Re: I Just Dont "Get it." Please Explain: Bank Acct in Legal Name? Quote:
Originally Posted by livingdaylight Sorry, to ask boring noob questions. How is it that PayPal can't see the name on my bank account?
I'm not understanding how the banking side of the equation are done
Thanks for your patience | With automation, when PayPal sends money to your bank, they SEND information only. Except for an electronic confirmation that the deposit was received, they don't get any further information.
PayPal CAN sometimes see the name on your bank account if you try to fund your PayPal account from your bank, because in this case it is your BANK that is transmitting the account holder information, which MAY include the account holder name.
In most countries, banks will NOT give your information out, except to law enforcement or in response to a court order. They take privacy VERY seriously.
But that only applies to businesses and other individuals. If the UK equivalent of the FBI wants your information, they WILL get it. Some thing if the bank receives a court order for the information.
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