Forum

Using a Business Name with Ally
 

I set up a new business paypal account and when I withdraw funds it shows my business name as the bank account name and I can't find a place to change it to my name. I remember being able to change that... hmmm.

This paypal account is in my real name. The business name is my first two initials and a word. I just started withdrawing funds yesterday, so no money yet, but do you think the bank account name being in this business name would cause an issue? It's only about $3,000 being withdrawn as $495 per. I'm nervous as this is my fist time using Ally like this and I have read about some issues on here.

if i remember right, ally does not welcome business accounts

Yeah, they don't offer them I know, but this is basically a home-based business and there has to be others using paypal like this with Ally I would think. I called Ally a few times and the reps said it shouldn't cause an issue, but they can't say for sure.

everything is fine until it is reviewed by someone who actually knows what they are doing. even personal accounts which are 'doing business' are not welcome. it should work for now but i wouldn't consider it a long term option

Your account will eventually be restricted or closed with your money in it. Ally frowns upon ANY kind of business account....home based or otherwise. You have been warned...and there is a long ongoing thread already regarding this issue.

Whatever else you do, avoid Ally.

Confirmed horror stories from users here.

Staff say one thing and a harsher reality happens.

Avoid Ally.

:peace: