ebay MP and IBAN name check in EU

[VeryVERO]

Here's some thoughts for food:
I bought an old ebay account of 2008 and went to register for selling
ebay asked me for Name, Address and IBAN (i live in EU)
I entered my new name and new address
next page you enter your IBAN which has your name prefilled (grayed out). You can change your name from the previous page where you input name and address.
The IBAN field at it's start has a grayed 2 digits country code but you can go ahead and put an IBAN with different country code anyways.
Next they send 1 micro deposit.
After the micro deposit landed in my Wise Bank Acc. ebay registered me as a seller.
They never asked me to verify the amount of micro dep. (like Paypal does)

Here are some thoughts:
1. They send this micro deposit to check something.
IMO they want to check whether the IBAN exists or not (provided the IBAN syntax is correct) because if it doesnt exist it will bounce back.
When you send money to another account you don't know when they arrive and who's the beneficiary, you only rely on what you were told as of who the beneficiary is. Your Bank can't verify whether that was true or not.
2. ebay also can't verify if the name match because if they could then they wouldn't have to sent the microdep.
3. They send the micro dep and depend on the Bank receiving the microdep to check for a name mismatch and in such a case to bounce the transfer back.
But most banks wont bother with that and will gladly accept the money.
I have already transferred money to IBANs with entirely different names or no names at all without any problem.
4. Now, when you send money from your bank acc. the recipient gets your name, but you dont have to do it like this with ebay because you can use a card to pay fees and money owed.

5. ebay don't even ask you what was the amount of the micro dep to verify you have access to that account.
Paypal for instance sends 2 micro deps of different amounts and you need to input those numbers so they can verify that at least you have access to that account but still neither Paypal can verify if the IBAN is in your name.

If all the above are valid then ebay is barking but not biting (the hands that feeds it)

Just saying....

[murdered_by_ebay]

if they send one deposit you do not verify , if they send two you do

barking and biting is meaningless in your concept because all this relates to bank accounts which are the domain of adyen

ebay suspend new sellers without relation to bank accounts , except in cases where a high risk financial company like wise , payoneer etc. is used

[agent006140]

There is no need to send micro deposit to find out if the IBAN number is valid or not,it should be able to verify when you enter the IBAN number online.
And why should Ebay be barking or biting>It is a sales venue and it expects all sellers and buyers to comply with its rules

[VeryVERO]

Originally Posted by agent006140

There is no need to send micro deposit to find out if the IBAN number is valid or not,it should be able to verify when you enter the IBAN number online.
And why should Ebay be barking or biting>It is a sales venue and it expects all sellers and buyers to comply with its rules

You can check the validity of an IBAN online but you can not check whether it exists or not nor you can check whos the owner.
Those apps check if an IBAN number complies with the IBAN regulation agreed between Banks. Meaning it has to have the 2 digits of the country code in the start, the bank acc. number and 2 check digits (calculated using MOD-97-10)
Have in mind that the Bank Account (the one that your Bank gives you and then it's used to get the IBAN) has already 2 check digits (calculated with different methods because that one started decades ago and each Bank did it on its own)
So there are 4 check digits in total in an IBAN.
Check digits derive by calculating the rest of the numbers. They are important because that way if you miss type the number it's pretty certain that this account won't be valid so the money wont be sent to another account. 2 check digits makes it safer than 1 check digit.
Tracking numbers have a check digit too. They use 1 check digit which is enough for that application.

When an IBAN is valid (meaning it's check digits check out) that doesn't mean that that IBAN really exists and has been assigned to a person. It may be in the pool of reserved IBANs list of a Bank ready to be given when needed or it may not exist at all.

So when you give an IBAN to ebay they know if it's valid but they don't know if it exists and who's the owner. They send you the micro dep to check if it exists and hope that the bank will refuse if the name don't match. But most banks wont refuse a transfer if the name don't match. You can try this yourself if you want by sending money to another account and either leaving the name empty or typing a different name and see what happens. In my tests it went through all major online banks and all of my local.

[VeryVERO]

[QUOTE=murdered_by_ebay;1256172]if they send one deposit you do not verify , if they send two you do

What do you mean by that? It shows i'm verified. It doesnt ask for anything and my listings are live.

[agent006140]

thanks for the explanation,very informative

[murdered_by_ebay]

they send and deduct one deposit , you do not need to take any action here

[agent006140]

[quote=VeryVERO;1256178]

Originally Posted by murdered_by_ebay

if they send one deposit you do not verify , if they send two you do

What do you mean by that? It shows i'm verified. It doesnt ask for anything and my listings are live.

what she means is that they sent one cent and take away one cent,result is zero.

[VeryVERO]

[quote=agent006140;1256181]

Originally Posted by VeryVERO

what she means is that they sent one cent and take away one cent,result is zero.

In order to take away the one cent i'd have to agree with the mandate which i haven't and therefore they wont be able to do it. Because my Bank will need me to agree with ebay mandate in order to release funds to them. Even if you agree with ebay terms for their charges I still will need to do it from Wise app. and until then they can't. So far Wise haven't asked me to agree with anything, i just got the €0.01 which is still in my Acc.
Previously I have put a debit card for expenses and they can take it from there if they want to. But not from my IBAN (unless i agree with their mandate).

[marianico]

I was suspended 48 hours after placing the microdeposits. I think they can see your name when you collect the microdeposits again.

[rsot]

Originally Posted by marianico

I was suspended 48 hours after placing the microdeposits. I think they can see your name when you collect the microdeposits again.

Yes they can see the name when the withdraw the microdeposits - it is possibly that the name suspended you but usually, more than just that needed on their ended...I could be wrong these days though with more stern measures seeming to be in place.

[marianico]

Originally Posted by rsot

Yes they can see the name when the withdraw the microdeposits - it is possibly that the name suspended you but usually, more than just that needed on their ended...I could be wrong these days though with more stern measures seeming to be in place.

I have appealed and they are asking me to send the documentation again... I don't understand anything... and the link doesn't work because it's suspended.

[gushi]

It seems that it depends where you are from and where is your bank located. I do not have any single new account created where they want me to verify it with microdeposits - only with bank statement. And I do agree, that these platforms do not see the name of the owner of the bank account or the credit card owner also.

[rsot]

Originally Posted by marianico

I have appealed and they are asking me to send the documentation again... I don't understand anything... and the link doesn't work because it's suspended.

Sounds you will have to reach out via phone or other contact to them and hope for a knowledgeable and caring customer service rep

[marianico]

Using Wise, can they see your name when they withdraw money? I'm not sure.

[rsot]

Originally Posted by marianico

Using Wise, can they see your name when they withdraw money? I'm not sure.

Good question - they're not a really a bank - someone would have to check what receipt is generated to the receiver of funds from Wise hmm

[philby]

I did not know they accepted wise with MP on ebay - is this a EU only thing?