Bank Problem!

[Stealth4]

I am in Australia. I opened a new account with Suncorp and registered Paypal.

Today the bank called me and said they have to close my account because the money coming in is not under my name and they do not want to offer me any service and i have to go to the bank and take the money out!!

What should i do? why did this happen?

Should i open a different account with another bank? Is my paypal going to be limited? Should i change the banking details in paypal or is it too soon!

HELP!!

It Is best to check with banks before you sign up when It comes to receiving money in alternative names. It will save you lots of time. Although, sometimes they'll tell you that they cannot accept money in alternative names, when in reality they do, so you never know man 50/50. Just do what they say, and move on.

[down]

Hi there,

Suncorp were recently in the news due to some kid misusing suncorp sub-accounts to create stealth ebay a/cs and scamming people of their money, i.e never sending them goods. The news said that paypal lost about $37000 because of that kid. Since then, suncorp seems to be tightening their security and meticuluosly checking if a/c name matches to the paypal name.

I'd say do as they say and move on to another bank. Hopefully. the other banks wont start doing this and everything's back to normal. From personal exp, i know that Westpac doesnt check names. HOpe this helps.

[Stealth4]

Thanks guys. I am really worried. It was a new paypal account and i was trying to verify the account and suncorp called. They have removed the account from internet banking so i dont know what the amounts were. I removed the bank account from my paypal account. I am just worried it will now be limited?

I am also using ANZ and it is working fine but now i am thinking what will happen if all banks use this proccess where money can not be deposited with a different name to the bank account

Will we all go out of business? :(

Very stressful day for me

I thought i was getting things together and now this!