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Why is merchant account requesting the same DBA name on the checking account?
 

I've just applied for merchantinc.com and in their application they ask you to have a checking account as your DBA that you give them. The question is how can they know what name you have on your checking account? If Paypal cannot see the name on the checking, how would a merchant account company be able to see that?

If I use my own name as the DBA, then I suppose all my buyers will see it, correct? What and how long does it take to get a DBA name? Do I need to get a tax ID number and the official sole proprietorship status for that?

i too made the same mistake when i signed up with them. i used my real name as my DBA, and a couple of my old buyers saw that and called me out. i quickly called up merchantinc, and requested a DBA change. they send you a form and ask for some sort of proof of the new DBA. i used my ebay user name, and i just faxed them a copy of an ebay page with user name on it. the whole process took a few days.

i did get a tax id number under a new DBA, but i have not used it yet. the IRS allows one tax id for sole proprietorship if you are incorporated. after that i think you would need to legally start a new business to get any new tax ids. the first one all you need is a ss#. the tax id is free too at IRS.com.

Did you have to open a new checking account under your DBA/eBay user ID name to have the merchant account deposit payments or a personal checking account will work just fine even though I have a different DBA name registered with the merchant account?

Guys: The best and Easiest (I think)-- is to use a generic DBA/ LLC name for everything...


i.e. Suzy's Collectibles LLC

>> NOW-- this UMBRELLA---can be used for ebay accts...
a.) Suzys +Co
b.) Suzys Company
c.) Suzys Memorobilia
d.) Suzy and Collectibles
e.) John & Suzys Co.
f.) Ted Suzy Inc
g.) Antique Suzy
h.) Suzy to go llc
i.) Sues things
++ Probably another dozen variations....

YOU SEE.. You can take those Money orders + still deposit them,,,,

good advice ebayhateluv. i wish i would have started my account in that manner instead of using my friends info. now i have to sign his name to money orders. then sign them over to myself. i will be adding him to my checking account though.

stepijunk, no i did not have to change my checking account, but i am not sure if it will be a problem later on. like if my bank has a problem with it, but i don't think so.