Why should we trust ebay?

RustyRelics

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I wrote this on the eBay community page. If they ban me, oh well, I don't care anymore. I feel a lot of folks share the same sentiment.




"I have never been more livid in my life than when ebay decided to switch to managed payments. I refuse to let ebay handle my bank account information, no matter how much they promise the world to us sellers.



For one, why would we trust their security? Below are some companies that were purportedly "safe" but were hacked anyway, and users information was stolen.



Adobe
Adult Friend Finder
Canva
Dubsmash
eBay
Equifax
Heartland Payment Systems
LinkedIn
Marriott International
My Fitness Pal
MySpace
NetEase
Sina Weibo
Yahoo
Zynga
Oh wow, look who was on #5! Ebay! Let's see what was stolen from some of these companies...





"Adobe originally reported that hackers had stolen nearly 3 million encrypted customer credit card records, plus login data for an undetermined number of user accounts."



"eBay reported that an attack exposed its entire account list of 145 million users in May 2014, including names, addresses, dates of birth and encrypted passwords. The online auction giant said hackers used the credentials of three corporate employees to access its network and had complete access for 229 days—more than enough time to compromise the user database.

The company asked customers to change their passwords. Financial information, such as credit card numbers, was stored separately and was not compromised. The company was criticized at the time for a lack of communication with its users and poor implementation of the password-renewal process."



Side note, if they can do that, they can get your payment information.





"Equifax, one of the largest credit bureaus in the US, said on Sept. 7, 2017 that an application vulnerability in one of their websites led to a data breach that exposed about 147.9 million consumers. The breach was discovered on July 29, but the company says that it likely started in mid-May. The breach compromised the personal information (including Social Security numbers, birth dates, addresses, and in some cases drivers' license numbers) of 143 million consumers; 209,000 consumers also had their credit card data exposed. That number was raised to 147.9 million in October 2017."





You can find more on these breaches here. https://www.csoonline.com/article/2130877/the-biggest-data-breaches-of-the-21st-century.html



Even the federal government has been targeted and hacked repeatedly by Chinese and Russian hackers. And they are supposed to be the most secure in the world!



It would be bad enough if somehow our paypal accounts were breached and we lost all of our paypal money, but could you imaging losing your entire bank account!? Life savings, gone! No matter what tripe ebay promises, I will never trust them to deliver. I will never sign up for managed payments, I hope you don't either. eBay has dragged us through the mud since the beginning with fees out the wazoo. We have been abused, and now they want more control over us, including our personal bank accounts. Shame on ebay. You've squeezed enough money out of me and your users. This is the last straw for me, NO ONE should have access to my bank account, except for me."




#ditch_ebay #cancel_ebay #boycott_ebay - feel free to use these tags anywhere on social media. I want this changed!
 

trdhrdr007

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I'm as paranoid (or more) than the next guy & am definitely not a fan of managed payments. Having said that, if you sell any kind of volume on eBay PayPal probably has your banking information. If you have any sort of automatic bill payment or direct deposit those people have your banking information. Anytime you pay by check the recipient gets a lot of the information needed to access your account.
 

tamrock

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I don't think the average Joe sellers are what ebay prefers anymore. It's been more than a year now since I've listed anything. I'll be looking at other selling avenues if and when I ever go back to selling things again online. I guess I'm a nobody in the eyes of eBay and I've been a member since the 1990s and at one time a pretty active seller with a awesome positive feedback. Seems to me they've completely forgotten who it was that got them to where they are today.
 

Drmad7

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I’ve had 3 different EBay accounts over the years and have used it to sell since the days of sending money orders abs checks. The pre-PayPal days. I HATE managed payments. But EBay is still one of the biggest places this sell and they know it. They have me by the short and curlies...but nothing I can do to get the traffic they generate.
 

Exhuminator

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I sell a fair amount of things on eBay, have been doing so for over twenty years now. However, I've started looking for alternative platforms recently. eBay gives too much power to the buyers, at the expense of the sellers. If you are a seller you have to bend over backwards to every whim of the buyer, and even then, they'll likely find something to complain about, and try to get a refund while keeping the item. Too many scam-buyers out there, and eBay treats sellers like second class citizens (talk about biting the hand that feeds you). Don't even get me started on eBay's exorbitant fees these days.
 

tamrock

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I sell a fair amount of things on eBay, have been doing so for over twenty years now. However, I've started looking for alternative platforms recently. eBay gives too much power to the buyers, at the expense of the sellers. If you are a seller you have to bend over backwards to every whim of the buyer, and even then, they'll likely find something to complain about, and try to get a refund while keeping the item. Too many scam-buyers out there, and eBay treats sellers like second class citizens (talk about biting the hand that feeds you). Don't even get me started on eBay's exorbitant fees these days.
Yeah, hands free buyers became my No.1 aggravation.
 

IDXMonster

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I’ve used eBay for close to 20 years. I don’t like the high fees. But it’s still something we choose to use or not use. No other selling platform offers as many potential buyers. It’s the price we pay to sell our stuff! Or...we can try locally on FB Marketplace or CL or....but I get all the points for sure.
 

cyberdan

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I’ve used eBay for close to 20 years. I don’t like the high fees.
This month (I think) I will be with them also for 20 years. The fees are about the only thing I can't complain about. Total with paypal it is only 13% +/- and I build it into my prices. I have not gotten hit with that managed payment crap yet. Maybe they are going after the big guys first. My fees are usually 15 to 30 a month.
 

Drmad7

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This month (I think) I will be with them also for 20 years. The fees are about the only thing I can't complain about. Total with paypal it is only 13% +/- and I build it into my prices. I have not gotten hit with that managed payment crap yet. Maybe they are going after the big guys first. My fees are usually 15 to 30 a month.

It’s about the same percentages with Managed payments in most categories. I miss my “Immediate Payment” showing up in PayPal and it was my official EBay account. I have not set up an account specifically for EBay, so the 2-3 day wait for commingling of funds into my personal account is annoying.
 

Indigo Knight

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RustyRelics: Your complaints are valid, but this transition has been planned and announced for years. Having payments deposited directly into a bank account is the standard for online selling platforms (i.e. Amazon and Etsy), and it's also far less complicated than using an intermediary to process payments. Your complaints remind me of when eBay made PayPal mandatory back in 2007. Everyone complained about how it would drive people away from the platform and what a terrible service it was. Now everyone wants to keep PayPal? Ha. They also require a bank account and SSN if you do any kind of volume. The reality is people simply don't like change.

If you are conducting any sort of business online, you should be using a legal business and a business banking account to protect yourself from liability claims and other forms of financial disaster.

If you are concerned about identity theft, freeze your credit. Your identity and mine have almost certainly already been stolen (see Equifax security breach). Be proactive and spend a few dollars and you'll sleep better at night knowing that if anyone does get your SSN they won't be able to do anything with it. Don't use identity theft protection/insurance as those are simply overpriced credit freeze services, you can manually freeze and unfreeze your credit through each of the 3 main credit bureaus.
 
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smokeythecat

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And the rules they is a changin! Ebay, Etsy all of them are required to send you a 1099-k if you have more than 200 sales or $20,000 in gross sales in a year. it's been like that quite awhile. I have never met that threshold as I have never run a business selling collectibles. Good thing I decided to sell the boat through a dealer and not on Ebay! I have used Ebay to get rid of stuff. Not anymore.

Ebay has a reporting threshold of $20,000 or 200 items sold for them to consider you a business and generate a nice fresh 1099 form for you.

HOWEVER, the following states have deemed they want MORE and you will get a form to pay tax on much lower amounts.
They are as follows:

MARYLAND, VIRGINIA, DISTRICT OF COLUMBIA, MASSACHUSETTS, MISSISSIPPI AND VERMONT it is now $600.00

ILLINOIS AND NEW JERSEY it is now $1,000.00

And coming in last is ARKANSAS at $2,500.00

So this means if you sell on Ebay, Etsy, Paypal, any place like that you will get a 1099-K for everything you sell if you meet that threshold.

Which means Goodwill is going to do very well from me from now on. You KNOW the other states are following in these trail blazing footsteps. I did get ahold of my accountant and he said the "fix" was to file a Schedule C if you get a 1099-K. And with me losing money every year, not a lot, but still a loss, not including mileage, how long do you think you can file a Schedule C with a loss for? 1 year, 2, 3?

I'm done with them. I've never had a business selling there. And now as I said, Goodwill will be doing very, very well.
 

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