I’ve had an email from ebay stating they are changing from paying to paypal & instead to bank account. Please enter bank details.
Is this correct?

Yeah. Its the new system. Slightly better in some ways, slightly worse in others. Not a big deal. Been using it this way for about a month without any issues

Edit: there probably are scammers cashing in sending phishing emails so make sure you are on the proper site

I asked this question just recently as I thought it was a scam and yes, it is legit though it does feel a bit scamtastic…

Cheers guy’s – anything like this makes me very nervous these days.

Just go into Ebay and do it through there instead.

As others have said, ALWAYS go to the site via your own bookmark and never via a link on an email.
If eBay need you to do some thing you will have a message in eBay.

As for the process, yes works fine and I get the money into my bank account within 2 days of selling the item. I used to like having funds go to PayPal as I would use that balance to buy stuff, sort of separating it from ‘normal’ money but I have got over that.

Open a new account with your bank and keep the minimum in there to prevent eBay’s arbitrary refund policies. Withdraw your sellers fees into your main account after you’ve been paid so eBay can’t get your money.

Don’t forget eBay are now making massive extra profit out of the 2 day payment gap. Did you know they loan out your money to financial institutions to play on the stock markets with big returns?

Colour me shocked. I’ve not seen anything to indicate this is in any way good for the seller. Just the way of the world.

This is probably the final straw with eBay for me. One of the only decent things about it was the ability to get paid instantly, now that’s gone…

Anything of value has been going on Gumtree/FB Marketplace for a while. Too risky with ebay’s chargeback policies. eBay is good for shifting all that accumulated cheap tat so suppose I will have to sort it out at some point.

Colour me shocked. I’ve not seen anything to indicate this is in any way good for the seller. Just the way of the world.

It’s marginally cheaper compared to PP fees, sub 1%, but it takes up to 2 days for eBay to ‘process’ the payment, then they seem to have devised a way to send payments that take up to 4 days, so you’re waiting 3-4 days on average from sale, to money you can spend. That might bother you, it might not, but in any case, whilst eBay is holding all those millions of £s and $s etc, they making money with it.

It requires you to have a Direct Debit in place so I suppose if you get into a dispute, it’s coming out of your bank whether you like it or not and you lose PP protection (for what it’s worth as a seller).

I’ve not seen anything to indicate this is in any way good for the seller.

It can work out much better for the seller. On £1 max fees listings you do only pay £1. Sell something for £300 and get £299 in your bank, albeit after 2 days. Much better than paying paypal fees. On a normal fee listing it is about the same. I do miss the “paypal money” to use instead of real money, though.

The delay of payment is a bit disconcerting for us occasional sellers, but apart fromthat it seems ok. Ebay’s way of saying “You’ve been paid! Now post!” is the most annoying thing about it. I haven’t been paid until the money is in my account you gits. So I’ve now put a 2 day wait on my sales before posting.
On a previous thread about this, I posted a link where you could opt out and go back to the old payments – but they’ve removed that by the look of it.

Business finds way to make slightly more money at expense of customer.

I’m not a fan of losing the wafer thin paypal protection layer. But by the same token I have only shifted stuff of low value through Ebay for a long time now.