eBay going to 100% electronic payments only

[Tommy]

I haven't been burned by paypal "yet"... I would rather them leave it alone and let the check and Money order people stay around. I got burned once on a 6 dollar decal that never showed up after several emails and a promise to send a second one... Almost got burned one time on a deal made after an auction ended... He got my 400 bucks plus change and several months later I finally got my part after many phone calls... Last deal I will make like that one. I do use paypal, I use a bank that is separate from my regular bank so if something happens it isn't going to affect my other finances. After several years of Internet, I am still scared of online transactions..... I probably always will be... I still use stamps and snail mail for most things even though everyone trys to get us all to do every single thing in life online ...


Tommy

[lbnaz]

I have never accepted pay pal nor do I have an account. It protects the buyer and not the seller. I have had only one bad check in 8 years and it was made good after notifing the buyer. Time to look for another source to sell items. Larry.

[FASTONE]

Looks like the IRS will now get what they have been wanting---an indisputable paper trail that will be simple to get. It also appears ebay is bound and determined to kill the golden goose by giving all of the leverage to the buyers. Ebays forums are full of sellers who have sold big ticket items, gotten paypal for payment, sent the item in good faith, only to

[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.

[John Brown]

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

[/ QUOTE ]

Looks like ebay may have a few more lawsuits.....

[copo69]

looks like Ebay is pandering to the "commercial" type of seller

[firstgenaddict]

Ebay is pandering to the government...