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Old 09-19-2013
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Default Paypal bank account question

Okay, so a friend is letting me open an account under their name. My question is can I attach my own brand new savings account to their paypal account to withdraw? Paypal wont be able to see my name on the savings account? Did I read that right in the book.
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Old 09-19-2013
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Default Re: Paypal bank account question

We don't recommend you "borrow" anyone's account, family or friends. I know the book say's it's ok but things change and as of right now we don't recommend it.

Suggest you make your own accounts.

As for bank account(s) make sure which ever bank you use, will allow for mismatch name deposits.
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Old 09-20-2013
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Default Re: Paypal bank account question

Quote:
Originally Posted by cashisking662 View Post
Okay, so a friend is letting me open an account under their name.
This is not stealth and can run to issues later down to road.

It is advised to not use friends or families ID to create accounts.
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Old 09-20-2013
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Default Re: Paypal bank account question

Quote:
Originally Posted by cashisking662 View Post
Okay, so a friend is letting me open an account under their name. My question is can I attach my own brand new savings account to their paypal account to withdraw? Paypal wont be able to see my name on the savings account? Did I read that right in the book.
Last question first.... correct the name is not seen.

Make sure to pick a bank account that does allow mismatched names.

Please consider making your own account. Bear in mind that your friend would be liable for taxes.

Avoid that

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Old 09-20-2013
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Default Re: Paypal bank account question

@cashisking, other thread posters have brought up valid points about the account and the use of friend info. Only info to add is that you must make sure the bank will accept deposits in mismatched names - that will depend on the bank you use
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Old 09-20-2013
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Default Re: Paypal bank account question

Thanks guys!
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Default Re: Paypal bank account question

Why not borrow anyone account if they don't use it ? I do not understand ?

Thank you.
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