Sellers who had just suffered waves of anxiety over a new verification requirement got a shock today when Etsy notified them their accounts were not verified and discovered they were unable to activate a button to re-verify their accounts, leaving their funds in limbo.
A seller wrote to EcommerceBytes this evening: “After we VERIFIED our bank accounts weeks ago with “Plaid”. After getting DEPOSITS for WEEKS. Tons of us just got notice our Bank Acct is not Authorized. (see Chats) The Re-Do Button is NOT working. Etsy is HOLDING OUR MONEY. Please help!”
The seller linked to a thread on the Etsy discussion boards titled, “Plaid Told Etsy Unable to verify my bank account”:
“I did the whole Plaid nonsense about a week ago and linked my bank directly to Etsy (kicking and screaming mind you) and just got an email telling me that Plaid was unable to verify the bank info and to log in and fix it.
“I log in to fix it and the box won’t let me open it to “re-enter bank details” to start the process over. You click and it never opens the whatever to let me re-enter. I’m going to lose my mind if this prevents me from getting my weekly deposits when we’ve done nothing wrong and there’s no issues with my bank account. Anyone experiencing this? I’m so annoyed.”
Etsy posted an announcement on the Technical Issues board to say the company was investigating the issue:
[INVESTIGATING] “We couldn’t verify your bank account information” email sent to verified Sellers
There’s a team looking into what caused some Sellers who have already verified their bank accounts to receive an email saying they were not verified. Once I’ve got an update from the team, I’ll add it to this thread.
Sellers had been upset about the new requirement last month because the vendor Etsy selected to aid in the verification process, Plaid, required sellers to enter the password of their bank account, which many felt was an unsafe practice.