Any eBay managed payments pros?

ChewliesGum

I have searched on eBay message boards and google results and still am getting conflicting answers.

Can managed payments use a savings account or does it need to be checking? Everywhere I look I get a different answer.

RufussCkingston

Well I guess you can try whatever you want, but the ePay page says Checking only....

https://www.ebay.com/help/selling/fees-credits-invoices/updating-your-bank-account-details?id=4796

Payouts

We initiate payouts for your recent transactions either daily or weekly depending on the payout schedule you chose, and you'll receive the funds in your linked checking account.

From the Payments tab - opens in new window or tab in Seller Hub, or Payments - opens in new window or tab in My eBay, you can see which checking account is currently set up to receive your funds. If your checking account details are out of date, or if you want to receive your payouts to a different account, you need to update your details.

You can update your checking account for payouts in Seller Hub. Here's how:

Go to Payments - opens in new window or tab in Seller Hub.
Select Edit next to Payout method.
Make your changes and select Update bank account.

You can also update your checking account for payouts in My eBay. Here's how:

Go to Payments - opens in new window or tab in your My eBay.
Select Edit under your bank account labeled Used for payouts.
Make your changes and select Update bank account.

It usually takes 2 business days for changes to be confirmed and payouts to be enabled for your new bank account.

Tip
Your linked bank account must be a personal or business checking account. It can't be a savings account.

ringer

I think the problem with using a savings account is that with as many credits eBay will make to the account, it would likely get flagged by the FBI. checking accounts have a higher threshold for number of transactions before getting flagged.

swish54

I tried using a savings account but it wouldn't work. Ebay made me select a pre-identified account from a drop down box and one of them was a savings account. I selected it thinking it was ok since it was on ebays drop down menu. Nowhere was I able to manually enter an account number. After a few days, I realized I was getting a charge by my bank because they had to manually accept the transfer instead of the system automatically doing it in the middle of the night. The bank told me it was because ebay was sending it over as a checking account, but it was really a savings account and to talk to ebay and see if they could code it differently, but of course ebay was clueless and said to talk to my bank. I didn't want ebay's hand in my main accounts (checking or otherwise), so I just set up a separate checking account just for ebay. Once the money goes in there, I just transfer it to the actual account I want it in.