Junky
Well Known Member
Just got the new eBay rules for January 1, 2021.. They are doing away with PayPal completely from the looks of it. They are instituting a managed payment system, where they will be collecting the money from the sale, and when you ship the item, upload the tracking information, they will then put the money into your bank account, less the selling fees. They also want your date of birth and your social security number. They do give you some examples of how the fees will effect you, but showing what a previous sale that you made will cost using the new fees. It is 10% of the selling price, and there is no information about how the shipping fees will be handled. Living in CT on the MA border, and previously having a MA post office address associated with my account, I learned a few years ago that MA was requiring a 1099 from PayPal / eBay for all sales, irregardless of the dollar amount. I dodged that bullet by providing proof of CT residency. I am thinking that was a harbinger of things to come, and that now all states with a state income tax are going to also be requiring a 1099 in the very near future. The states are desperate for cash, especially since tax revenues are down because of Covid 19. I never sold much on eBay in the past, so giving it up will not be a problem for me. I do now that this is going to kick a lot of people in the mouth, since they are dependant on those eBay sales to supplement their income. I also got a notice from PayPal, that all payments for purchases on eBay will now only reflect the eBay name, and not show the sellers name. With eBay controlling payments, I can see this becoming a real cluster f**k real quickly. When eBay spun off PayPal and the 3 year contractual agreement ended, they tried to create another payment system, and it quickly feel on its face and was dropped. I had regretted selling my eBay stock a few years ago, and I think that now might be when eBay stock starts to fall into the abyss, because of falling sales volume. Only the Chinese companies will be selling on eBay.
https://pages.ebay.com/payment/2.0/terms.html
https://pages.ebay.com/payment/2.0/terms.html