Bank usage over PayPal

LightKnow

Hi everyone, couldn't decide what section to ask but hopefully this right
So I been looking into selling on eBay or similar sites. But am not sure if should use my separate bank account I got or use my PayPal. 
Am guessing I need to way there pros and cons . But I really can't think what benefits PayPal would have over a bank account I use totally separate from other 

soolin

Biil said:

Hi everyone, couldn't decide what section to ask but hopefully this right
So I been looking into selling on eBay or similar sites. But am not sure if should use my separate bank account I got or use my PayPal. 
Am guessing I need to way there pros and cons . But I really can't think what benefits PayPal would have over a bank account I use totally separate from other 

Firstly I have moved this to the ebay section of the forum.
I don’t fully understand your question, but will answer as best I can.

When selling on eBay if you are NOT on managed payments then you must use PayPal, you cannot list without showing PayPal as your preferred  option so you cannot accept direct bank payments unless a buyer offers it (and that rarely if ever happens).

If you are in managed payments then again you do not get the choice, you are paid via the ebay system through Ayden and the money goes direct to your nominated bank account. Once on managed payments to option to use PayPal as a seller disappears. 

LightKnow

soolin said:

Biil said:

Hi everyone, couldn't decide what section to ask but hopefully this right
So I been looking into selling on eBay or similar sites. But am not sure if should use my separate bank account I got or use my PayPal. 
Am guessing I need to way there pros and cons . But I really can't think what benefits PayPal would have over a bank account I use totally separate from other 

Firstly I have moved this to the ebay section of the forum.
I don’t fully understand your question, but will answer as best I can.

When selling on eBay if you are NOT on managed payments then you must use PayPal, you cannot list without showing PayPal as your preferred  option so you cannot accept direct bank payments unless a buyer offers it (and that rarely if ever happens).

If you are in managed payments then again you do not get the choice, you are paid via the ebay system through Ayden and the money goes direct to your nominated bank account. Once on managed payments to option to use PayPal as a seller disappears. 

Sorry for not being clear, I explain properly
So am thinking of selling online through places like eBay , etsy , Amazon etc 
But Am trying to consider do I need PayPal or would bank account suffice or shall I use both depending on what the site prefers . Am guessing PayPal or using my bank card will have there pros and cons . E.g I heard PayPal can hold your money which can cause issues but then am thinking would I be protected enough if I use my bank details to receive money 

jon81uk

Biil said:

soolin said:

Biil said:

Hi everyone, couldn't decide what section to ask but hopefully this right
So I been looking into selling on eBay or similar sites. But am not sure if should use my separate bank account I got or use my PayPal. 
Am guessing I need to way there pros and cons . But I really can't think what benefits PayPal would have over a bank account I use totally separate from other 

Firstly I have moved this to the ebay section of the forum.
I don’t fully understand your question, but will answer as best I can.

When selling on eBay if you are NOT on managed payments then you must use PayPal, you cannot list without showing PayPal as your preferred  option so you cannot accept direct bank payments unless a buyer offers it (and that rarely if ever happens).

If you are in managed payments then again you do not get the choice, you are paid via the ebay system through Ayden and the money goes direct to your nominated bank account. Once on managed payments to option to use PayPal as a seller disappears. 

Sorry for not being clear, I explain properly
So am thinking of selling online through places like eBay , etsy , Amazon etc 
But Am trying to consider do I need PayPal or would bank account suffice or shall I use both depending on what the site prefers . Am guessing PayPal or using my bank card will have there pros and cons . E.g I heard PayPal can hold your money which can cause issues but then am thinking would I be protected enough if I use my bank details to receive money 

You are probably better protected if a site pays out to your bank as you then have the money. But having it in PayPal is generally safe and you can withdraw it.
In terms of different places to sell, eBay is as Soolin pointed out now paying out into bank accounts. Amazon is the same but takes longer and is more restrictive.
Gumtree and Facebook you can do whatever you like so PayPal or cash on collection is normal.

LightKnow

Thank you for the information, just last thing I want touch up on, when I look at Amazon it asks for account type and there only two options checking and savings. I never heard of checking ( what is this) do I go for savings ? 

soolin

Biil said:

Thank you for the information, just last thing I want touch up on, when I look at Amazon it asks for account type and there only two options checking and savings. I never heard of checking ( what is this) do I go for savings ? 

Checking account is the US term for a current account, make sure you are setting up to sell on the UK site! 

As per jon81uk most sites have their own payment systems so you don’t get to choose, the only one previously missed was Etsy which uses Etsy payments (and have also just increased their fees by a small percentage for some extra admin tax or other). 

It’s really only the app based sites like gumtree or marketplace that currently allow you to use your own payments. I still sell a fair bit on some specialist Facebook groups (as well as marketplace) and even some groups insist on PayPal goods ONLY being used when selling. Asking for a bank transfer can look a bit scammy , so beware of that. 

LightKnow

Thanks been very informative, Just to go back to Amazon. It does not have UK selling site but when your making account it asks were your located and asks for iban and BIC number. If checking account is US current account. Would I select this ? Am guessing with the information I give they will do like a international transfer or pay in ?

RFW

Biil said:

Thanks been very informative, Just to go back to Amazon. It does not have UK selling site but when your making account it asks were your located and asks for iban and BIC number. If checking account is US current account. Would I select this ? Am guessing with the information I give they will do like a international transfer or pay in ?

There is a UK selling site for Amazon. You must be on amazon.com. If you're UK based and selling in the UK you should be registering in the UK.
If you're selling on Amazon you'll need a bank account. Paypal is not accepted there.

Moogles44

I prefer PayPal and am dragging my feet on switching to ebay banking my money into my bank on my private account. Apparently it does cost a little more but PayPal have had my back numerous times as a seller or buyer whereas ebay rarely ever have as a seller. I’m gutted about when I have no choice but to switch as I have found PayPal brilliant when problems arise and when ebay have not been any help . They have given me refunds a number of times even though some dodgy buyers have managed to fraud their way into winning cases.

LightKnow

@RFW Take a look, I know there's UK site for business side but if your doing merch, there is only . Com 

@Moogles44 Thanks for sharing your experience, this gives me more hope in PayPal.. Surprised though, never thought PayPal have your back over eBay. Considering your using eBay platform. I have to see what I get what n where . Thanks for your share 

soolin

Biil said:

@RFW Take a look, I know there's UK site for business side but if your doing merch, there is only . Com 

@Moogles44 Thanks for sharing your experience, this gives me more hope in PayPal.. Surprised though, never thought PayPal have your back over eBay. Considering your using eBay platform. I have to see what I get what n where . Thanks for your share 

What is the difference between ‘selling’ and ‘selling merch’? I really don’t think you want to be selling on Amazon .Com unless you can comply with all the tax and import/export requirements which are a potential minefield. I would also just point out that whilst RFW is helpful and knowledgeable about ebay AFAIK their main, (large) business is on Amazon, and they would always be the person I defer to for information about Amazon as I have not sold there for years.

Incidentally are you selling as a private seller clearing your unwanted items or as a business as for some sites that makes a difference with fees etc.