Payouts update alert?

[treasuretrove952]

I have not had any trouble with using direct deposit into my paypal account until today.

I signed in on eBay today and there is a message in red "Your payouts are on hold until you update your bank account. Please update by Oct 16, 2020 to avoid further restrictions  Update bank information " When I click to update I get this message ... 

"Update your bank details

We can’t verify the info you provided, please review.

We recommend linking your accounts via bank sign-in, so we can quickly verify this is a valid account. To do this, click on Change bank.

• Otherwise, you could verify your bank account by uploading a bank document instead. The names on eBay and the bank document need to match."

All my deposits were going into my PayPal account with no trouble. My question is, is there a glitch and this message will go away or are there any documents I can upload to eBay so I can still have my deposits go into my PayPal or do I need to just deposit into my bank & transfer funds to PayPal? UGH all these extra steps

Thanks in advance

[mcdougle4248]

@treasuretrove952 

With Managed Payments your payouts from your sales MUST go to a bank checking account, there is no option to use PayPal for your payouts.  I would recommend you follow the instructions provided by eBay to have your bank account verified so that your payouts to your bank account can occur.

[treasuretrove952]

Thanks for the reply. PayPal does have a direct deposit option with a routing number and account number & you enter it as checking. All my payouts have been going through just fine. It's just strange... I've had no trouble for about a month now

[mam98031]

It may be that the MP system missed that you were attaching a PP account to MP somehow but now they caught it.  I don't know how else to explain that one.  But @mcdougle4248 is correct.  MP has said they do not allow PP to be attached to your MP account.  The reason for that is that PP is not a bank.

Now these cash accounts that PP offers, I believe are through Wells Fargo, I could be wrong on the bank, which is why you have a routing number.  

Maybe MP and PP will clear this up for the future, but I'd do as the error message tells you so that you can get your funds.  Trying to argue the point with MP isn't going to get your money any faster, you won't win and you will just be further delaying the receipt of your money.  So make the appropriate changes and then as a separate issue try convincing MP to change their rules.  A much better way to go about this unless you don't mind if your money is held up.

[treasuretrove952]

I have switched it to my bank account but now my money is taking even longer to be available UGH!!! It was working just fine with the direct deposit with PayPal. my money was always available the next business day no problems. I really hope something changes and we can have the option to have our money go where we want but I wont hold my breath

Thanks for all the help

[Anonymous]

Mine have been on hold for almost 3 weeks.. they keep saying my birthdate seems weird but everything is okay.. Yet they can not get if fixed.. money just sitting there  .. I hope

[treasuretrove952]

That's strange about your birth date and its been 3 weeks.... what?! Hope this gets fixed for you soon

[treasuretrove952]

Just 1 more thought. How come eBay is fine with PayPal as an automatic payment method for my store subscription & other fees but I can not use PayPal's direct deposit as my way of getting MY money, even though I have a routing number, account number & PP has the financial institution as Wells Fargo Bank, N.A. I'm just really annoyed because everything was going so smooth and my money was available right away when I had PP direct deposit set up and now that I can not I have to wait almost a week for my funds to be available - that's probably my bank but that's why I should be able to choose where I want MY money to go.

Sorry now I'm venting

[muskingum_relics]

You have the right to vent ! Ebay should have left well enough alone but they had to dip their hands in the cookie jar !! PP was easy and fast with no fuss no muss !!

[glasser]

The back end payments system eBay is using does not recognize PayPal as a bank. They don't even recognize brokerage accounts that actually have checking accounts attached as a bank. 

Many people have had to open new accounts--I will be one--if they want to continue with eBay. Many people use PP, and you may be one, as how they segregate their ebay business from personal finances.

Not a good system on eBay's part.

[donsdetour]

---

@treasuretrove952 wrote:

Just 1 more thought. How come eBay is fine with PayPal as an automatic payment method for my store subscription & other fees but I can not use PayPal's direct deposit as my way of getting MY money, even though I have a routing number, account number & PP has the financial institution as Wells Fargo Bank, N.A. I'm just really annoyed because everything was going so smooth and my money was available right away when I had PP direct deposit set up and now that I can not I have to wait almost a week for my funds to be available - that's probably my bank but that's why I should be able to choose where I want MY money to go.

Sorry now I'm venting

---

This new system involves international banking laws as well as the US laws.

PayPal is not a BANK and that is the problem.

[evshop.nyc]

Thank you Glasser, you are right. They are not recognizing brokerage accounts or in fact any investment banks. I use Fidelity Investments. Can't get bigger than that.

I compromised on providing my SS, Bank info, even a voided check showing the correct routing and account numbers. It's still not enough for eBay.

I have no issues closing my eBay accounts if it comes to that as I am not willing to open extra checking accounts just to pacify eBay's tantrums.  Does anyone know if eBay sends checks if they are unable to verify these banks? I assume so... Otherwise, I can only image the amount of lawsuits they will receive.

[rgrail]

I have been stonewalled since 11/23...the level of arrogance is appalling.  I have just bounced four utility payments this morning.  I currently have a negative balance in my checking account and I am borrowing cash from my brother to deposit so I don't get hit with those bank overdraft fees.  

Customer service line is "down temporarily"...this would have been my third call in three days.  What's really frustrating is the call center guys both tried to blame my bank but I have a good working relationship with my banker and he took my call right away, confirming that there were no failed deposits from eBay in the last ten days.  I'm waiting for over $4k in sales because I got a big purchase a week before Thanksgiving.  But eBay dinged me for its' monthly fees last night, sending me into the negative zone. 

[evshop.nyc]

I am VERY sorry to hear that. Especially during these types. Like we don't need the extra stress and frustration. 

For anyone interested, I just got off the phone with eBay and it is official. They are not accepting ALL forms of checking accounts. They don't even have a list or a backup plan but for now all I know is that Fidelity Investments being a brokerage bank is not accepted. So I am kinda being forced to close my accounts on eBay all together as opening an extra checking account specific for eBay needs makes no business sense to me. I am sure sellers and eventually buyers will be looking at other places when they can't find their items on eBay.

They also tried to blame me for their shortcomings but when I brought up similar marketplaces such as Facebook Marketplace and Amazon having the same payment structure and having no issues with the type of checking account I have, they had nothing to say. 

Completely unprepared. That's why their lines are saturated with calls because many people are having the same issues and eBay is not being transparent about it. It should be as simple as make a list of accepted checking accounts and sending balances to PayPal for those who opt to close their accounts like me. They said they will send my last payout to PayPal before closing my account since they don't accept my checking account. I am waiting on that.

I'll keep everybody updated.

[evshop.nyc]

I am VERY sorry to hear that. Especially during these types. Like we don't need the extra stress and frustration. 

For anyone interested, I just got off the phone with eBay and it is official. They are not accepting ALL forms of checking accounts. They don't even have a list or a backup plan but for now all I know is that Fidelity Investments being a brokerage bank is not accepted. So I am kinda being forced to close my accounts on eBay all together as opening an extra checking account specific for eBay needs makes no business sense to me. I am sure sellers and eventually buyers will be looking at other places when they can't find their items on eBay.

They also tried to blame me for their shortcomings but when I brought up similar marketplaces having the same payment structure and having no issues with the type of checking account I have, they had nothing to say. 

Completely unprepared. That's why their lines are saturated with calls because many people are having the same issues and eBay is not being transparent about it. It should be as simple as make a list of accepted checking accounts and sending balances to PayPal for those who opt to close their accounts like me. They said they will send my last payout to PayPal before closing my account since they don't accept my checking account. I am waiting on that.

I'll keep everybody updated.