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Old 11-06-2023
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Default Savings accounts?

Is there any way of telling in advance of opening a savings account if the ebay microdeposit check will work? I read on these forums that some savings accounts were OK but then someone mentioned Direct Debits being a factor. For ebay to pay into a Savings account does the account need to be able to handle Direct Debits?

I have seen Savings account advertised that accept online deposits but they don't state if there are conditions on what types of deposits are acceptable.
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Old 11-06-2023
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Default Re: Savings accounts?

It's better if you use a checking account anyways. Specially when you're using multiple accounts.
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Old 11-08-2023
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Default Re: Savings accounts?

Quote:
Originally Posted by Duke View Post
Is there any way of telling in advance of opening a savings account if the ebay microdeposit check will work? I read on these forums that some savings accounts were OK but then someone mentioned Direct Debits being a factor. For ebay to pay into a Savings account does the account need to be able to handle Direct Debits?

I have seen Savings account advertised that accept online deposits but they don't state if there are conditions on what types of deposits are acceptable.
Savings accounts are fine to use.

Just donít let eBay use the DD and it wonít be an issue
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Old 11-08-2023
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Default Re: Savings accounts?

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Originally Posted by JamesNorth101 View Post
Just donít let eBay use the DD and it wonít be an issue
How do I not let ebay use the DD if asked to add my bank account so they can verify it?

As I understand it the microdeposit is done by way of DD.
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Old 11-08-2023
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Default Re: Savings accounts?

When they ask for the bank details to look at them through your bank login indicate that your bank is not in the list, you can manually enter the details, they still have to do the microdeposit to verify the payments will go through. there is no way around it.
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Old 11-09-2023
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Default Re: Savings accounts?

Paypal and AMZN do not care if it is checking or saving,at least in USA,why should UK be different?
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Old 11-09-2023
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Default Re: Savings accounts?

Quote:
Originally Posted by Duke View Post
How do I not let ebay use the DD if asked to add my bank account so they can verify it?

As I understand it the microdeposit is done by way of DD.
You just make sure they don't try to draw funds from the account for say a refund
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Old 11-09-2023
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Default Re: Savings accounts?

Quote:
Originally Posted by JamesNorth101 View Post
You just make sure they don't try to draw funds from the account for say a refund
right on - plus savings accounts do tend to have fees on multiple withdrawals so be careful of repeated withdrawals per month - if your accounts have this aspect at play...
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Old 11-09-2023
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Default Re: Savings accounts?

Quote:
Originally Posted by degsey69 View Post
When they ask for the bank details to look at them through your bank login indicate that your bank is not in the list, you can manually enter the details, they still have to do the microdeposit to verify the payments will go through. there is no way around it.
Thanks for this and everyone else for your replies.

Yes, I remember the manual account entry from being on ebay a couple of years back when they introduced manged payments and before I got suspended.

Lots of great advice. I will make an appointment tomorrow to open a savings account.
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