Re: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?) Quote:
Originally Posted by Dmshark25 If I understand correct, the account you have linked to paypal is a real savings account, and than you are withdraw funds from your savings to a prepaid debit card?
If the above is correct why not withdraw directly from the savings, I'm not getting why you are going from paypal to savings to prepaid | You are correct. My ppal has 1 letter added to my first name. Last name unchanged. The bank acct. and the Bancorp prepaid card is, of coarse, matches all my real info. GE Capital Savings is online only. Their is no direct method to withdraw (no card, no check), their are only two ways to withdraw from online savings, to a linked bank acct. and through wire transfer. I just got back from checking my just previous and, bank / ppal registered address for that letter GE Capital Savings has sent to me which was sent on the 4th and it is not there and I do not know if it has been delivered and returned to sender or hasn't came yet. I'm going to follow-up by phone to the people maintaining the place of address. If it has already been delivered then they probably sent it back to GE.
I can't remember one of our members name here on the forum, a former banker may have an idea to the reasoning besides the normally sent notice for any type of reversal for ACH transfer but, for why might they mail notice without telling me over the phone when I asked why the ACH was reversed by them (GE). I do know mail must be used in part for verification of registering during signing up and the Signature cards you must sign and return. I mentioned the Bancorp linked acct. it's status was noted with 'pre-approved' in my GE online acct. and that makes me think the definition means they want me to sign for approval to continue ACH transfers to the prepaid card.
This Bancorp was used and verified on the ppal when I signed up for ppal. No withdraws from ppal on the Bancorp. I added the GE acct. then, (I think) removed the Bancorp given sufficient time (thanks to rsot). I don't wanna have to end up adding it again to my ppal to withdraw to. I don't have an I.D. to walk into a branch, yet. I am a procrastinator and my drivers license is suspended and I work for myself. At home. When I heard of GE Savings and prepaid debit cards, that is when I BECOME procrastinator.
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