You really want to avoid this for a number of reasons, one being that AAA charges both parties hefty fees for their services which would likely far exceed the value of anything that you sold.įortunately, if you wade through the fine print, you will find a link to an "Opt-out Notice" which you can print out and send to eBay's litigation department within 30 days of the date that you accept the eBay User Agreement. The way I read the contract language, the 3rd party eBay provider is not required to provide any advance notice to the Seller of an impending withdrawal.ī) eBay says that funds received by eBay from a Purchaser will likely not make it into the Seller's bank accounts for "a day or two," yet another provision says that the Seller should ship the sold item as soon as eBay notifies the Seller that eBay has received the funds.Ĭ) Another provision which is triggered automatically when you "accept" the eBay User Agreement is a mandatory arbitration clause under the auspices of the American Arbitration Association. You will likely want to keep a reserve of cash in your eBay bank account to cover any "surprise" debits. So, it would seem to be smart to set up a separate bank account for your eBay transactions so that you don't have a "surprise" at the end of the month when you are making the mortgage payment on your home, etc. The "fine print" being thrown out to eBay sellers via it's mandatory acceptance procedure is pretty mind-boggling and is difficult enough for an attorney to wade through, let alone for someone who has limited knowledge of the law.Ī couple of key points that I have spotted on a cursory reading of the sixty-page "Payments Terms of Use" agreement that is by reference incorporated into the required "Acceptance for New Managed Payments Sellers Who Successfully Complete The Managed Payments Onboarding Process" include the following changes:Ī) By clicking on the consent to terms button / URL you (also) agree to link a personal bank account with eBay's third-party payments provider and allow it to make payments AND WITHDRAWALS from your personal bank account. This is a bit off-topic, and perhaps in the wrong forum, but I suspect that there are some TO members who sell slides and models on eBay who may be affected by eBay's elimination of PayPal as its primary payment facilitator and its switch to a new third-party payments provider under its "Managed Payments" scheme.
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