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Sun July 26 2020 15:37:06

eBay Payments Requires Power of Attorney, Bank Login Info

By: Ina Steiner

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Some eBay sellers questioned why they were asked to agree to give a third-party company Paywithmybank a limited "Power of Attorney" when registering for eBay Managed Payments.

The issue came up on July 8 on a thread on the eBay seller discussion boards devoted to Payments.

A seller with the handle Surplustoolandsupply noticed when they registered for Managed Payments, they were required to accept the terms and conditions of Paywithmybank (a third party).

"Among those terms I would be agreeing to give them "limited power of attorney" and make them my "true and lawful attorney-in-fact and agent,"" the seller wrote, "and then it requires me to agree to give them my banking login ID and password (which would is ridiculous enough, but especially since I have a common login to about 8 different accounts)."

In a post about how to link a bank account to Managed Payments, an eBay moderator shared screenshots that show PayWithMyBank is offered as a facilitator when a seller's bank does not appear on the list of institutions offered during the registration process.

PayWithMyBank explains on its website it is "an online and mobile payment alternative to cards and checks that allows you to pay or get paid using the information you know by heart - your online banking ID and password. We establish a secure connection to your online banking account directly from the site you are on, without ever storing or sharing your information with the site. It's just between you and your bank."

While the request for limited power of attorney in PayWithMyBank's terms of service doesn't appear nefarious, it's understandable why some sellers who noticed the provision may be concerned. We searched the boards but could not find a response from eBay about what it could mean.

There was also concern expressed about how eBay would handle refunds, with one seller surmising eBay would reach into their bank account for the funds to refund a buyer. But another seller pointed to a post where an eBay moderator provided the following explanation:

"Refunds are pulled from funds in "Available for payout." If there's not enough to cover the cost of a refund, the refund will still go through, and we'll place a debit on your "Available for payout" funds until we recover the full amount. 

"This could cause your "available for payout" to become negative. If, after 21 days, we haven't recovered the full amount from your available for payout funds, the outstanding balance will be added to your invoice."

eBay has a board devoted to questions about Payments, but those who are already enrolled in the program can access a non-public board.

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Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: purpleiris This user has validated their user name.

Sun Jul 26 16:58:03 2020

Whaaaaaaaat? OMG! THEY DO NOT NEED A POA!!! They just want it so they have the power to screw you over. If they have a POA to pull funds from your bank account, they do not need permission to pull ANY funds from your account, not just returns.

"requires me to agree to give them my banking login ID and password"

THAT IS ABSOLUTELY RIDICULOUS AND ILLEGAL AND GOES AGAINST THE TERMS OF MANY BANKS, IF NOT ALL OF THEM! If you give out your login info, you are completely helpless in fighting against eBay when they wrongfully dip into your account.

Are you people seriously giving them this info? I sure hope not.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: purpleiris This user has validated their user name.

Sun Jul 26 17:18:05 2020

By the way, if you HAVE given them this info, I would be contacting your bank to tell them what they're requiring of you and you can get it from the horse's mouth that what I say is true. Also, I would instantly change your login info and keep an eye on when the last login time was (most provide that info).

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: purpleiris This user has validated their user name.

Sun Jul 26 17:28:02 2020

Honestly, folks, I don't care what line of carp they're giving you. ABSOLUTELY NO ONE SHOULD EVER BE GIVEN YOUR BANK LOGIN INFO AND NO ONE IS LEGALLY ALLOWED TO REQUIRE IT FOR ANY REASON!!! The mere fact that they are requesting it is nefarious in itself. NOT EVEN YOUR BANK ASKS YOU FOR THAT INFO!!

Anyone care to give your bank login info to the San Jose mafia? Why not just post it on the dark web yourself.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: purpleiris This user has validated their user name.

Sun Jul 26 17:46:19 2020

Just called my bank and got confirmation that it is, in fact, illegal for them to be requesting that info for any reason. Fortunately for me, my bank has a zero liability policy that protects me. Does your bank?

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: purpleiris This user has validated their user name.

Sun Jul 26 19:18:33 2020

Sorry, but this really caught me off guard. I had no idea they were asking for that info. WOW! I just wanted to share one last thought that just came to me. Please correct me if I read it wrong...

The moderator explained that no funds would be drawn from your bank account, only added to the invoice if you don't have sufficient funds in your payment account to cover returns. Do they automatically deduct the invoice? If so, then that mod just lied through their teeth (or fingers).

If not, then what is the purpose of the POA to begin with? If they don't need it to draw funds from your account, then what for? Where are the terms for this POA? Are they provided PRIOR to agreeing to it? Considering how this all rolled out, I can only assume they're not.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: OnlyPollyPocket This user has validated their user name.

Sun Jul 26 20:19:13 2020

I have been saying for years (since the HO took the reins) the I will roll with the punches and sell on ebay until such time as they make it impossible to roll with the punches.  

This will be that time if I am asked to give my bank login information and a POA when I am required to to get into Managed Payments.

There is no way I would give that information to this Mangled web site (or anyone for that matter!) especially with their history of data breaches.

The brass cajones of this outfit is stunning!!

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: pace306 This user has validated their user name.

Sun Jul 26 20:51:44 2020

1) why is PayWithMyBank offered as a facilitator - when Adyen is doing the processing?

2) eBay should NEVER ask for POA - would they give you POA over them?

3) All this is about grabbing sellers monies - its not about "processing credit cards"

4) Stripe never asked for either Bank passwords, neither did Paypal nor Amazon or Mercari - ebay is doing something fishy (AGAIN)

5) THIS is where the CA Attorney General needs to step in. SOME ONE PLEASE wake them from their Trump Derangement Syndrome coma and get them involved

6) I havent (yet) been asked for either (just an FYI disclaimer)

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: angryllama This user has validated their user name.

Sun Jul 26 23:40:19 2020

Does eBay have an EXECUTIVE in CHARGE or ''Shooting Themselves in the Foot just for Fun?''  
Even if this is 101 percent on the straight and narrow..... it is flat out insanity to be the LONE RANGER of on-line selling platforms.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: Moonwishes This user has validated their user name.
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Mon Jul 27 01:32:37 2020

I no longer sell on eBay. I've been hearing about this managed payments and shaking my head, now THIS! No way in the world would I give them a limited POA over me and my bank account, nor would my hubby. Currently, I have no reason to give my sons,that I trust with my money implicitly, a limited POA over my funds. For the most part POAs are for when you are not able or potentially not able to make financial decisions for yourself, such as when heading down the hall to the OR for a heart transplant and other fun activities. Certainly you aren't going to give it to some bogus bank to handle your funds for eBay? This doesn't even make sense to me, but then a lot of what eBay has been doing for the last few years doesn't make any sense to me!

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: Disgusted This user has validated their user name.

Mon Jul 27 02:02:48 2020

You have to be an idiot to give them this.  My daughter works in management at a large bank and just laughed when I asked about this.  The bank doesn't ask for this info.  I was told what you are doing is giving them permission to take any and all funds out of your account.   She asked if this was truly from ebay or just a scam email from some foreign hackers.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: Paul W This user has validated their user name.

Mon Jul 27 02:56:47 2020

My bank login info would give them access not only to the account where I would receive eBay funds, but also to the six other accounts I have there.  That is NOT going to happen,  I have one eBay store already in MP and that was not required, so they are changing things for the worst.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: Russ This user has validated their user name.

Mon Jul 27 07:01:22 2020

This is eerily similar to phishing emails that would arrive in my inbox regarding a ''security alert'' on my banking account...problem being I had no accounts/business with the supposed contacting banking institution.  The emails had plenty of hyperlinks to direct me to a problem-solving page.  Now ebay has phishing within their payment program sign-up....disgruntled former employee, perhaps...one that knows how to hack....

That's a ballzy move on eBay's part, if in fact it is true....Internet 101 from the beginning....never share passwords or other login info with ANYONE!  

Power-of-attorney will occur with just that....my attorney, only.  Not with a sinking, money grubbing entity such as eBay.  Like a previous poster mentioned, just post your info to the dark web yourself and skip the middleman!

Good luck to you all with managed payments....seems you'll need it.  Pandemic pilfering is rampant...stay safe!

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: FeelingFroggy This user has validated their user name.

Mon Jul 27 07:08:57 2020

When we signed up. Ebay asked for our checking account number and the routing number and that our name on our ebay account and the checking account matched. They asked for nothing else. We have a dedicated account that is swept each friday so rarely is their anything to steal. Not sure where everyone is getting their information from but sure seems like phishing. We get account locked phishing from paypal all the time.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: Geetar This user has validated their user name.

Mon Jul 27 08:29:03 2020

All of this is due to the using aden. because aden is overseas they (ebay) is beholden to anti money laundering US laws. And have to verify users.

They couldn't just find a company in the US? That would have avoided all of this, and you would have been able to just verify a small deposit, just like ALL others do.

They must have been the cheapest deal out there for ebay, seems like they're style. Everyone want to save a buck, but it comes to a point where it just isn't worth it.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: purpleiris This user has validated their user name.

Mon Jul 27 08:51:51 2020

Anti-money laundering laws or not, a POA and your bank login info are not how banks or anyone verifies you. You may have security questions to answer from time to time, but not even that info should be given out.

The purpose of a POA is to give them permission to act on your behalf in the case of your absence, an illness, other incapacitation or death. Does that sound like something anyone would give to an outsider?

Your bank login is your own. Not even your bank knows it. I know I banked at a small bank once that claimed if you gave out your login info, then you would be liable for any charges to your account resulting from it. So, it would certainly be in their TOU that you are to keep that private.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: purpleiris This user has validated their user name.

Mon Jul 27 09:07:50 2020

Just as an example, I found this on Commerce Bank's site under Online Banking Terms & Conditions:

Your Password(s). Your customer ID/username and your password (collectively “the Password”) are for your use and protection. You agree to: (a) not disclose the Password, or other means to access the Service or your Accounts, or otherwise make it available to anyone else; ... and (d) be liable for the Password and for its authorized use and for its unauthorized use as described in this Agreement. ... You are responsible for all Transactions you initiate or authorize using the Service. IF YOU PERMIT ANY OTHER PERSON to use the Service or your Password or other means to access your account, you will have authorized that person to access your Accounts and you are solely responsible for any Transactions that person initiates or authorizes from your Accounts.

Source: https://www.commercebank.com/personal/online-features/online-banking-t
erms-and-conditions

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: wellspring This user has validated their user name.

Mon Jul 27 09:12:59 2020

If you were asked to give your user name and password to your back account when registering, change your password immediately.  

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: acc756 This user has validated their user name.

Mon Jul 27 10:23:19 2020

Geetar -  There may be some pretty hefty financial incentives involved for eBay. Not just the money they will make on the fees etc, but possibly even a % stake in Adyen. https://reut.rs/32Zzoao

If you look into Adyen a bit, and see all of the many companies they process payments for, you can get at least an idea of how much even a small stake could be worth to eBay.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

by: Geetar This user has validated their user name.

Mon Jul 27 11:40:47 2020

IDK, if they dont bother me for any more info good. But I'm not really willing to give any more.

Giving out bank info isnt a big deal...account number ...name..all that stuff. Some of you on here realize because when you order large factory orders...you dont pay by check, or credit card. You pay by bank wire transfer.

But, allowing ebay to dual login with you is not good, not that ebay would steal money from you that way (they have other ways to steal from you). It's that it puts your info in a compromising position. And this other...limited power of attorney is just flat out ridiculous. Why dont I just put ebay's name on my deed to my house?

Now, a lot on ebay is just starting to get ridiculous. The sales tax bit, with them playing hide and seek on the reports was just ridiculous last year. I am curious to see what the reports are going to look like after I am in managed payments. If there are tons of variances, I am out. I just cant keep coming up with a system to compensate for their lack of proper book keeping every time they change something (witch is often). And with paypal gone it will be hard to reconcile everything. They want to nickle and dime and fee, fee, fee. At least have proper reports so I have time to make that fee money up, instead of having to put a magnifiying glass to the payments and fee's. You know, we have to pay taxes, and we have to know what ebay is getting paid, and whats going to sales tax.

Perminate Link for eBay Payments Requires Power of Attorney, Bank Login Info   eBay Payments Requires Power of Attorney, Bank Login Info

This user has validated their user name. by: Marie

Mon Jul 27 12:28:26 2020

I can completely understand why this could cause people concern and rightfully so.  We all need to be always vigilant to protect our financial information.

This is something that is not required and there are other ways to verify the information with Ebay.  This is just one way you can do it.  If someone chooses to use this method then I would recommend, just for security and sanity, change your password on your bank access when you are done.  Then there should be no concerns.

Paywithmybank is NOT the same thing as Adyen.  I have no idea why Ebay chose to use them, but they are two separate entities.  It is likely they used a different company so that Adyen didn't have passwords either, but that is just a guess on my part.

This is really quite simple and does not have to cause concern.  If you are uncomfortable with using this method to confirm, then don't.  There are other ways.  If you do decide to use it, then just change your passwords when you are done.

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