Managed payments

[cardboygaming]

Got put on managed payments 3 months ago. 

Ebay sent a link to enter bank information. I sign in my bank account so they can pull my bank information, however, they get the wrong transit number (I have a personal chequing, but their system automatically enters a business transit number of the bank).  I called my bank, they said its not them and that its EBAYs issue. So i had to put my bank information manually (the correct transit number). I get messages three months later to update/verify my bank account. I put the SAME bank information (i only have one bank account) and their system couldnt verify/match whats on their system even though i got paid the last 3 months. I called them to make sure everything is okay MANY MANY TIMES (15+ calls/chats). They finally asked me for  bank statements and micro deposit verification. THey could have asked me MANY CALLS ago for this information. They still restricted my payout. SMH..... this business is structured to fail

I call in because im iritated as hell, mainly because they are restricting my payout. I'm curious on how they are holding our financial information. The same banking info i provided 3 months ago, that they have on file, is not matching up with the same bank info i just provided for verification. Hmm scary ain't it?

[kawartha-ephemera]

Sounds like loads of fun .... the micro deposit verification should be SOP right from the get go. I'm probably going to take the plunge very soon, hope to have better results!

[mcrlmn]

A couple of Managed Payments queries:

I waited a week for deposits from eBay.

I'm waiting for another.

Does Managed Payments mean the same as 'Scheduled' Payments?

In 2021, I'd like to know why eBay can take money from my account tout suite... today, but doesn't deposit with the same zeal and epediency?

[marnotom!]

It’s the nature of the banking system, apparently. My understanding is that PayPal’s “instant” payments are actually advance payments that are backed up with a credit card.

My memory is hazy, but for some reason I’m recalling that when a former employer of mine switched from paying us employees in cheques and moved to direct deposit, there were a few delayed payments until they got the hang of the timing.

[mcrlmn]

A withdrawal should receive more scrutiny than a depost.

Regardless, a deposit trakes no longer to process than a withdrawal.

Does Managed Payments mean the same as 'Scheduled' Payments?

eBay withdrawals are immediate, but deposits are not?

PayPal doesn't require a credit card.

My employer had no trouble switching to direct deposit, and for over 2 decades deposited my earnings, as agreed, every Thurday, or Friday in lieu of stat.

[cardboygaming]

Highly likely due to AML regulations. There is almost zero scrutiny with withdrawals, however, deposits is a complete different story. 

..im more concerned with how they are handling our personal information (bank/financial info)...

[cardboygaming]

CS finally confirmed that it was due to aml regulations, and that the info I entered matches records. However, they required confirmation of ownership of the bank account.

Guess this is not a data issue.

They could've just revealed that up front instead of after many many many contacts, but ok.

[al_minirides]

I am having no luck with MP either. I signed up on Apr27th as my deadline to sign up was Apr29th. I received the confirmation from Ebay that I was all set up and good to go. I made my first 2 sales on Thursday the 29th .... One canadian buyer and one USA buyer. The funds showed as processing for a few days and then I received a message on May 4th saying the the funds were sent to my bank account (and that It still may take an additional 1-4 days to end up in the account) . The funds have not made it to my bank account even as of now (May 9th ). I did however receive another "payout sent" notification on May 6th saying that the funds were sent and may take an additional 1-4 days. I have talked to the MP team a few times and they blame the bank side.The bank blames the Ebay side and I am stuck here in limbo with 2 items already received by buyers ,no money in my bank account for those items and so frustrated that I just put the rest of my items on "time away " mode until it all gets sorted out. I used to wait for money orders to come in the mail and t was faster and more efficient that MP. With Paypal, I used to have my funds in my bank the very next day and many sellers will say " well that's because Paypal used to " front" you the money". No matter what the reasoning or why Paypal did things the way they did it.....I t was faster and more beneficial to the seller yet someone thought lets go fix something that isn't broken and here we are.