avoid further restrictions. this on my home page now --nothing credited on my Paypal

steve-45 · 27th November 2020, 11:58

Think it might be something to do with confirming your identity to conform with money laundering regulations.

steve-45 · 27th November 2020, 12:01

PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. The company operates as a payment processor for online vendors, auction sites, and many other commercial users, for which it charges a fee in exchange for benefits such as one-click transactions and password memory.

Established in 1998 as Confinity, PayPal had its initial public offering in 2002. It became a wholly owned subsidiary of eBay later that year, valued at $1.5 billion. In 2015, eBay spun off PayPal to eBay's shareholders. The company ranked 204th on the 2019 Fortune 500 of the largest United States corporations by revenue.

So, eBay and PayPal are now 2 seperate companies .

clf · 27th November 2020, 12:11

Quote:

Originally Posted by kuga3

Your payouts are on hold until you update your account details. Please update by 23 Dec, 2020 to avoid further restrictions. this on my home page now --nothing credited on my Paypal

Is there anything on your PayPal account about it, ie are your bank details.correct.

Also.did the buyer pay with PayPal or another payment method?

PayPal.are.who pay you, so they hold the account info, as I understood it regarding money laundering issues ...... if that payment was made by the seller via paypal.

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clf · 27th November 2020, 12:14

Quote:

Originally Posted by steve-45

PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. The company operates as a payment processor for online vendors, auction sites, and many other commercial users, for which it charges a fee in exchange for benefits such as one-click transactions and password memory.

Established in 1998 as Confinity, PayPal had its initial public offering in 2002. It became a wholly owned subsidiary of eBay later that year, valued at $1.5 billion. In 2015, eBay spun off PayPal to eBay's shareholders. The company ranked 204th on the 2019 Fortune 500 of the largest United States corporations by revenue.

So, eBay and PayPal are now 2 seperate companies .

Soon to be apparently, ebay will use another payment company (according to the link), as its 'associated' payment partner with paypal still being used until 2023.

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kuga3 · 27th November 2020, 13:59

As i read it Paypal is in use for purchases only --If you sell now your payment is handled by Ebay only , and paid directly into your current a/c , hence having to give them your bank details --which I am very loathe to do . Never been happy about my bank details held elsewhere with only lip service as security !

torque2me · 27th November 2020, 17:31

Quote:

Originally Posted by kuga3

As i read it Paypal is in use for purchases only --If you sell now your payment is handled by Ebay only , and paid directly into your current a/c , hence having to give them your bank details --which I am very loathe to do . Never been happy about my bank details held elsewhere with only lip service as security !

Open another current a/c for eBay usage. Do not put your life savings into it. Do not get despondent when the buyer complains and is refunded whilst keeping the merchandise et al.

Kev

26th November 2020, 20:38	#1
kuga3 Newbie kuga Join Date: Mar 2018 Location: wakefield Posts: 20 Thanks: 41 Thanked 3 Times in 3 Posts	Paypal payments Dont quite understand this I`ve just sold something on EBAY and now have to give Ebay my bank account details and sort code so that they can pay the money into this account direct , thereby bypassing Paypal ? I also give them the right to extract any monies and refunds to customers ! what !!!! I must be missing something I think ?

26th November 2020, 20:45	#3
macafee2 This is my second home Rover 75 Saloon & Tourer Join Date: Sep 2012 Location: Lincoln Posts: 14,929 Thanks: 1,630 Thanked 3,032 Times in 2,181 Posts	we are still getting paypal payments for stuff we sell on ebay macafee2

26th November 2020, 21:13	#4
kuga3 Newbie kuga Join Date: Mar 2018 Location: wakefield Posts: 20 Thanks: 41 Thanked 3 Times in 3 Posts	Your payouts are on hold until you update your account details. Please update by 23 Dec, 2020 to avoid further restrictions. this on my home page now --nothing credited on my Paypal

27th November 2020, 11:58	#5
steve-45 This is my second home Rover 75 Saloon CDTi Join Date: Oct 2015 Location: Belvedere Posts: 4,076 Thanks: 108 Thanked 1,089 Times in 774 Posts	Think it might be something to do with confirming your identity to conform with money laundering regulations.

27th November 2020, 12:01	#6
steve-45 This is my second home Rover 75 Saloon CDTi Join Date: Oct 2015 Location: Belvedere Posts: 4,076 Thanks: 108 Thanked 1,089 Times in 774 Posts	PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. The company operates as a payment processor for online vendors, auction sites, and many other commercial users, for which it charges a fee in exchange for benefits such as one-click transactions and password memory. Established in 1998 as Confinity, PayPal had its initial public offering in 2002. It became a wholly owned subsidiary of eBay later that year, valued at $1.5 billion. In 2015, eBay spun off PayPal to eBay's shareholders. The company ranked 204th on the 2019 Fortune 500 of the largest United States corporations by revenue. So, eBay and PayPal are now 2 seperate companies .

27th November 2020, 13:59	#9
kuga3 Newbie kuga Join Date: Mar 2018 Location: wakefield Posts: 20 Thanks: 41 Thanked 3 Times in 3 Posts	As i read it Paypal is in use for purchases only --If you sell now your payment is handled by Ebay only , and paid directly into your current a/c , hence having to give them your bank details --which I am very loathe to do . Never been happy about my bank details held elsewhere with only lip service as security !