mam98031 • Volunteer Community Member • Buyer/Seller since 1999
I know it can sound scary when you first look at what they need. But just take a deep breath and think about this a bit. If you have read any of the information on how MP works, they collect the money from your buyers and then once the money has cleared it is transferred to your bank account. That is the very basic of what MP is.
So if they are to do this, how would they be able to transfer it to your bank account if you didn't give them your bank account information. Routing number and account number. Of course they can't if you don't give it to them.
As for your SSN, that is an IRS requirement. As a money processor they have to have your SSN in case they need to file 1099K's on you in the future.
As others have shared with you, this same information was given to PP when you started using them to be your money processor as a seller. It is the same information they require.
And others have told you about Etsy. They too have a money processing program and as it happens, they use the same processor that Ebay does, Adyen.
Most sites similar to Ebay all have money processing programs of their own. So if you decide to make a move, make sure you do your research or you may be in for a surprise you didn't want.
Now if you decide to move forward and register with MP. Before you do that, make sure that your REGISTERED name on your Ebay account, PERFECTLY matches the name on the checking account you want to attach to MP. If they aren't matching, even one character different, make sure you correct one or the other [Ebay likely the easiest of the two] so they perfectly match.
Then register. To register does NOT immediately put you into MP. Ebay will send you an email and notify you of your actual entry date. Registering does not move that along any faster. But the sooner you give them the information, the more time they have to process it and ask you any questions they may have before you go active. Because if the questions come after you are active, it could also mean they will hold your money until the question or questions are resolved.
@chpohlman333 wrote:I would prefer not to link my bank acct. to manage my buying and selling. What options do i have?
Then MP would have no way to transfer your money to you.
MP is just for selling, not for buying at all. Just selling. Your buying procedures will not change at all. They will be just as they have been for you, no changes.
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