Verify Bank Account Info?

[literaryconundrums]

I got an email from ebay saying that they couldn't verify my bank account info. It is the *same* bank account I've had for four years. What gives?

I've heard of people getting their accounts suspended after they receive notifications like this. I'm freaking out. I selected the micro deposit option because my bank isn't available on the first option, but I don't want to wait 2-4 business days to resolve this!

[ittybitnot]

I got an email from ebay saying that they couldn't verify my bank account info.

@literaryconundrums 

Have you already been getting payouts from the Managed Payment system?  

[kensgiftshop]

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@literaryconundrums wrote:

I don't want to wait 2-4 business days to resolve this!

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Hopefully it doesn't take your bank that long to show the microdeposits.

When I updated mine, the deposits were there the next morning.

[literaryconundrums]

Yes, for a long time, and I've never had a problem. Nothing has changed.

[literaryconundrums]

Okay, I misunderstood this! I didn't realize that with the new payment system they would want to verify again.

[caldreamer]

Are you sure that email came from EBAY and not a scammer trying to get your banking info?   You are already enrolled in Managed Payments (that means your bank was already verify by EBAY). 

EBAY will ask to verify your banking again if they suspect "fraudulent activity" on your account.

[femmefan1946]

FWIW, if your bank were not in the USA, micro-deposits would not work well, because of currency exchange.

If the micro-deposits don't work you can use other methods of confirming your identity.

I used my passport. DH used his driving license. (We Canadians are very very secretive about our Social Insurance Number. Our SIN is our private business.)

US residents can use their SSN or ITIN.

FWIW- I had a lot of problems with my two busiest accounts last summer, but when we finally got them straightened out , the money was promptly transferred.

And while this is annoying, to say the least, it seems to show that eBay/MP is working on being much more secure against hijacking, including hijacking of payment services than was true under Paypal.

Although transfers can take up to four days depending on your bank (not MP, it does seem to be the banks), usually the transfer takes less than 24 hours.

[johnrj1226]

4  years ago the Money Processor was PayPal,  PayPal is in the history books - eBay & PayPal got a  divorce  eBay is now the Money Processor  - aka  Managed Payments - all sellers were required to sign up - eBay sent several Messages & Annoucements.- they need the same info that you gave to PayPal so you can get your money if you sell/sold any thing and so will any other Money Processor that you will deal.    even  a bank debit  card wants to know what checking account is the back-up of their card  (some people have more than one checking account).

[literaryconundrums]

This is what confused me so much, but no; I was not phished. It came directly from ebay, was reflected on my account, and was confirmed by an agent I spoke to. For any who are curious or who are going through the same thing right now, the microdeposits came through today (next business day) and my account is now (re?)-verified. All seems okay so far.

[literaryconundrums]

Don't get me wrong. I enjoy the security. However, I've just seen too many horror stories on these boards with people having similar things happen and then getting their account randomly suspended. I rely too much on this to supplement my income to have to worry about those kinds of goofs. It came through and I was just like, "Oh, sh*t. It's happening to me now."

[literaryconundrums]

From what I'm understanding, I have been signed up for this system since they sent the first notifications they were switching over. I don't know if this has something to do with the new option to get an on-demand deposit of your funds. I did not change any of my bank information, and it was verified as accurate today. 

[yuzuha · Accepted solution]

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@caldreamer wrote:

Are you sure that email came from EBAY and not a scammer trying to get your banking info?   You are already enrolled in Managed Payments (that means your bank was already verify by EBAY). 

EBAY will ask to verify your banking again if they suspect "fraudulent activity" on your account.

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No, sometimes they will just ask you to verify it again for no particular reason. I had it happen to me, I did the microdeposits and entered the amounts, and everything went back to normal the moment I did that.

[femmefan1946]

@johnrj1226 

4 years ago the Money Processor was PayPal,

And Paypal belonged to eBay and all PP fees went to eBay.

[johnrj1226]

As I recall I signed up with Managed  Payments a little  less than 2 years ago as that was when we had to or not get funded on transactions.  Only had two transactions funded thru MP then I hung my eBay selling spurs - to spend more time with my Grandson.  PayPal and eBay had a friendly divorce during the  transition.  Some sellers signed up with MP. earlier kinda' like a Beta test. 

Time will change everything - if it  didn't I'd still be driving a '51 Ford with 3 on the tree, with  manual steering and no air conditioning, 98 HP flat head engine that would vapor lock in the summer and lots  of Bondo to keep it looking good.  Learned how to  change the, fuel pump,  differential, u-joints and transmission on my first $150 car back when I was 16 -18.  Then bought a '50 Mercury  for $350 with overdrive 3 on the  tree.and the  same features but no Bondo (came from Seattle) when I went off college..  Slept on the  beach in Saguatuck, Michigan during Labor Day weekend break  with 3 friends - two in the car and two under the  car - couldn't afford a motel  room.  Yep we had fun drank  beer and  met some interesting ladies.

[hlaht_85]

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