Managed payments initial deposits of pennies x2 to checking acct?

[schnizzles]

Hi all !

I signed up for managed payments yesterday.  I received two separate deposits of a few pennies today, in my checking acct..  What's up with this?

I'm curious to know if this happens to all new managed payment sellers?

Thx

[eburtonlab]

I am not in Managed Payments, so I cannot speak to whether is this how eBay commonly handles that, but back when I linked a bank account to my PayPal account there was a very similar procedure. PayPal made two small deposits in quick succession, then asked me to confirm the individual amounts. That ensured I had access to the actual account and it was indeed the correct account. Someone without direct access to the account but who could periodically check the balance would not be able to identify the two amounts unless they checked the balance between the two deposits, which is most unlikely.

[klhmdg]

I had the same thing. Then I was told to verify the deposits and my MP account would be all set to go.

Once you verify the amounts, they will be withdrawn from your account.

[soh.maryl]

Probably for the purpose of making sure your account is set up correctly to receive payments.

[corvettestainless]

It's a very typical confirmation process; you have to return back to the website and input those 2 deposits...or your Account is NOT OPENED and you will get NO DOLLARS deposited in your bank account. 

This has been done since the advent of internet banking and has been done by gambling houses and banks when opening a new account on line. 

[tbates79]

They do this to verify your seller deposit account

[bossesale77]

They're called micro deposits and they're used to verify a sellers banking info.

https://community.ebay.com/t5/Payments/A-new-way-to-verify-your-bank-account-for-managed-payments/m-...

[kh-vince]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread if you wish to continue to discuss this topic.

Thank you for understanding.