mam98031 • Volunteer Community Member • Buyer/Seller since 1999
payments_team@ebay wrote:
@mam98031 wrote:
payments_team@ebay wrote:
@hurryagain wrote:
payments_team@ebay wrote:Hi @loveyourimagination49 & @hurryagain I appreciate the feedback. Currently, we do require a physical address for managed payments and the address on file has to match the bank account information. I will pass along your concerns to the appropriate team.
And what if my bank account info is my PO box, like it is, like my driver's license is and everything else is?
Do I need to stop selling? Should I put a notice to my customers on my listings that I will not be able to sell here for the foreseeable future? Hopefully I will be able to return? I have already sold a few things and have others in auction ending very soon. Do I stop and cancel everything? What happens if I cannot get paid? I cannot sell and not get compensated with the proceeds of the sale - I just can't. I have ALWAYS reported my sales for tax purposes so that is not at issue for me.
Please advise me as to how to proceed in regards to selling (or not selling) here.
Thank you for your time on this matter.
@hurryagain to clarify, a bank account with a physical address will need to be used for managed payments. The feedback in this thread has been sent over to the appropriate team.
So what does a member do when that physical address can NOT be used for mail delivery. Some people have to have a PO box in order to receive mail.
A physical address is NOT always the same as a mailing address and they can't always be the same. So what is the fix for those MP has onboarded and holding money on. What choice do these sellers have so they can get them money flowing out of MP as it should?
@mam98031 we suggest members in this situation request a call from payments customer support to discuss this further.
Wow! If you can't answer, how will the help line answer the problem. My guess is there isn't a set procedure for this yet. If so why? It can't be the first time it has come up.
So this seller has to call every day until they get lucky enough to get a call back from the phone help team to do what exactly? What is that going to do for @hurryagain ?
I know you are just passing information as given to you. I get that, but sometimes it is just not enough and these things should have been thought of and worked out long before now. Hurryagain can't be the first seller with this issue.
Thank you so much for hanging out with me during this process. Wow is right. I am unsure as to whether to stop selling ASAP or wait until something hits a wall.
They could not verify my bank account so they did 2 micropayments to my acct and had me verify those payments which I did. They said "Great! You're all set!" But I am figuring that it is only for verifying my bank acct and nothing more...???
I guess that if I don't get paid, i can always use that as a tax write-off...??? LOL!!! What would I put it under? Unpaid invoice...theft...??? OMG - LOL!!!
...well..at least I'm still laughing...sort of...
@hurryagain wrote:
Thank you so much for hanging out with me during this process. Wow is right. I am unsure as to whether to stop selling ASAP or wait until something hits a wall.
They could not verify my bank account so they did 2 micropayments to my acct and had me verify those payments which I did. They said "Great! You're all set!" But I am figuring that it is only for verifying my bank acct and nothing more...???
I guess that if I don't get paid, i can always use that as a tax write-off...??? LOL!!! What would I put it under? Unpaid invoice...theft...??? OMG - LOL!!!
...well..at least I'm still laughing...sort of...
I wouldn't say to stop or go on Vaca just yet. First thing tomorrow, as early as you can, call MP support so you can get on their call backs for the day. Keep me informed if you'd like. I'll be there for you all the way. But let's see if calling does any good first as it would be the best thing for you and your account if they have a recommendation.
While you wait for their call back tomorrow, you might just call your bank and ask them what they might suggest, don't implement, just get their take on the situation. This actually shouldn't be a new problem for them either as I really think this is coming from the 2020 Anti Money Laundering law for verification of ID.
@theme2655 wrote:According to the IRS Ebay income isn't taxed if it's below $2500 and/or has less than 200 individual sales. If someone is just de-cluttering their garage or closet it's not worth opening-up a identity theft threat by attaching bank numbers and SSN just to make a couple of hundred dollars. If Ebay was trying to get the most sellers they wouldn't ask for bank info if the seller stays below a certain dollar/sales amount. Ebay is doing this because they don't want to pay PayPal fees( that's a two way street). My PayPal account does not have my bank account attached to it just a credit card. I feel safer that way. I'm done with Ebay. And, yeah, I pay taxes.
That is ABSOLUTELY INCORRECT! BAD INFO. IRS does NOT have a minimum $$ amount for claiming income. Now it is possible that you will have enough expenses to claim to offset anything you may have earned, but that does NOT mean you don't have to claim it. That is completely false.
I think you are confused with the 1099K thresholds which is $20,000 and 200 transactions. But that also does NOT mean that those that do not get that form or qualify for that form do not have to claim their income from internet sales on their Federal Tax reports because we DO.
Be very careful in what you advise if you aren't completely sure and can back up what you say as you may cause someone significant financial harm.
@theme2655 wrote:Are we the only two people who know this ? Thanks for posting this. Ebay should not ask for the information unless the person goes over a certain dollar/sales amount. They just don't want to pay transaction fees.
That is also incorrect. There are federal laws that require the information to be collected by a money processor. IDs have to be verified under the Anti Money laundering laws and SSNs are an important part of that as they are unique to everyone.
https://www.finra.org/rules-guidance/key-topics/aml/faq
Bank account information is needed so the money processor can get your money to you. None of this info is that big of a secret either. Have you ever sent or given anyone a paper check before? You do know your bank routing number is on that check along with your bank account number, right? And bank routing numbers are actually public information. You can get that for any bank by calling them or going to their website.
I don't know how old you are, but many years ago lots of people actually put their Drivers License numbers on their checks to facilitate the ID process when you were trying to use a check to pay at some store or something. I know, I'm old as that was a long time ago.
@mam98031 wrote:
@hurryagain wrote:
Thank you so much for hanging out with me during this process. Wow is right. I am unsure as to whether to stop selling ASAP or wait until something hits a wall.
They could not verify my bank account so they did 2 micropayments to my acct and had me verify those payments which I did. They said "Great! You're all set!" But I am figuring that it is only for verifying my bank acct and nothing more...???
I guess that if I don't get paid, i can always use that as a tax write-off...??? LOL!!! What would I put it under? Unpaid invoice...theft...??? OMG - LOL!!!
...well..at least I'm still laughing...sort of...
I wouldn't say to stop or go on Vaca just yet. First thing tomorrow, as early as you can, call MP support so you can get on their call backs for the day. Keep me informed if you'd like. I'll be there for you all the way. But let's see if calling does any good first as it would be the best thing for you and your account if they have a recommendation.
While you wait for their call back tomorrow, you might just call your bank and ask them what they might suggest, don't implement, just get their take on the situation. This actually shouldn't be a new problem for them either as I really think this is coming from the 2020 Anti Money Laundering law for verification of ID.
Unfortunately I have some obligations tomorrow and I won't be able to call them. I will try on Monday morning.
Since they did verify my bank acct and should be sending my payments for now, maybe I should wait until they flag me on this...maybe I'll get lucky...???
Thanks for sticking with me on this! 😋
@hurryagain wrote:
@mam98031 wrote:
@hurryagain wrote:
Thank you so much for hanging out with me during this process. Wow is right. I am unsure as to whether to stop selling ASAP or wait until something hits a wall.
They could not verify my bank account so they did 2 micropayments to my acct and had me verify those payments which I did. They said "Great! You're all set!" But I am figuring that it is only for verifying my bank acct and nothing more...???
I guess that if I don't get paid, i can always use that as a tax write-off...??? LOL!!! What would I put it under? Unpaid invoice...theft...??? OMG - LOL!!!
...well..at least I'm still laughing...sort of...
I wouldn't say to stop or go on Vaca just yet. First thing tomorrow, as early as you can, call MP support so you can get on their call backs for the day. Keep me informed if you'd like. I'll be there for you all the way. But let's see if calling does any good first as it would be the best thing for you and your account if they have a recommendation.
While you wait for their call back tomorrow, you might just call your bank and ask them what they might suggest, don't implement, just get their take on the situation. This actually shouldn't be a new problem for them either as I really think this is coming from the 2020 Anti Money Laundering law for verification of ID.
Unfortunately I have some obligations tomorrow and I won't be able to call them. I will try on Monday morning.
Since they did verify my bank acct and should be sending my payments for now, maybe I should wait until they flag me on this...maybe I'll get lucky...???
Thanks for sticking with me on this! 😋
Sounds like a plan. But the first sign of trouble let me know. I'll be around for you.
@yuzuha wrote:
@mam98031 wrote:I don't know how old you are, but many years ago lots of people actually put their Drivers License numbers on their checks to facilitate the ID process when you were trying to use a check to pay at some store or something. I know, I'm old as that was a long time ago.
The B&M store I work in requires a driver's license if you want to pay for a purchase with a check. We write down the driver's license number, the state, the birthdate and the customer's phone number if it isn't already printed on the check.
Do you remember that when we use to have two forms of ID to pay for something at a store with a check? For many years the clerk would write down the drivers license number AND the credit card number. Then at some point they passed a law that they could look at a CC for a 2nd form of ID but they could not write the number down.
I mean we use to do this without thought or concern. CRAZY !!!
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