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  #1  
Old 04-01-2014
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Default CapitalOne 360 problem: Bank of Internet questions

I opened a new CapitalOne360 Savings account 2 days ago. Everything went smoothly and I got my account verified on Paypal.

I got a disturbing call today from CapitalOne360 interrogating about my Paypal activities and why the test amount Paypal sent into my CapitalOne360 carries the phrase "John Doe (not my name on the CapitalOne360 account) Verify". Anyhow, I was forced to close this savings account.

Bottom line, we cannot use CapitalOne360 for stealth Paypal. If you have further suggestions, please share.

Thank you,

HH
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Old 04-01-2014
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Default re: CapitalOne 360 problem: Bank of Internet questions

Capitol one 360 is not good for stealth, I think if u had an account for awhile your ok , but I agree I opened one in December and had $2200 stuck in the account, it took me arguing with the fraud department for over two weeks to get them to send it back to paypal
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Old 04-01-2014
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Default re: CapitalOne 360 problem: Bank of Internet questions

Quote:
Originally Posted by hothotie View Post
I opened a new CapitalOne360 Savings account 2 days ago. Everything went smoothly and I got my account verified on Paypal.


Bottom line, we cannot use CapitalOne360 for stealth Paypal. If you have further suggestions, please share.

Thank you,

HH
You owe it to yourself to STOP making any accounts until you have read more of the forum.

Rushing to get back is what trips you up. Yeah, Capital One is not a good choice.

Are you able to use mainstream USA banks? Did you find any threads with bank info?

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Default re: CapitalOne 360 problem: Bank of Internet questions

Weird, I use formally called ING Direct now called Capital One 360 for over 2 years now and never a problem.

But my trick is that I have set up a business account with them along with a personal account. Both run under the same real name, me, but both act like a different set up.

I also keep over $2k on each account I have with them, I have 3 accounts under the business and personal side each, so 6 in total. One time I had up 5 on the personal side, again with more than $2k in each account.

My other trick is that I use the debit card with Capital One 360 more than I use my other debit cards. I know that these internet only banks usually give more trouble than brick and mortar banks. The debit card brings the bank more money into their coffers, so I guess they leave me alone.
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Old 04-01-2014
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Default re: CapitalOne 360 problem: Bank of Internet questions

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Originally Posted by yotano211 View Post
so I guess they leave me alone.
I thought it was because you are irresistible, Dr Yoshi.


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Default Bank of Internet and PayPal

Just saw the post with Capital One 360. I just opened an account with them, definitely won't be using them to fund my stealth accounts. Phew!

I also opened two Bank of Internet accounts. Anyone have any experience with them? I'm going to link one first and see what problems with mis-match names might occur.
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Default re: CapitalOne 360 problem: Bank of Internet questions

yes sure I'm irresistible, the reason I am still single.
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Old 04-02-2014
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Default Re: Bank of Internet and PayPal

Capital One 360 works for me. You just need to learn how to work them to your advantage.

I have never hard of "bank of internet". They must be new or a small player in the banking world. From my own experiences, lots of internet only banks are more trouble.

Last edited by GreenBean; 04-02-2014 at 02:50 AM.
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Old 04-02-2014
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Default Re: CapitalOne 360 problem: Bank of Internet questions

I was thinking, The OP said he/she opened the bank account only 2 days ago and then started to do his/her stealth thing.

I have worked in the investment banking field some years ago for officially 3 years plus 1 more, unofficially. My old bank had a certain algorithm to determine who was a riskier client based on age, age of the account opened, activity on the account, and wait services they had with that investment bank. Any high risk clients had a higher chance of getting one of the newer inexperienced stock brokers so a lower chance of making money from stock trading. That investment bank rarely closed or denied any client, but higher risk meant lower chance to make money.

I dont know if the consumer side of the banking world has a similar system but paypal has a system like it. The reason why some of use get banned from paypal based on certain factors. Maybe people need to start going slow and age the bank accounts with certain banks, esp. these internet only banks.

So maybe the reason the OP got shut down at Capital One so fast was that he/she was going to fast for their liking. Maybe the OP should have aged the account some more for added some extra services.

Capital One 360 is very easy to deal with. You can open and close accounts over the internet, no need to call an operator to ask for a certain account to be closed like I have to do with Navy Federal.

Last edited by yotano211; 04-02-2014 at 03:06 AM.
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  #10  
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Default Re: CapitalOne 360 problem: Bank of Internet questions

Quote:
Originally Posted by GreenBean View Post
You owe it to yourself to STOP making any accounts until you have read more of the forum.

Rushing to get back is what trips you up. Yeah, Capital One is not a good choice.

Are you able to use mainstream USA banks? Did you find any threads with bank info?

GB, I am coming back to BoA. I hate having to pay the fees - $5 each month, but well. I was partially my fault with CapitalOne360 that I moved too fast, but who knows they act like Paypal?
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Default Re: CapitalOne 360 problem: Bank of Internet questions

Quote:
Originally Posted by yotano211 View Post
I was thinking, The OP said he/she opened the bank account only 2 days ago and then started to do his/her stealth thing.

I have worked in the investment banking field some years ago for officially 3 years plus 1 more, unofficially. My old bank had a certain algorithm to determine who was a riskier client based on age, age of the account opened, activity on the account, and wait services they had with that investment bank. Any high risk clients had a higher chance of getting one of the newer inexperienced stock brokers so a lower chance of making money from stock trading. That investment bank rarely closed or denied any client, but higher risk meant lower chance to make money.

I dont know if the consumer side of the banking world has a similar system but paypal has a system like it. The reason why some of use get banned from paypal based on certain factors. Maybe people need to start going slow and age the bank accounts with certain banks, esp. these internet only banks.

So maybe the reason the OP got shut down at Capital One so fast was that he/she was going to fast for their liking. Maybe the OP should have aged the account some more for added some extra services.

Capital One 360 is very easy to deal with. You can open and close accounts over the internet, no need to call an operator to ask for a certain account to be closed like I have to do with Navy Federal.
I assume, they wanted to keep me but told me I won't be able to do ACH transfers from those stealth Paypal accounts (then PP accounts are Personal, not Business). I thought of open a Business account with Paypal but because it is a new stealth, I wanted to take it slow.
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Old 04-02-2014
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Default Re: CapitalOne 360 problem: Bank of Internet questions

Not a bad idea to age a bank account with some activity - interesting approach
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Default Re: CapitalOne 360 problem: Bank of Internet questions

Quote:
Originally Posted by hothotie View Post
I assume, they wanted to keep me but told me I won't be able to do ACH transfers from those stealth Paypal accounts (then PP accounts are Personal, not Business). I thought of open a Business account with Paypal but because it is a new stealth, I wanted to take it slow.
Dont let those fraud guys fool you into not using those stealth account with Capital One. Just put some extra money on each bank account you use, use the debit card, it makes the bank money, and after 1 month of using Capital One. Link any paypal to a Capital One, I'm sure the folks at the fraud department wont be calling you.

I just opened a personal and business account with BoA, their fees are high. If I dont use the debit card over a certain amount every month or have a certain amount of deposits every month they charge $14.95/month for each account. I nearly walked out of the bank for the high fees but I need more bank accounts.

Maybe Chase is better with fees.
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Default Re: CapitalOne 360 problem: Bank of Internet questions

With Bank of America as long as u have $250 in deposit a month than all the fees are waived for all accounts
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Default Re: CapitalOne 360 problem: Bank of Internet questions

Quote:
Originally Posted by rsot View Post
Not a bad idea to age a bank account with some activity - interesting approach
This has nothing to do with the issue being discussed. New accounts now with Cap One will get looked at closely.
People abused ing/cap one so any new account is looked at closely. Ing/cap one still is not good to use unless you have hsd an acct for many years.
I opened mine in 2005 so I can have my and add accts w no problem.
using ing/cap one now would be a mistake for a new acct as stated above some lost their money.

It has been known for many years here if you have an older bank acct from the past you will be more trusted.

Now open multiple accts with the idea of aging them without using them does not build trust with the bank.

Last edited by Sandy D; 04-02-2014 at 05:48 PM.
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Default Re: CapitalOne 360 problem: Bank of Internet questions

Another thing is when ing owned it accounts were easier to open then now. Cap one is the lsrgest credit card company going and has access to for credit etc history then ing would have done.
therefore they will be far more picky now since csp one purchase ing.

Last edited by GreenBean; 04-02-2014 at 05:50 PM.
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Default Re: CapitalOne 360 problem: Bank of Internet questions

I opened my Capital One 360 bank account when it was still called ING Direct. I liked it better when it was owned under ING Direct.

It was just a theory of my to maybe age the bank accounts or add more services to avoid the call from the fraud department. I already know that these internet only banks usually give more trouble.

Last edited by yotano211; 04-02-2014 at 03:06 PM.
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Default Re: CapitalOne 360 problem: Bank of Internet questions

If u establish the account first with 3-4 months of deposits in your real name and have accounts open with a nice balance and keep it stable than you will have a better chance of raising flags.

Problems arise is when u open accounts and the first day deposits are comming in with mismatch names
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Default Re: CapitalOne 360 problem: Bank of Internet questions

I've been opening/closing ING/CapitalOne360 accounts for 2+ years without a problem. Currently have 6 active accounts. I consider myself lucky
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Default Re: CapitalOne 360 problem: Bank of Internet questions

It's because u have had the account for 6 years and established trust, problems arise with new accounts opening and deposits right away with different names
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Default Re: CapitalOne 360 problem: Bank of Internet questions

Quote:
Originally Posted by yotano211 View Post
Dont let those fraud guys fool you into not using those stealth account with Capital One. Just put some extra money on each bank account you use, use the debit card, it makes the bank money, and after 1 month of using Capital One. Link any paypal to a Capital One, I'm sure the folks at the fraud department wont be calling you.

I just opened a personal and business account with BoA, their fees are high. If I dont use the debit card over a certain amount every month or have a certain amount of deposits every month they charge $14.95/month for each account. I nearly walked out of the bank for the high fees but I need more bank accounts.

Maybe Chase is better with fees.
How about Ally? I am thinking about Ally. No fees
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Default Re: CapitalOne 360 problem: Bank of Internet questions

Quote:
Originally Posted by yotano211 View Post
Dont let those fraud guys fool you into not using those stealth account with Capital One. Just put some extra money on each bank account you use, use the debit card, it makes the bank money, and after 1 month of using Capital One. Link any paypal to a Capital One, I'm sure the folks at the fraud department wont be calling you.

Maybe Chase is better with fees.
Earlier in 2013, I did try and open a Capital One business account at a branch. After going through a lengthy interviewogation, the last several questions were regarding payments. PayPal was one of the options, so I went ahead and told the lady that I would be accepting PayPal payments. Her computer then flagged our conversation and she said she would have to check with her manager to see what the problem was. She came back and turned down my business. She let me open a business CC, but bank account was out of the equation. I'm not going to try and mess with those guys again.

It actually slipped my mind when I applied for the CapitalOne360 bank account the other day.

Regarding the "Bank Of Internet" bank account-it doesn't look like anyone is familiar with it. Neither was I until I ran into a fellow investor that turned me onto BOFI stock portfolio. They're doing big things and are on the forefront of online-only banking. Let's just hope they're stealth friendly.

CHASE is awesome, been using them ever since I've owned a bank account with paypal
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