Savings Account for Payout

[cormoulde0]

Does anyone know if ebay deposits into savings accounts? I put in my saving information, but I noticed it asked for a checking. I'm trying to avoid checking, as I've used a savings all my life. Because I put in my savings information, should it still deposit into my savings account, or will I have to open a checking account? Thanks.

[evry1nositswindy]

No, it has to be a checking account.  Savings accounts do not have routing numbers and cannot receive ACH (automatic clearing house) deposits.  There are federal regulations that have to be followed.  This has to do with tracking money laundering, etc.  This is a law, nothing to do with eBay rules.

Many people are setting up a separate account for eBay deposits.   I did this when I started selling.  The debit card attached to the account is the one I use for purchases.  I have been in MP for a year and no issues whatsoever.

[kensgiftshop]

@cormoulde0 

A savings account might work a couple times, but they'll make you switch to a checking account.

[mam98031]

The following links are very informative and easy to read. Lots of great information in these articles that contain information you should be aware of. After you read them you will likely have questions. Come on back and ask whatever you need to.

https://community.ebay.com/t5/Payments-Resources/How-does-the-updated-eBay-payments-experience-work-...

https://community.ebay.com/t5/Payments-Resources/Have-questions-about-payments-Check-out-this-post-f...

https://community.ebay.com/t5/Payments-Resources/Infographic-How-payouts-work-when-eBay-manages-paym...

https://community.ebay.com/t5/Payment-Resources/Changes-to-the-eBay-invoicing-process/ba-p/32004201