Verified by Plaid, then I changed my bank password and now no longer verified?

[#1]

Any ideas on what is going on?

August 25: I did instant verification using Plaid. I got a message on my dashboard that I had been verified.

August 31: I had a small balance to be deposited, so I waited the required five days and then requested it.  Received the deposit later that day. Then, I went to delete any connection between my account and Plaid with my bank. I changed my bank account password. 

September 2: I get a message that Plaid couldn't verify my account.

I'm not sure what is going on. I thought once my account was verified that I could change my banking password for security.

[SeasideRoseCreations]

They won't "step up".

This isn't the first financial episode where there are issues.  They never acknowledge here in the forums or give out further info.

It's every man for himself.

[leinweberstudio]

None of this is surprising, not in the least.

[beachmix]

This information is exactly what I wanted to know. I'm letting my next deposit go through because it's larger than usual. Then I'm severing the link to Plaid, changing my password.

I have 2 shops. Verified in my other shop. Did not see a notification in this shop that I needed to verify my account. They are both linked to the same account. 

This is supposed to be some sort of prevention of money laundering. Don't you need access to the account even if you are using it for exchanging money? Isn't usual large sums of money? If you saw my deposits. If I was moving money for others, they don't have very much to move.

[leilahamaya]

so i talked to etsy, managed to get quick response through chat, and i believe etsy will sort it out for me, as they could see i was verified the first time. they said they had not yet seen this issue, i sent them a screenshot, so idk. maybe this isnt happening a lot, or people arent changing their passwords. it seems too consequential though to be glitch that happened to just me and the OP.

i think my issue will be fixed though without having to re verify. if not i will stick with the manual method though if i ever have to deal with plaid again.

[HangARibbonOnTheMoon · Accepted solution]

UPDATE: Today I received the two small deposits (which were also withdrawn today) from Etsy into my bank account. I was able to enter those deposits on my Payment Settings page and now have the message "Your bank account has been connected via Plaid" on the top of that page. I also have a message that I will have to wait three to five days for a deposit. I'll let you know how that goes.

My recommendations so far for those experiencing this issue or wanting to prevent it:

1. Don't use instant verification with Plaid!

2. If your previously verified account gets unverified after changing your banking password, contact Etsy help right away.

[HangARibbonOnTheMoon]

The above post nested wrong. Sorry ; )

[BagmakerSupply]

@MysticMare: Every eMail from Etsy support will have a link something like "I Still Need Help". Click on that link in each reply from Etsy (or actually reply stating that you still need help) to keep the report alive. You may have to do this innumerable times, before anything is done but do not give up. DO NOT open a new issue or contact Etsy multiple times about the same issue (doing so closes the one you already opened and puts the new one on the bottom of the pile).

[PatternsFromThePast]

StitchedbyHand, I also had the problem, Plaid/Etsy and 5 days passed and the funds still weren't in my account.  

I did the recommendation - Etsy Call Back spoke to a representative and they forwarded the issue to the Engineers.  Today I have my funds available.  

[StitchedByHand]

How?  Did you go through help?  I have been looking for weeks for a way to contact someone.

[PatternsFromThePast]

Try this: 

https://help.etsy.com/hc/en-us/requests?segment=selling

[PatternsFromThePast]

I don't have a phone number but did do the call back which they returned my call in about 15 minutes:

For call backs you can go through your Dashboard>Community & Help>Contact Us>Selling on Etsy>Deposits>I Still Need Help>... Call backs are 7a.m. to 9pm eastern time.

[HangARibbonOnTheMoon · Accepted solution]

FINAL UPDATE:

After waiting five business days, my funds from Etsy were deposited into my bank account.

I encourage everyone to use manual registration with Plaid in the future!

Thanks to everyone who offered help and support : )

[simpletreasures55]

I have been on etsy for many years and was never asked for this info.  I did not finish verification

when they asked for my password.  That was a red flag for me.  Anyone else uneasy with this process.

[ZehOriginalArt]

@simpletreasures55 

Do not give Plaid your username and password. Look for the Manual option and use that instead. For that, you input your bank routing number and account number and wait for one or two small deposits as we have done in the past for bank account verification.

[Butterfield8Boutique]

Yes, I am outraged and concerned about this very questionable process.

[UneekDollDesigns]

Yes- I am uneasy about it- and I refuse to comply...Etsy is not explaining enough what Plaid is- they want us to assume we can trust them, and quite frankly I don't...why must we verify our account info when we already did that when we opened up a shop? and who pays for the Plaid company to verify? Etsy? I doubt it...Bottom line for me is I don't trust this whole thing and find it questionable

[BagmakerSupply]

@simpletreasures55  :  Absolutely agree with you. Do manual verification if you can.

[BagmakerSupply]

We got the verify your bank account eMail today. Don't know if it is because of the bank we use, the moon being in the correct alignment with the sun, or some eCommerce deity looking out for us, but we did the manual verification and in less than 12 hours we were verified.

[leilahamaya]

well i still dont have my situation totally resolved, but i get my payouts as normally, so my account has always been connected to the same bank account. i've been back and forth with support, getting different answers or no answers, just copy and paste stuff about how i can trust plaid and the email, or whatever. i will just wait it out and see if its ok. apparently they are working on it, the issue with verified accounts becoming unverfied.

apparently i am part of the group that got "etsy cannot verify your account" emails erroneously, and then if i had actually tried to re enter my bank details, the button would not work and would not let me enter anything.

this all makes me wonder ....if that problem is caused by people who did the instant verification, and then changed their passwords. is that what this group is? and has anyone made the connection?

because it seemed to me that changing my password was the cause of getting the email that said it couldnt verify my account, after it had been verified a week and a half before. like plaid went back for their easy (illegal and violating) access to my account, couldnt get in because i changed the password, and that triggered the you are no longer verified email. but since my account had already been verified and its also the same account i have used for many years...that caused the glitch.

ah idk. all i know is i should not have to bother with any of this, and i do not want to verify it again.

[ZehOriginalArt]

@leilahamaya 

It has crossed my mind that the change of password caused this issue for people whose bank does not allow Plaid to set itself up as an outside app in a person's bank account. Chase bank is one example.

When someone gives Plaid their username and password, they are giving Plaid authorization to access their account as they wish or as needed. If the bank accepts Plaid, then Plaid will go in and change the settings to allow it 24/7 access as a connected app. This is how Plaid works. Many people outside of Etsy use it as a "easier" way to transfer funds and do other financially related transactions.

So if you give them your password, you are essentially saying "I want you to be in my account". They are actually not doing anything wrong. You gave permission.

If the bank does not allow Plaid and Plaid cannot access the account except through the password because it was changed, they cannot do what was requested of them and so they can no longer verify the account at least once per day as it seems they are supposed to do with the Instant method.

What is wrong, in my opinion, is that Etsy does not make sellers aware of this. Instead they "recommend" the instant method without full clarity about what that means. They do link to Plaid's policies, but that is not clear enough and many will not go through them all let alone read them.  They trust Etsy to give them the best recommendation.

People who used Instant and whose banks allow Plaid have reported that in their bank settings, Plaid showed as a connected app which they had to disable to get them out. One seller's bank informed her that an outside source was accessing her account several times a day. Again, this is not Plaid's fault: the seller gave them permission to do this according to Plaid's policies.

Those who think simply changing the password will keep Plaid out may be wrong. If their bank allows Plaid, Plaid will not need the password any longer since it is connected internally. Those sellers need to check their account settings to be sure it is not installed.

[leilahamaya]

well i disagree that plaid has not done anything "wrong". i do see where you are coming from, and that i believe is their sneaky loophole, and the way they circumnavigate around privacy violation laws, but i cannot say that is not also wrong. they are doing the same thing wrong as what etsy is doing -- not making it 100% crystal clear, in simple language a child could understand, what is going on here.

and further they try to con you with -- its for instant verification - implication is its a one time thing. the actuality of it - its a constant connected app allowed to snoop your personal info, in violation of privacy laws.

[leilahamaya]

well i was stupid for doing the instant verification, i shouldve been paying more attention. i got snowed it by this one time thing sort of presentation -- not knowing i was supposedly signing on for an app to be able to access my account indefinitely for no justifiable reason.

sheer laziness on my part, but i dont think thats my fault.  i just wanted to get it verified and not have to spend time chasing down the manual or whatever else, not have my money held up for five days.

because it is presented like its a very limited use, one time thing. so i know this is speculation, but atm i believe thats why the glitch. plaid couldnt get access to the peoples account who changed their password, and have banks that reject anonymous (hidden?) apps that continually access an account for no reason...this is what i really think.

i wonder if those who are in the glitched out group are also those who changed their passwords after instant.

[DreamGreatDreams]

i’m curoous about this too. i’ve finally gotten the dreaded email and banner. sigh… as if there aren’t enough challenges in life right now. i’m going to wait for my deposit from friday-sunday sales transfer over then go through the plaid manual verification. i am dreading this so much…

[leilahamaya]

because for me it seemed a very direct cause and trigger -- i changed my password on saturday and monday monring - first thing when banks open up - i get the etsy email falsely saying -- we cant verify your account. like plaid did their sneaky access and tried the account, couldnt get through - and triggered the false "we cant verify your account" due to that.

yeah i could be wrong here, but i think this is it. i would be curious though if others who are experienced the glitch were the people who changed passwords with their bank, cause the plaid app to automatically start a chain reaction that led to them getting the etsy cant verify emails even though they were already verified.

as far as i know i am already verified and wont have to do it again, even though i got the email  and still have it on my payment billing settings, that i am supposed to "reenter" my details because plaid couldnt verify me. but i am hoping it just works itself out.

etsy maybe needs an astrologer on board! ha ok maybe not. but they always do screwy stuff when mercury goes retrograde. this was a big one and with just a little woo woo astrology advice, even the really surface like commercial astrology stuff...wouldve told them to wait a few weeks until mercury goes direct. but they have a habit of doing this, this is like the third time i noticed that etsy seems to be adversely affected by mercury retrogrades and always rolls out weird stuff during the retrograde.

i will have to look it up, but i think mercury is about to go direct. well sorry tangential -but i just realized that.

[NanaLetha]

@bitsyshandmade  That hold is what happens when you use the manual method. I used instant and there was no hold.