mam98031 • Volunteer Community Member • Buyer/Seller since 1999
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.
@avacim_52 wrote: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?!
Of course they do. This is not an unusual procedure. It is normal in money processing systems. Even PayPal had that option if they wanted or needed to exercise it.
Now with that said, it isn't as bad as it sounds. If your MP account goes into a negative Available balance and you don't have Pending payments that will cover it soon, Ebay will send you an email telling you a date a few days away that they will be covering the negative balance by taking some funds out of your checking account to cover it.
However, you have the ability to enter a back up funding source, I use a Credit Card. If you do that, then they will turn to your CC first and NOT your checking account.
If a seller is paying attention and monitoring their MP account daily as they should, then none of this will sneak up on you. Watching your MP account is as important as reviewing your Seller Dashboard regularly.
One other thing I'll share. What I often recommend to sellers is to open another checking account or use one you don't use often to attach to Ebay or any other online site you may sell on. Keeping it all separated away from your personal stuff. It will give you a bigger piece of mind and allow you to have much cleaner bookkeeping.
@ckaminski2000 wrote:How do you get back to the "Registration site" to enter the micro deposits?
In the email you got from MP, it explains where to verify these deposits. It is not on the Registration screen, but in your Seller Hub under the Payments Tab. There you will find a flag that tells you what your next step is.
Using micro-deposits
Alternatively, you can choose to verify your account using micro-deposits.
If you choose this option, we'll send two micro-deposits (small payments) to your linked checking account. It can take a few days for the micro-deposits to reach your checking account, depending on your financial institution. Once they’ve reached your account, sign into My eBay or Seller Hub and follow the instructions on the banner to enter and confirm the micro-deposit amounts to verify your account.
Once verification is complete, the micro-deposits will be withdrawn from your checking account.
https://www.ebay.com/help/selling/getting-paid/registering-seller?id=4792
@edwardkoch1978 wrote:From a programming, design, and architectural standpoint eBay is probably the worst there is. They put very little effort in making things work right because they simply do not have to. This is the problem when there isn't enough competition in a space.
eBay not only saves money by not upgrading their UI, backend operations, and CS efficacy, they also make money on holding users cash. The system is broken by design.
It took lawsuits, and eventually competition to get PayPal to get their act together. eBay's time will come as well.
I realize this is your opinion, but it is likely outdated. The reason the Community has changed so much is because Ebay is moving from Old programming to more current programming. Same with the rest of the site, things are a changing as they need to change them so they work with the new programming. Ebay has been moving this direction for the last couple years that I'm aware of.
@i.h.c.llc wrote:I received the deposits but when I try to enter them in on eBay it wont let me. Do I have to wait till I get a email from eBay saying I can?
No. Just go to your Seller Hub. There will be a flag there and it will tell you what to do to verify the micro payments.
@carin-7443 wrote:Hello! Can someone help! It’s been over 2 weeks and I haven’t got any microdepostits in my account.
Is it actually stopping your MP account from working? Or are you assuming it is?
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