eBay scraps payment method used by millions from today - check your account now
The change will be implemented all over the world from today, due to 'unacceptably high fees'
Anyone who likes to browse eBay in search of second-hand bargains has been warned that a major payment method will no longer be accepted from today onwards.
As of Saturday August 17, the online auction platform will no longer be accepting American Express (Amex) cards as a form of direct payment.
If you previously used this to pay for your purchases, you'll need to switch to a different method. According to the site, Amex is being scrapped due to 'unacceptably high' fees that it charges.
The change will come into force all over the world, forcing shoppers to change how they pay.
In a statement, American Express said it was "disappointed" and criticised eBay for restricting the payment choices customers have when using the site.
They noted that in the US, the cost of acceptance for Amex is "comparable" to what eBay pays for similar cards on other networks.
A spokesperson said it was "disappointed" by eBay's decision and that it will "limit customers' payment choices", the Sun reports.
Amex processing fees can be as high as 4 percent, which is why many UK retailers - such as Greggs and Costco - do not accept them as forms of payment.
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Announcing the scrapping of Amex as a method of payment, a spokesperson for eBay said: "After careful consideration, eBay has decided to no longer accept American Express globally effective August 17 due to the unacceptably high fees American Express charges for processing credit card transactions."
However, if you do have an Amex card, you can still use your details to pay through PayPal instead - but be warned that you'll lose one of your consumer rights if you do this.
Under the Section 75 law, consumers can claim a full refund for faulty goods or services bought on their credit card from their card provider if the retailer won't compensate. But you'll lose this protection if you pay through Paypal.