Setting up Adyen on stealth, experiences?

[Lucynda]

I called up Adyen and the guy on the phone said I wouldn't have to submit a photo ID for each account because everything is integrated into eBay. I'm integrating because Paypal limited my account on this eBay account this morning and the account is still good and I don't want to lose it. As far as I can tell the only thing I will have to change is my checking accounts. They have my name on them and I will need to have accounts open in my LLC information. I'm wondering if DBA accounts will work? Any help would be nice.

[slokor]

I think at this point you need an invite in order to start using Adyen with your ebay account. Theyre still in their Beta phase.

[Lucynda]

I had the invite. I'm just concerned on how to set it up. If I lose the account it won't matter because I can't use it with a limited PayPal anyway. I'm wondering if they can see the name on my bank account or if they can't because I know paypal can't. When I called I was told they won't ask for a photo Id and if they do they let you block out the identification numbers.
Any information would be helpful.

[Lucynda]

Here is where I am at. https://ibb.co/nknJgcd

I have put stealth info in where it's requesting personal info with the ⊗⊗⊗⊗ last 4 of the stealth social plus my legit LLC and EIN information. it asks for checking account information next and says to make sure the name on the checking account is the same as the business name. Mine are not. They are set up with my personal information but it wouldn't be hard to go down to the bank and set up an account under my LLC. its just to do that I have to pay to have copies of my LLC paperwork sent to via fax to my office supply store which costs me 50 dollars. I would hate to have to do that and have it not work. In the meantime, I have 80 orders sitting in my eBay account waiting to be shipped and I'm wondering if I should cancel them since I don't have access to the money from their sales anymore or should I just cancel them while I get this figured out?

[ddm50]

Originally Posted by Lucynda

Here is where I am at. https://ibb.co/nknJgcd

I have put stealth info in where it's requesting personal info with the ⊗⊗⊗⊗ last 4 of the stealth social plus my legit LLC and EIN information. it asks for checking account information next and says to make sure the name on the checking account is the same as the business name. Mine are not. They are set up with my personal information but it wouldn't be hard to go down to the bank and set up an account under my LLC. its just to do that I have to pay to have copies of my LLC paperwork sent to via fax to my office supply store which costs me 50 dollars. I would hate to have to do that and have it not work. In the meantime, I have 80 orders sitting in my eBay account waiting to be shipped and I'm wondering if I should cancel them since I don't have access to the money from their sales anymore or should I just cancel them while I get this figured out?

Well, I'm not sure, but I think your eBay account would be toast after cancelling 80 orders.

[nickopedia]

I can only assume they will be doing a verifcation to your bank; it's the typical ACH push & pull to your checking/savings.

The verifcation involves two steps:
1) Pushing one or two small deposits to the account.
2) Pulling them back out.

It's the second step that involes an ACH DEBIT, and it always shows the name on the bank account to the receiver (in this case Adyen).

PayPal also has this capability to see the bank account name after verifying, but they probably let it slide for most people (stealthers)

It remains to be seen if they (Adyen) has the same tolerance for account name mismatches as PayPal does.

[dallis]

Why don't you ship the orders? You've been paid, right? Do your job.

Bad move to wait. EB will be shutting you down soon if you don't.

[ivanicon]

you should def ship them out. people are waiting. how would you feel if you were the buyer?

[Lucynda]

So to keep Adyen from seeing my name should I do a DBA account or try to get a business account with only my business name on it, if there is such a thing.

[justmadeit]

id let those customers know there is a delay with there orders before you start getting negs.

[phaz0rz]

Originally Posted by Lucynda

So to keep Adyen from seeing my name should I do a DBA account or try to get a business account with only my business name on it, if there is such a thing.

Sounds like you need to open a business checking account for your LLC.

Don't be fooled. Paypal, Adyen, and any other company that links to your bank account can see the name on your bank account. I learned this through Coinbase (they don't tolerate name mismatches even if it's off by one letter). Paypal has been letting us get away with name mismatches and that's probably part of the reason they are being phased out of eBay (way too much anonymity for sellers).

Chances are the name on your bank will need to match your eBay account with Adyen (just an educated guess) so you might as well spend a half an hour now opening the type of bank account you know will work. Who knows what would happen to your eBay account if you unsuccessfully try to add a bank account.

You didn't keep your LLC paperwork when you created your LLC?

[phaz0rz]

Originally Posted by Lucynda

So to keep Adyen from seeing my name should I do a DBA account or try to get a business account with only my business name on it, if there is such a thing.

If you open a standard LLC checking account the name on it would be your LLC name and not your personal name.

[SaiJin]

Originally Posted by slokor

I think at this point you need an invite in order to start using Adyen with your ebay account. Theyre still in their Beta phase.

Hmm... I wonder if it's beneficial to get into Adyen now instead of waiting for when they force you to it...

What do you guys think?

[phaz0rz]

I think it would be a bad idea to accept the Adyen invite before Paypal is integrated into Adyen, because your sales would plummet. At this point it's the same as using a merchant account which I've been doing for a while, and it's terrible.

But if you can handle the sales drop and shift those sales to another account still accepting PP, it would be cool to see how the application process works.

[Lucynda]

Originally Posted by phaz0rz

You didn't keep your LLC paperwork when you created your LLC?

I did, but I had a family member staying with me at the time who was struggling with mental illness. One of her coping mechanisms was cleaning house and we think she may have thrown them away.

[Lucynda]

Originally Posted by phaz0rz

I think it would be a bad idea to accept the Adyen invite before Paypal is integrated into Adyen, because your sales would plummet. At this point, it's the same as using a merchant account which I've been doing for a while, and it's terrible.

But if you can handle the sales drop and shift those sales to another account still accepting PP, it would be cool to see how the application process works.

I'm not going to be able to use PayPal on this store anymore so the only thing I'm risking is the 50 dollars for my LLC paperwork if setting up Adyen doesn't work. I already planned on shifting the sales to other stores and was just hoping to keep the income coming in from this one since those stores are new and there's that 21-day holding period and having to pay shipping out of pocket for those items during that 21 day period (I hate paypal). The busy season for these products is also Jan-June so there's a time crunch here to take advantage of that and the losses to consider there as well. But I think you are right. I think finding out if it would work or not is worth the risk. I almost feel like I owe risking this 50 bucks to the stealth community just because it's been such a huge help and the information would be helpful. I just have a hard time making decisions.

They just had to do this during my busy season, ugh, I had plans for that income I was going to buy my first rental property.

[Lucynda]

Ok, everyone, I plan on keeping you guys updated as I feel this is important for everyone here. I ordered the copies of my LLC paperwork which turn ed out to only cost $3.50. The state website says different but I'm not going to argue. They will be faxed to my office supply store tomorrow or Monday so I won't be able to open the business account until then. In the meantime, I will go ahead and ship the 80 waiting orders.

[yankee]

Ayden is not at all new. People have been forced to use it on etsy for a long while now. Super duper easy.

[Sausage]

Originally Posted by yankee

Ayden is not at all new. People have been forced to use it on etsy for a long while now. Super duper easy.

Can you elaborate on Super Duper easy?

[nickopedia]

What's Super Duper Easy?

I think like any typical merchant processor that takes credit cards, you have to sign up using your real identity. If so, this effectively eliminates being able to use a stealth account unless you go the Corp or LLC route.

[Lucynda]

Originally Posted by nickopedia

What's Super Duper Easy?

I think like any typical merchant processor that takes credit cards, you have to sign up using your real identity. If so, this effectively eliminates being able to use a stealth account unless you go the Corp or LLC route.

What's wrong with going to corp or LLC route? I have 3 LLC's.

[tim348]

so when are they officially forcing us all to switch to ayden?