Adyen how now asked for a bank statement

[Lucynda]

Originally Posted by Leader2dark

Why did they not accept the bank info you got from the teller? This Adyen is starting to sound like a nightmare.

Not as bad as eBay. I tried to upgrade to a business account on a new stealth PayPal and I have to send them a paycheck stub and my LLC paperwork (which I don't have yet). This may be the way of the future for us though now that they are putting all of the extra measures in to try and prevent money laundering (which won't work because people breaking the law will just continue to steal identities to do it.)

[Lucynda]

When I went to the bank I was told to get a statement with the new address on it I would have to wait for a whole cycle. I'm not willing to wait that long. I would like to send in a real document for this since it is a real account (even if there isn't a risk) and frankly I need a few days to catch things up around the house so I just ordered some checks and will wait the 4 or 5 days it takes to get them and then send them a canceled check.

[agent006140]

Originally Posted by phaz0rz

They specifically asked for a bank statement and Lucynda provided something different that would have been harder to get. I wouldn't have accepted it either.

There are some folks who dont have bank account,these days they ask you to keep a minimum balance else there is a monthlly fee,you are limited to x number of free withdrawals per month,NSF is stiff.
they just cash their paycheck and use cash to pay bills,buy grocery

[ddm50]

Originally Posted by agent006140

There are some folks who dont have bank account,these days they ask you to keep a minimum balance else there is a monthlly fee,you are limited to x number of free withdrawals per month,NSF is stiff.
they just cash their paycheck and use cash to pay bills,buy grocery

About 13 milion ppl don't have a bank account in the U.S.

[Leader2dark]

These new requirements are nuts. What are they exactly trying to prevent? Hold the money for 30 days or whatever if you think people are scamming. I don't want them to have a 10-page file on my identity.

[Lucynda]

Originally Posted by Leader2dark

These new requirements are nuts. What are they exactly trying to prevent? Hold the money for 30 days or whatever if you think people are scamming. I don't want them to have a 10-page file on my identity.

These new measures are supposed to help prevent money laundering, but it's not going to prevent anything.

[Leader2dark]

Originally Posted by Lucynda

These new measures are supposed to help prevent money laundering, but it's not going to prevent anything.

Are you past them now or no?

[phaz0rz]

Originally Posted by agent006140

There are some folks who dont have bank account,these days they ask you to keep a minimum balance else there is a monthlly fee,you are limited to x number of free withdrawals per month,NSF is stiff.
they just cash their paycheck and use cash to pay bills,buy grocery

Those aren't the type of people applying for eBay Managed Payments, and eBay knows it.

[phaz0rz]

Originally Posted by Leader2dark

These new requirements are nuts. What are they exactly trying to prevent? Hold the money for 30 days or whatever if you think people are scamming. I don't want them to have a 10-page file on my identity.

They're just trying to
a) stay legal/compliant
b) compete by moving to managed payments
c) be more profitable

Gotta roll with the punches I guess.

[Leader2dark]

Glad I didn't quit my day job. I will sell as long as I can.

[ebaystealth1974]

Originally Posted by phaz0rz

They're just trying to

c) be more profitable

You see my post the other day where they expect to profit TWO BILLION more per year by switching to Adyen? lol

[nickopedia]

I've been reading various posts on the topic of setting up setting up Adyen's Managed Payments. The OP of this thread, Lucynda has already gone through the process.

So far I haven't seen anything other than a request for a bank statement or maybe ID. It's still too early to see how they will handle accounts with higher volume, high risk sales, or disputes/cases/chargebacks.

There are some traditional merchant processors out there (such as Stripe) or a real credit card processor (merchant bank) that will terminate the account with even one complaint. Some processors are more lenient than others. We all know how PayPal rolls, and what they do. I'm hoping to read more positive results here as more sellers start using Adyen more.

eBay's main reason for switching to Managed Payment and transitioning away from PayPal has a lot to do with control over the payments flow, something that Amazon has long been doing. It's not just about saving money, but also having control and oversight over every aspect of the buyer experience.

I see this as positive simply because sellers only need to deal with eBay for everything, even when it comes to buyer problems, disputes, refunds, etc. Right now if PayPal wants to shut your eBay business down, they can. So many sellers had their PayPal's limited/suspended, and now they might have a second chance at reviving those old eBay's they couldn't use before, at least safely.

[Lucynda]

To be honest, I have liked it so far. I'm having some problems giving refunds though.. I'm stilling waiting for checks to come in so I haven't been able to do anything more, but I don't expect any problems since its a legit account.

[nickopedia]

Originally Posted by Lucynda

To be honest, I have liked it so far. I'm having some problems giving refunds though.. I'm stilling waiting for checks to come in so I haven't been able to do anything more, but I don't expect any problems since its a legit account.

Checks? Are you getting paid by check from Adyen?

Have you received any Adyen powered payments yet? If so, I assume they are via ACH into your linked bank account.

Do payments clear right away, or is there a hold period?

[ebaystealth1974]

What's the problem with refunds?

[agent006140]

another problem for Ebay selller is that if buyer loses a dispute on eBay,It can go to Paypal,if he loses on Paypal,he goes to his cc issuer.