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Bank verification has started for sellers with banks in the United States
Hi all,
As part of our efforts to protect our users, reduce the risk of fraud and account takeover, and to meet evolving legal requirements, Etsy is working to verify American bank accounts on file. This benefits and protects sellers, buyers, and the Etsy marketplace as a whole, by continuing to make Etsy a safe place for buyers and sellers to transact.
Over the next few months, sellers with banks in the US will receive a notification from Etsy to prompt them to verify their account info. When it’s time to verify your account info, you’ll be notified in two ways:
- You’ll get an email from noreply@etsy.com with the subject line “Verify your bank account to keep getting paid.”
- You’ll also see a yellow banner in the “Payment settings” section of your Shop Manager.
After clicking on the link in the banner, you’ll sign into your bank account through a third party service called Plaid. Plaid verifies your account details to ensure your deposits go to the right place.
After researching many ways to verify bank details, we chose Plaid to ensure the verification process is secure. Here’s why:
- Plaid is a leader in the industry and their current security measures are trusted by over 6,000 companies who use their services to safely connect financial accounts
- Plaid's information security program is designed to meet or exceed industry standards and is certified in internationally recognized security standards
You can also get more info about how Plaid keeps your info secure on their site here.
Keep in mind that while Plaid’s secure API allows you to instantly verify your bank account, you can also still verify your information manually by providing an account and routing number to be verified through microdeposits. You can learn more about this in Etsy’s Help Center.
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