Etsy bank account verification through PLAID and whether it shares name

[Blaseblase]

Hi, currently making a new Etsy account.

I have:

New name
New SSN (used friend who consented)
New IP
New Address

etc, etc.

HOWEVER, when adding my bank Etsy uses a third party called "Plaid" and looking on their site they say:

"Account holder information: name, address, phone number, and email address, as held by your bank or other financial institution;"
"Please note that the data collected from your financial accounts may include information from all your accounts (e.g., checking, savings, and credit card) accessible through a single set of account credentials. "
"The types of data that Plaid accesses and shares with your apps depend on the particular connections you’ve established, the specific Plaid services used to power your connected apps, and the information made available by your financial institution. "

sounds like Etsy CAN see the name on the bank account since the third party sends that information to them.

[Duab]

Originally Posted by Blaseblase

Hi, currently making a new Etsy account.

I have:

New name
New SSN (used friend who consented)
New IP
New Address

etc, etc.

HOWEVER, when adding my bank Etsy uses a third party called "Plaid" and looking on their site they say:

"Account holder information: name, address, phone number, and email address, as held by your bank or other financial institution;"
"Please note that the data collected from your financial accounts may include information from all your accounts (e.g., checking, savings, and credit card) accessible through a single set of account credentials. "
"The types of data that Plaid accesses and shares with your apps depend on the particular connections you’ve established, the specific Plaid services used to power your connected apps, and the information made available by your financial institution. "

sounds like Etsy CAN see the name on the bank account since the third party sends that information to them.

New update, I doubt they see 100% of all banks data, but possibly some of them for sure.

[Blaseblase]

Originally Posted by Duab

New update, I doubt they see 100% of all banks data, but possibly some of them for sure.

I was reading somewhere that if you use the instant verification where you log into the bank through Plaid it shares information like name. But using the manual method where they deposit money into your bank and you verify the amounts doesn't.

Who knows, I went with manual so I guess we'll see how it goes.

[rsot]

Manual method can still share your name when deposits are withdrawn back - just fyi

[aaa7z5]

Originally Posted by Blaseblase

Hi, currently making a new Etsy account.

sounds like Etsy CAN see the name on the bank account since the third party sends that information to them.

Yup. Totally true.

Yet, I have successfully kept an account in good standing while verified by another SSN, but my own bank. I had verified my SSN first but then changed it all to valid SSN data of a friend, same bank, CC in my name... its an old established account though. *shrug*


Been suspended twice, once for a chargeback, the other time because a refund wasn't able to be charged to my CC, contacted support both times and was un-suspended.

Oh, and Im selling mostly non-handmade stuff, either.

Am I lucky, or anyone have this kind of **** happen and get to keep the account?


Edit:

Originally Posted by rsot

Manual method can still share your name when deposits are withdrawn back - just fyi

How so? Any fees are charged to the CC you have on file.

[Jewlz]

Any company using Plaid to verify details means they should match 100%.

[rsot]

Originally Posted by Jewlz

Any company using Plaid to verify details means they should match 100%.

Go on with the Plaid

[SaiJin]

Originally Posted by Blaseblase

I was reading somewhere that if you use the instant verification where you log into the bank through Plaid it shares information like name. But using the manual method where they deposit money into your bank and you verify the amounts doesn't.

Who knows, I went with manual so I guess we'll see how it goes.

This here.

This is the reason why I would never login outside of my own bank portal.

I'll always do a manual

[rsot]

Originally Posted by aaa7z5

How so? Any fees are charged to the CC you have on file.

If fees are only charged to CC and not withdrawn from bank then, true, the name would not be shared

[ebaysuck]

I just got a message on my old etsy account that I have to verify that I own the bank account attached to Etsy account, they want me to verify through Plaid. Name on Etsy account doesn't match name on bank account. any workarounds for this new thing ?
Thanks

[jmrseidel]

Originally Posted by ebaysuck

I just got a message on my old etsy account that I have to verify that I own the bank account attached to Etsy account, they want me to verify through Plaid. Name on Etsy account doesn't match name on bank account. any workarounds for this new thing ?
Thanks

I just received the same message this morning. I have read to do the manual deposits instead of logging into my bank account but my concern is they will see my name on my back account when they withdraw the manual deposit. Does anybody know if this is true? Has anybody verified a mismatched name account with plaid?

[jdtodd]

I used a business bank account so the name wouldn't match anyways and it was fine

[ebaysuck]

can anyone else share their experience with this issue ? I just got 2 more etsy accounts flagged for it

[carthaguis]

Same problem here. Apparently, we only have 2 options:
* Manual Verification ( Personal account)
* Using Business Payoneer Account

[rsot]

Originally Posted by jdtodd

I used a business bank account so the name wouldn't match anyways and it was fine

Good experience contribution

[Automasters]

I had only two out of four accounts flagged for this - it seems only accounts which have sold a certain amount or quantity are being selected for this, other slower accounts are not required to pass it. Used manual verification for one and passed, second is in progress. Could be Etsys way of purging whatever stealth accounts may be left.

[rsot]

Originally Posted by Automasters

Could be Etsys way of purging whatever stealth accounts may be left.

Usually there's a specific reason - not just random purging - some security flag was tripped

[ebaysuck]

Originally Posted by Automasters

I had only two out of four accounts flagged for this - it seems only accounts which have sold a certain amount or quantity are being selected for this, other slower accounts are not required to pass it. Used manual verification for one and passed, second is in progress. Could be Etsys way of purging whatever stealth accounts may be left.

So manual verification is when Etsy makes 2 small deposits and you enter the numbers? Was the name on etsy account and bank account different?
Thanks

[ihateetsy]

Hello, can someone share their recent experience with the either the Plaid instant or manual verification process? Can you let me know which method worked for you? The name on my bank account does not match the info I have entered in on Etsy.

[SaiJin]

I'd do a manual...

[ihateetsy]

Update, I did the manual verification and when they asked for name on the bank account I just used my business name on Etsy. I got the 2 small deposits within about 12 hours and I just completed the verification process. All seems to be okay for now, not sure if something will happen down the line but for now the message to verify my account is gone. So it seems like when you do manual verification your business name DO NOT need to match the name on your bank account.

[jdtodd]

It looks like they are doing this in waves by bank type. All of my accounts that uses the same bank are getting the emails on the same day. Pretty sure for manual they don't check names. Or if it doesn't work a business account is acceptable