question for those who started another checking account for managed payments

[tatertot2u57]

I want to do this so it'll leave some  confusion out of my checking acct. I've had forever.

(  never had a checking acct. tied in with ebay ) 

Did you change your name any on the newly created one ( Eg: leaving out a middle initial when there is one on your original checking acct.  ) and /or  change your shipping address for the new one ? ( Eg : if you've always used a p.o. box for your original checking... did you change it to your home address?) 

These are possible scenarios am thinking about doing to cut down on any possible confusion with having  2 checking accts.  solely in  my name ) 

Does the name on the checking acct. have to exactly match what is tied into your social security #  ? 

( in my case it would be my full first name, middle initial and last name like my original checking acct. ) 

I need to do this and looks like there may be more " verifying" after many get it  done , want to get it right the first time.  Seems ebay may want a copy of a bank statement or cancelled check, not much time to have all that by May 21st !   

Also...for sure can I use the new checking acct. for BOTH my seller accounts? 

Thanks if you can help . 

[katzrul15]

We only have 1 selling account on here, so not certain on that question.  Someone who has multiples will surely answer that for you.

We opened at a separate bank an online checking account and used the information exactly as it appeared on our DL/SS card.  We have a separate mailing address, so we used that to register (everything matches exactly what is on our selling account, etc).

We waited a few days after we funded the account, received our debit card in the mail and finalized all the online banking details on our phone and laptop and then entered all our info into e-Bay.  We did this last fall (Oct 2020) and it took it right away, we had no issues.  It did take a few days for us then to convert to MP.  No idea now as it might be quicker.

I have mine diaried to put in my monthly store fee in my account on the 29th of each month and it does it automatically to be there for e-Bay to pull that amount out.  The checking we chose is free checking as long as you ACH into it each month, which with e-Bay, we do.  We chose a local bank with free online checking - actually just googled who had deals and set it up and funded it online in a matter of minutes (had to answer q's to verify who I was, needed my DL and SSN, etc).

Only use it for e-Bay and have alerts set up to it so we get a text, etc. in case of an issue.

Good luck - it was really painless for us to register the new checking with e-Bay, but others posted it was not, so YMMV.  We just made sure it matched everything we had as account info with e-Bay and it what was there was also what was on our IDs as well.  If not, you might want to update your account info with e-Bay to make it all match first.

[tatertot2u57]

thank you for your reply , that was helpful.  Hopefully someone will chime in that has more than one ebay/id acct. that uses the same checking for them. 

[lamber9347]

@tatertot2u57 Sorry but I'm sure I'm not answering all of your questions because I'm having trouble understanding each of them. I'll try to answer what I can understand. 

I have three separate checking accounts. I normally maintain two checking accounts for a variety of personal reasons. I opened a third new account just for eBay this past January. My name is the exact same name, and home address, on all three accounts. There is no limit to the amount of checking accounts a person is allowed to open. The only confusion to eBay would be that only one can be tied to MP and it has to be the same name as on your selling account. 

The name on your selling account has to match exactly with the name on the checking account which you link to MP. I have both a selling account and a buying only account (this one) on eBay. Only my selling account is linked to MP because it only affects sellers and not buyers. So there is no reason for my buying account to have anything to do with MP or the checking account linked to MP. 

You can still get your new checking account verified for MP. When you open your new checking account just have the branch manger sign a short letter stating this is your new checking account. Have them do this on bank letterhead. There will be no charge for that. You can then submit that letter in lieu of a bank statement since you have a new checking account. 

Best of luck to you....

[forward-motion]

I did open an separate account at a different bank. That way it is easy to separate. 

[luckythewinner]

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Does the name on the checking acct. have to exactly match what is tied into your social security #  ? 

Mine doesn't. But this page on eBay says the name on your eBay account must match the name on your checking account: 

https://www.ebay.com/help/selling/getting-paid/submitting-updating-information-managed-payments?id=4...

Also...for sure can I use the new checking acct. for BOTH my seller accounts? 

I used the same checking account for 6 eBay selling accounts. 

Seems ebay may want a copy of a bank statement or cancelled check

I was not asked for either. 

[tatertot2u57]

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@lamber9347 wrote:

@tatertot2u57 Sorry but I'm sure I'm not answering all of your questions because I'm having trouble understanding each of them. I'll try to answer what I can understand. 

I have three separate checking accounts. I normally maintain two checking accounts for a variety of personal reasons. I opened a third new account just for eBay this past January. My name is the exact same name, and home address, on all three accounts. There is no limit to the amount of checking accounts a person is allowed to open. The only confusion to eBay would be that only one can be tied to MP and it has to be the same name as on your selling account. 

The name on your selling account has to match exactly with the name on the checking account which you link to MP. I have both a selling account and a buying only account (this one) on eBay. Only my selling account is linked to MP because it only affects sellers and not buyers. So there is no reason for my buying account to have anything to do with MP or the checking account linked to MP. 

You can still get your new checking account verified for MP. When you open your new checking account just have the branch manger sign a short letter stating this is your new checking account. Have them do this on bank letterhead. There will be no charge for that. You can then submit that letter in lieu of a bank statement since you have a new checking account. 

Best of luck to you....

thank you lamber9347, that also was helpful and gave me an idea.  Since I really don't sell much at all, especially on one acct. , you gave me an idea.

I may quit listing with that ID all together and just buy with it.   

Main thing with my having  2 ( or 3 )  checking accts. having my  same name and address  on them is I may possibly   confuse  them when I go to write a check, lol. 

Just more than I want to have to keep up with really.  Looking for some simplicity in my old age...it ain't happening ! 

Went to the bank today,  3 weeks to get an appt. to get another checking act.  , unreal .

Said can't do it on the phone but can online and I don't bank online, oh my. 

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[tatertot2u57]

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@forward-motion wrote:

I did open an separate account at a different bank. That way it is easy to separate. 

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that's a good idea but I have perks with my current bank for being with them for about 40 years now,lol  .

[tatertot2u57]

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@luckythewinner wrote:

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Does the name on the checking acct. have to exactly match what is tied into your social security #  ? 

Mine doesn't. But this page on eBay says the name on your eBay account must match the name on your checking account: 

https://www.ebay.com/help/selling/getting-paid/submitting-updating-information-managed-payments?id=4...

Also...for sure can I use the new checking acct. for BOTH my seller accounts? 

I used the same checking account for 6 eBay selling accounts. 

Seems ebay may want a copy of a bank statement or cancelled check

I was not asked for either. 

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ok, great...answer # 2 is really what I needed to know and the rest is all good to know too ! 

Very helpful luckythewinner ! 

[divwido]

Yes, I made a separate checking account to keep money coming and going in a different accunt.  One account is for our lives, one is for eBay.

And the data is the same for both and it took me two seconds to make it on the bank's web site.

[a_c_green]

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@tatertot2u57 wrote:

These are possible scenarios am thinking about doing to cut down on any possible confusion with having  2 checking accts.  solely in  my name )  

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Neither eBay nor the bank is going to confuse two Checking accounts with the same name on them. Only the number matters because that is what transactions will reference.

JPMorgan/Chase here in Chicago must have dozens of accounts in the name of John Smith or Bob Thomas or whatever. It all boils down to what name is on the account number that is provided to eBay by you. The name on your account has to exactly match whatever is on the proof of ID that you are supplying. It doesn't matter if the same name appears on any other account under any other number.

[evry1nositswindy]

I opened a separate checking account at my local bank.  I worked there several years back and have had my main accounts there for 30 years.  My name is the primary.  I even had checks made with my seller name on them for when I go to auctions.  It helps me see at a glance which account is which.  I didn't have to provide a statement or letter.  Added account number, routing number,ssn, and done.

[annefox2]

I opened my checking account at a different bank. I didn't want Ebay to have access to my main money.  I also did not want the Bank to be able to move money between accounts. 

[coolections]

If someone reads this just a question: why does everyone keep opening checking accounts and not just use a savings account ?

[lamber9347]

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@coolections wrote:

If someone reads this just a question: why does everyone keep opening checking accounts and not just use a savings account ?

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@coolections Savings accounts aren't allowed with MP, only checking accounts. Savings accounts are designed to put money into them, not take it out. Typically a savings account will allow up to five withdrawals a month. More than that can incur extra charges or the bank can change the savings account into a checking account if repeated withdrawals continue. A checking account is designed for deposits and withdrawals continually.