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Ecospend Technologies Ltd bank access requested at set up to sell
I have just tried to set up as a private seller and posted my first item, but I am concerned that I went through a process of setting up authorisation for Ecospend Technologies Ltd to access my Bank Account that I provided. As I am only selling, why do they need that access, because I then had to set up separately my bank details again for payments to be made into when items sold? Any help please?
6 comments
jefbe-308
OP3 weeks agoThank you. It seems I might have just done the correct thing then, without understanding what I was doing. I have never set up any arrangements to sell on anything like ebay before and they didn’t make it an easy 'step by step' process. I had to choose to follow the payments link by my own choice without being prompted. But maybe I have just done it correctly and should stop worrying.
*vyolla*
Mentor3 weeks agoEcospend is an open banking provider obtaining identifying/financial information from your bank in order to verify your bank account with a merchant (eBay in this case).
john1297576
Mentor3 weeks ago · EditedNo idea why you have had any dealings with this company, as you only load a UK bank which is acceptable to ebay. That then allows withdrawals to your bank account, and if necessary allows ebay to debit bank account for fees or refunds, if no money in your ebay account.
At least that company is genuine, but do not understand where you would have seen it . I have never heard any comment about it unless it is now part of ebay’s verification procedure.
jefbe-308
OP3 weeks agoThank you. When setting up my first ebay sale, I hadn't been asked to enter my bank details for parments to be paid into, so I looked and saw a link to set up bank payments which lead me through the process of establishing a link with my bank, and then had a text verification OTP message from my bank to confirm allowing EcoSpend to access my account information. Maybe that is to allow ebay to withdraw their initial 0.01 pennies test deposit, and any future refunds to buyers, to verify the payments link? Anyway, having done that, and publishing my sale item with photos, I then saw and followed the link to set up a link to my bank for payments to be received into. So, whilst it is confusing and a bit worrying, it does make some sense. But I had better pho.e EcoSpend to try and find out.
fargvs
Mentor3 weeks agoYou need a verified Selling account and UK Addressed/Based Banking details (not internet/ website) on file in order to send, receive and request payments ---Best use a PC/Laptop to make changes --- can take a few days to verify .>
https://www.ebay.co.uk/help/account/changing-account-settings/changing-account-settings?id=4193
https://www.ebay.co.uk/help/selling/getting-paid/getting-paid-items-youve-sold/payments-hold?id=4816...
fargvs
Mentor3 weeks agoYou need a verified Selling account and UK Addressed/Based Banking details (not internet/ website) on file in order to send, receive and request payments ---Best use a PC/Laptop to make changes --- can take a few days to verify .>
https://www.ebay.co.uk/help/account/changing-account-settings/changing-account-settings?id=4193
https://www.ebay.co.uk/help/selling/getting-paid/getting-paid-items-youve-sold/payments-hold?id=4816...