Paypal Business Verifying By Company Name not Personal Name

[stealthychew]

I've had several PP's Business, not Personal, where you use a Business name but do not enter an EIN - you say it is an individual business - and you name it whatever you want - and you add your name as the account holder.

When PP verifies this Business, it verifies with your personal name - but apparently I was wrong or they changed it. They verify the "business" account now by the business name - even if you do not supply a EIN - instead of your name as the sole indivudual.

which is why the 3 PPs created - none of them had deposits because they were business in order to accept money.

So if you call your PP business account Green Seeds - you cannot get it verified to send money to with your name. So I must have made a mistake thinking I could send money from the PP business account to my bank account - so you have to transfer from a business to an individual in order to deposit?

I called my bank and they said the two deposits were rechecked because they came in the name Green Seeds.

What I don't get is - EB allowed me to use a personal account to accept payments? I thought you had to be a Business account in order to accept EB payments? Because all my EB payments went into my netspend before in my name, for years, not the business name.

[jeffweico]

The problem is your bank does not accept deposits if the names do not match. Search the forums, there are banks that do not require that the names PayPal provides them to match the name on the account.

[jeffweico]

To be clear... PayPal sends the 2 deposits to the bank. Your bank does NOT give the name on the account to PayPal. But they CAN reject the deposits if the names do not match. If you give them a business name like "Green Seeds" then that is the name PayPal will send to the bank with the deposits. If your account is a personal account in your name, such as "John Smith" then THAT is the name the bank will see.

There is no requirement for the PayPal account or the Bank account to be a business account. It all depends on how you sign up.

[vogeltron]

I agree it sounds to me like an issue with your bank.

[stealthychew]

US Bank just accepted two deposits and withdrew them both. I am now verified on a business PP. However, I've had this happen before (with Meta) - where the deposits went through, but the transfers later on did not because of the business name.

I used the search and saw that other people had the two deposits withdrawn by PP right away. Is this random or are the deposits always withdrawn by PP?

[jeffweico]

As far as I know, the deposits are ALWAYS withdrawn. At least in my experience. Sometimes it takes a week or 10 days.

[stealthychew]

Originally Posted by jeffweico

As far as I know, the deposits are ALWAYS withdrawn. At least in my experience. Sometimes it takes a week or 10 days.

It took 2 days for the 2 deposits, but the same day withdrawal will take 10 days? it says pending?

i am almost certain that once I try to deposit any amount, US Bank will send it back and say the names don't match.

Does Savings work okay for transfers?

Originally Posted by soydo

Hello,

Does anyone know if it's possible to just use my personal name as the business name on a new PayPal business account to avoid mismatch problems when transferring money to my personal bank account? Please advice.

Thank you.

it sounds like that's what PP wants you to do. so that would mean only "real" businesses with business accounts and ein's could have a business acct. then HOW IS the common joe selling on ebay - upgrading their personal PP to business and using their "real" name?

[rsot]

US Bank has long been known to be a good stealth bank...

Personal and business bank accounts are interchangeable in PP eye's - both should work as whateverto verify

[GreenBean]

Originally Posted by rsot

Personal and business bank accounts are interchangeable in PP eye's - both should work as whateverto verify

rsot with a new language for stealth

whateverto???????


A thousand kittens screamed again.




There are users on this forum who do not speak/read English as a first language.

Try harder to be clear in what you type

[john456]

Not to worry GB. Google now translates RSOT into english

[rsot]

Nice pic john456

'Whatever to' - its pretty clear in spite of the space.

There are users on this forum who do not speak/read English as a first language.
...Interesting comment GB

[GreenBean]

Not according to the two pms I got, rsot.

I got asked what you mean.

[rsot]

Originally Posted by GreenBean™

Not according to the two pms I got, rsot.

I got asked what you mean.

Sorry that you got the pm's and not I... would have clarified but understood