Buyer protection fee : what exactly is this fee?

[bogush75]

I sent the parcel tracked and signed for. 

Postal service lost my item, I have to refund the buyer and claim off the postal service.

It doesn't cost ebay anything.

I take the hit and have to sort the claim.

Ebay charged my buyer "protection fee".

Can someone tell me please : What exactly did the buyer pay for ? 

[sebastian4ever]

It is so feeBay can rip off buyers and make more money,  whilst paying minimal taxes in the U.K.

[goldenwolfman]

Self explanatory ....it's a 'Protection Racket' fee, for eBay's profits, nothing more. Then YOU have to cough up for lost item with all the grief that goes with it!

I have been questioning its legality and its very title as mis- selling since it began. It needs regulators and someone to act - but Rome still burns lol.

[the-nutwood-collection]

eBay protects the buyer from having to resort to the small claims court to recover their money, because eBay forces the seller to refund within three days by taking the money from their held funds or bank account - irrespective of whether the buyer has a legitimate claim.

[alexis*27]

That is a separate contract between the buyer and eBay. The seller could of course just make a county court claim against the buyer.

[bogush75]

no, it does not.... ?

ebay keeps all the buyers money in ebay's account (until items confirmed "delivered")