Ebay sellers - did you update your account?

[moneybags]

Ebay is changing the way they do things. The new set up requires you to enter your social security number. I'm not crazy about this idea. Has anyone here updated their account?

[HundredK]

I quit ebay a few years ago. Their fees got way too outrageous. I'm sure they're doing this for tax reporting purposes. You might give them a call and push them as to whether it's really required.

[QuarterMillionMan]

New information to me. I was wondering about the taxes generated from sales. Social security numbers might be how it all plays out.

[disneysteve]

I haven't heard anything yet and I've both bought and sold on ebay within the past 2 weeks. They may be rolling it out in phases.

[moneybags]

I've gotten a few emails about it. It looks like it depends on some of your current settings, but may eventually affect everyone in 2021. Here is the link to the update:

[disneysteve]

I've gotten a few emails about it. It looks like it depends on some of your current settings, but may eventually affect everyone in 2021. Here is the link to the update:

So it looks like they are completely eliminating PayPal from the process. Currently, buyers pay with PayPal. My ebay seller fees are then charged monthly to my credit card.

Under the new system, ebay will process the payments themselves, deduct their fees, and send the balance straight to my bank account (hence the reason they need my SSN). It may actually be cheaper since we won't be paying the PayPal fees anymore.

I can understand them doing this. They used to own PayPal but they spun it off in 2015. I guess they want to cut ties entirely now.

[disneysteve]

I got that email yesterday. I guess I was in the next wave. I just updated everything on my account as I do plan to start listing some items after the holidays.

[cypher1]

I must have missed the message or email, as I just posted a few items for sale.

[disneysteve]

I must have missed the message or email, as I just posted a few items for sale.

It seems to be going in waves. I got my email last week. Yours will probably come soon.