That syncing feeling: 6 reasons to streamline your business finances
If you need to take control of your business finances, we've compiled 6 good reasons to sync up your accounting software so you can focus on growth.
If you sell on eBay, you won’t be able to receive payouts via PayPal anymore. Instead, payments will go directly to a bank account.
Buyers will still be able to use PayPal to complete purchases on eBay. They will also have multiple options to make payments such as Google Pay, Apple Pay, PayPal credit, gift cards, and debit and credit cards.
The update allows buyers multiple payment options without having to set up a PayPal account. And sellers won’t have to go through PayPal to get their payouts.
So, the short answer is no, it’s not possible to get paid by PayPal on eBay anymore. In the details below, we’ve summarized all the necessary information you need to know about this topic.
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Back in 2002, eBay purchased PayPal, but the two companies eventually separated in 2015 as PayPal grew beyond the auction site. In 2018, eBay began updating their payments system to enhance both the buying and selling experience for their users.
eBay has completely changed the way sellers are paid on the platform. Now, as a seller, you won’t be able to use PayPal as a means of processing and holding earnings—even if you do dropshipping. Instead, you’ll need to link a bank account to your eBay account in order to receive payments.
On the other side, buyers will have free rein to use PayPal and PayPal credit on the platform, along with a variety of other payment methods.
If you’re a seller on eBay, you can no longer direct your payouts to PayPal. Instead, you’ll need to link a bank account to your seller account to receive payouts.
eBay set a deadline of 2021 for the transition that they communicated to sellers. If you don’t want to see a disruption in your ability to manage your listings, you’ll need to update your account information and link it to a bank account for payouts.
But as a customer, you can still use PayPal on eBay. Buyers can pay with PayPal, credit and debit cards, gift cards, Apple Pay, Google Pay, and PayPal Credit.
You can no longer link your Paypal account to your eBay account, however, you can continue to use PayPal to pay for purchases.
Once you pay with PayPal, you can set it to remember your PayPal details for faster payment in the future. It’s an easy process if you follow these steps¹:
💡 Keep in mind, this process is for buyers only. Sellers can no longer connect their PayPal accounts. |
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Yes, eBay earnings will no longer go to PayPal accounts. So if you’re a seller, you’ll need a bank account to receive your payments.
The setup is a two-step process. First, you’ll need to verify your existing personal information in your eBay seller account. Then, you’ll link a bank account where payouts will initiate within 2 business days—Monday through Friday, excluding bank holidays—after eBay confirms the buyer's payment.²
Some sellers may not have an existing business account to link to eBay. Even if they do, their local account may not support international payments - or charge them high fees to receive them. This can be frustrating for ecommerce sellers with international customers and suppliers.
If you find yourself in this situation, linking a Wise Business account to your eBay account can be a great solution. Why?
Open a Wise Business account today
Read next: | |
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How to Connect Your Payoneer and eBay Accounts: 6 Simple Steps |
All sources checked March 2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
If you need to take control of your business finances, we've compiled 6 good reasons to sync up your accounting software so you can focus on growth.
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