ebay managed payment and password bank details

[antiquesdesignonline]

Ebay have demanded that we all sign up to ebays's managed payments scheme. 

In the proccess the ebay system asks us to reveal out bank numbers AND PASSWORD. any bank in Australia advises NOT to give out this information to anyone. hence as of 1st march i will be affected by ebay closures of my listings due to their ILLEGAL demands.

[wide-world-of-stamps]

No, I think twyn was in one of the earlier sign ups, as we were.

At that time we didn't have to give our bank password, only driver's license, BSB & a/c numbers, and bank statement.

Obviously it's changed since then.

[joz15au]

Yes, I was just saying there are possibly good reasons why it has changed. I would have felt a bit funny giving out my password and I don't really think they should ask for it, but as Dave said if you change your password as soon as it's verified there should be no harm done. Maybe take most of your money out till it's verified and the password is changed if you are really uncomfortable with it.

[gutterpunkz05]

The following is taken from ebay managed payments australia as current.

Verifying your banking details

To make sure you receive payouts, you'll need to provide us with the details of your bank account. You can provide this information during registration, or after your account has been activated for managed payments.

To verify your bank account, we'll need:

• Name on the bank account
• Bank name
• BSB number
• Account number
• A recent bank document

Once we verify your information, we'll send you an email to let you know you're set up.

Providing your bank document

Your bank document can be a bank statement or screenshot from your online account.

Please make sure that the bank document:

• Is for the account you're trying to register – the name should be the same name that's on your eBay account
• Clearly shows your first and last name, BSB number, account number and the bank name or logo
• Is less than 3 months old
• Is in colour, not black and white

You can blank out any transactions or amounts to protect your privacy.

Your image can be in JPEG, JPG, PDF, or PNG format. The maximum file size is 10 MB.

Other forums, allthough mostly relating to  Ebay US,  refer to a method of account verification, which involves signing into your bank account from the managed payments registration.  Not sure if that is what is now happening with Ebay AU, but if so apparently it can be bypassed and verification processed as above.

[davewil1964]

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@gutterpunkz05 wrote:

The following is taken from ebay managed payments australia as current.

Verifying your banking details

To make sure you receive payouts, you'll need to provide us with the details of your bank account. You can provide this information during registration, or after your account has been activated for managed payments.

To verify your bank account, we'll need:

• Name on the bank account
• Bank name
• BSB number
• Account number
• A recent bank document

Once we verify your information, we'll send you an email to let you know you're set up.

Providing your bank document

Your bank document can be a bank statement or screenshot from your online account.

Please make sure that the bank document:

• Is for the account you're trying to register – the name should be the same name that's on your eBay account
• Clearly shows your first and last name, BSB number, account number and the bank name or logo
• Is less than 3 months old
• Is in colour, not black and white

You can blank out any transactions or amounts to protect your privacy.

Your image can be in JPEG, JPG, PDF, or PNG format. The maximum file size is 10 MB.

Other forums, allthough mostly relating to  Ebay US,  refer to a method of account verification, which involves signing into your bank account from the managed payments registration.  Not sure if that is what is now happening with Ebay AU, but if so apparently it can be bypassed and verification processed as above.

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It is. It's simple, you allow eBay access, then change the password/access code.

[gutterpunkz05]

Hi Dave,  I thought that might be the case, and if you use that method of verification, then as you say, for peace of mind simply change the password after accpunt verified.

I presume there must be a way to bypass that verification method and choose to upload a document.  I have been on managed payments for about 6 months now and simply uploaded a ... Proof Of Account...as downloaded from bank

[davewil1964]

I wasn't given the option. It was bank account access or the highway.

I chose bank account, waited until it was verified, then changed my access code.

I've been on MP since today, but have yet to sell anything, so I will see how it goes. I have a 4c debit atm. I also have set to daily payments, but will probably reset to weekly once I know that my payments are being transferred.

[gutterpunkz05]

Hi Dave,  Do you select your bank from a list of logos or similar  If so it might be like the US, where apparently you can scroll to the end of list  then enter or select  my bank is not listed even if it is, then manually enter account details and upload a doc

[davewil1964]

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@gutterpunkz05 wrote:

Hi Dave,  Do you select your bank from a list of logos or similar  If so it might be like the US, where apparently you can scroll to the end of list  then enter or select  my bank is not listed even if it is, then manually enter account details and upload a doc

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I honestly cant remember. I got to my bank, gave eBay the access code, picked the relevant account and hit 'Enter'.

[imastawka]

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@davewil1964 wrote:

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@imastawka wrote:

Ebay doesn't ask for passwords

You sure it's ebay asking?

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Yes they do.

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For Managed Payments I only had to verify the info they already had.

No password was needed.

This was last September though.

Seems things have changed somewhat.

[davef!]

I am super uncomfortable with giving any company outside of my bank enough personal information to phone the bank and get access to my account. The details ebay are asking for are the same ones the bank would use to confirm your ID over the phone. If ebay are every hacked, how will you change your DOB or drivers licence details with the bank? 

I also don't want to have to change my banking password because I gave it away, in direct contradiction to the instructions from the bank, provided for the safety of my funds, and likely breaking any claim I have if the account is later compromised.

Why is PayPal not good enough for payments all of a sudden? I'm sure there's a "reason", but is it in my best financial interests or ebay's?