MILLIONS of eBay users have been warned over new rules coming to the platform this month.

New rules from May 31 will see changes to its payment system and new restrictions on controversial listings. 

Expenses and fees deducted at the point of sale. Previously these charges have been deducted in a monthly billing statement.

The remaining balance will then be transferred directly to the seller’s bank account, rather than their PayPal account, meaning that sellers will be required to use a bank transfer to claim their earnings.

The changes mean that buyers will have more options to purchase items with, including; Google Pay, Apple Pay and PayPal.

More power to regulators

The Silicon Valley giant is also handing more power to regulators, due to issues with listings breaching consumer rights.

According to Ebay, regulators will be able to remove listings "where they have evidence of a risk to consumer safety".

Both the Office for Product Safety and Standards an internet regulator OfCom will be handed partial control of listings in the UK.

It is hoped that the move will speed up the removal of "illegal or unsafe items" after investigators found that electrical appliances and toys were among the items being sold in the UK without meeting safety standards.

Regulators will be handed "the ability to take down any listings from the marketplace themselves".

Ebay justified the move, saying that "eliminating the need for a second level of approval streamlines the process, making product removal more efficient and reducing the risk of harmful products being purchased”.

Online retailers must be legally recognised as retailers

In response to the news, Lesley Rudd, chief executive of Electrical Safety First, told The Mirror that online retailers should be legally recognised as retailers

She said: "our investigations have continuously found dangerous, unbranded electrical goods with obvious visual defects for sale to UK consumers. These products often lack some of the most basic safety features."

Murray Lambell, eBay's UK manager said: "Market places should be taking their responsibility for consumer safety seriously, but collaboration with authorities is vital," he said.

"We hope that other players in the industry will follow suit."