Did I read it right ? Under their new conditions they can withdraw funds from my bank account ?
- posted
2 years ago
ebay new conditions
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- posted
2 years ago
Just like your gas/elec/water supplier?
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- posted
2 years ago
yip
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- posted
2 years ago
Presumably only if you've set up a direct debit. And surely only to pay for stuff or if you owe them fees.
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- posted
2 years ago
Seems to me that it works that way at the moment - PayPal takes the money from my bank account and gives the money to ebay (as it were).
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- posted
2 years ago
I think eBay are dropping Paypal or at the least setting up their own payment collecting system. I think the only difference is as you suggest, eBay take the monies directly.
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2 years ago
but then again so could paypal if you linked your bank account to be paid as a seller...but yes mangled payments requires you to link your bank account even to buy....
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- posted
2 years ago
nope
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- posted
2 years ago
So they're robbing from folk then?
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- posted
2 years ago
In practice it seems to work OK, having sold a few things recently. A couple of days after the sale, Ebay transfers the payment into my bank account.
They used to own PayPal. Sold it for a vast sum. Wonder if their agreement not to set up a competitor has run out? Bit like Screwfix and Toolstation.
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- posted
2 years ago
I think that happened already (last year)
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- posted
2 years ago
The didn't sell it for a vast sum at all
they demerged it
No money changed hands in this transaction (except to a few lawyers/financiers)
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2 years ago
You can be pretty sure someone profited out of it. But quite likely to keep it secret if possible. Especially from the tax man.
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- posted
2 years ago
everybody with eBay shares "profited"
because the value of the parts individually is expected to be greater than the whole (I haven't checked to see if it was)
but no actual shareholder money would change hands, unless individuals actually chose to sell their holding on listing day.
This type of transaction is one that is the going to be the most highly regulated of all
The complete integrity of the financial system depends upon it