It's been a while, but I have a PP/Bank address question and a warning about ACH

[TermedPS]

Greetings from the Big Apple and Happy Holidays!

FIRST - Thanks to Aspkin and the board members for getting me back on ebay. When I came here, I lost a 2000 (2001?) Gold Powerseller account and all of you nice folks helped me immensely. Without going into details, after getting the book and reading the forums, I have managed to work one account into a powerseller account within a few months and I also have mutiple accounts "sleeping". (Aspkin, I sent you my old key for re-activating so I eagerly await to read the new Stealth Book - ).

So for all of you who are wondering if this system works...the answer is YES!
Support Aspkin and this forum by buying the book!

Now my "stupid" question. I have searched and found answers but as most of you know, better safe than sorry, better to ask before doing something stupid if you're not sure, etc....

The problem: I have an account where I needed to close my PP verified bank account for reasons I will explain below. I opened another account (same bank) and am ready to replace the old bank account with the new one. The old account allowed to me have a "home" address and a "mailing" address. The home address matched my stealth info for both ebay and PP accounts so it was great. I use my real addy for the "mailing" addy in case of snail mail. The new account (same bank) no longer gives me this "home"/"mailing" addy option so I must use my real addy. I've read and remember that PP cannot check the bank addy, but before I go ahead and make the change, I just wanted confirmation.
Q: Any chance that this action could raise a flag with PP?

I have had no issues on this account, eBay, PP or otherwise. However, I did let my CC and Tel # to expire on PP so I am a bit concerned if PP will attempt to contact me for trying to add another bank account with a different addy.

Stealth Specs:
eBay - 100% stealth info
PP - 100% stealth info
Bank - Real name, real addy - prev suspended of course.

ACH Transfer WARNING!

This is not really an eBay or PP thing but it may help some of you if you do not know this law. I closed my bank account I mentioned above because at one time, I paid one of my personal CC bills via an ACH transfer . One of the most common instance of an ACH transfer happens when a creditor (usually a cc company) says on the phone, "Mr. Smith, we can take a one time payment so your account gets credited right away to avoid any late fees, all we need is your routing & acct #'s".

I was an idiot for using this bank account of course, and a bigger idiot for giving them the approval to do so. Without thinking, I gave them my aba routing #, and bank acct # . So they take the funds and everything is fine...or so I thought! About 30 days later, I notice that my bank balances are short! I look at the details and sure enough, WHAM! They debited my account again WITHOUT my authorization! I was stunned. I speak with my bank and they tell me that most consumers do not know that when you allow one ACH transfer by giving someone your ABA# and acct #, they legally have the right to come back and hit your account again, and again, and again! WTF!?!

The first way to stop this is to call the creditor (when I told my CC company of the problem, they gave me the run-around and kept transferring me around - it's especially bad if you are past due as they want to keep banging your account and get paid). The second method is to simply CLOSE your account (my choice) because it's difficult to recover the funds once they actually debit your account. Finally, you can walk in and fill out an "ACH affidavit" to stop a particular entity from making any future ACH debits. I did this on a business account that I couldn't close and it cost me $25 to do it.

So the moral of the story? NEVER, EVER allow an ACH transfer to a creditor! My banks told me that it's much safer to give them your debit card # rather than your aba and bank acct # to make payments cuz' it's MUCH easier to recover those type of unauthorized debits against your account.

Sorry for the long winded post and hope this helps some of you avoid some HUGE headaches. Can you believe this sh*t?!?!?!?!? I never KNEW! My bank told me it's one of those things that creditors/vendors will not tell you (of course) when they get your ACH approval that first time.

Termed

[aspkin]

Hi TermpedPS, I'm pretty sure I reset you key by now. Thanks for your kind words on the forum, it's members and eBay Stealth.

As for you question, PayPal can not see any details on your bank account accept what you give them. They can't see or match up addresses or names. Your bank does see what names your deposits come in though, some banks don't like when names mismatch like if your name is bob and you have money coming in under the name tom.. some banks don't like this, but most don't care it seems.

So you'll be perfectly find using any address you want with your bank account. And you shouldn't have any problems with added that account to your PayPal account, you shouldn't receive a limitation because of it. Just don't make any major changes to your PayPal account and you'll be fine.

And I guess the moral of the story with creditors are not to trust them.

I like to be in control if I have a dispute, I would never give out my real banking information to any company I didn't know well enough. I have bank accounts that I use for this reason with limited funds in it to protect me.

At least now you know what to do next time.