Another MP and Transferwise (Wise) question...

stoyan88 · #1 05-15-2021

Hey everyone.

Found this forum while browsing for a solution, after being forced to move to this new managed payment thing in eBay.CO.UK.

Ebay doesn't allow me to add my bank account due to it not being a UK one (I don't live in the UK any more, but still sell stuff there due to regular promotions). Saw that most of the people facing the same problem found a solution by using Transferwise (newly named Wise). I don't plan on using any f@-e IDs or stealth accounts, just need to find a way to register for MP and get the money from my sales there.

So here's my main question - does the name on my eBay account need to match that on the bank account? Cause I use a Business Transferwise account and the name used there is of my business. And are there any issues with eBay payments in general if using Transferwise?

Thank you in advance!

rsot · #2 05-15-2021

Welcome to the forum - all the best as you master stealth

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I haven't tried Transferwise so following this thread for other input

Aguero · #3 05-15-2021

Quote:

Originally Posted by stoyan88

Hey everyone.

Found this forum while browsing for a solution, after being forced to move to this new managed payment thing in eBay.CO.UK.

Ebay doesn't allow me to add my bank account due to it not being a UK one (I don't live in the UK any more, but still sell stuff there due to regular promotions). Saw that most of the people facing the same problem found a solution by using Transferwise (newly named Wise). I don't plan on using any f@-e IDs or stealth accounts, just need to find a way to register for MP and get the money from my sales there.

So here's my main question - does the name on my eBay account need to match that on the bank account? Cause I use a Business Transferwise account and the name used there is of my business. And are there any issues with eBay payments in general if using Transferwise?

Thank you in advance!

A bit strange that there isn't an option to add other country bank account.

You can try to add your business Wise bank account or open a personal Wise and try with it. If both don't work you still will be able to add another bank account.

Wise accepts PayPal mismatch names transfers. About MP, I don't know if anybody knows that for sure.

Will be happy to hear more MP knowledgeable people.

Similar thread: https://www.aspkin.com/forums/ebay-m...nsferwise.html

Pandoras_box · #4 05-15-2021

Quote:

Originally Posted by Aguero

A bit strange that there isn't an option to add other country bank account.

You can try to add your business Wise bank account or open a personal Wise and try with it. If both don't work you still will be able to add another bank account.

Wise accepts PayPal mismatch names transfers. About MP, I don't know if anybody knows that for sure.

Will be happy to hear more MP knowledgeable people.

Similar thread: https://www.aspkin.com/forums/ebay-m...nsferwise.html

Not strange at all. eBay has made it clear from the jump that you can live in country A, sell in country B but you'd be paid in your country of residence which is country A in OP's case. Hence no need for a foreign bank account with MP. There are exceptions but he'd need to show cause.

Op simply needs to domicile his eBay to match his country of residence then list on eBay uk as normal and get paid locally.

Aguero · #5 05-15-2021

Quote:

Originally Posted by Pandoras_box

Not strange at all. eBay has made it clear from the jump that you can live in country A, sell in country B but you'd be paid in your country of residence which is country A in OP's case. Hence no need for a foreign bank account with MP. There are exceptions but he'd need to show cause.

Op simply needs to domicile his eBay to match his country of residence then list on eBay uk as normal and get paid locally.

Living in Bulgaria and selling on eBay.com, .de, co.uk, .fr I would need a Bulgarian bank account ?

Pandoras_box · #6 05-15-2021

Yes, just a Bulgarian bank will do.

Katrina · #7 05-15-2021

Transferwise IBAN is Belgian. But I guess you can use it on ebay account registered in Bulgaria too ��
Any EU country, any EU IBAN

stoyan88 · #8 05-15-2021

Thanks for all the replies.

Here's some additional info.

1. Ebay.CO.UK doesn't allow adding any other bank, besides an UK one. They actually require a Sort code and an account number, rather than an IBAN, which is not a thing in EU countries (like mine). So no - you cannot add a Bulgarian IBAN, no matter which country of residence you have set up in your account.

2. Till now it was possible to just register at ebay.co.uk, add a random UK address and sell freely, same as an UK citizen (also benefit from ebay.co.uk listing promos limited to UK sellers only). With the implementation of MP you are forced to migrate to that system and you require a UK bank account. If you don't have one, there's basically no way to sell there any more.

Transferwise pretty much gives you all the bank details you need if you open a GBP balance, question is if it's usable and in my case particularly - would I be able to use my business Transferwise account and connect it to the eBay MP (as it shows my name there and the business name on Transferwise doesn't match it), or I need to create a personal Transferwise account and try that instead?

Aguero · #9 05-15-2021

Quote:

Originally Posted by stoyan88

Transferwise pretty much gives you all the bank details you need if you open a GBP balance, question is if it's usable and in my case particularly - would I be able to use my business Transferwise account and connect it to the eBay MP (as it shows my name there and the business name on Transferwise doesn't match it), or I need to create a personal Transferwise account and try that instead?

Create a personal Wise account and attach it to MP, imo. You have a legit business, no stealth info etc.

stoyan88 · #10 05-28-2021

Up - has anyone actually use Transferwise with Managed Payments?

Got a bit scared after talking to an eBay representative saying that even if it works at the beginning, there's a high risk of getting your bank account verified at a later stage and if that happens, eBay would know it's an online bank account, which will lead to funds getting blocked until a real one has been added. If that happens and you don't have a real bank account to add in a certain time frame, this might lead to the eBay account getting fully suspended... at least that's what the agent said.