Mrs_Smith is correct; it has to do with the possibility of returns outnumbering your sales. If that's the only thing holding you back, I wouldn't worry about it. B/N is a reputable company; I've been selling with them for over a year and have never had any problems.
In addition to what the two previous folks said, it should be obvious.
If you want to buy something extra, a service, whatever, they have to have a place to bill you.
If you want to get paid for your book they obviously must have a place to send your royalties. Royalties get paid for free to a direct deposit checking account, while they get something like an $8 charge for writing you a check.
They are required by law to have your social security number so your royalties can be sent to the IRS, also....
It's just common business practices.
I haven't yet tried selling thru B&N but have been looking over the forum to get some idea of others experiences. What I'm curious about regarding CC's and bank account information is the comment that B&N wants a CC in the event returns are higher than sales.
Aren't we talking about eBooks on PubIt...generally considered non-returnable due to the nature of the product? I dodn't think you can return music files or other digital goods for the same obvious reasons. A customer can always download again from their online account, or be sent a replacement if there was a damaged file, but I thought there was typically a no-returns policy on eBooks?
Does B&N actually give a refund on a digital book? What reasons? Considering that a book can be read in-store and perhaps chapters read other places online, it isn't unreasonable unless there were some very dire or extenuating circumstances.
Thank you everyone for the help and clearing up the confusion; I understood the bank account to a point and I knew about them asking for SS but seriously on the credit card? It's all to ensure they get their money back if refunds are made? Sorry Barnes & Nobles Pubit! isn't going to work out for me. Thank you again everyone for the help.