MP gives eBay the ability to run your credit

[degsey69]

Hello Fellow Stealthers

Ebay can now do a soft credit check on you when you register for Managed Payments and will use that to set the selling limits and instigate a MC011 if your score is lower that they would like. They can then check to see if you have the stock to cover your sales by invoices, bank statements and credit card statements. They will then reinstate you with a message that you are doing a good job and to protect the eBay customers they are going to reduce your limits for 2 months before you can request a limit increase which you may or may not get. During this time they will also hold your funds until delivered.

I strongly suggest that you lock your credit reports with all 3 credit reporting agencies and block soft credit pulls so eBay will know nothing about you when you convert over to MP.

This is not fantasy, it is fact. MP is the worst thing to happen to eBay sellers, a glaring one is returns funds are now with held when a return is opened for top rated sellers, when before they were not held in PayPal.

How many millions of dollars is eBay holding, not in a trust fund where they have to account for it, in all your accounts where they can do what they like with it before they return it to you.

These ecommerce companies need a special council appointed to investigate their practices and be heavily regulated.

Merry Christmas

[HurricaneHuntr]

Originally Posted by degsey69

Hello Fellow Stealthers

Ebay can now do a soft credit check on you when you register for Managed Payments and will use that to set the selling limits and instigate a MC011 if your score is lower that they would like. They can then check to see if you have the stock to cover your sales by invoices, bank statements and credit card statements. They will then reinstate you with a message that you are doing a good job and to protect the eBay customers they are going to reduce your limits for 2 months before you can request a limit increase which you may or may not get. During this time they will also hold your funds until delivered.

I strongly suggest that you lock your credit reports with all 3 credit reporting agencies and block soft credit pulls so eBay will know nothing about you when you convert over to MP.

This is not fantasy, it is fact. MP is the worst thing to happen to eBay sellers, a glaring one is returns funds are now with held when a return is opened for top rated sellers, when before they were not held in PayPal.

How many millions of dollars is eBay holding, not in a trust fund where they have to account for it, in all your accounts where they can do what they like with it before they return it to you.

These ecommerce companies need a special council appointed to investigate their practices and be heavily regulated.

Merry Christmas

Not sure on the credit stuff.

But i agree, congress needs to start doing something to protect consumers info.

[slokor]

Sounds more like speculation than fact to me.
Anyone who has the SSN info can run a credit check. Whether or not they actually do is an entirely different matter and doing so without permission can be cause for a massive class action lawsuit against them. I somehow don't think they'll take such a chance. But that's just how I see it.

[james_112233]

They are sick of people scamming them. Abandoning accounts with fees unpaid. Fairly sure over time they will have their own version of funds now that PayPal offers etc

[TheBosss]

OP is correct, they do do a soft credit check. Thankfully I have not had to convert over yet, but I am dreading on the day.

[walkingupwards]

Imagine you rented a shop at a mall and the owner of that mall came by your shop one day and found out something he doesn't like, he won't be able to bring a couple security guards and kick your ass out of there. He will have to terminate your contract first and you can fight that in court I guess. The same standards must apply to online platforms such as eBay or Amazon.


Some people spend their lives building a business and they get banned with a mouse-click!! No they are not a private company anymore and lives could literally be destroyed because of their behavior. They must adhere to the same standards that the real world adheres to!!!

[degsey69]

Originally Posted by slokor

Sounds more like speculation than fact to me.
Anyone who has the SSN info can run a credit check. Whether or not they actually do is an entirely different matter and doing so without permission can be cause for a massive class action lawsuit against them. I somehow don't think they'll take such a chance. But that's just how I see it.

So you do not get unsolicited mail with pre approved offers for car finance and credit cards, they can all legally do a soft credit check and so do eBay. Unless you put a stop on your credit checks with the credit bureaus anybody with your SSN can see your credit score but not the details.

[degsey69]

As far as I am concerned eBay, PayPal, Etsy, walmart should be controlled by The Federal Reserve and the huge customer funds should be protected by FDIC.

I was thinking the other day that if Amazon filed bankruptcy hundreds of thousands if not into millions of companies and individuals will be go bankrupt and there is no Federal protection for our money held by them. The government made Bill Gates split up Microsoft so should they now do that to Jeff Bezos before he gets bigger.

[rsot]

Originally Posted by degsey69

As far as I am concerned eBay, PayPal, Etsy, walmart should be controlled by The Federal Reserve and the huge customer funds should be protected by FDIC.

I was thinking the other day that if Amazon filed bankruptcy hundreds of thousands if not into millions of companies and individuals will be go bankrupt and there is no Federal protection for our money held by them. The government made Bill Gates split up Microsoft so should they now do that to Jeff Bezos before he gets bigger.

Unlikely to happen though

[degsey69]

Under the new Biden administration the break up of Amazon is more likely to happen as the far left want it broken up, the liberals not so much, depends on who Bezos contributed to during the election.

[assad]

If this is actually the case how are people successfully coverting to MP using mismatched names ??

[DENDEN76]

I'm from south Africa do you think they are able to apply soft credit checks on my info? Some people have successfully converted with xxxx

[Camaro2SS]

If true it will eventually backfire. eBay is going to be investigated by Congress like google and a amazon.

[Camaro2SS]

What about soft check in Canada? Does it apply to every country eBay is serving? What about some of the Asian countries?

[agent006140]

if AMZN files for bankrutcy,third party sellers would file as creditors and be in line for any refund.
THere is a pecking order of who gets the money first

[agent006140]

does Ebay really NOt withhold fund of Top rated sellers when their buyers open a case?
I know Paypal has Paypal fund now ,but not aware of Ebay having a similar feature,as there are so many top rated sellers on Ebay now.

[Steveo036940]

Originally Posted by ErkDaddy

OP is correct, they do do a soft credit check. Thankfully I have not had to convert over yet, but I am dreading on the day.

Wrong...
Ebay does not perform a credit check. I have converted accounts to MP and no inquiry of my credit was made to any credit bureau.
They do an identity check on everyone converting though. Your SSN and DOB must match your real name provided. This has nothing to do with credit worthiness and it doesn't matter what credit score you have as neither Ebay or Adyen is extending credit to you.
Bottom Line:
Credit check NO
Identity check YES
Hope this clears up the misinformation out there who don't know what they are talking about.

[degsey69]

You do not know if they do a soft check you only see hard checks on your credit bu report.

Yes they do it I have proof and the way to stop all checks unless authorized is to put a hold on all checks of your credit with each bureau.

[degsey69]

Originally Posted by agent006140

if AMZN files for bankrutcy,third party sellers would file as creditors and be in line for any refund.
THere is a pecking order of who gets the money first

Yes number one is attorneys then the IRS and then secured creditors, where will you be at in the end about 2 cents on the dollar and a long wait for released funds

[degsey69]

Originally Posted by assad

If this is actually the case how are people successfully coverting to MP using mismatched names ??

I can only quote USA experience and here you need a SSN number which they can check oh and also pull a soft credit check at the same time. So here you can not change over on mismatched names.

[degsey69]

Originally Posted by Steveo036940

Wrong...
Ebay does not perform a credit check. I have converted accounts to MP and no inquiry of my credit was made to any credit bureau.
They do an identity check on everyone converting though. Your SSN and DOB must match your real name provided. This has nothing to do with credit worthiness and it doesn't matter what credit score you have as neither Ebay or Adyen is extending credit to you.
Bottom Line:
Credit check NO
Identity check YES
Hope this clears up the misinformation out there who don't know what they are talking about.

The only person who is spreading misinformation is you, how do they pull your id check, through the credit bureau to see if name and SSN match, do you see that on your credit report, no and nor do you see if they soft check you.

[degsey69]

Originally Posted by Camaro2SS

If true it will eventually backfire. eBay is going to be investigated by Congress like google and a amazon.

No they are doing nothing wrong when you give your SSN over they can soft check credit, why do you think insurance companies want your SSN in USA, for homeowners and car insurance policies they soft check your credit, there is never a hard pull, that is why bad credit scores get bad rates.