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.
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.
"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."