Managed Payments - Not All Checking Accounts Accepted

[evshop.nyc]

To save some of you some time, eBay is not accepting checking accounts from Brokerage investments banks either. FDIC insured or not. It doesn't matter to them. ONLY traditional bank accounts are accepted as far as I am aware.

So literally, there are only two options available for sellers in this situation:

1. Close your eBay account and let your buyers follow your products.

2. Open a separate checking account exclusively for eBay.

I opted to close my eBay accounts as I know I am the only seller in the USA for a couple products and know  customers will find my products with a quick online search.

I understand everyones situation is different but is it really worth the extra headache? Other marketplaces and financial institutions have no issues sending payouts to my brokerage checking accounts. 

[corvettestainless]

Absolutely worth the 'extra' headache- as it's really not a headache to

a.) keep personal finances separate from business 

b.) spend all of 10 minutes on line to open a separate account

[angwjea]

it pretty much the death of small time selling here . who wants to give ebay all that info to sell.  

[evshop.nyc]

Is it definitely a very risky move by eBay especially at this time with all the new competitors surfacing, during the holidays when most sales are expected, and in the middle of a pandemic when more people are ordering online than ever. If I was an eBay shareholder, I would of sold all stocks by now lol

In their defense though, I sell on a couple other marketplaces that uses the same payout system eBay is trying to implement and you still would have to provide the basics, SS, checking acc and routing. It's just before they were using Paypal as the middleman.

But you are right, at the end, it comes down to which companies do we trust with our data.