No the bank deposits is not the problem, did you try and verify your paypal account via telephone verification?, if yes did you use a real landline number or a voip number?, if you used voip, this method doesn't work, which is one reason paypal would want you to complete address verification by receiving mail at that address.
Also I will reiterate from my personal experience, I have so far opened 10 new paypal accounts and have verified them via bank deposits through various bank accounts and not one of these bank accounts had the exact name that was registered with paypal.
| 
