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.

[etvideo1ataol]

That is the way every competent company has always done it, but somehow, nothing seems to work for me.

After many weeks of fighting to do something I don't want to do, my payment are finally going to my bank after a delay of course, so stupid to change what worked to a nightmare.

I am still getting the "RED" notice that I have to update my banking information, nothing seems to get rid of that.

I had two sales on Wednesday, one from eBay and one from another site. both were shipped the same day.

The money from the buyer on other site "IMMEDIATELY" went into PayPal.

The money from the eBay buyer, I am still waiting for.

I guess eBay never heard of cash flow.

Mismanaged Payments is so dumb it is criminal.

[avmanager1]

This whole new System sucks. No other way to put it. I sold something on Wednesday, shipped on Wednesday through Ebay and still do not have my money from Ebay. What sucks even more is that you do not have the same shipping options with Ebay through USPS that you do with paypal. 

I've been an Ebay user for 22 years and I am looking at other options. It might be time to close my account and be done with Ebay. Screwing with my Money was probably the last straw. 

[avmanager1]

Sheila@ebay

This whole new managed payments system sucks. No other way to put it. I have been a small Ebay user for 22 years and will probably be canceling my account. I sold items on Wednesday, shipped on Wednesday through ebay, and still do not have my Money. 

I called and waited for customer service for over 2 hours to find out where my money was and after 2 hours, the phone "disconnected"

Get this right or you will be loosing all your sellers. With holding peoples funds is also illegal. I have met all the conditions in the fine print of your user agreements. 

As of Monday if the funds are not in my checking account, I am contacting the Attorney Generals office in my state as well as looking in to Federal Banking guidelines.

I want my Money. Get the Point?

[bettersailing]

How can you un-enroll from Managed Payments?  This was a bate and switch with held funds and more cost.  

[thsto11]

❤️

[gamesalesus]

Sellers do not want to be forced into this program. Ebay should look at all the negative Reponses to this and see. we the people that sell and pay huge fees for online ad space, do not want this. The only positive responses are most likely ebay employees.

[bondos_swap_shop]

Thank you for posting this, definitely an eye opener.  I started looking into this a short while ago, as I have gotten the notice that I have to do this as well, even though I did have the option of doing it later (for now anyway). I have seen nothing but bad responses on this. I currently do not have a lot on here, although I have at various times. I have been a top rated seller several times over the 20 plus years I've been here. As recently as earlier this year I reached that status again, however Covid screwed that up for me (I'm pretty sure). A few years back I had health issues, which caused my shipping times to suffer, and I was banned from selling because of it. Ebay refused to even listen to why. Their words were "We have washed our hands of this'. However at the beginning of last year, they suddenly, out of the blue, 'reinstated' me. After looking into it, I discovered they had recently hired a new CEO and they were trying to get back some of the older sellers. So, is that what is happening now? New CEO? Hmm...makes one wonder. Having been here as long as the both of us have, we have seen many issues in here, I'm sure. Since I am a small time seller, I simply can NOT afford to not get paid right away. As far as some of the other comments I've read about how PayPal works, I get my money from PayPal IMMEDIATELY. I also have a PayPal debit card, which allows me to spend that money right away as well. I do not have to wait 1 to 4 days for a transfer to my bank (which is why I got it in the first place). I sell on here to make extra cash, NOT for EBay's benefit (or anyone else's).  If I wanted to wait to get paid, I'd go get a second job. Not sure how much longer I will be selling on here, but as it stands right now, it's not looking like I'll be here long. And, from what I've seen so far, there will be a LOT of sellers leaving, and probably for good. As of right now, I definitely do not feel very appreciated by a company I have actually paid thousands to over the last 20 plus years.

[thehoosierconnection]

This most definitely is a much worse way of doing business than through PayPal. Anytime someone forces another to do something, it usually is a problem. This is no different. eBay needs to step up to the late and let sellers determine best how to be paid. I like PayPal. others might like (Mis)Managed Payments. Let us choose eBay!

[stevencalh95]

why we cant  have the old pal pay systems simple fast and easy 

[stevencalh95]

same here 

[chalgy]

Glad to hear I'm not the only person who thinks this is ridiculous. eBay advertises this change as "easy" and "convenient." It's anything but easy and convenient. I'm on day 4 waiting for my money from a sold item to be moved to my bank account. For sellers to go from instant payment to having to wait a week for a payment is such a huge step backwards. Huge. We need/want PayPal back ... or at least the option to choose. I was just getting ready to list a bunch of stuff over the Thanksgiving weekend, but now I will hold off. I really don't see myself listing on eBay ever again unless this is changed. Not a threat, but rather a promise. 

[cogcog]

How do you verify banking info after the banking info has already been entered.  Signed up for managed payments early this month - yet to receive a payment.  I keep getting emails that ebay has sent payments, and then emails stating the payment did not go through.  No one from ebay can help me...I've spend hours on the phone in the past week with customer support, yet no help.  I'm not able to change my bank account either.  Can anyone help???  At this point I'm about ready to call the California Attorney General, as I'm starting to think this managed payment system is a scam.

[reptile_amphibian_refuge_ctr]

Hi, ok so I sold several items, the FED EX shipping fees were deducted from the last sale I made and the balance was deposited to my bank account, BUT when I went to ship that item via USPS, the cost was taken out of my PAYPAL account, ebay is no longer depositing money into.

I am hoping you can see the problem with this, without me having to explain it like I was talking to a child.

So I would have to say this needs to be fixed, also does EBAY have a ID number from the state of mass division of banking regulation to act as its own payment processor and a transfer bank ?

If not I would have to say you might want to hit the brakes before the state does it with a injunction or court order.

[sheila@ebay]

That's right, you can use brokerage accounts and money market accounts to pay bills if you don't have a checking account. I'll pass on that feedback to the Managed Payments team. 

[gwzcomps]

Just wanna say all you eBay people involved are garbage for making the previous waves of people jump through hoops during a pandemic when you could have done this the first place.  Makes me wonder if someone in legal realized they didn't want to be responsible for compromising seller's banking login details.