New to EBAY

James240

I wanted to set up a sellers account on Ebay but the process has put me off altogether.....

Can anyone explain to me why they need ur Bank account details, i.e. account number, sort code, and address of ur bank?

I mean its not like the bank will release ur details becuase its covered under the data protection act..... So why do Ebay need it?

plus im extremly put off by the fact that i keep on hearing about accounts hacked or spoofed ........

monkeyspanner

I think it may be because part of the verification process is that e-bay put two small amounts into your bank account and by confirming these amounts to ebay you effectively are confirming you have access to the account information.

slowen

Think it must be down to verifying your details but cannot be sure as I registered nearly 2 years ago

Not had any major problems with ebay just a couple of nigerian scammers and non paying bidders

James240

Does any one else know? Monkey spanner what are these small amounts? is it like the put 1p into ur account and then request a refund?

Rikki

I've thought about selling on e-bay too James. I'm a little unsure about how it all works.

Let me know how you get on. Then you can help me.

pug_in_a_bed

I'm afraid i cant recall how much the ammount is, but is very small, and i also can't recall if its paypal or ebay or do this (this isn't very helpful is it) - BUT! you get to keep the tiny ammount, and let them know when its gone in and how much it is.

They want all your details for verification and also for paying your fees (can be done by direct debit if i remember).

melancholly

they put small amounts, under £1 in, then you tell them how much it was. i don't remember refunding them the money, but i could be wrong. if you follow all their instructions then it should be fine - problems with accounts being hacked are due to people giving their information to scammers via dodgy links in emails and people getting hold of login details, not due to ebay security letting that information become public...

Nadia

monkeyspanner wrote:

I think it may be because part of the verification process is that e-bay put two small amounts into your bank account and by confirming these amounts to ebay you effectively are confirming you have access to the account information.

It is Paypal that put 2 small amounts into your account during the verification NOT Ebay. As for the OP's question as to why they need our bank details I have no idea. Maybe someone else will shed some light on that one. Cheers

Nadia

wigginsmum

It's part of the antimoneylaundering identification process; they'll also check the address you provide to make sure you are who you say you are.

darktrader

Writing as an EBay seller of some years...

To sell on Ebay you need to verify you are who you say you are. AND assure Ebay that you can pay the sellers fees.

To do this you register a Credit Card and a Bank account.

With regard to the CC you are providing to Ebay NO MORE information than you would to any online retailer.

With regard to your bank details you are providing NO MORE information than you would to any retailer or utilities.

Personally, I use my CC to pay all sellers fees, automatically. Ebay e-mail me when they are due, then I check a few days later to see how much they've taken.

If anyone is serious about selling on Ebay, spend sometime reading up - on EBay - how it all works. Browse the forums too. (This applies to buying too.)

As with anything in life, if you're very nervous about it once you've read up on it - don't do it.

soolin

I have to second everything darktrader says right down to the fact that I pay my ebay fees automatically via a credit card.

Soo