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.

[howe1850]

Thanks for the reply. I have no issue sharing my info with eBay (or the government), but I found it odd that it only first popped up after my first "test" sale. If they were having issues verifying my bank account, why haven't they sent a message saying we were unable to make these minor deposits to your account, which you were then supposed to confirm. They stated 1-3 business days, it's been 5.

In the seller hub under payments the sale is "Processing- to be completed on Aug 23". Would that mean the error might be a glitch? I guess i'll have to wait until Monday to see.

[mam98031]

@howe1850 

I don't know what the issue might be for you.  Certainly this doesn't tell us enough.  But if uploading your bank statement is your only option it says that will take another 5-7 days to verify.  It also notes that this is the slowest option, so if there is somewhere giving you a different option, try that.

Keep in mind that your name registered on your Ebay account must PERFECTLY match the name on your bank account.  Not a single character can be different.  Same with your address, they must match as well.

I'm sorry I can't be of more help.

[howe1850]

You've been helpful and giving me hope at least. 🙂 The address might be it in that case since it has the Swedish letter "ä" in it while I've put it down as a regular "a" here - Don't recall it being possible to add the correct one when I joined many moons ago. Oh well, a worry for next week depending on what happens on Mon/Tue.

Have a nice weekend!

[mam98031]

---

@howe1850 wrote:

You've been helpful and giving me hope at least. 🙂 The address might be it in that case since it has the Swedish letter "ä" in it while I've put it down as a regular "a" here - Don't recall it being possible to add the correct one when I joined many moons ago. Oh well, a worry for next week depending on what happens on Mon/Tue.

Have a nice weekend!

---

Oh I hope that is the answer for you.  I'll keep my fingers crossed.  I hope you will come back and update us one way or the other next week.  

Remember the addresses have to match too.

[rogue74]

I set up my mom's managed payment account and verified the amounts, then the next day did mine, both using a joint account to accept payments. I didn't get any deposits (ebay did withdraw the two from her verification) and I don't see anything asking me to verify the amounts. I don't know if it detected it was a joint account or what. Both accounts have the Sell button back on there and they said "You're all set!", but from some of the comments I'm not sure. It seems like this should be a LOT more clear about what's going on with an email/message telling you that you are actually set up.

[mam98031]

---

@rogue74 wrote:

I set up my mom's managed payment account and verified the amounts, then the next day did mine, both using a joint account to accept payments. I didn't get any deposits (ebay did withdraw the two from her verification) and I don't see anything asking me to verify the amounts. I don't know if it detected it was a joint account or what. Both accounts have the Sell button back on there and they said "You're all set!", but from some of the comments I'm not sure. It seems like this should be a LOT more clear about what's going on with an email/message telling you that you are actually set up.

---

You are absolutely right.  MP is NOT very clear in its emails or any other form of communication they have with sellers.  They never give us all the needed information even though they have it.  I don't know why they do that as it causes more work for them and more frustrations by the sellers.  But it is what they have consistently done over the past 16 months.

Well I guess time will tell.  Let us know how your transactions go on both accounts.  Good Luck!!

[jinzobuy]

Those screenshots are similar to what I've gotten all these months... never was asked to show ID though.
EBay's killed all my auctions, held my money... for months now.
Evil. Evil evil. Evil evil EVIL evil.

[djm.56]

I have done everything it’s been 23 days and I have sent everything eBay has asked me for Verification. Yet still have no access to my funds and my inventory is running low, I’m really considering a different platform horrible customer service talked to 10 different people yes 10 different people, and what is the Hold Up ?? 

[pescaradave]

Great esplaination.  But where is this located?  YOu have provided nothing of any use whatsoever......

David

[howe1850]

Update. So I sold the item on Friday, the funds were processed (or whichever term was used) on Monday and today was the payout - and the money is now in my bank account even though I did no verification at all, just added my banking details and after my first sale, passport number. 

I still have the "update your account details" banner (both on the PC and Appstore App). Oh well, probably a glitch in that case. 🙂

mam98031, thanks for your calming and helpful replies. Much appreciated.

[mam98031]

---

@pescaradave wrote:

Great esplaination.  But where is this located?  YOu have provided nothing of any use whatsoever......

David

---

@pescaradave 

Have you taken a moment to find it on your own?

https://www.ebay.com/help/selling/getting-paid/registering-seller?id=4792

[mam98031]

---

@howe1850 wrote:

Update. So I sold the item on Friday, the funds were processed (or whichever term was used) on Monday and today was the payout - and the money is now in my bank account even though I did no verification at all, just added my banking details and after my first sale, passport number. 

I still have the "update your account details" banner (both on the PC and Appstore App). Oh well, probably a glitch in that case. 🙂

mam98031, thanks for your calming and helpful replies. Much appreciated.

---

@howe1850 

You are very welcome and I'm very happy to hear all is well for you.  

Let me know if I can assist you any further or answer any other question.

[lillidid]

Same here. I thought everything was fine since two payments were deposited into my account and having to wait even longer to get my money with MP. Two weeks later, I got an email saying my account was restricted for verification purposes and they need a f&b copy of my drivers license and copy of recent bank statement. Done. I got ANOTHER email asking for ANOTHER copy of my bank statement but no explanation as to why the first was unacceptable?? Both had everything they asked for initially…full name, account and routing numbers, etc. waiting to see what the outcome will be. I don’t understand why they switched over to a system that seems to be causing more problems where there were none to begin with. But that’s just me. I don’t sell very often, but when I do, you can bet that those funds are needed ASAP to pay my bills. I’m curious…do large volume sellers also have to deal with this or is it just individual/small business sellers who are being asked for this? 

[mam98031]

@lillidid 

MP is for the entire site.  They now have about 75% of the sellers worldwide onboarded.  They will be complete by the end of the year.

[avacim_52]

Hi Sheila, here you say "We’ll withdraw the amount of the microdeposits from your bank account ..." . This mean ebay has the ability to take money out of my bank account, REALLY?!