Coming Soon: Selling on eBay without a bank account?

[rkagerer]

TLDR: A rep told me sellers will soon be able to directly spend money eBay collects on their behalf, to make your own purchases from other sellers.

I took a haiatus from eBay for the last year, after they removed Paypal as a mechanism for sellers to get paid and forced everyone to link their bank accounts.  Here's one user's perspective, if you don't know what I'm referring to:

https://community.ebay.ca/t5/Seller-Central/eBay-Managed-Payments-Sucks-the-Purpose-Out-of-Selling-b...

For my part, I have no interest in creating any connection between my bank account and eBay (or in opening a new bank account just for them).  Apparently doing so gives eBay access to withdraw funds, and I've read horror stories in these forums and elsewhere of users who had withdrawals made from their accounts without authorization.  I carry enough balance in my chequing account that granting a company like eBay access presents an unacceptable risk.  Even if it didn't, I simply don't want this function foisted on me.  Back before Paypal was a thing, buyers and sellers arranged their own settlement, and I'm disappointed that option has been removed.

Anyway, at the time, eBay disabled all my listings and wouldn't let me create any new ones until an account was linked.  I knew there would be a ton of negative user feedback to this move by the company, so I decided to just "wait it out" until they came to their senses and offered other options.

Fast forward to today.  I discovered eBay is letting me list items again, without requiring I first link my bank account.  I was in touch with Support to ask about what happens to the funds if I never link the account, and learned something interesting.  The rep told me that very soon they will be introducing a feature that lets you spend funds you've recieved as a seller - on your own purchases from other sellers.  According to him your balance on the platform will act as a mini 'bank account'.  The employee was new and said the upcoming feature was mentioned more than once in part of his onboarding training.  He doesn't know exactly when it will be released, but I got the impression it may be coming within the next few months, and probably won't be available in all regions right out of the gate.

Would love to hear from anyone else who's heard rumours of this!

[brettjet38]

You will still need a Bank Account to withdraw the money, otherwise, it's eBay "cash" to spend only on eBay, which makes no sense.

[recped]

eBay first talked about this back in 2018 when Managed Payments first became a serious thing.

In March there was an official announcement in their Investor Day presentation for Q1

https://community.ebay.com/t5/Announcements/Announcing-the-eBay-Vault-and-What-s-Next-for-Our-Market...

This was in the Spring Seller Update

https://www.ebay.com/sellercenter/resources/seller-updates/2022-spring/financials

It's vague as to the implementation date as usual....

2018 "at some point down the road"

March 2022 "Beginning next quarter" (is that Q2 or Q3?)

April 2022 "In the coming months"

Maybe we will see something in Q4 or perhaps it will morph into "early next year".

This is really a thing for the unbanked, that is not an insignificant number but being unbanked in 2022 tends to be the same people who are offline with sporadic access to the internet.

It could be useful for foreign sellers from countries with limited access to local banking.

The primary benefit of course goes to eBay, their costs to process payments from an in-house digital wallet are almost nil but they will still be charging the same seller fees (it's the secret sauce that made PayPal)

[reallynicestamps]

For my part, I have no interest in creating any connection between my bank account and eBay

Since you didn't have a bank account or credit card attached to your Paypal account, how did PP send you money?

Or did you just keep the balance, interest-free, with PP in case you wanted to buy something from a merchant who took PP? (And pay your monthly eBay fees of course.)

I discovered eBay is letting me list items again, without requiring I first link my bank account.

They've been doing that recently but...

The rep told me that very soon they will be introducing a feature that lets you spend funds you've recieved as a seller - on your own purchases from other sellers.

"Real Soon Now".

Uh huh.

He doesn't know exactly when it will be released,

"Real Soon Now".

Uh huh.

Well that would be great for eBay.

Any money earned on eBay gets spent on eBay.

I hear an old Tennessee Williams song for some reason.

https://www.youtube.com/watch?v=Joo90ZWrUkU

[brettjet38]

...well with everyone's money going into their bank accounts, people realized they could use it for other important things and did, as sales on eBay are in freefall as is membership. 

Inflation

Shipping Costs

Recession next year...

[lotzofuniquegoodies]

---

@recped wrote:

eBay first talked about this back in 2018 when Managed Payments first became a serious thing.

In March there was an official announcement in their Investor Day presentation for Q1

https://community.ebay.com/t5/Announcements/Announcing-the-eBay-Vault-and-What-s-Next-for-Our-Market...

This was in the Spring Seller Update

https://www.ebay.com/sellercenter/resources/seller-updates/2022-spring/financials

It's vague as to the implementation date as usual....

2018 "at some point down the road"

March 2022 "Beginning next quarter" (is that Q2 or Q3?)

April 2022 "In the coming months"

Maybe we will see something in Q4 or perhaps it will morph into "early next year".

This is really a thing for the unbanked, that is not an insignificant number but being unbanked in 2022 tends to be the same people who are offline with sporadic access to the internet.

It could be useful for foreign sellers from countries with limited access to local banking.

The primary benefit of course goes to eBay, their costs to process payments from an in-house digital wallet are almost nil but they will still be charging the same seller fees (it's the secret sauce that made PayPal)

---

@rkagerer 

Second the motion on vague. Same thing happened when eBay posted in a Spring or Fall Announcement several years ago new store options for Canadians. Major tape delayed!!!

When the OP was speaking to "artificially simulated" CS most likely that info was released without the consideration the OP was in Canada. The majority of eBay offers historically arrive in Canada later and often not exactly as they work in the USA. From past experience the only changes that arrive on time are increases in fees or eBay features we know and loved that have that for some unknown reason are being removed.

Personally I choose not to make purchases using a CC so not having funds readily available in PayPal as in the past had drastically reduced any urges to purchase on eBay. Guessing many other sellers are in the same boat. Becomes a situation when purchasing is made when something is need vs a want so maybe in that regard a good thing. Just not so good for the sellers that are now hurting because of it. Call it collatoratoral damage removing the PayPal wallet. Maybe eBay's variation of this wallet will be sooner vs than later it they are truly seeing a the drop in sales on their platform as many sellers are reporting.

-Lotz

.:.eBay Words of the Day: Improvement, Automagically and Level the Playing Field.:.