eBay Wire Fraud (not humorous...)

umtrr-author Jun 25, 2021

  1. umtrr-author

    umtrr-author TrainBoard Member

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    Interesting idea to cut ties with Paypal.

    Here's another potential reason, more for sellers than buyers: In August they are raising many of their fees. So is their wholly-owned Venmo.

    Given that eBay "covers" Paypal fees with their "new" (read: increased) seller fees, I wonder if they will go up AGAIN to cover a pass-through increase in Paypal fees, even though it's likely that other credit card fees will not increase. Or will they just punt Paypal altogether?
     
    BoxcabE50 and Hardcoaler like this.
  2. BoxcabE50

    BoxcabE50 HOn30 & N Scales Staff Member TrainBoard Supporter

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    Interesting questions!!!
     
  3. porkypine52

    porkypine52 TrainBoard Member

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    Feebay now has cut payments by PayPal? Or getting ready to do? I guess I've got some reading to do. Just another reason to back off FeeBay. Not been buying or selling lately on FeeBay. So I guess FACEBOOK is going to become the newest buy/sell website? I still pay to use Trainboard and others, but FeeBay does have a BIG audience. HMMMMMMMMMM
     
  4. Run8Racing

    Run8Racing TrainBoard Member

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    JMaurer1, sorry for late response, but that's exactly what I asked PayPal. They would not even show me the posting !!! If they didn't create the scam themselves, they Damn sure worked with whoever did. I didn't lose a dime, just got REALLY ANNOYED !!!
     
  5. umtrr-author

    umtrr-author TrainBoard Member

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    No, eBay hasn't actually cut payments by Paypal. They still offer it as a choice. What has happened is with the "Managed Payments" program, eBay is now taking 12.55 percent plus 30 cents per transaction. That, presumably, is their usual 10 percent plus the 2.55 percent and 30 cents to cover their processing the credit card payment on your behalf.

    My speculation (and only that) is that with Paypal raising the fee it charges to 3.99 percent, eBay will not want to cover that with "only" charging the seller 12.55 percent and giving 3.99 of that to Paypal. So eBay can either dump Paypal or demand a better deal, or raise everybody's seller fees again. I can't imagine they will do nothing.

    As for Facebook groups, I'm on one and many of the listings I've seen include that the seller will not accept Facebook payments. They prefer, guess what... Paypal. Not a statistically valid sample, this, but still rather amusing.
     
    BoxcabE50 likes this.
  6. porkypine52

    porkypine52 TrainBoard Member

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    From what I now understand: FeeBay is going to raise costs for Buying & Selling. FeeBay will now MANAGE Buyers payment to the Seller. The payment can go directly to PayPal or go directly into Seller's bank account. Sellers will need a bank account directly tied into their FeeBay account.

    OH-GREAT now FeeBay will supposedly have access to my bank account. I don't think so. I will opening a NEW bank/credit union account, that is ONLY tied into FeeBay and PayPal. I will go ahead and change my PayPal bank account into a newly opened bank/credit union account. FeeBay can claim all they want to that the bank/credit union account will be SECURE, but with the way things are going now days, I'm a little gun-shy of ANYTHING that involves an ONLINE bank/credit union account number being linked with FeeBay or PayPal. And posting a credit card number online for that matter also. With all the online Hacker and silliness going on, it is just a matter of time before some goof-ball, figures out a way to exploit this.

    And what is wrong with Sellers and Buyers using Money Orders, Cashier's Check and Personal Check for payment? This is if Sellers agree on forms of different forms of payment accepted? I guess FeeBay is scared of losing their cut?

    I find I'm using FeeBay, less and less, and I think others are too. FeeBay's one big advantage is AUDIENCE. That FeeBay is world-wide, cannot be denied, is TRUE. TRAINBOARD and others are out there for use.
     
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  7. umtrr-author

    umtrr-author TrainBoard Member

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    Managed Payments, as eBay calls it, has already happened to a large extent. Sellers are, to put it mildly, furious. Whereas Paypal would instantly credit the seller's Paypal account when payment was sent by the buyer, eBay takes... its... time... to... deposit...

    But you're still expected to ship before you get the money in your bank account.

    I tried one minor sale just to see how it worked. I increased my handling time to five days and explained precisely why I did so. I have not sold anything since.
     
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  8. Shortround

    Shortround TrainBoard Member

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    I've seen this in other places as well. And other bankers joining in. (n)
     
  9. BoxcabE50

    BoxcabE50 HOn30 & N Scales Staff Member TrainBoard Supporter

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    Well, our Swap Meet is still open. While it has set guidelines for use, it is not regulated to oblivion, nor is it milked to death for profits. It costs you nothing!

    Yes, TrainBoard reaches a smaller audience. (We are well over thirty two thousand users here and continually growing.) The way to get more eyes on listings is to list more items that will have interest for our fellow train hobbyists. And to spread the word this FREE service is available.
     
  10. Hardcoaler

    Hardcoaler TrainBoard Member

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    My wife closed out our PayPal account and transferred the balance to our bank. We've regularly used it with eBay for 15+ years, but there's no point in having it, with it now being just another eBay payment option. eBay promptly sent this warning:

    You have missed the deadline to update your account details for the new eBay payments experience, and your ability to create, revise or relist existing listings has been disabled.

    Oh well. :sleep:
     
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  11. mtntrainman

    mtntrainman TrainBoard Supporter

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    I quit selling on EBay 15 years ago. I left $1.17 in my paypal account back then. I wonder if it's still there...:ROFLMAO:
     
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  12. John Moore

    John Moore TrainBoard Supporter

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    Are they subject to having to pay interest on the account?
     
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  13. MK

    MK TrainBoard Member

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    So it's an experience now??? :p:ROFLMAO::LOL::D
     
    Hardcoaler likes this.
  14. Shortround

    Shortround TrainBoard Member

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    I rejected them many years ago and now there others doing the same.
     
  15. BoxcabE50

    BoxcabE50 HOn30 & N Scales Staff Member TrainBoard Supporter

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    I quit selling there in November of 2008, when they made the Feedback system one-sided. (And a couple of other things as well.) Until that time I had been fairly active both buying and selling. I know so many who have dumped them as well.

    Since then, I have made exactly six purchases. Only when I could not find something elsewhere. Their loss of revenue, not mine. I rarely ever even look, except when someone points out another of the idiotically listed items and I need a good laugh.
     

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