A new way to verify your bank account for managed payments

[sheila@ebay]

Sellers,

We’ve made it easier for you to register for managed payments by introducing a new method to safely verify your bank account using microdeposits.  

With this new method, eBay will make two microdeposits in unique amounts to your bank account to verify that we have the correct bank account information for you. The microdeposits will usually post to your bank account within 1-3 business days. 

To identify the microdeposits, look for 2 small microdeposits in your account transaction history. Once you receive the deposits, you may return to eBay’s registration site to enter the amounts you received. Once verified, you will receive an email confirming your account. We’ll withdraw the amount of the microdeposits from your bank account typically within 3 business days.

If the amounts you enter do not match eBay’s records, you must verify your account using an alternative verification method.

In addition to microdeposits, you may also link your account directly to your seller account using eBay’s bank log-in feature. 

We’re excited to be offering a simpler way for Sellers to verify their bank account for managed payments.

As always, thank you for selling on eBay.

[rebell45]

Thanks, I remember that's the method PayPal used to verify my bank account way back in the day.

[mishawakadealmaker]

I registered a couple days ago and they could not verify my account. Will the deposits be automatically made or do I need to do something else?

[1grandmashope_1]

Yep, that was how it was done when I  was selling 13 14 years ago.

[mtgraves7984]

I've always wondered why this 'tried and true' method hasn't always been available. I'm just sayin'...

[ittybitnot]

Thanks, I remember that's the method PayPal used to verify my bank account way back in the day.

Yes.  In the beginning the Pal used to let you keep the eight or eleven cents they deposited.  Then they changed it up a bit went to taking those deposits back.  I surmised at the time it was to make sure they could EXTRACT funds as well if need be. 

[comics-scifi-collectibles]

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@mishawakadealmaker wrote:

I registered a couple days ago and they could not verify my account. Will the deposits be automatically made or do I need to do something else?

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If you are still having problems make sure that your name is EXACTLY the same on your ebay and checking account.  If you have a middle name on your checking then just add it on ebay in the first name box.  I know that this caused problems for many.

@@mishawakadealmaker

[redmodelt]

🙂 I have not been tapped to join MP but went ahead and linked my checking to my eBay account for paying fees about a month ago. I did have the .01 cent deposit to that account so should be linked now. Will see how that goes when the time comes. 

[readabouthorses]

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@ittybitnot wrote:

Thanks, I remember that's the method PayPal used to verify my bank account way back in the day.

Yes.  In the beginning the Pal used to let you keep the eight or eleven cents they deposited.  Then they changed it up a bit went to taking those deposits back.  I surmised at the time it was to make sure they could EXTRACT funds as well if need be. 

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When I joined PayPal they didn't even use that method. They sent a letter to your physical address with a code. Since I did not get mail at a physical address I couldn't get the letter (PO Boxes didn't count). I had to get the PayPal rep who hung out on the boards (Damon) to help me get my PayPal account set up. He was the one who suggested I use a savings account rather than my checking account.

Doing these deposits sounds like an excellent way to get MP set up quickly and hopefully doing it this way will get rid of all the confusion that seems to go on. I do wonder ... was Billpoint this complicated to use?

[mike2731]

Where is this option? I only see an option to verify via sign in (which never works), or uploading a document?

[kare-bearb]

I was just tapped to join MP.

and I'm really confused.

Provided my birth date, SSN, bank routing & account #'s.

- and in less than 30 minutes, my listings' payment method switched over to MP.

Received an email saying I was good to go.

I NEVER had to verify my bank account.

- wasn't asked for documents, log in info, or notified of impending micro deposits.

I'm clueless.

How was this possible?

[trainutz.com]

Ebay customer for 22 years...top seller...100% positive feedback...verified for managed payments...received 17 payouts to my bank account...HOLD ON A SECOND!  Last 7 payouts held.  Can’t verify?  Two weeks calling managed payout help.  Many promises to fix the problem.  Ebay never calls when they say they will.  I sit by phone for hours!  Ebay is holding way over a thousand dollars of my money.  Yet they have taken their 12.35% Of every sale and charged my credit card for listing fees.  I’m sending out product, using my money for postage.....customers are getting items they bought while I am paying the bills.  I’m expected to ship timely to keep my status with Ebay but with every sale and shipment I lose money and my means to buy supplies for making my product.  Ebay will end up putting a good customer out of business if they keep this up.  Did they forget we are their customers?  Where is the customer service?

[chpohlman333]

Fall in line Train and don't ask questions.  They're "banking" on it.  

[treschic53]

Can we now add a second checking account to MP?  I see an option to add a bank account.   If I add another checking account will it eliminate the first one? 

I loved that PayPal allowed me to direct payments to more than one bank account.  It was great fo managing my business.  

MP is not so flexible. MP System is inadequate if you think that business owners can wrk with it.   I hope that you have corrected the inadequacies.

[su-brown]

I’m all setup for the last few weeks and get my money quickly. This system is not new. Others (you know who) use this process.

NOW I feel dumb. I can’t find my MP information. Last week was no problem. At this time it seems to be hidden. 
Thanks,

Susan