How to explain bank funds in defferent names? - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 03-30-2014
Senior Member
 
Join Date: Aug 2011
Posts: 363
Thanks: 136
Thanked 50 Times in 37 Posts
Activity: 0%
Longevity: 64%
iTrader: (0)
Default How to explain bank funds in defferent names?

I always worry that my bank is going to ask me why i have multiple accounts all receiving deposits from different random names....

What would be a good answer for this if my bank asked me??

Thanks in advance

Last edited by last3379; 03-30-2014 at 02:24 PM. Reason: wrong word
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 03-30-2014
glacier922's Avatar
Executive [VIP]
 
Join Date: Aug 2013
Posts: 2,102
Thanks: 668
Thanked 259 Times in 208 Posts
Activity: 23%
Longevity: 48%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

You could tell them the truth. Or, I usually have a different name with same last name or a misspelling of the name or try to phonetically spell out my first name in different ways. Like a c sound, I would spell it as an s. or an I sound, I change to y.

With last name, I'm thinking I could just say it's my cousin or something. With a phonetics, at least you can say the other side doesn't speak English well or something.
Reply With Quote
  #3  
Old 03-30-2014
Senior Member
Threadstarter  
 
Join Date: Aug 2011
Posts: 363
Thanks: 136
Thanked 50 Times in 37 Posts
Activity: 0%
Longevity: 64%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

To be a little more specific i have 8 added on savings accounts to my one main checking account that receive funds from 8 totally different names than my own.. So 9 accounts for 1 bank account with different names and only 1 being my real name!

The bank might ask why i need 8 savings accounts with deposited funds all from different names.

Last edited by last3379; 03-30-2014 at 03:09 PM.
Reply With Quote
  #4  
Old 03-30-2014
Banned
 
Join Date: Apr 2009
Posts: 8,611
Thanks: 1,580
Thanked 2,025 Times in 1,355 Posts
Activity: 0%
Longevity: 82%
iTrader: (47)
Default Re: How to explain bank funds in defferent names?

Do you have access to another bank?

You have to be careful over doing accounts at one bank.
Reply With Quote
  #5  
Old 03-30-2014
JamesNorth101's Avatar
Super Moderator
 
Join Date: Apr 2013
Posts: 17,379
Thanks: 1,410
Thanked 4,367 Times in 3,402 Posts
Activity: 57%
Longevity: 50%
iTrader: (356)
Default Re: How to explain bank funds in defferent names?

IMO it should be kept to no more than 4 accounts with 1 bank.

9 is going to raise questions with most banks
Reply With Quote
  #6  
Old 03-31-2014
just_smile's Avatar
Executive [VIP]
 
Join Date: Aug 2012
Posts: 3,208
Thanks: 759
Thanked 933 Times in 699 Posts
Activity: 31%
Longevity: 56%
iTrader: (111)
Default Re: How to explain bank funds in defferent names?

I'd say honesty is the best policy. You're not doing anything illigal so the banks shouldn't mind too much.
Reply With Quote
  #7  
Old 03-31-2014
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 41,969
Thanks: 5,467
Thanked 8,998 Times in 7,022 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default Re: How to explain bank funds in defferent names?

Quote:
Originally Posted by last3379 View Post
To be a little more specific i have 8 added on savings accounts to my one main checking account that receive funds from 8 totally different names than my own.. So 9 accounts for 1 bank account with different names and only 1 being my real name!

The bank might ask why i need 8 savings accounts with deposited funds all from different names.
Which bank?

You are pushing the limits ( too many eggs in the one basket).

Are you able to use at least one other bank?

Reply With Quote
  #8  
Old 03-31-2014
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 41,969
Thanks: 5,467
Thanked 8,998 Times in 7,022 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default Re: How to explain bank funds in defferent names?

Quote:
Originally Posted by glacier922 View Post
You could tell them the truth. Or, I usually have a different name with same last name or a misspelling of the name or try to phonetically spell out my first name in different ways. Like a c sound, I would spell it as an s. or an I sound, I change to y.

With last name, I'm thinking I could just say it's my cousin or something. With a phonetics, at least you can say the other side doesn't speak English well or something.
Your bank account is meant to be made with your real ID.

It's not obvious what you mean.

Reply With Quote
  #9  
Old 03-31-2014
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 58,259
Thanks: 4,616
Thanked 7,109 Times in 6,476 Posts
Activity: 100%
Longevity: 77%
iTrader: (7)
Default Re: How to explain bank funds in defferent names?

Spread accounts over several banks.

Keep having low amounts come from PP.

Dont drain the bank account - keep them happy.

Build STRONG relationships with the banks
Reply With Quote
  #10  
Old 03-31-2014
glacier922's Avatar
Executive [VIP]
 
Join Date: Aug 2013
Posts: 2,102
Thanks: 668
Thanked 259 Times in 208 Posts
Activity: 23%
Longevity: 48%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

Quote:
Originally Posted by GreenBean View Post
Your bank account is meant to be made with your real ID.

It's not obvious what you mean.

Ahhh, I see what you mean.
Reply With Quote
  #11  
Old 03-31-2014
Senior Member
Threadstarter  
 
Join Date: Aug 2011
Posts: 363
Thanks: 136
Thanked 50 Times in 37 Posts
Activity: 0%
Longevity: 64%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

I think I'll spread the accounts to a couple more banks.

I definitely will not be telling the bank the truth.

Thanks for the reply's
Reply With Quote
  #12  
Old 04-01-2014
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,090
Thanks: 407
Thanked 661 Times in 489 Posts
Activity: 0%
Longevity: 53%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

I agree about spreading them out. Here in states I usually have about 3-4 accounts max at each bank. As much as possible I try retrieve money via ATM and move money around via online banking.

If you have 8 savings accounts or even 8 checking/savings at a single bank I would say that raises a big flag.
Reply With Quote
  #13  
Old 04-01-2014
Senior Member
 
Join Date: Jun 2010
Posts: 2,657
Thanks: 25
Thanked 401 Times in 337 Posts
Activity: 0%
Longevity: 73%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

savings accounts in general aren't those a bad idea? as you a limited to the number of withdraw you can make and other limitations to deal with with savings that you don't have with checking accounts.
Reply With Quote
  #14  
Old 04-01-2014
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 58,259
Thanks: 4,616
Thanked 7,109 Times in 6,476 Posts
Activity: 100%
Longevity: 77%
iTrader: (7)
Default Re: How to explain bank funds in defferent names?

States tend to have more selection for banks than Canada /sigh - but still can get quite a decent selection up here still
Reply With Quote
  #15  
Old 04-01-2014
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,090
Thanks: 407
Thanked 661 Times in 489 Posts
Activity: 0%
Longevity: 53%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

Either way you slice it. 8 Savings accounts is very high. I mean like 4 would be pushing it big time in my opinion.

Last edited by GreenBean; 04-02-2014 at 05:52 PM.
Reply With Quote
  #16  
Old 04-01-2014
Senior Member
 
Join Date: Mar 2012
Posts: 312
Thanks: 3
Thanked 71 Times in 48 Posts
Activity: 0%
Longevity: 59%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

1. accounts payable, want to keep things separate for accounting/tax purposes
2. ebay seller accounts in dba names, don't feel comfortable giving them full bank info
3. online clients pay me via their paypal accounts this way

ect.

I keep it at <5 accounts per bank. That being said, I don't think a bank would protest 10 accounts with 10K in each lol. They hate when you constantly drain the accounts as soon as money is posted (you seem shifty) or have several 0 balance accounts sitting doing nothing.
Reply With Quote
  #17  
Old 04-02-2014
Senior Member
Threadstarter  
 
Join Date: Aug 2011
Posts: 363
Thanks: 136
Thanked 50 Times in 37 Posts
Activity: 0%
Longevity: 64%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

I went to my bank and closed 5 of the savings accounts, of course they asked why i had so many.. I just told them I had 8 different websites that i sold from and 5 of them went under. They never asked about the funds coming in to different names.
Reply With Quote
  #18  
Old 04-02-2014
Executive [VIP]
 
Join Date: Dec 2010
Posts: 3,391
Thanks: 238
Thanked 770 Times in 567 Posts
Activity: 13%
Longevity: 69%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

Quote:
Originally Posted by last3379 View Post
I went to my bank and closed 5 of the savings accounts, of course they asked why i had so many.. I just told them I had 8 different websites that i sold from and 5 of them went under. They never asked about the funds coming in to different names.
wow you closed 5 at once, I think that is another mistake, closing so many accounts at once. I would have closed the ones that are not used any more, the accounts that are linked to a banned paypal.

Maybe try doing this, see if the bank has a accounts for business. You would need a legit business in your country. At most of my banks I have personal and business accounts. 4 personal, 4 business accounts, 8 total accounts per bank, some banks are little more and a little less.
Reply With Quote
  #19  
Old 04-03-2014
Subscribed [VIP]
 
Join Date: Mar 2014
Posts: 42
Thanks: 2
Thanked 4 Times in 2 Posts
Activity: 0%
Longevity: 43%
iTrader: (0)
Default Re: How to explain bank funds in defferent names?

I thought you could use your real name on a Stealth Paypal because Aspkin said Paypal doesn't link name on Bank account
Reply With Quote
  #20  
Old 04-04-2014
JamesNorth101's Avatar
Super Moderator
 
Join Date: Apr 2013
Posts: 17,379
Thanks: 1,410
Thanked 4,367 Times in 3,402 Posts
Activity: 57%
Longevity: 50%
iTrader: (356)
Default Re: How to explain bank funds in defferent names?

Quote:
Originally Posted by hothotie View Post
I thought you could use your real name on a Stealth Paypal because Aspkin said Paypal doesn't link name on Bank account
Yes you can.

What you should not be doing is opening 7/8 accounts with the same bank.

That will raise eyebrows at the bank, nothing to do with PayPal
Reply With Quote
  #21  
Old 04-04-2014
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 58,259
Thanks: 4,616
Thanked 7,109 Times in 6,476 Posts
Activity: 100%
Longevity: 77%
iTrader: (7)
Default Re: How to explain bank funds in defferent names?

Quote:
Originally Posted by last3379 View Post
I went to my bank and closed 5 of the savings accounts, of course they asked why i had so many.. I just told them I had 8 different websites that i sold from and 5 of them went under. They never asked about the funds coming in to different names.
That`s not a bad move - clear up the portfolio quickly
Reply With Quote
  #22  
Old 04-04-2014
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 41,969
Thanks: 5,467
Thanked 8,998 Times in 7,022 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default Re: How to explain bank funds in defferent names?

Quote:
Originally Posted by last3379 View Post
I went to my bank and closed 5 of the savings accounts, of course they asked why i had so many.. I just told them I had 8 different websites that i sold from and 5 of them went under. They never asked about the funds coming in to different names.
Preferable to stagger closing bank accounts....

That closing of so many will have been 'noted' on your bank file even though they made no comments about the closures.
__________________
Ever look at someone and think WhyTF has no one hit you with a shovel yet?
Reply With Quote
The Following User Says Thank You to GreenBean For This Useful Post:
gonzoman (04-06-2014)
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Funds transferred but bank rejected funds so how do i get the funds back again? blingy UK PayPal Talk 2 03-29-2015 12:48 PM
Are there banks which accept international funds xfers with mismatched names? Omgoozle Subscriber Discussions 4 08-20-2013 10:28 AM
Which bank allows incorrect names. forget mismatched names? roberto Amazon 12 05-03-2013 11:16 AM
paypal names on account and withdrawing funds to bank account beckybexta UK PayPal Talk 5 03-12-2011 04:36 AM


Aspkin Group

All times are GMT -5. The time now is 05:24 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts