Bank of America called... - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Platform Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 01-01-2015
Junior Member
 
Join Date: May 2014
Posts: 33
Thanks: 7
Thanked 6 Times in 5 Posts
Activity: 0%
Longevity: 57%
iTrader: (0)
Default Bank of America called...

So the other day bank of america called me and said I can't continue depositing money from paypal because the deposits are going to the business name, not my personal name on my account. However, in paypal I used my personal name for the bank. When viewing the transaction in my BOA statement it says INDN: "Business Name" Paypal blablabla. That seems to me that the deposit is coming FROM "Business Name" not top it. But BOA insists its not and said if the activity continues, they will close my account. I've tried to go into paypal and see if I can change anything to send deposits differently and cant find anything. Anyone know about this?
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 01-01-2015
yankee's Avatar
Executive [VIP]
 
Join Date: Nov 2013
Posts: 8,983
Thanks: 2,744
Thanked 3,108 Times in 2,282 Posts
Activity: 0%
Longevity: 60%
iTrader: (2)
Default Re: Bank of America called...

You account with B of A is a business account?
Reply With Quote
  #3  
Old 01-01-2015
Junior Member
 
Join Date: Nov 2014
Posts: 48
Thanks: 17
Thanked 4 Times in 4 Posts
Activity: 0%
Longevity: 54%
iTrader: (0)
Default Re: Bank of America called...

How about a DBA? Inexpensive enough.
Reply With Quote
  #4  
Old 01-01-2015
pokerpro's Avatar
Senior Member
 
Join Date: Jan 2014
Posts: 1,089
Thanks: 171
Thanked 281 Times in 198 Posts
Activity: 0%
Longevity: 59%
iTrader: (0)
Default Re: Bank of America called...

If your BofA account is a personal account, and you opened your paypal account as a personal...there should not be a problem......so my assumptions must be wrong?? or what?
Reply With Quote
  #5  
Old 01-01-2015
BigCJ's Avatar
Executive [VIP]
 
Join Date: Apr 2011
Posts: 2,782
Thanks: 1,192
Thanked 1,021 Times in 709 Posts
Activity: 0%
Longevity: 75%
iTrader: (6)
Default Re: Bank of America called...

Perhaps it is the amount that is flowing through the account?
Reply With Quote
  #6  
Old 01-02-2015
jeffweico's Avatar
Executive [VIP]
 
Join Date: Mar 2010
Posts: 7,217
Thanks: 895
Thanked 4,069 Times in 2,169 Posts
Activity: 0%
Longevity: 81%
iTrader: (12)
Default Re: Bank of America called...

B of A wants you to switch to a business account. Something caught their attention and they looked at your account. Opening a business account is no big deal, you just need to set up a quick DBA in your business name. You could also set up an LLC or corporation, but that would be more work.

For a DBA, at most, B of A might want to see an assumed name certificate. Usually, you get those from your county recorder's office. Fees vary, but are usually very low.

This way, you will no longer have to worry about the mismatched names issue. You might pay $15 per month for the account, but it is worth it.
Reply With Quote
  #7  
Old 01-02-2015
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,343
Thanks: 5,612
Thanked 9,142 Times in 7,106 Posts
Activity: 0%
Longevity: 96%
iTrader: (6)
Default Re: Bank of America called...

Quote:
Originally Posted by pokerpro View Post
If your BofA account is a personal account, and you opened your paypal account as a personal...there should not be a problem......so my assumptions must be wrong?? or what?
If it's personal, sometimes BoA gets antsy if the amounts are too high.

That happened with an associate's account.


Scary times.

Reply With Quote
The Following User Says Thank You to GreenBean For This Useful Post:
write (01-04-2015)
  #8  
Old 01-02-2015
Senior Member
 
Join Date: Jan 2013
Posts: 4,410
Thanks: 242
Thanked 1,595 Times in 1,075 Posts
Activity: 0%
Longevity: 65%
iTrader: (0)
Default Re: Bank of America called...

Did you open a lot of accounts all at one time or within a few weeks , like did you open 5-7 checking accounts all within a few weeks or same time?

And did you start withdrawing from paypal right away into every checking account with a different name??

I never had any issues and I have used BOA with big accounts, but I always opened accounts with them over a longer period of time, and wouldn't add it to a paypal until it was over 90 days and making money.

The point is if you move gradual and show that you are doing good business with them, leaving a balance in accounts never overdrawing and not just opening many accounts all at once and receiving deposits all at once in different names , than you will have less issues

The couple rare cases I heard of this were people that opened 7 accounts or a lot of accounts all within a few weeks or same time and received mismatched name deposits in every account all at once
Reply With Quote
The Following User Says Thank You to Dmshark25 For This Useful Post:
write (01-04-2015)
  #9  
Old 01-02-2015
Junior Member
Threadstarter  
 
Join Date: May 2014
Posts: 33
Thanks: 7
Thanked 6 Times in 5 Posts
Activity: 0%
Longevity: 57%
iTrader: (0)
Default Re: Bank of America called...

Here's the full scenario:

I registered in my county as an LLC and paid the fee's
I opened a personal bank account with BOA
The paypal is set up as a business account (because of bannings) and set up with an EIN, but with my real name
I verified my address using a green dot card, not my BOA Debit
I'm barely transferring any money from paypal. Maybe $600 in December. I only have 1 BOA account and the money basically sits there as a just in case account totaling maybe $900. They're saying that the money is being deposited TO the business name, not my personal name. But in Paypal my name is clearly linked to the bank account. In my state I would be required to pay articles of organization and a yearly fee in order to open a business account.
Reply With Quote
  #10  
Old 01-02-2015
Senior Member
 
Join Date: Jan 2013
Posts: 4,410
Thanks: 242
Thanked 1,595 Times in 1,075 Posts
Activity: 0%
Longevity: 65%
iTrader: (0)
Default Re: Bank of America called...

So you have a business PayPal Account and the Business Name is Your real Name??
Reply With Quote
  #11  
Old 01-02-2015
Senior Member
 
Join Date: Jan 2013
Posts: 4,410
Thanks: 242
Thanked 1,595 Times in 1,075 Posts
Activity: 0%
Longevity: 65%
iTrader: (0)
Default Re: Bank of America called...

If that is the case than your deposits should say your real name if you go online or view a statement
Reply With Quote
  #12  
Old 01-02-2015
Junior Member
Threadstarter  
 
Join Date: May 2014
Posts: 33
Thanks: 7
Thanked 6 Times in 5 Posts
Activity: 0%
Longevity: 57%
iTrader: (0)
Default Re: Bank of America called...

No my business name is BMPP LLC (Blow Me Paypal LLC)

For some reason the deposits from paypal are going to my personal account but to BMPP

Thats not how its set up though. And obviously I don't want to call paypal and get them asking questions about my identity or anything.
Reply With Quote
  #13  
Old 01-02-2015
Senior Member
 
Join Date: Jan 2013
Posts: 4,410
Thanks: 242
Thanked 1,595 Times in 1,075 Posts
Activity: 0%
Longevity: 65%
iTrader: (0)
Default Re: Bank of America called...

Quote:
Originally Posted by jayh920 View Post
No my business name is BMPP LLC (Blow Me Paypal LLC)

For some reason the deposits from paypal are going to my personal account but to BMPP

Thats not how its set up though. And obviously I don't want to call paypal and get them asking questions about my identity or anything.
If your Business name is BMPP on your PayPal Account than that is how it is set up, when you withdraw to BOA , it will be deposited in your BUSINESS name , that's just how it works

I'm not sure how you think you set it up any different? When you have a business PayPal account and withdraw funds the funds will always be in the Business name

If it's a personal PayPal than the withdrawal will be sent in your name
Reply With Quote
The Following 2 Users Say Thank You to Dmshark25 For This Useful Post:
aclarkdba (01-04-2015), jayh920 (01-02-2015)
  #14  
Old 01-02-2015
Junior Member
Threadstarter  
 
Join Date: May 2014
Posts: 33
Thanks: 7
Thanked 6 Times in 5 Posts
Activity: 0%
Longevity: 57%
iTrader: (0)
Default Re: Bank of America called...

I have numerous other accounts, all set up the same way and haven't ever had a problem. I have to use business paypal because personal requires a ssn. The second I add that I'm banned. Oh well. i guess I'll just rock it til the wheels fall off and start over. Thanks for the help.
Reply With Quote
  #15  
Old 01-02-2015
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,097
Thanks: 408
Thanked 668 Times in 494 Posts
Activity: 0%
Longevity: 66%
iTrader: (0)
Default Re: Bank of America called...

I hate to post the obvious. But if you have gone through the trouble of a LLC and an EIN. Why not just dump BOA and get with another bank?
Reply With Quote
The Following 2 Users Say Thank You to vogeltron For This Useful Post:
jayh920 (01-02-2015), yankee (01-02-2015)
  #16  
Old 01-02-2015
Senior Member
 
Join Date: Jan 2013
Posts: 4,410
Thanks: 242
Thanked 1,595 Times in 1,075 Posts
Activity: 0%
Longevity: 65%
iTrader: (0)
Default Re: Bank of America called...

Or open up a Business Banking account, if you have an EIN and LLC
Reply With Quote
The Following 2 Users Say Thank You to Dmshark25 For This Useful Post:
aclarkdba (01-04-2015), yankee (01-02-2015)
  #17  
Old 01-02-2015
Junior Member
Threadstarter  
 
Join Date: May 2014
Posts: 33
Thanks: 7
Thanked 6 Times in 5 Posts
Activity: 0%
Longevity: 57%
iTrader: (0)
Default Re: Bank of America called...

As of last year in my state you are now required to file articles of organization and pay $200, plus a yearly fee in order to open a business bank account. I've tried EVERY bank near me and it's apparently a state statute now. This is just a starter page. I've had it 3 months now and still haven't had a limit raise above 5 items per month so it's not really worth the trouble or extra money. I may find a new bank that has looser deposit rules and just close BOA and confirm the new bank.
Reply With Quote
  #18  
Old 01-02-2015
Senior Member
 
Join Date: Jan 2013
Posts: 4,410
Thanks: 242
Thanked 1,595 Times in 1,075 Posts
Activity: 0%
Longevity: 65%
iTrader: (0)
Default Re: Bank of America called...

Strange, BOA has been a really good bank for mismatched names, just try another bank than since the limits are low
Reply With Quote
  #19  
Old 01-02-2015
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 75,855
Thanks: 5,926
Thanked 8,909 Times in 8,202 Posts
Activity: 99%
Longevity: 83%
iTrader: (7)
Default Re: Bank of America called...

Open the appropriate account and add it to the pp account - comply with the bank and indicate you have done so
Reply With Quote
  #20  
Old 01-02-2015
yankee's Avatar
Executive [VIP]
 
Join Date: Nov 2013
Posts: 8,983
Thanks: 2,744
Thanked 3,108 Times in 2,282 Posts
Activity: 0%
Longevity: 60%
iTrader: (2)
Default Re: Bank of America called...

Is you LLC in a foreign state? Or are you saying you never registered your LLC with your state at all?
Reply With Quote
  #21  
Old 01-03-2015
Senior Member
 
Join Date: Feb 2013
Posts: 1,063
Thanks: 406
Thanked 140 Times in 117 Posts
Activity: 0%
Longevity: 64%
iTrader: (7)
Default Re: Bank of America called...

Somebody in vetting at BOA got a bug up their ass. I have several accts. at BOA and have not had an issue yet. I hope it stays that way.
Reply With Quote
  #22  
Old 01-04-2015
Junior Member
Threadstarter  
 
Join Date: May 2014
Posts: 33
Thanks: 7
Thanked 6 Times in 5 Posts
Activity: 0%
Longevity: 57%
iTrader: (0)
Default Re: Bank of America called...

Yes I am going to just go with the flow with it and see what happens.

I am registered in my County as an LLC, and with the IRS. I am NOT registered in the state, so I don't have to pay the $200 article of organization fee. I usually hold off on this until I am profitable.
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
payoneer has changed bank account to Bank of America?? nick8898 Payment Gateways 4 12-17-2013 01:55 AM
Bank of America the ultimate stealth Bank? Dmshark25 Subscriber Discussions 13 08-17-2013 02:34 AM
bank of america vcc mashanali Subscriber Discussions 9 01-30-2011 07:52 AM
Paypal bank deposit with bank of america hangten Credit Card Alternatives 18 01-03-2011 04:36 PM
bank of america and chase bank accounts? FandangoKango Subscriber Discussions 9 07-12-2010 02:43 PM


Aspkin Group

All times are GMT -5. The time now is 11:42 AM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58