Any alternative to withdrawing money from paypal?

[First Edition]

DON'T USE A WAL MART MONEY CARD (AKA SUB PRIME BANK ACCOUNT OF THE YEAR) TO WITHDRAW FUNDS FROM PAYPAL

Two reasons....

1. The money card has a certain limit for incoming deposits before the bank gets suspicious. How do I come to this astounding conclusion? Well... if I'm a bank, and I'm going to markert a product to SUB PRIME customers, I'm going to throw u red flags when they've got thousands of dollars coming in a month electronically.

2. Paypal knows it's a sub prime bank account....... Use something legit. Why not use ING, and link to a real bank account? HSBC Savings, US Bank, bank of america, suntrust.... bb&t, most credit unions... all of these work fine.

Is there just a stigma behind a wal mart money card? You guys think you're being sneaky?

[digitalslave]

Yes, better to use a real bank account vs. greendot.
I had been withdrawing to a couple greendots and things ended up getting real ugly in the end.
I guess what happened was PayPal didnt like me using greendot for direct deposit.

[bbcoach]

Originally Posted by First Edition

DON'T USE A WAL MART MONEY CARD (AKA SUB PRIME BANK ACCOUNT OF THE YEAR) TO WITHDRAW FUNDS FROM PAYPAL

Two reasons....

1. The money card has a certain limit for incoming deposits before the bank gets suspicious. How do I come to this astounding conclusion? Well... if I'm a bank, and I'm going to markert a product to SUB PRIME customers, I'm going to throw u red flags when they've got thousands of dollars coming in a month electronically.

2. Paypal knows it's a sub prime bank account....... Use something legit. Why not use ING, and link to a real bank account? HSBC Savings, US Bank, bank of america, suntrust.... bb&t, most credit unions... all of these work fine.

Is there just a stigma behind a wal mart money card? You guys think you're being sneaky?

I got my accounts closed after about $2k of deposits. Spread out over a month and a half.

[First Edition]

Originally Posted by digitalslave

Yes, better to use a real bank account vs. greendot.
I had been withdrawing to a couple greendots and things ended up getting real ugly in the end.
I guess what happened was PayPal didnt like me using greendot for direct deposit.

Greendot is not the wal mart money card, but they're pretty much the same thing.

Paypal doesn't like you to use either, because it's still all about risk assessment. If you're using a sub prime bank account, IMO you're a higher risk.

[alphaversa]

Just to clear things up:

1. Paypal cannot see your name on your bank account (unless there is a reversal or you make a Paypal payment using funds from the bank account). If you are just using it for withdrawals they won't find out. Certain banks allow names to mismatch for deposits and certain banks don't. Paypal does not include a note with all their deposits about names matching or any other nonsense like that.

2. Green Dot works fine for some people. To blanketly say it does not work or should not be used is just very narrow minded. HOWEVER, you have to use some common sense. Open no more than 2 accounts per week and immediately close out any old accounts you are no longer using. The key is not to act too irregularly with the cards. Also, keep the withdrawals to under $200 per withdrawal and they don't seem to mess with you. Green dot is a great option for a lot of people.

3. I don't know why people still use bank accounts to cash money out of paypal anyway. If you are creative enough you can figure better more private ways to get your cash. You can also avoid the real big brother this way too.

[First Edition]

I thought greendot only lets you have one account, and if more than one they shut you down?

[alphaversa]

I currently have 11 active green dot accounts going.

[First Edition]

under the same persons name?

[MadSam]

...The silence speaks volumes.

[jbluntz]

You can pick up as many greendot cards as you want at 7-11, they work great for Amazon.

[schwuller]

Originally Posted by alphaversa

Just to clear things up:

3. I don't know why people still use bank accounts to cash money out of paypal anyway. If you are creative enough you can figure better more private ways to get your cash. You can also avoid the real big brother this way too.

i soooo wish someone would PM an elaboration on this. i would love to bounce some ideas off someone about that very topic. for those of us with large numbers of accounts this information is so important.

[qwat]

www.xoom.com used to be great for cashing out PayPal but they discontinued PayPal as an accepted method. Not sure if theres any other legit sites like it.

[newtools]

I thought I would chim in. i have used walmart money card to withdraw, but not over a few hundred at a time, or too be safe not more then 200 a transfer or $1000 a month. this has been talked about in other threads. As far as for mass verification is NOT ideal.
These are NOT throw away cards. You cannot get direct despoit details until after you buy, get home and activate online! At that point you will need to use Real name, address and SSN, as it is a real bank account.

because of this it not good for mass verification. Each time you buy a card it' $23 min purchase. As you have to loaf $20 min to a card. The biggest prob. is that will be one time use. once used on a paypal you cannot use it again because the number will be in there system. This option is only suggested if you cannot get reg. bank accts. for whatever reason.

Best: Get multiple saving accounts from ING, Ally Bank, Virtual Bank and use those for bank verification only!

Walmart money cards cannot be used as vcc because they have you real name, address and social attached and it NOT stealth at all!

Usa virtual Banks Direct bank - Wikipedia, the free encyclopedia

I think you said you were in Canada: Security First Network Bank
The Manulife Bank of Canada
ING of canad
Presidents choice financial with cibc
TD Canada Trust

[HowYaLivin]

Touché newtools

[rsot]

Wish someone would sell me some greendot or walmart cards =) hint ha

[newtools]

be happy to pick some up for you but im not reg. with a ssn lol
why not open an American corp and get an Ein. # and then a business bank acct.

[rsot]

Lot of work for me since I am in Canada but ha shoot me a pm =)

[holymoly]

Originally Posted by philly387

Ok well...

"The law is unclear as to whether PayPal is a bank, narrow bank, money services business or money transmitter. PayPal could also be subject to state regulation, but state laws vary, as do their definitions of banks, narrow banks, money services businesses and money transmitters. The most analogous regulatory source of law for PayPal transactions comes from P2P payments using credit and debit cards."

- PayPal - Wikipedia, the free encyclopedia

PP is NOT a BANK! That is why they can do the things that other banks CAN NOT or else it would be COMPLETELY AND UTTERLY ILLEGAL.

[First Edition]

It is unclear as to whether they are a bank... technically, it's impossible to say in no way shape or form are they are a bank, but they're not still. This is why they're allowed to get away with the things they do, as you pointed out.

Wal mart money cards on the other hand, ARE BANKS

[Hercules]

Yea but you can use PP to your advantage where using a bank they know who you are.

[alphaversa]

Yes, all the accounts with green dot are in one name. I have 12 now. The key is not buying a bunch and registering them at once. Spread it out and don't do something to flag yourself. I never make a deposit above $200 at a time and I do about 3 per week and have been going strong for 5 months on my oldest active Paypal.

[xfishx]

Originally Posted by philly387

There is a Visa card at walmart that actually has a bank account attached to it. You do need to use your SS# to activate the card though. So you can use that as a credit card on paypal and also a bank account on paypal.

this is true i just apply today anD GOT APRROVED 7 TO 10 DAYS THEY SAID.