The Future Of Stamp Selling On Ebay

I see ebay are wanting to manage seller payments. They are going to stop immediate payments into PayPal and collect the payments themselves. Then deduct the fees and disputes and give sellers 1 daily payment to the bank. The transfer to the bank will take 2-4 days to clear. If you set your handling time to one day you have to ship before you see the payments. You also have to trust that ebay will give you the right amount of change. Personally this scares the pants off me when they can't even fix glitches. On the stamps and cover side of things will you keep using ebay for selling stamps once these changes come in? I believe they are in beta test mode by September for this change. Traditionally I always liked having immediate payments via PayPal. I dislike the idea of daily combined payments where by any problem occurs its likely to hold your daily payments up further. The future maybe selling stamps on eBid? Or are you happy with the above mentioned upcoming payment system with ebay? I'll sell on ebay till they ditch PayPal as payment processor for sales. Has anyone used eBid and gotten good stamp sales?

My money from payments from customers does not go into the bank. It goes to my Paypal credit balance. Then if I wish I can let that accumulate and do a transfer to my checking account.

Is this something unique to ebay Australia?

This is what is changing. In ebay USA its in trial mode from September. Then Oz and UK will likely follow within a year. You will no longer have a PayPal credit balance accumulating from sales. You will only use PayPal for buying. Your sales will be collected by ebay instead of PayPal. ebay then take fees etc and send what is left over direct to your bank, the transfer will take 2-4 days. Immediate payments to PayPal will be gone by 2021. If USA is trying this you can bet Oz and UK to follow. If you then want to use PayPal for buying you will have to send funds from your bank to PayPal

The day that ebay is no longer required by contract to have buyers pay by paypal is coming soon and as the payment processing was the cash cow for the old ebay company (which they lost to the new Paypal company) ebay is eager to gain back that revenue stream so in the future the money will reside inside ebay and not your paypal balance.

Correct PayPal will be for other sites like eBid and for buyers only on ebay. I wonder if this is a way for ebay to invest large amounts of sellers funds for short periods?

From what I understand you can elect to continue using Paypal as your bank . You can tell customers to transfer funds to Paypal and you don't accept payment to ebay .

The danger here is that Paypal sets up their own auction services to compete with ebay. It only takes a small fraction of customers to leave to have a major impact to ebays bottom line .

I can see a stock play here -----Paypal stock takes a hit with this news as it nose dives ,then ebay finds out it screwed up and decides to buy out Paypal stock and takes over the company and Paypal stock goes thru the roof .......hey I traded all my life and look for stuff like this .

Until we see what is actually implemented, there is a lot of speculation and handwringing. While bank transfer may be a dominant payment method in other countries, it is not here in the U.S., so there very well may be a PayPal option for sellers to receive payments from ebay, not just bank transfer.

Additionally, there is wide disagreement in interpretation of what PayPal's presence will be on ebay after 2020. The assumption is being made by some that PayPal will be gone from ebay, whereas what I am reading is that while PayPal will no longer be THE payment method for buyers to use on ebay, I've seen nothing that says that PayPal will no longer be an option for buyers to use.

I'll worry about it once things actually come to pass. Otherwise it's just borrowing trouble and stress this far out.

P.S. This issue was previously discussed at length here:

https://goscf.com/t/59007

DUNCAN ----Not in the UNITED STATES ,for ebay to hold customer funds they need to apply as a bank with the U.S.Treasury Department . Holding to the same rules as a bank and restricted to handling customer funds to U.S.Treasury paper as segregated funds ,sorry no investing .

As far as I know PayPal is not a bank, the money still goes to ebay first collected by them, then Adyen puts to an actual bank account. Then you can transfer anything (if anything left)to PayPal. I have not seen anywhere that you will still be able to elect PayPal as a bank. They are going to ask for everyone's social security numbers and bank account details in USA apparently. Also Aussies are now forced to pay 10% online buying tax when you buy from overseas sellers, a real game changer. USA will be hit with 8% state taxes. One thing I noted on eBid for a small charge you can have a life time of no fees.

Floortrader I believe Adyen is going to be the ebay bank. As stated in the other thread a European firm. They will have every sellers data stored over there. I'm happy if PayPal can be elected as a bank for Adyen to send the sales transfers. But am not happy that there will be delays because of the payment collection at eBays end. If PayPal is no longer used as an option to receive the direct daily payments that maybe end game for me. Been on ebay since 2004. I see to many changes to much money grabbing. There will be nothing left for sellers as cost continues to rise.

No banking in Paypals future.

https://www.thestreet.com/investing...ion-14549947

There for I see no way sellers will be able to elect PayPal as their bank when ebay makes the change. Will you all stay selling on ebay when you have to wait most of the week to get combined sales payments?

Used ebay since it was called auctionweb in 1996. At first it was free and starting price was usually 1c for average items, but eager buyers usually put it into average price area! Oh I wish for the old days again, and I am not over 65 yet! After it went public as ebay, they charged a small listing fee and a small final value fee. Everyone was fine with that. Back then you could use cash, money orders, cheques, cert cheques, xe currency xchange, stamps and even good old cash. Then they bought paypal, and forced us to use that method; and now are seperate, somewhat. Fees just keep going up, somewhat like the auction houses. If people wonder why they cannot find material and the starting prices of items are so high; one just has to look at fees. Also don't forget that all countries you are importing into want their share of taxes on bought items as well as income from sales too! That is another reason for channeling funds through traceable accounts. Everyone other than the property owner-seller is making money.

Bring back the good old days. Perhaps selling common stamps online days are numbered. Quote 'Everyone other than the property owner-seller is making money.' I tend to agree here. With Oz 10% selling fee on hobby stamp business per sale and now 10% buying from overseas sellers fee added really hurts the end profit. In fact there is very little profit left. I can't see it lasting when fees go up again and probably with this new change there will be hidden fees for it as well. You can only put your item sell price up so high before no one buys it. eBid is much like the old ebay.

The 10% GST that Australians are now being charged applies to the sale price + shipping. If you have a 5% off voucher the GST is calculated on the pre voucher amount.

That 10% makes a big difference if you are buying high volume to resell back on ebay