ACH Transfer - Bank -> Prepaid Debit Card (Reversal?) - 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 04-08-2014
okay's Avatar
Senior Member
 
Join Date: Aug 2013
Posts: 401
Thanks: 119
Thanked 24 Times in 24 Posts
Activity: 7%
Longevity: 48%
iTrader: (0)
Default ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

I have been transferring from GE Capital Online Savings to my registered and pre-approved prepaid debit card by Bancorp for 4 months without a problem. I did call my bank once questioning the reason a transfer did not complete around the end of March, put me on hold to 'verify some things', explaining I have exceeded the 6-per-month withdraw limit, oh okay I forgot about that. Withdrew on the last day of March so funds will be settled by April. Success.

Following that, I then successfully transferred from ppal to bank 350$ and initiated another withdraw being 300$. After 4 days I reviewed the problem on GE bank acct. and the funds were reversed by GE bank. I called GE bank asking for the reason for this and rep placed me on hold telling me she was going to ask someone then, she asked me if it was a prepaid card I was transferring to, I said yeah I and I have been doing so ever since I joined. She couldn't tell me why because a letter was sent to my address regarding the reversal. Problem is I have moved from this address just recently and the mail was probably already sent back. I am going to take a trip tonight too check for mail.

Today I attempted another withdraw this time for 280$ but too early to know it's state.

Could this be GE online savings not liking the withdraws to my prepaid debit card? Again, the status of the externally linked prepaid debit , it says 'pre-approved'. Does this mean GE wants more verification on it from me or I now have to get a second bank account? Chexsystems is reason I joined GE online savings. IS ALL this due to my similar mismatched ppal name?
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 04-08-2014
Senior Member
 
Join Date: Jan 2013
Posts: 4,410
Thanks: 242
Thanked 1,581 Times in 1,073 Posts
Activity: 0%
Longevity: 52%
iTrader: (0)
Default Re: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

Could be because banks do not like to see withdrawal activity from savings accounts, the only movement they like is money deposited

Too much activity could be the problem but guess you will find out in the letter
Reply With Quote
  #3  
Old 04-08-2014
okay's Avatar
Senior Member
Threadstarter  
 
Join Date: Aug 2013
Posts: 401
Thanks: 119
Thanked 24 Times in 24 Posts
Activity: 7%
Longevity: 48%
iTrader: (0)
Default Re: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

Well, this forum is where I learned about ppal and bank transfers. Savings accounts are one of the many viable options as well as checksystems friendly banks. I sure wish I could save my money but I gotta use it. If I can't get that letter what am I going to do? Change my address all of a sudden won't make it any better am I right? This is looking like I may now have to trash my only real bank account because savings accounts just is not a good solution for withdrawing? And now I have to actually use the prepaid card I setup and approved with in the past before linking GE Capital online savings to ppal. What a joke!!! I smell limitation, restriction ahead for me..
Reply With Quote
  #4  
Old 04-09-2014
Senior Member
 
Join Date: Jan 2013
Posts: 4,410
Thanks: 242
Thanked 1,581 Times in 1,073 Posts
Activity: 0%
Longevity: 52%
iTrader: (0)
Default Re: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

If I understand correct, the account you have linked to paypal is a real savings account, and than you are withdraw funds from your savings to a prepaid debit card?

If the above is correct why not withdraw directly from the savings, I'm not getting why you are going from paypal to savings to prepaid
Reply With Quote
  #5  
Old 04-09-2014
okay's Avatar
Senior Member
Threadstarter  
 
Join Date: Aug 2013
Posts: 401
Thanks: 119
Thanked 24 Times in 24 Posts
Activity: 7%
Longevity: 48%
iTrader: (0)
Default Re: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

Quote:
Originally Posted by Dmshark25 View Post
If I understand correct, the account you have linked to paypal is a real savings account, and than you are withdraw funds from your savings to a prepaid debit card?

If the above is correct why not withdraw directly from the savings, I'm not getting why you are going from paypal to savings to prepaid
You are correct. My ppal has 1 letter added to my first name. Last name unchanged. The bank acct. and the Bancorp prepaid card is, of coarse, matches all my real info. GE Capital Savings is online only. Their is no direct method to withdraw (no card, no check), their are only two ways to withdraw from online savings, to a linked bank acct. and through wire transfer. I just got back from checking my just previous and, bank / ppal registered address for that letter GE Capital Savings has sent to me which was sent on the 4th and it is not there and I do not know if it has been delivered and returned to sender or hasn't came yet. I'm going to follow-up by phone to the people maintaining the place of address. If it has already been delivered then they probably sent it back to GE.

I can't remember one of our members name here on the forum, a former banker may have an idea to the reasoning besides the normally sent notice for any type of reversal for ACH transfer but, for why might they mail notice without telling me over the phone when I asked why the ACH was reversed by them (GE). I do know mail must be used in part for verification of registering during signing up and the Signature cards you must sign and return. I mentioned the Bancorp linked acct. it's status was noted with 'pre-approved' in my GE online acct. and that makes me think the definition means they want me to sign for approval to continue ACH transfers to the prepaid card.

This Bancorp was used and verified on the ppal when I signed up for ppal. No withdraws from ppal on the Bancorp. I added the GE acct. then, (I think) removed the Bancorp given sufficient time (thanks to rsot). I don't wanna have to end up adding it again to my ppal to withdraw to. I don't have an I.D. to walk into a branch, yet. I am a procrastinator and my drivers license is suspended and I work for myself. At home. When I heard of GE Savings and prepaid debit cards, that is when I BECOME procrastinator.
Reply With Quote
  #6  
Old 04-09-2014
okay's Avatar
Senior Member
Threadstarter  
 
Join Date: Aug 2013
Posts: 401
Thanks: 119
Thanked 24 Times in 24 Posts
Activity: 7%
Longevity: 48%
iTrader: (0)
Default Re: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

Okay well, I tried to make another ACH transfer from bank to card, this time with a lower amount. The money never even moved this time, not even a error message. It was showing 'pending' for a few hours then nothing.
Reply With Quote
  #7  
Old 04-09-2014
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: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

Sounds like a bad block by the bank on the transfer
Reply With Quote
  #8  
Old 04-09-2014
okay's Avatar
Senior Member
Threadstarter  
 
Join Date: Aug 2013
Posts: 401
Thanks: 119
Thanked 24 Times in 24 Posts
Activity: 7%
Longevity: 48%
iTrader: (0)
Default Re: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

Quote:
Originally Posted by rsot View Post
Sounds like a bad block by the bank on the transfer
I don't understand why they are blocking I never heard of this petty blocking by a bank. I mean I'm not even moving that much money to and from it, maybe 2k$ in the 4 months since I joined. Feel like a kid again.
Reply With Quote
  #9  
Old 04-09-2014
Twocoolt's Avatar
Junior Member
 
Join Date: Jan 2011
Posts: 183
Thanks: 15
Thanked 24 Times in 21 Posts
Activity: 6%
Longevity: 68%
iTrader: (2)
Default Re: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

$2,000 is a lot withdrawing from a savings account in 4 months. I don't mean to sound mean but since you reached the six withdrawal limit per month I can see why they blocked your account.
Reply With Quote
  #10  
Old 04-09-2014
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: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

Quote:
Originally Posted by okay View Post
I don't understand why they are blocking I never heard of this petty blocking by a bank. I mean I'm not even moving that much money to and from it, maybe 2k$ in the 4 months since I joined. Feel like a kid again.
The way you are talking you are a kid.

Banks actually have strict protocols regarding how accounts are used.

Just because you managed a few transfers before, does not mean long term they will go on working. ( Well done for those, of course).

Look for posts by jeffweico on the topic of ACH & banking in general as well.

Whith careful thought banks can be used to our advantage for stealth. But we HAVE to know their rules.

Good Luck

Reply With Quote
  #11  
Old 04-10-2014
okay's Avatar
Senior Member
Threadstarter  
 
Join Date: Aug 2013
Posts: 401
Thanks: 119
Thanked 24 Times in 24 Posts
Activity: 7%
Longevity: 48%
iTrader: (0)
Default Re: ACH Transfer - Bank -> Prepaid Debit Card (Reversal?)

Quote:
Originally Posted by GreenBean View Post
The way you are talking you are a kid.

Good Luck

Reply With Quote
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
Debit card or prepaid? Jd84 PayPal Talk 14 09-29-2013 07:43 AM
PayPal transfer to bank account reversal- can the funds still transfer?? natashaiera PayPal Talk 2 08-17-2012 05:22 AM
Wire transfer to prepaid card bank account? FandangoKango Subscriber Discussions 0 03-15-2012 02:45 PM
Prepaid Credit card to paypal transfer ratz PayPal Talk 3 05-09-2010 12:24 AM
Which Prepaid DEBIT card for UK to see paypal charge made to card lucy Credit Card Alternatives 0 05-04-2008 02:27 AM


Aspkin Group

All times are GMT -5. The time now is 07:29 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