eBay going to 100% electronic payments only

[FASTONE]

have the buyer claim the item never arrived and get a refund from paypal. To make up for it, the buyer usually leaves a negative feedback though. I will only sell $100 and under items on ebay from now on, but will sell my rare NOS stuff here and in Hemmings. Time to sell the ebay stock!!!

[69B Z28]

Looks like it's just part of the master plan after reading legislation recently passed by Congress buried in the Housing Relief Tax Bill.

Payment Card Reporting:

"The legislation will require institutions that make payments to merchants in settlement of credit and debit cards, as well as third-party payment networks such as PAYPAL, to report the gross amount of settlements they pay to, or for the benefit of, merchants and other recipients beginning in 2011. Treasury is authorized to establish rules under which the information returns will be filed."

"In the case of third-party payment networks, reporting would only be required on payees who receive at least $20,000 in income from the transactions each year or participate in at least 200 transactions in a year. However, there is not a similar de minimis rule in the case of CREDIT and DEBIT cards. Reporting is required with respect to all payees, including INDIVIDUALS, corporations and partnerships."

" The new reporting requirements will apply for settlements occurring in calendar year 2011. Back-up withholding for those who do not provide a valid taxpayer identification number will be required beginning in 2012."


Money orders and Checks are not their "friends" with this new legislation!

[FANTASY FACTORY]

A postal money order is considered same as cash.
and last time I checked it was ILLEGAL to refuse cash as payment for debt.

[COPO 70 RS/Z28]

[ QUOTE ]
"" I always used Paypal, thinking that it was a Good, Safe way to transfer Money.....Which it is......Plus....I never let them take the money directly from my Bank Account, I always used American Express as my Funding source thinking that I would have a Double Guarantee and could challange a "Problem" by denying payment thru Amex...""


I do the same thing, I will not use a debit card or let paypal take money directly out of my account. As with both methods (Debit,or direct account transfer) once the money is gone its gone and regardless of what happens you have less of a chance of getting the money back if you have a problem.

I dont sell stuff so I cant comment on the sellers problems.

I find (at least on line) I will bid less for items which require MO's because of the hassle.

[GRB]

I've avoided PayPal after reading so many horror stories. Now, I'm not sure what to do. BTW - I'm a buyer, never a seller. Just sent a seller a personal check minutes ago!

[WILMASBOYL78]

I only buy from Sammy...he accepts Tasty Kakes...Canolli's and provlone

wilma

[Verne_Frantz]

I am also very unhappy to hear this change of policy. I've been scared by all the terrible stories I've heard too and stayed clear of PayPal. I had planned on selling a lot of stuff in the near future, so now I don't know what to do. I think the time is ripe for another on-line auction business to start up, designed more like the original ebay and with lower fees.

As for protecting myself from buyers who claim they never received an item, I ALWAYS pay the extra for Delivery Confirmation through USPS.

Verne

[SuperNovaSS]

I wonder if I buyer could still pay by money order if they contacted the seller through the message system. This is pretty rediculous not that I thin about it.


Jason

[Mr70]

eBay is also extending it's standard auctions from 7 days to now be 30 days,starting Sept 16th.
It's also lowering the listing fee in hopes of attracting more sellers as well as buyers.

I've been having great success so far on our own For Sale/Wanted Classifieds ads sections right here on sYc and Craigslist.com too.Buying & selling with just one flat stated asking price.
...And no associated fees whatsoever.

[m22mike]

[ QUOTE ]
I only buy from Sammy...he accepts Tasty Kakes...Canolli's and provlone

wilma

[/ QUOTE ]

What the hell....no salami

Mike