Online Marketplace Etsy Says U.S. Sellers Must Verify Bank Accounts - U.S News & World Report Money
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"I haven't fully reopened my Etsy shop, because so many of my wonderful customers have been going to my website to support me.
But with this, I may be forced to shut down my Etsy shop permanently," seller Kristi Cassidy said.
By Nivedita Balu and Praveen Paramasivam
(Reuters) -Etsy Inc said on Friday U.
(Reporting by Nivedita Balu and Praveen Paramasivam in Bengaluru; Editing by Vinay Dwivedi)
sellers on its marketplace will either need to self verify their bank accounts or do it through a third-party as it seeks to comply with anti-money laundering and related regulations.
Etsy has also provided the option to self verify bank accounts, but a seller who did not wish to be named said the process was tedious.
"This is so typical of Etsy on any controversial subject but, when it has to do with our finances, it's unacceptable," said Dorothy Domingo, who has been selling functional pottery on Etsy since 2008.
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