Hi all,
I bought a electric scooter a while ago using Ebay gift cards of $550, but due to mechanical issues I returned it and the seller refunded those back to me and they are sitting in my account which i don't have any use. Any way that i can convert to cash?? If so please advise.
Thanks,
Anvesh.
Unable to change it to classifieds, please help
Unfortunately they are now tied to your account and can only be used by you for eBay purchases.
The gift cards become tied to the eBay account if used in a purchase.
coles / woolies gift cards then buy groceries with them?
You can't use eBay gift cards to buy other gift cards.
yes you can, the physical cards from some private sellers who do not want them
I'm not on the exact details but purchases might be blocked for the gift cards category.
If so only sellers who have incorrectly listed it in the wrong category will work.
Once its in your account I don’t think it can be transferred. The gift card balance are tied onto your account
Once you have 'used' the gift cards, they are forever bound to your account and cannot be transferred out to another person's account.
So you (unfortunately) will have to spend on eBay to get rid of it.
Change email and sell the account.
Get a friend to list an item, when ebay has a free listing offer. Buy the item with the gift cards. Stack it with a 10% off site-wide offer if possible.
Note that the 10% site-wide t&c typically prohbit collusion with the seller, so you might get banned if ebay figures out what you're doing.
That could explain why the recent PLOT10 code works on 'eligible' items and isn't as 'sitewide' as it used to be. guess it had to do with the amount of money ebay lost due to this exploit.
The old site-wide offers use to exclude gift-cards, coins/currency, tickets, etc.
The latest PLOT10 code is pretty non-specific about inclusions/exclusions, but I doubt they've changed significantly. I'm guessing it'll work for for the OPs purpose.
The T&C for PLOT10 mention this: "buyers or sellers have engaged in collusive conduct or any other conduct which eBay considers unfair, fraudulent or untoward"
Thanks Salmon, this sounds a good idea to get this done…will try when there is a listing free.
this sounds a good idea
Anxiously awaiting the next thread "My ebay account got cancelled. What should I do?"
I assume your friend will receive the funds by PayPal therefore you'll be paying 2.9% plus 30c transaction fee to receive the funds
Legally you would have to report it in your ATO income statement as well, eBay automatically hand over seller sale figures to the ATO annually.
Yes - but you're still ahead 7%, when you've used the free listing offer + 10% off sitewide.
@salmon123: If there's no restrictions, but if his a new seller PayPal will hold those funds for 21 days as well..
Not a bad strategy as long as you don't link IP addresses. Don't sit together over your WiFi and do it, do it from different households
Legally you would have to report it in your ATO income statement as well, eBay automatically hand over seller sale figures to the ATO annually.
eBay only report accounts with sales over 15k or something to the ATO. You only have to report the profits, which would be 7%. I doubt a single transaction for a couple of bucks profit it going to put you in the crosshairs of the ATO. Crosshairs of eBay is a different story.
If there's no restrictions, but if his a new seller PayPal will hold those funds for 21 days as well..
Yeah - hence getting a 'friend' to list it, rather than setting up a new account.
@Xiaomi: I only consider the 7% profit.
The full amount of the transaction would certainly not be the profit.
@salmon123: You can consider whatever you want, the 'seller' isn't suppose to have links to the buyer, therefore the full amount will be seen as profit as there is no deductions.
There will have to be an item for sale, one that is obviously made-up with no exchange of goods. Therefore, accounts receivable minus zero expenses = $X Profit
You can consider whatever you want, the 'seller' isn't suppose to have links to the buyer … There will have to be an item for sale, one that is obviously made-up with no exchange of goods
Yeah - if you want to do that, then you're as stupid as your post makes you sound. Don't waste your time try to cash out the ebay cards, as your pay tax at your marginal rate.
@salmon123: I knew you'd come around to understand the basics of tax. Well done Salmon123, well done.
East peasy
Just withdraw the funds back into your bank account.
How is it possible??
Classifieds