Ebay Is Stuck In A Loop

[horiz-8179]

I've just joined Ebay and have recently sold my first item. So far so good. Problem is, Ebay  keeps asking me to update my bank details.

The sale apparently went through  but a few days later I got a msg from Ebay saying I needed to update my bank details (a/c no. and BSB. I did, and then I got a msg saying the funds would be in my bank a/c within a couple of days. This has happened 3-4 times since last month and a few days ago  I received another email saying 11/1 would be the last day I'd be able to claim the money. I'm hoping this is just part of the whole silly loop that seems to be going on.

Ebay "help" has been totally UNhelpful. None of the questions addressed the issue I have and when I typed my msg into "contact", it just spat back a link to the help page, which had nothing of value for me, as noted.

[countessalmirena]

s_n_d, can money come out of your savings account? I take eBay’s spiel about a savings account as meaning an account from which funds cannot be removed, since eBay need to be able to deduct funds in the event of a problem.

[imastawka]

A couple of years ago, I was prepared to walk hubby through the process of registering as he wanted to sell bits and pieces.

Lo and behold, they only asked for confirmation of the bank account they had on file.

i.e. BSB and account number.

I couldn't believe it.

[*sons_n_daughters*]

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@countessalmirena wrote:

s_n_d, can money come out of your savings account? I take eBay’s spiel about a savings account as meaning an account from which funds cannot be removed, since eBay need to be able to deduct funds in the event of a problem.

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Of course money can come out of my savings account, that's how my bills are paid. I have fortnightly payments being sent from my savings account to my land rates, utility bills and credit card (the credit card is now over $2,000 in credit. In fact, so is the gas and electricity. Gas is nudging $3,000. I'm 2 years in front with the land rates). 

If it was something like a Christmas Club account, then no, you couldn't have money taken from it, but a regular savings account, of course. I have accounts with 2 banks, and both the main accounts are savings accounts. I have no issues paying anything from either account.

If you can't pay anything from your savings account, how to people buy their groceries? Not everyone uses a credit card to pay for everything.

[sugar249]

There are actually 2 types of ''savings'' accounts,  its confusing and it is just a terminology thing within the banks.

The general savings account is really a transaction account  like S-N-D has described,  it does everything,  but it appears as a savings account, .

But than you have real savings accounts,  where the only thing you can do is deposit funds to it from virtually anywhere,  But can only withdraw funds  to transfer to your own accounts,  but no one like Ebay can actually get funds for thier transaction fee's.   I have one of these as well,  where I chuck all my spare funds into (reasonable interest rate),  but last week I needed access to the funds, so first had to transfer it from my savings account to my transaction account (savings), before I could send it off to my intended recipient.

The banking system is stuffed and there are ''saving'' account and ''savings'' accounts''.  Dont get me started about other ''accounts''