Use REAL Info For Bank Account..

[ivegotinfo]

all of my ⊗⊗⊗⊗ names are totally different than what i have on my bank and my payments ALWAYS go through to the bank. they just put that to scare people.

[thelizardking]

Yeah ivegotinfo is correct, its just a scare tactic. Usually you can even deposit checks and money orders that aren't in your name through the ATM. I haven't had any problems with withdrawing into accounts with different names.

[koalawash]

Do most ATM's now let you make deposits? I haven't done that before.

[thelizardking]

Yeah you have to use the ATM at one of your banks branches. On mine it clears it faster than if I went inside and did a deposit. I always use ATM deposit. Next time you go there when you put your card and pin in it should say withdraw or deposit.

[koalawash]

Cool, I'll try that. Thanks!

[atmlx]

I just opened up a new acct with ⊗⊗⊗⊗ info and I verified today. So far so good.

[thelizardking]

Yeah thanks Modee, not only is it not necessary but bank fraud is a very serious crime. I guess I thought it went without saying but then again..

[iclyde]

Opening a real bank account with a ⊗⊗⊗⊗ name is a surefire way to get yourself into the DEEP END of the law. It's crazy to even contemplate that.

There are folks pressuring and suggesting that PayPal should be made into a bank following banking laws. If that is the case, there'll be tons of trouble as they will request SSN and it'll probably be deemed illegal to open a ⊗⊗⊗⊗ name and address.

[koalawash]

Paypal would never want to go legal anyway.. they make all their profits cheating people as it is. Otherwise they'd have no reason to stay in business.

[GreenBean]

My understanding is that a bank account must have a valid account number.
The name is not pertinent although it may sometimes be necessary if there is
a mistake made with the numbers and a trace is being made of the monies.
I worked in a bank clearing house and we only looked at numbers not names. OK sometimes the names used were hilarious BUT we were after correct numbers. If the monies going through the account were within fiscal rules, there were no flags.

[koalawash]

You're right GreenBean. It's just that a lot of newbies come in here with the mistaken impression that Paypal can see the info on their bank account, so they come in here asking how they can sign up for one with ⊗⊗⊗⊗ info. It's Paypal's fault for lying to everyone about this in the first place.

[GreenBean]

Koalawash, exactly right. The motto for this forum should be: More Haste, less speed.

[ivegotinfo]

yeah screwing banks is bad bad, but screwing paypal is ok since theyre not a bank, theyre a company. so all you are doing is...going against some TOS, not against any laws. (unless you're photoshopping stuff...)

[atmlx]

Quick question,

When I sell items and receive money to my new paypal account that has bogus information but a real bank acct, do I withdraw directly to my acct, or should I transfer funds to my real paypal and then withdraw?

[thelizardking]

You just withdraw directly to your bank account. Make sure you wait atleast a week and keep your first withdraw under $50. Once you confirm those 2 amounts your good.

You can transfer to your real account but I wouldn't recommend it. Maybe only for emergencies.

[atmlx]

Wait what for a week? 1 week before selling, or keep the money in the acct 1 week and then withdraw?

[ebayhateluv]

HI:
I am not aware how one can even open a bank acct unless its your own name.. The New Patriot Act..
When I open LLC Bank Accts, for checking, they require Articles of Incorporation, minutes, and a Corp Resolution authorizing the opening of the acct, as well as a Certificate of good standing from the Secretary of State, from my State..
+++ They also run a credit check on you.. )

[thelizardking]

Originally Posted by atmlx

Wait what for a week? 1 week before selling, or keep the money in the acct 1 week and then withdraw?

Both, after you open your account wait a week before selling and list 2 items NON VERO, then if you sell any of those and recieve payment in Paypal let the money sit for about 5-7 days before withdrawing.