Confused - Does eBay Want A Bank Statement Showing Balance and Transactions?

[global.brands]

Hi All

YES I KNOW ITS PROBABLY BEEN ASKED.

Now that we have that out of the way.

I read some posts where people sent a bank statement to verify their identity but

redacted some "private" info.

I did the same but eBay rejected the document and sent me this:

"Thank you for your prompt response to our request to verify account information. Regrettably, we need to inform you that we were not able to complete verification with the information you provided. 

In order to complete our verification process, we are asking you to provide a bank statement. Your bank statement will be used to validate the identity information you provided previously. Until you provide us with this documentation, your payouts are on hold.

Please upload a bank statement that:

• Includes transactions details"

Do they expect me to send them a Bank statement with my Balances and Transaction History for everyone to see?

Cheers

Happy Thanksgiving...

[mr_lincoln]

@global.brands   No, they are not going to post your bank statement for all to see, it is for their internal use.  Does the name on your eBay account AND bank account match exactly?  That could be an issue. 

Prior to going in to Managed Payments I opened a new account with a new bank and got a new credit card through that bank with a fixed limit on it ... that sections eBay business off (and of course access) from all my other banking. 

Without them being able to verify things for you then you will not be able to receive payments from your sales ...

[readabouthorses]

But if they only need to confirm identity why would they need to see all of the transactions? That could include someone's house payment, car payment, what they pay for utilities. It seems when statements get sent with that blacked out they it doesn't pass the test.

I have a theory and it is a wild one so just bear with me ..... Adyen is in the process of trying to get licensed as a US bank. I think they have passed some of the hurdles and can serve as a bank for their clients they process payments for but I think they want more ... I think they want to be the bank for the masses. They are using these bank statements to see if serving the masses is a good idea. Why else would they need to know all your personal banking transactions?  Don't be surprised if sometime in the future eBay sellers will be required to have an Adyen checking account to do business here. Think about it. Instant clients.

[downunder-61]

Pretty sure Adyen were registered and approved in June 2021 in California

[global.brands]

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@readabouthorses wrote:

But if they only need to confirm identity why would they need to see all of the transactions? That could include someone's house payment, car payment, what they pay for utilities. It seems when statements get sent with that blacked out they it doesn't pass the test.

I agree. As long as the info matches why do they need to see my balance plus every single transaction.

Just don't see it... 

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[readabouthorses]

But not as a bank for the masses ... us eBay sellers are not clients of Adyen, eBay is. We are clients of eBay.

Banking licenses seem to be a complicated thing with many steps to go through.

I read a few of the articles about Adyen getting their banking permissions and it sounded like that approval was just to be a bank for their clients (the people they are processing payments for) which is not us eBay sellers but it would include all the heavy hitters like eBay, Etsy, Netflix, and many many others.

[josepmcelro_3]

They want the whole statement including the four corners, nothing altered. I went through this in October and it took until November 9th  for them to accept information. 

[global.brands]

So.... Just spoke to account Rep and Yes they want it all, including a pint of plasma and your DNA.
Seems very invasive and borderline illegal! 

[jda15121]

If you are so worried about all that "personal" information, open an online bank account, write a couple of checks on it and send them that. How easy can it get. You do know that many banks sell your personal info all over the place.

[global.brands]

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@jda15121 wrote:

If you are so worried about all that "personal" information, open an online bank account, write a couple of checks on it and send them that. How easy can it get. You do know that many banks sell your personal info all over the place.

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Yes i agree to a point. They may sell personal info but not Acc numbers, Bank balance and transactions going back for 3 months...

Surely a statement with Bank, Name and Acc Num should be enough to verify identity...

[global.brands · Accepted solution]

Anyway it all comes down to personal opinion.

I have my answer.

Thanks All

Have a great Thanksgiving...

[jda15121]

Their game, their rules. Never asked me for three months......

[buyselljack2016]

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@global.brands wrote:

So.... Just spoke to account Rep and Yes they want it all, including a pint of plasma and your DNA.
Seems very invasive and borderline illegal! So you know what eBay GFY!

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Seems so strange that they need that much info to verify someone.

Balances, and transactions should be none of eBay's business, and there should be no reason for them to see it.

Way back,  when I signed up for MP they needed a bank statement with my name, address, account #. Everything that was none of their business was blacked out, and I was then OK for MP.  Same with second selling account, and same process for my wife when she was put into MP last year.

There is nothing else on that bank statement that should be revealed to eBay.

There is nothing else on that bank statement that eBay has any right to see.

Exception may be if they were making "micro deposits" to that account to verify it. Then that would need to be seen, but beyond that it sounds like eBay CS is once again confused.

[readabouthorses]

But what if it isn't eBay that needs to see all this? What if it is Adyen that needs to see all this information?

Why are we suddenly seeing people popping up that have been in MP for awhile with no problems and now they need to submit all this information?

[mr_lincoln]

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@josepmcelro_3 wrote:

They want the whole statement including the four corners, nothing altered. I went through this in October and it took until November 9th  for them to accept information. 

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@josepmcelro_3   What I find interesting is that some of these seemingly ridiculous requests are more recent then when many Sellers went in to MP last year ... for example, had they asked me for a bank statement when my account went in to MP they would have gotten a bank page with nothing on it ... other then the initial cash deposit I made when I opened the brand new account just for MP ... page corners?  Yep, all 4 ... bank header?  yep ... name on the account, etc?  Yep ... history of transactions ... one, initial deposit when the account was opened ...