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Help! Bank is asking for Paypal account owner's ID in order to release funds?!??
 

I transferred $430 to my SMI ONE prepaid card (with Metabank) under a different name. The two verification deposits came through so I thought depositing money with a different name would be fine. When I called I was told that a manager would be calling me back. After waiting for about 6 hours I called customer service back and was finally able to get information from a representative. They're asking for the Paypal account owner's ID card and a notarized letter from them stating that I can use their account! Wtf?! I don't know what to do at this point. I asked them to keep my account closed and just send me a check, and they said they were not able to do that. Since every time I've had money returned from a bank account my PP account has gotten limited immediately after, I told them that my Paypal account is now closed so they cannot send the money back. So basically they're just going to keep my funds forever? Are they legally allowed to do that? Any suggestions? Thanks.

Re: Help! Bank is asking for Paypal account owner's ID in order to release funds?!??
 

I've spoken about this to a lot of people....NEVER transfer large amount into an account you have never tested.

At this point your S.O.L, it can't be done. There is no way around this nor can you bullsh*t the info. They can check any ID you send them so you are out of luck.

Your basically out $430....Next time you use some card like this....test it out with $20-$30 to make sure it's all good.

Re: Help! Bank is asking for Paypal account owner's ID in order to release funds?!??
 

Metabank is fail for mismatched names. Name variants are usually better.
They are allowed to hold the funds and since you told them the account was closed, they will most likely hold it indefinitely.

Re: Help! Bank is asking for Paypal account owner's ID in order to release funds?!??
 

I agree with both BigCJ and MM78. To answer your question about the legality of the bank wanting to verify the info: yes, the bank are absolutely allowed to hold your funds until you can verify the identity of you or the intended person the payment is for.

Re: Help! Bank is asking for Paypal account owner's ID in order to release funds?!??
 

Metabank has been known to have issues for years now.

You have to see it rom their point of view. You, Jane Smith, have an account with them that is relatively new. There is little activity on that account. Then, one day, a $430 deposit is made to the account in the name of Peter Jacobson, your stealth name. They wonder if the money was mistakenly deposited to the account, of if the account holder is committing some type of fraud. So, they hold the payment until they figure out what is going on.

Closing the PayPal account does not mean the bank cannot send it back. They can still return the money to PayPal telling them that the deposit names did not match. What PayPal would then do, I am not certain.

The thing is, you should use the search function on the forum and search for any bank name you might be considering using for stealth. You will find a number of them that are good for stealth. Metabank is not one of them, and they are a HUGE servicer of cards with a bank account attached. You need to read the user agreements to see who manages the account, regardless of the name on the card. If it is Metabank, then don't use it for stealth.

Re: Help! Bank is asking for Paypal account owner's ID in order to release funds?!??
 

I wish you all the best. These banks should know that our money is earned with lots of sweat.

Re: Help! Bank is asking for Paypal account owner's ID in order to release funds?!??
 

Have the money sent back to your pp acct. I wouldn't worry about it getting limited, and if it does you can still count on it being released in 180 days vs. never.

Re: Help! Bank is asking for Paypal account owner's ID in order to release funds?!??
 

Thanks everyone! Also, it actually isn't Metabank, it's The Bancorp Bank, which is usually a bit better when it comes to mismatched names..

Re: Help! Bank is asking for Paypal account owner's ID in order to release funds?!??
 

Bancorp Bank to my knowledge is US Bank. To my knowledge and reading, I think I never have seen any problems with Bancorp. Maybe the prepaid card was just too new to use with pretty large deposits and mismatched names.

Re: Help! Bank is asking for Paypal account owner's ID in order to release funds?!??
 

It's not Bancorp who will have issues but the actual company that is providing the service. Bankcorp acts as the bank but if the company that provides the service doesn't like the mismatch name deposits.

At this point in time there is nothing that can be done......If the proper docs can't be produced then the cash is a goner.