Ebay Does Not Accept My Bank
I am a first time Ebay user and will never use the platform again.
I use Bank of America, one of the largest banks in the world, and when I attempt to add my bank account I receive the error "your bank is not supported". Ebay support says my only option is to open another bank account and use it to withdraw my funds. Opening new bank accounts costs money, can affect your credit score, and can cost more money to close the account. Ebay support was unable to offer my any alternative other than open a new account. Furthermore, Ebay support was unable to provide me with a list of bank account that are accepted. I asked Ebay to waive my seller fees since they are forcing me to spend more money to open an account but that was denied. Ebay is a relic of the internet and I blame myself for trying to use such an outdated platform.
redmodelt
·3 years agoAfter reading a number of posts about BoA, some work for Managed Pay, some don't. Has something to do with if they are BoA investment center or just a regular bank BoA. Could also be if you have a business account and are trying to add to managed pay as a non-business.
You would not need to close your BoA account anyway and the only cost MIGHT be if you need to have $X to open a new account. Defaulting on any payments will affect your credit score, not having more than one bank account or closing one account and opening a new one.
luckythewinner
·3 years agoOpening new bank accounts costs money, can affect your credit score, and can cost more money to close the account.
That has never been the case for me. I opened one online in 15 minutes and it cost me nothing and did not affect my credit score.
Ebay support was unable to offer my any alternative other than open a new account.
WHat were you expecting? eBay support doe snot have the power to overrule Managed Payments and make your bank account magically work.
Is your account in your same exact name and address as your eBay account? Are you sure the account is not a debit card account, credit card account, or some other "hybrid" account that is not a true checking account?
sunv1542
·3 years agoNo, Bank of America is supported. You should be able to add your account manually. Look for where it says my bank is not listed and select that. You will then enter the bank name, routing number, and checking account number.
tdrake
·3 years agoOpening new bank accounts costs money, can affect your credit score, and can cost more money to close the account.
Free online accounts are available from many major banks and financial institutions. Free to open, free to close. When I opted in with Managed Payments I wanted a dedicated account. On a friend's recommendation I went online to a particular one, took me just a few minutes to join (for free) ebay accepted it no problems. I then connected it to my regular account and to PayPal so I can move money between them at will. My payouts are usually cleared in 24 hours or less. Usually if I check the next morning after payout day it's already there.
Please, how does having more than one bank account effect you credit score? Not like you have a line of credit. It's YOUR money in there. ????
krazzykats
·3 years agoI've used Chime bank since I opted into Managed Payments and have not had a single issue.
Probably been with them for 2+ years now. I have free checking and savings with ebay autopay.
wastingtime101
·3 years agoBoA is not the only bank affected @knuck_2078. If you are a resident of the state of Georgia I suggest checking out this discussion:
https://community.ebay.com/t5/Share-eBay-Technical-Issues/We-do-not-support-this-bank-Please-add-a-different-bank-account/m-p/33507615#M107892
Read posts 12 through 27.
femmefan1946
·3 years agoWe had problems with an account that was working fine for two of our accounts.
The account was specifically for online sales and had been opened with an online bank that is a division of one of Canada's largest and oldest.
After a struggle, we changed to another bank and one with branches, not online.
I don't like it (the online bank sends paper balance sheets and the B&M bank doesn't), but it worked.
Opening the online account was free, but that may be a Canadian thing.
It's been our habit to keep our monies in various banks- household checking, personal savings, personal checking, etc.
mtgraves7984
·3 years agoI've heard of the snafu with BOA, and don't know when it started (or who it affects), but I opted into MP when it first began with my (decades old) BOA personal account. I've never had trouble with deposits at all.
Some have had luck by skipping BOA on the list of banks and scrolling all the way to the bottom of the list, then selecting 'My bank is not listed' (or whatever the verbiage), then manually entering the BOA name, routing and checking account numbers.
I don't know if that'll work for you, but it might be worth a shot. Good luck to you.
gemarakop_trading
·3 years agoIt does not cost money’s to open an account if it does switch banks
toomuchstuffagain35
·3 years ago@knuck_2078 Are you in Georgia by any chance?
That seems to be a state they have issues with using BoA it appears.
itsjustasprain
·3 years agoThat has not been my experience - and it only makes sense to use a separate account for Ebay sales anyway. That way if things go sideways your personal funds are not affected. In my selling account I use a credit union and there are no fees of any kind. You might want to shop around a bit more.