An Etsy seller is in a vicious circle after changing bank accounts and trying unsuccessfully to update their account on Etsy with the new information. Unable to get customer service to help with the problem, the seller is desperate as they have no access to their funds and the current bank account is set to close shortly.
"I am having an awful time with Etsy and their new requirement to verify bank accounts through Plaid," the seller told EcommerceBytes. "My situation is that I need to change my current bank account. Etsy's website says I have to verify my current account first. I did that. I will not allow me to change my bank. I only have the ability to verify the current account."
So after verifying the account and being unable to update the information to add the new bank account, Etsy reps told the seller to verify the existing account again.
However, the seller explained, "everytime you make a change to your bank account, Etsy puts a 5 business day hold on your ability to withdraw funds. I am current in that 5 day period, and they want me to verify again, thus extending my ability to access funds from 3 more business days to 8 business days."
The seller wondered if the problem they're having could be related to an Etsy test
it announced in July of a new verification system using a third-party company called Plaid.
"Is this an issue with the roll out of Plaid? Did the developers screw up yet again? I need access to my funds and the only way I can do this is to change my bank account. Is anyone else having issues with the new must verify with Plaid?"
As online marketplaces like Etsy and eBay take over payment processing on behalf of sellers, it's vital they provide adequate customer support. Any suggestions for the seller encountering this issue?