eBay to make massive change to fees next month for millions of customers
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EBay has announced a huge change to its payments that will affect millions of its users from next month. The online marketplace is changing its Buyer Protection which will affect both buyers and sellers from February 4. From next month a fee will be included in the item price when buying from a private seller.
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This means there will be no additional costs or fees at the checkout. Meanwhile, for items from business sellers, shoppers will get the buyer protection benefits at no extra cost. The fee will bring eBay in line with competitors Vinted and Depop, who have both ditched seller fees in favour of buyer ones in the past few years.
Buyers will pay up to 4% of the item price, plus an extra 75p. For example, if they see an item listed for £20 the fee of £1.49 will already be part of the price. The fee will be lower on higher-priced items of more than £300 and there will be a cap on the total amount they will pay.
This means that buyers who are purchasing lower-value items may end up paying a higher percentage of the item’s total cost in fees than those who make bigger purchases. The news comes after eBay removed its “regulatory operating fees” for private UK sellers last October, just six months after introducing them in April.
Ebay said the buyer protection will give shoppers on the website “more confidence and security”. COMMENTS by Consumer Editor, Alice Grahns:. It’s easy to check if items in your attic are valuable. As a first step, go on eBay to check what other similar pieces, if not the same, have sold for recently.
