April 23, 2024

Ebay sellers are complaining about high direct debit fees

Ebay sellers are complaining about high direct debit fees

Anyone selling things on Ebay often and regularly should switch the payment method from direct debit to credit card as soon as possible to save fees. The auction platform continues to collect sales commissions from the UK. Since January 1, Great Britain is no longer a member of the European Union (EU) and therefore no longer belongs to the Ciba region. The result: Depending on the bank or savings bank, there are hefty direct debit fees.

Costs not shown

The crux of the matter: These fees aren’t usually found on most bank websites. There are only direct debit fees within the Sepa region listed there once incurred. This depends on the account model you choose. These expenses will not be shown until the end of March with the account statement for a period of three months.

Then there may be a rude awakening for many consumers. While Deutsche Bank and Postbank do not charge any additional fees, many savings banks do not. However, the Kreissparkasse Köln takes 13 euros, the highest amount per direct debit from Great Britain we’ve found so far. The neighboring Sparkasse Köln-Bonn takes at least five euros.

It is not clear whether Ebay will process direct debits from an EU country in the future in order to avoid these costs. As a precaution, every active seller must switch the method of payment to a credit card. But this isn’t free either. Because the fees then arise in the form of currency conversion fees. At rates between 1.5 and 3 percent of sales, this should be less than most direct debit fees. At least if the sales proceeds do not exceed 100 euros. We have asked many banks and savings banks about their fees and we will continue to add them to this article.

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