I had a few slabs that are worth $600-$700. I scanned them in the PSA app and the offer was $700-$750. So I sent to the PSA vault. By the time they arrived, their offer went away completely. So I listed them on PSA ebay for $1,500 for fun, just to see if this would drive an offer from PSA. BTW - there are active buy it nows on ebay for $700 from a different consigner.
To my surprise, someone bought both copies of the slab for $1,500 each. I was paid out. Then I see the same cert number sell for $2,000 and $600 the same day on PSA’s ebay account. Cardladder price went to $2,000. Days later, those sales were removed from the sales history, my payout was paid, no problem, right?
Well now I am locked out of my Stripe account, maybe due to suspicion of money laundering. I had nothing to do with the person that bought these cards and “resold” them for more and less than originally paid. I found on Reddit that there was a massive money laundering scheme where people were paying $2k for $500 cards. Not sure how that works though, it’s not like they are burning cash and turning it into digital money. What gives?
A lot of us are locked out right now. You’re not alone. At least pending processing card transactions are starting to finish but stripe is still frozen and I’ve already done the identity verification stuff. Had to submit id and a selfie. Link is in your email if it was required.
Thank you for this. I’ve been locked out of my account for almost 2 weeks now and I’ve been wondering why. I just looked up a sale of mine on eBay from my PSA account. Beginning of the year I sold a low pop PSA 10 WOTC Holo for $2500. It had been listed for over a year. I just checked recent solds and saw the exact card I sold sell for less than half on the same day I sold it while my sold listing appears to have been removed from eBay. I was paid out just fine. Someone’s found a way to abuse the system PSA has set up with eBay. I also completed the ID Verification through stripe so hopefully things are sorted out soon. Been quite annoying to not be able to create submissions, check existing submissions, and not access the vault.
I did not get explicit statement of why my account is locked down for payments. I uploaded my ID 5 days ago and still see “PSA paused payments on your account”
It’d odd PSA/Stripe are asking for KYC now, coming up on a year of the partnership. Seems like the money laundering going on in January kicked off the KYC.
there is def a thing with psa vault stuff selling for significantly above “market” and its been going on for at least a few months its only specific cards tho i had always assumed its just some nonsense for powerpack inventory
The strange sales issues and the lockouts are unrelated IMO.
I also had quite a strange sale earlier in the year, but it was paid for and Stripe sent the money to my bank account smoothly. My Indonesian Ultraball Pikachu sold for $2799 and was resold immediately the same day for $1600, same exact cert.
I called PSA as well as emailed them today. Over the phone they said they were having issues with their stripe integration after stripe recently changed their requirements on KYC. I was also told there was no issue with my account and that they were simply just making their way through the massive deluge of verifications. I reached out to Stripe support as well, and got the same story.
its only specific cards tho i had always assumed its just some nonsense for powerpack inventory
