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By law, they have to have your SSN for managed payments. They are complying with U.S. Anti-money laundering regulations, specifically the Bank Secrecy Act and more specifically the Customer Identification Program requirement. All financial institutions (which include services beyond just banks) are required to identify and verify the identity of their customers. Part of that process involves obtaining your SSN.
Ebay is also required to have systems to protect your personal information, such as your SSN (this is called PCI Compliance). Those systems are independently audited at least annually, but breaches certainly do happen but less so than in the past. Breaches are usually at businesses that were storing your information when they didn’t need to be (and thus were not being audited for PCI compliance) – they should have relied on only the financial services party to have that info.
Source: am an Anti-money Laundering Compliance Consultant when I’m not selling on ebay. š05/18/2020 at 2:39 pm in reply to: Scavenger Life Episode 463: The Painful Gaze Of A Boss vs The Freedom To Do What I Want #77529There were 3 estate sales in my town yesterday. Typically there are 1 to 2 on weekends in non-pandemic times. I understand some things being opened but people’s houses for an estate sale can quickly become overcrowded. I’d be interested in how many people actually went. I was tempted to go but truthfully, I’ve really liked staying home the past two months without any obligation to go anywhere, so I stayed home.
All thrift stores in town sound like they are open as are the two new Amazon Return stores. I discovered those right before everything closed for the virus. They are two separately owned stores, each selling items from Amazon return pallets. 1st day everything is $5 – no matter what it is. Sometimes people find drones, LED headlights for Jeeps, entire home security camera set-ups, tents, etc. 2nd day everything is $3, next day $2, then $1, then 50 cents. Sometimes if they get a ton of clothes or books, they’ll sell it by the bag full instead of per piece. I’m in love with the place because I love the hunt. I haven’t found anything super expensive (it’s mostly cheap Chinese junk that I think get returned because the original buyer was surprised by the poor quality) but the 4 times I went, I found profitable items to flip. I can hardly wait to go again! I’m giving it another few weeks before I head back into a place like that.
30 listings for me this week. I think I’ve emptied 5 death pile boxes since the quarantine started in Mid-March. I think I have 6 or 7 more to go but they’re all pretty large so I will probably not be emptying them quite at the same pace. Feels great every time I’m able to start on another box. Every box has had 1 or 2 higher end items that has made it worth it.
I’ve been tearing through my death piles. If I keep it up, all will be listed by mid to late June. For a few years I’d think to myself, one day I’m going to get through all of those bins and now is that time. I’ve been listing almost entirely clothing which is a grind but once I’m death-pile free I’m taking a clothing break! It’s too time consuming & there are too many instances where I did not see a flaw to the item until after I bought it.
To stay motivated I’ve been posting the # of items listed to the weekly Listing Challenge forum. It really has helped, even times when I’ve only listed 2 items – it was 2 more than I would have listed that week if not for the accountability of posting to the forum. I also get an endorphin kick seeing an item sell that had until recently been wasting away unlisted in a bin.
50 listings for me this week. Tried to hit 950 in active listings but things kept selling, which is a good “problem” to have. š
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This reply was modified 1 year, 4 months ago by
Julie B.
05/08/2020 at 10:02 am in reply to: How is USPS copping during the Pandemic? Just wondering….. #77225Seller Hub shows I’ve had 4 items that arrived late since March 29th, even though they’ve been shipped on time. Fortunately Ebay is not dinging us for these at this time. They shouldn’t ever ding us for delivery time beings it’s 100% out of our control but I digress…
The few times I’ve gone to the Post Office over the last few weeks to drop off packages, the lobby traffic has looked like Christmas season with the line stretching out the door when normally there are only 1 or 2 people ever waiting. Have never been more grateful that I can print my postage at home and just drop my packages in the bin at the post office.
05/07/2020 at 12:19 pm in reply to: Cub Scout books, Inter Milan soccer uniform, Pioneer Stereo, Wet N Wild hat #77198Those Cub Scout book covers could be framed as art – I love the look of them.
Ebay recently announced that you can now use GSP while on managed payments. https://pages.ebay.com/seller-center/service-and-payments/managed-payments-on-ebay.html
Found another link for reporting suspicious activity, this one specific to suspicious buyers. https://www.ebay.com/help/terms-conditions/default/avoiding-payment-problems?id=4660
Go to the section under How to avoid scams and fraudulent payments
Within that section are several links to click that will take you to a page to report a suspicious buyer.There are articles on how to report phishing emails but it seems geared toward reporting those phishing emails that are made to look like they came from ebay, rather than from a potential fraudulent buyer. If you want to try it anyway, go to https://pages.ebay.com/securitycenter/index.html and then half way down page under REPORT A CONCERN click Report a Fake Email.
28 for me this week. My store now has over 900 listings – 906. If I wanna keep it over 900 I need to list, list, list this week. Sales are up 94% the last 30 days compared to this time last month – crazy!
Ebay has fixed it so that you can now sell thru GSP with Managed Payments. That was a big sticking point for me. They will also pay postage out of what you received from the buyer before they deposit it into your account, if you want them too.
While I’m hopeful that maybe Managed Payments could increase sales for me somewhat due to buyers’ having more payment choices, I’m not looking forward to changing how I do things. I like having my ebay funds in a separate paypal account that I can transfer over to my bank acct in large chunks. It feels good to transfer over several hundred dollars at a time. I think having small amounts go in daily won’t feel as satisfying.
A potential issue is some banks may require us to set up a separate business account when they see the new activity going into our accounts because most banks have specific policies about their customers intermingling personal funds with business funds, even for those of us operating as a sole proprietor dba. One reason they do this is because they charge business bank accounts higher fees.
04/30/2020 at 10:34 am in reply to: 5th burner, Train books, Large Backgammon board, Kitchen clock, Magazine rack #76860April has been my most profitable month in two years. I really thought sales were going to tank due to all of the economic uncertainties. I did list a lot more this month than normal. But I also think people are bored working from home so they’re online shopping.
All of my highest profit margin items were clothing this week.
The best sale was a vtg pair of Hercules Bib Overalls that sold for $99.99 within 2 days.Sold a Formula 1 Red Bull racing Puma Polo shirt for $39.99. It had the logos of other car companies on it but I knew at least one of those would get me a Vero if I listed out the name so I left it off of the title and it still sold quickly.
Sold a Adrianna Papel Evening gown for $79.99. Interesting that anyone would be in the market for a gown right now.
Sold a NOS Champion 1996 Atlanta Olympics t-shirt within one day for $29.99.
I think nearly all of these items were sitting in my death-piles.
04/30/2020 at 10:15 am in reply to: 5th burner, Train books, Large Backgammon board, Kitchen clock, Magazine rack #76857Thank you for the videos Steve and Christine.
Christine, I learned from you that the label with the bug next to Vera is Vera Neumann. I just had a dress of hers that I put in the donate pile two days ago because of a slight defect. I may have to take another look at it.
Can I just say, good call on putting the roaster in a separate space. My local coffee shop has their roaster in the middle of the cafe. Between the roaster running fairly often and college students ordering obscene amounts of frappuccinos requiring almost constant use of a blender, it’s so loud in there that I rarely go anymore.
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This reply was modified 1 year, 4 months ago by
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