The daughter of a friend has an Ebay account. Yes I know, but she was selling a few of grandads unwanted treasures. As a student she works part time and is saving for an o/s trip.

In Ebay's payment process there is the option for direct debit payments either as a one off, or on a continuing basis. Well, even fools know that to give Ebay continued access to your account under their terms and conditions could be financial suicide, and she knows better.

She chose a one off direct payment to settle her fees because she managed her earnings from her part time job and wanted any payment to come out when there was actually money in the account.

It was specifically a one-off payment.

Nevertheless the next time her account was due Ebay immediately tried to deduct the fees from her account - without any permission to do so!

Of course there was no money in the account because she had opened an ING account to save money without instant access to it and transferred the funds to that.

Consequently Ebay suspended her account. All without her permission or knowledge.

Even if she transferred money into the debit account she could no longer make a payment, because she had 'defaulted' on the direct debit account that Ebay had tried to withdraw from without her permission.

The only option remaining was a postal payment.

Needless to say she sent them a cheque and started trading from another auction site.

She is still a member of Ebay, but would sooner shoot herself in the foot than help Ebay shoot themselves in the foot again and won't be going near that site if it was the only one on the net. It is out of her hands anyway, because despite the payment her account still shows her suspended for non-paymenyt of fees.

You have to ask yourself how many other supposed member 'accounts' are in a similar state?

How many Ebay accounts are duplicates?

How many users ( apart from Chinese fake goods sellers) are there. Real users?

I suspect the answer will not please shareholders.

I suspect it would be wise to become a non-shareholder if you happen to be holding any of their junk bonds. It may be worth an ask at their next GM but I'd sell first because I don't think the market is going to like the answer.