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  #1  
Old 12-30-2008
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Default Bank of America caused issues for me when used with PayPal

A few weeks ago I came in here after ING shut all my accounts down. It seems they didn't like payments coming from Paypal in different alias names to my ING account.

I was told by some in here that Bank of America did not care about this. However, I just had all 9 of my Bank of America accounts closed for the SAME REASON ING GAVE!!!

I'm going to try WAMU next. This is ridiculous.

Is anyone else having problems with Banks shutting them down because money is being transferred like this? Unbelievable.
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My BOA accounts are fine and had a deposit Friday from Paypal sent under a different name. I only have 2 checking and 1 savings. All being used by Paypal under different names.

Maybe it was the 9 accounts you had with them. I mean who legitimately has 9 accounts at a bank? I'm sure some banks it's overlooked but BOA is on their game. Did you by chance apply for the 10th account recently?

Maybe 9 is the limit with them before you show up on some fraud list. Then someone looks up your account, sees the random transfers from Paypal all under different names and cancels them all.

There are sooooooooo many banks out there that you don't need to put all your eggs in one basket. Get a few local accounts and then get 2-3 more from the bank's website.

That's just assuming you have the ability and the banks in your area.
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Old 12-30-2008
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I used Bank of America fine for the past couple months. I only have one account with them. Not really sure why people need 9 checking and savings accounts though...lol
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I have to agree with Coopster72. Jadester, take some time to reflect on what you are doing. To immediately open nine accounts with one institution and start funneling money into them all from Paypal looks very suspicious.

Put yourself in the banks place. Why in the world would one person need nine accounts. This is how money gets laundered by crooks....
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Old 12-30-2008
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I know for a fact that a lot of people here have way more than 9 ebay accounts. You have to have a different bank account for each paypal/ebay account. If you have 9 ebay accounts you will need 9 bank accounts.
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Quote:
Originally Posted by jadester714 View Post
I know for a fact that a lot of people here have way more than 9 ebay accounts. You have to have a different bank account for each paypal/ebay account. If you have 9 ebay accounts you will need 9 bank accounts.
Yes that is correct. But 9 at one time? I use 2 at the most at one time to sell hundereds of items without a problem. I hope you get everything worked out though.
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You are correct. Some people may have nine bank accounts and nine eBay/PayPal accounts. They DO NOT open them all at once. Please take a deep breath and relax. We are trying to help.


Opening nine accounts at the same bank at the same time is a BIG indicator of fraud/money laundering. This is the banks rules and has nothing to do with Ebay/Paypal. Open two or three at BOA, two or three at WAMU, two or three at Wells Fargo and so on...

DO NOT open them all at once. DO NOT open them at the same location. Slow and easy and stay under the radar.
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Where did I say I opened all 9 at once? I said I started opening the accounts several weeks ago. I have never opened more than 1 account per day.

Also, due to sales volume, I need to have a lot of accounts open to be able to sell without being harassed or restricted by ebay/paypal.
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Quote:
Originally Posted by jadester714 View Post
Where did I say I opened all 9 at once? I said I started opening the accounts several weeks ago. I have never opened more than 1 account per day.

Also, due to sales volume, I need to have a lot of accounts open to be able to sell without being harassed or restricted by ebay/paypal.
Opening nine new accounts within a couple months would seem a little suspicious to me though. But I agree with miles on this one, open a few at different banks.
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Old 12-30-2008
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I use BOA every day for my Paypal deposits.
I have been using them for over 1.5 years with No problems.
I have had more then 20 different accounts with NO problems.
I currently have 11 checking & 2 Savings accounts that are running WONDERFULLY.

The only thing I can think of that has caused you problems is....
  • You opened them to fast. = Looks like Bank Fraud to them
  • You ran to much money through them to fast. = Looks like money laundering to them.
  • You used personal information that was false. = Patriotic Act Violation
  • You used your own personal information that was altered. = Patriotic Act Violation
Which point above did you qualify for?
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Quote:
Originally Posted by Here We Go Again View Post
I use BOA every day for my Paypal deposits.
I have been using them for over 1.5 years with No problems.
I have had more then 20 different accounts with NO problems.
I currently have 11 checking & 2 Savings accounts that are running WONDERFULLY.

The only thing I can think of that has caused you problems is....
  • You opened them to fast. = Looks like Bank Fraud to them
  • You ran to much money through them to fast. = Looks like money laundering to them.
  • You used personal information that was false. = Patriotic Act Violation
  • You used your own personal information that was altered. = Patriotic Act Violation
Which point above did you qualify for?
Well, option 3 and 4 are definitely not applicable to me. Define too fast or too much money?

I think I'm gonna try my local credit union and see how that goes.
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Old 12-30-2008
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jadester, I have asked you this several times before and never had an answer. Last time I am going to ask as it is getting silly (for me) to repeat the question. Why have you not chosen to have a merchant account? We all know the problems with paypal/banks. When are you going to realize what you MIGHT need to do?
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Quote:
Originally Posted by GreenBean View Post
jadester, I have asked you this several times before and never had an answer. Last time I am going to ask as it is getting silly (for me) to repeat the question. Why have you not chosen to have a merchant account? We all know the problems with paypal/banks. When are you going to realize what you MIGHT need to do?
I don't recall seeing this question before. I have tried to open a merchant account before. However, I need to be able to accept around $50,000 a month and can't qualify for that much. Suggestions?
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Quote:
Originally Posted by jadester714 View Post
I need to be able to accept around $50,000 a month
Quote:
Originally Posted by jadester714 View Post
Define too fast or too much money?
If you are trying to accept 50K a month into a few bank accounts and then move it out into different accounts that will look like money laundering to the bank in a heart beat.
It will look like money laundering to the Federal Government also.

You really need to re-think your Paypal situation and get AWAY from Paypal.
Get a Merch Account.

Get a small Merch account. Run 20K-30K a month through it to start off.

If you do not have a business license you are going to get tagged for money laundering.
Remember the US Government watches bank accounts these days. Since the Patriot Act went into effect.
They track the movement of large sums of money through the banking system.

Do not come back here and say you were never warned.....
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^^^^ Agreed. There is a post where jadester714 says that $60,000 has run through the various accounts. The truth and the whole truth is not being told here. The OP has had others suggest this in other posts.
Anyone listing 1300 items should be better prepared to get their moola. That,imo, means no paypal.
End of.
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Good God Almighty, my head is spinning. Jadester, you need to learn to receive help. 9 accounts, one a day, is in effect opening all at once in the banks' eyes. Again, relax and learn.

If you truly are skilled enough to be selling $50 to 60k a month, then learn the rules of finance and banking.

Do some research on Google and put yourself in the banks' position. As a banking manager, would you not find it suspicious that someone opens nine accounts in nine days....

WOW, in cases like this, the feds might be taking a serious look at you....
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Just to END the Jadester714 miss information that is being posted everywhere......

There is NOTHING wrong with Bank Of America.
It works just fine for 98.7% of the people who use them CORRECTLY for their Paypal accounts.
Personally I use them EVERYDAY to accept deposits from my many Stealth Paypal accounts.

No matter what anyone here tries to tell you...
ING does NOT work with Paypal to accept deposits from a Paypal Stealth Account.

What banks work with Stealth?
Bank Of America
WAMU
Wells Fargo

I know these work from personal experience.
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Wachovia and BB&T work too
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Chase works also
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Did BOA give u the remining amount in your account or did they close your accounts and keep the money that was in it like ing did with me?

Its probly best to use your real name on paypal so that away they cant have any excuse to close you cause useing alias's dose make it look like your money laundering when its a lot of money going into the account with other peoples names on it.

U might be able to use 3 names with all the same last names as your and just rotate them on paypal and if you got a common name they could never know your the same person. And if BOA start asking ?'s just make out like you let your family members or wife and kids use your accounts as well.
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Capital One works as well. And the withdrawal timing is great. On a few occasions i got the funds next day, true story
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But last I heard, Capital One will call you if the names don't match.

Is this not true?
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