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  #1  
Old 06-20-2019
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Default Are you allowed to send money from Paypal to a bank account that isn't yours

Hi,

I set my Paypal up to go to a friends bank account. He had the small deposits in so that we could withdraw money from my PayPal into his account.

That bank account has now frozen his funds until he provides more information. Paypal hasn't done anything as of yet, just the bank.

The bank sent the below and I'm wondering, am I best getting my friend to come clean or just doctoring the screen shots.

'We're getting in touch because sometimes we need to ask for more information about how a customer is using their account, in order to satisfy regulatory requirements placed upon us by law.

This usually applies to new accounts or accounts where some of the transactions seem a little unusual for a personal account. These guidelines mean we need to understand, and in some scenarios obtain evidence of where our customers are receiving money from (known as source of funds).

I'm afraid we have had to temporarily restrict your account while we wait for your answers to the questions below. For the time being, you will not be able to receive funds into your account, pay direct debits or take money out. If you are expecting any money into your account, we would recommend that you make alternative arrangements while we complete our review.

Please see section 5.3 of the U Account and Card Terms and Conditions for details about our right to restrict accounts.

We can see that you have received a large number of payments into your account from PayPal, which is not consistent with a personal account. Could you please help us to understand the reason for the payments?

If the PayPal account used to send the money is in your name, please provide us with two screenshots: one of the screen showing that the PayPal account is in your name and at your address, and one of the screen showing your PayPal transaction history, so that we can match up the payments into your U account. In addition, we need to know where these funds are coming from – for example, if you are running a store on eBay, we would need to see screenshots of these same two screens from within your eBay account.

The more detail you provide about these transactions, the easier it will be for us to complete our review. Any evidence you can supply will also help us speed things up.

I have enabled the ability for you to attach documents to this message, so if there is anything in addition to the above that you can think of which might help us to understand where you are receiving this money from, please include this when you reply. The Other section of our FAQs give some examples of things you can use to evidence source of funds (www.uaccount.uk/frequently-asked-questions).

I look forward to hearing from you and please don't hesitate to ask any questions you may have.

Thank you in advance.'
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  #2  
Old 06-20-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

Which bank froze the account ? UAccount ?
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Old 06-20-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

Quote:
Originally Posted by garyjohnson View Post

The bank sent the below and I'm wondering, am I best getting my friend to come clean or just doctoring the screen shots.
Banking Fraud is one practice I'd give a very wide berth.

Supplying ebay creative docs to sell is one thing, doing it to a UK based bank account is another. I wouldn't dream of doing it.
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Old 06-20-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

I dont think US banks have caught on yet,not yet!!!!!!!
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Old 06-20-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

It sounds like you have U-Account personal account and they have now twigged that you are receiving more payments than a normal personal account should receive. I had 5 different stealth accounts all sending money to different U-Accounts but the account was a personal one. They contacted me and asked what all the payments were for and who they were from? and that I should not use the account for business. I contacted them and said I did not know the account was for personal use only and told them that I distribute my product around the UK and that the payments received were from my drop shippers. They asked for evidence of all this but I could not send it as the 5 stealth accounts were in different names. I could have used creative documents but choose not to as they are a bank. In the end I just walked away from the suspended account and have not logged in or used it again. The now currently deduct the £5 a month fee from my balance which was around £500 so I assume at some point in the future the balance will be gone and they will just close the account? I just thought on this occasion it was better to just walk away than to get involved.
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Old 06-20-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

Isn't it best to just create stealth accounts using your real name but keep everything else different ?

Prevents this banking issue that many appear to be facing.
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Old 06-20-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

Yeah, it's a Uaccount, the bank account is in my name but the PayPal account isn't.

There is 11k in there, school boy error leaving that much in but I thought Paypal would be the problem if any, not the bank account.

I was going to say it's not my account, my friend pays into it as he owes me the money.

Any ideas anyone?
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Old 06-20-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

Quote:
Originally Posted by james_112233 View Post
Isn't it best to just create stealth accounts using your real name but keep everything else different ?

Prevents this banking issue that many appear to be facing.
For banks that don't like mismatching name deposits. this is the solution.
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Old 06-20-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

So the bank reported to Pp the different name and then they limited ?!
I am wondering a way to break ice if they accept mismatched names or not
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Old 06-20-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

Quote:
Originally Posted by garyjohnson View Post
Hi,
I set my Paypal up to go to a friends bank account. He had the small deposits in so that we could withdraw money from my PayPal into his account. That bank account has now frozen his funds until he provides more information. Paypal hasn't done anything as of yet, just the bank.
Your PayPal is connected to his bank account. Banks forbid this, but your friend could be let off the hook especially if he comes clean. It's your friend's account so the bank won't talk to you yet.
Paypay isn't going to do anything because they are unaware. Whether or not he supplies the bank what they've asked for, PayPal is unlikely to hear of it - so you're fine to keep selling. You can add one or more other bank accounts to the PayPal but before you do; you should make a PDF snapshot of the Activity page, withdrawal history and account information details. He’d need to hand these to the bank.




Quote:
Originally Posted by garyjohnson View Post
'We're getting in touch because sometimes we need to ask for more information about how a customer is using their account...These guidelines mean we need to understand, and in some scenarios obtain evidence of where our customers are receiving money from (known as source of funds). We can see that you have received a large number of payments into your account from PayPal, which is not consistent with a personal account. Could you please help us to understand the reason for the payments?
I don’t know why the both of you criss-crossed your PayPal to his bank, but if you did this because you’re in business together and need to keep a tab on what the other person is doing, then you and your friend should explain that to the bank IN WRITING.
Many first-time traders do not know all the rules - so your friend may not have known trading with personal accounts was against the bank's TOS. Your friend should explain if he was unaware.
Take snapshots of your eBay account showing your business information, listings and possibly feedback page. Add a cover letter introducing yourself and confirm your business relationship with your friend. Include invoices for the goods or services you sell.





Quote:
Originally Posted by garyjohnson View Post
If the PayPal account used to send the money is in your name, please provide us with two screenshots: one of the screen showing that the PayPal account is in your name and at your address, and one of the screen showing your PayPal transaction history, so that we can match up the payments into your U account. In addition, we need to know where these funds are coming from – for example, if you are running a store on eBay, we would need to see screenshots of these same two screens from within your eBay account.
Provide screenshots. Add a small note referencing the letter above, which explains your business relationship with your partner. That should solve the mismatch problem. The bank knows quite well that the PayPal account isn’t in your friend’s name. They can see your name on every transfer from PayPal to the bank. If you phake anything here and you’re caught, you’d either be defending yourself in court for money laundering charges or at best forfeit ALL monies in that account.





Quote:
Originally Posted by garyjohnson View Post
The more detail you provide about these transactions, the easier it will be for us to complete our review. Any evidence you can supply will also help us speed things up.
The above is true.
If you leave out some of the requested documents, the banksters will likely keep your money.
If you supply phake docs and you’re caught, you may lose your money and perhaps fight to keep your freedom.
They can legally keep your money for a maximum of 90 days if you meet all their requirements, but if you go the extra mile, you’d probably get your money released within 1 or more weeks.

Consider the following:
1. Adding other relevant information such as tracking numbers with successful delivery. Make sure delivery dates predate the day your friend's BA was locked.

2. Notarise important docs that would have aroused suspicion.

3. Add an affidavit to help substantiate your letters.
4. Add letters/notes from suppliers and perhaps an action plan showing corrective steps you wish to implement, such as correspondence showing inquiries to open a business bank account, etc.

Some of us here have had name mismatch troubles with banks for larger sums. If you’re truthful and meticulous in your pursuit to recover your money, your chances for success will be high.

Good luck.
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Old 06-21-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

Sorry. I made a mistake in my panic of writing this post.

The bank account is mine. The PayPal account is not in my name.

So the Paypal account not in my name has been paying into my bank account.

He set up the Paypal with my bank account by leaving the two deposits from Paypal to confirm and then started sending money to it.

I was going to say that my friend owed me money and that he said that he would pay it in over time from Paypal.

Is that a good plan or a bad idea?
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Old 06-21-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

How much were you accepting (did you take in to your bank account from paypal in total) for this to get triggered ? I have read Halifax are trouble and i'm currently using a Halifax current account.

I might just abandon my accounts and re-open a stealth but use my real name from now on.

The last thing I want are money laundering charges put against me for trying to run a legitimate business under stealth.
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Old 06-21-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

No idea how it got triggered to be honest. I think it's because there were large amounts going into t personal account maybe.
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Old 06-21-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

Quote:
Originally Posted by garyjohnson View Post
Sorry. I made a mistake in my panic of writing this post.

The bank account is mine. The PayPal account is not in my name.

So the Paypal account not in my name has been paying into my bank account.

He set up the Paypal with my bank account by leaving the two deposits from Paypal to confirm and then started sending money to it.

I was going to say that my friend owed me money and that he said that he would pay it in over time from Paypal.

Is that a good plan or a bad idea?
Don't lie to the bank. I have responded to your PM.
I hope you see it through and get your money back.
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Old 06-21-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

At least in the USA it's certainly possible for PayPal or any service to check to see if the name on the account matches the bank name. Sites like Coinbase and other financial sites already do this.

One of the biggest misconceptions is that PayPal cannot see the name on the bank account. They do, and can when using the micro deposit method of verification. whether or not they allow it, or do anything about a mismatch is another separate matter. That said, most people who run stealth account have no problem with name mismatches, at least that this time.

In the UK they might have a different way of handling these types of transactions, however.

Last edited by nickopedia; 06-21-2019 at 02:19 PM.
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  #16  
Old 06-24-2019
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Default Re: Are you allowed to send money from Paypal to a bank account that isn't yours

the bank can also reject the deposit,if it is not made out to the owner of the bank account.
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