mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@jimmybetts wrote:Is anybody else having a problem cashing out via debit card? I have successfully withdrew money to my debit cards for months, now all of the sudden when I try, I Get a message saying "Verify your debit card" and can only send to bank account. I have spoke with 6 different people at eBay and got several different answers. The latest is there is a system wide issue and they are working on it.
Anybody else having this issue? Thanks, Jim
I'm not sure I understand the difference. Your Debit Card is tied to a specific checking account. So what difference does it make to you if you have your MP account to go to your checking account. Your Debit card would still have access to the funds in that checking account.
Ebay is required by Federal law to have the accounts tied to a bank account.
Would you mind explaining this to me. I clearly have a misunderstanding of this process and I would very much like to understand. I don't use Debit Cards at all as I see them as being too dangerous since they offer direct access to my cash in my checking account. Just a personal preference.
It is my understanding that a DC is attached to a Bank account and when you purchase something with the DC, it pulls the cash form the associated account.
So if that it true, FYI I don't use Express payouts either, what makes attaching the Debit Card to your MP account for Express Payouts or regular payouts work any faster than attaching a checking account [that the DC is tied to]?
I use my bank account, no surprise since what I wrote above, my regularly scheduled transfers arrive at my bank in less than 24 hours, which works fine for me. I do realize that there are many people out there that need their money faster for a variety of reasons. I respect that.
But I just don't understand why the payout process is faster sending to a DC than directly to the bank account that the DC is attached to. I hope you can help me better understand this.
@brightlightbookseller wrote:I can guess the reason it's different. ACH transfers are an old technology (and less secure than a debit card, btw), and usually take a few days though some banks are faster and some are slower. Debit Cards often use VISA or MasterCard's system, or if not there are several networks of debit card systems that can be used (not sure which ones eBay supports), and if it can go through that method of transferring the money it should be near-instantaneous like paying with a debit card would be.
Thank you so much. Now that makes sense to my little mind. I appreciate the explanation in such a simple way and easy to understand. Much appreciated.
I bank with a major bank, when I have a normal Payout, they release it on the day scheduled and before I'm up and about the next day it is in my account. I don't waste my money on these instant payouts, or it is a waste of money to me. I do respect for others, it can be critical for them to get the money that fast.
@12345jamesstamps wrote:I have Tuesday payouts tied to Express Payouts...Depending on the bank...debit cards are tied to banking routing number...even if one has never writes a check. I do not write checks.
So, I have 2 debit cards with two different banks...in case there is a problem with one debit card. Always expect the unexpected. I don't use checks because checks are not given out free anymore.
One needs a debit card if one want to spend the money that is put into your checking account. eBay prefers the hookup with a debit card....after all...eBay wants one to buy on eBay using a debit card.
I did a dispute with Amazon on one debit card without a problem. So I feel debit cards are rather safe.
Maybe it depends on the bank. Bank of America is not a good bank to hook up to...of course.
I also have credit cards with same banks.
Because of my 2 different debit cards with 2 different banks I don't worry too much.
Having one banking source to me is scary.
I do not need a minimum in both banks.
My Tuesday payouts arrive on Tuesday...and taking money from Express Payouts in "Available Funds" I get in seconds.
Express Payouts has changed a few months ago...it is set up like a checking account now where you can withdraw only what you need...otherwise whatever is in Tuesday Payouts is given in Tuesday Payouts.
And we can only do Express Payouts using Tuesday Payouts...I would prefer the monthly payouts but that is not an option yet.
I had to photo email a copy of my first page of my monthly banking statement to eBay with the "Bank Logo" on it. It is not easy getting "Express Payouts"...and not everyone can get it.
Why would you have a regularly scheduled weekly payout [those happen on Tuesday] as an express payout. Express payouts come with a fee. Does a regularly processed Payout take too long to arrive at your bank? Mine arrive in less than 24 hours. How long do yours take?
Is getting the funds in a few hours verses a few minutes a real issue for you? I mean no disrespect, as I understand for some it is extremely important and worth the extra cost. But you have your account set up on weekly payouts. Why not move to daily payouts and no express payouts and save the additional costs?
Monthly Payouts are available. They happen the first Tuesday of each month.
Yes, Debit cards would have to be tied to the routing number and even the bank account number as that is the function of a DC. When you use it, it pulls the money from your checking account. I do understand what a DC is and how they process.
@brightlightbookseller stopped in and answered the question I ask you. So I am clear now how and why Ebay is allowing DCs.
