Ally Bank contacting paypal! What do I do??

[joanna4051]

I know about Ally not being a good bank, but I have been using it for about 4 years without any issues. I got an email today that my phone PIN has been changed and to call if I did not make this change. When I called, I was told there has been a "specialist" assigned to my account. When I was transferred to her, she wanted to know why I have paypal deposits from different names. I was so unprepared for this, I had no idea what to say! I said it's payments from different people. She replied that they should still be coming in under my name, and that I won't have access to my bank accounts until paypal gets back to her. She said she left them a message and is waiting for a call back. Any idea on what happens next?? Will all my paypal accounts be linked and closed? Will I get my money from Ally? This is also where my work direct deposit went ! :(

[yotano211]

wow ouch, I think you'll most likely get your money released from Ally. It might take them a few weeks for that. I dont really have a correct answer, I am only going from the experience on here.

But in the future, it's best to only make business accounts at banks for best results in deposits in mismatched names.

[mycrowman]

Best bet is say its a buisness payment coming in, they won't need to talk to paypal, but they will shut down your ally, as these account are for personal use only. You should be able to open another account but keep it "personal"..

[BiN4RY]

Originally Posted by yotano211

wow ouch, I think you'll most likely get your money released from Ally. It might take them a few weeks for that. I dont really have a correct answer, I am only going from the experience on here.

But in the future, it's best to only make business accounts at banks for best results in deposits in mismatched names.

To be honest, this is not likely to be the case. Most of the cases I've heard from banks freezing account for "multiple name mismatch" all resulted in closed accounts unless you can somehow come up with IDs and proves showing these names are from real and authorized people.

Originally Posted by mycrowman

Best bet is say its a buisness payment coming in, they won't need to talk to paypal

Don't make assumptions like that, this is not necessarily true. They can still call Paypal to validate your story.

Nontheless, I do agree with the "business use" excuse both of you guys are saying. It may not necessarily save your account, but it's a good excuse if you play it right.

For now, you should assume the paypal accounts using these bank accounts are gone. My personal experiance with bank calling paypal and vice versa never ended well.

[mycrowman]

True they still can, but they are going to be be concerned with closing down your ally account, they should't mess with your paypal.

[GreenBean]

Originally Posted by mycrowman

True they still can, but they are going to be be concerned with closing down your ally account, they should't mess with your paypal.

Any discussion with paypal might cause paypal to act.

Has happened before. Risky to think otherwise.

[joanna4051]

Thank you for the response guys. I already assumed the bank accounts are gone, and that's fine, I'm just worried about funds being released. My other dilemma, is have quite a few items that should be sent out as payments are received but if the paypal is about to be closed down, I'd rather refund the buyers and move on.

Thank you! Sharing your experience is appreciated!

[newjerseymax]

You could have been blatantly honest and tell them you use fictitious names on paypal because you don't trust them with your information.

They might have just told you its a no-no and release your money. People do these things all the time.

[dealagreeproceed]

Originally Posted by BiN4RY

For now, you should assume the paypal accounts using these bank accounts are gone. My personal experiance with bank calling paypal and vice versa never ended well.

please do share what happened... this seems like a sucky situation

[BiN4RY]

Originally Posted by dealagreeproceed

please do share what happened... this seems like a sucky situation

Paypal called one of my bank one time saying a paypal account with this bank is "suspicious" (whatever the hell that suppose so meant), and my bank ended up closing my account for that reason.

I personally have not had cases where my bank called Paypal, but I have heard stories where it ended in the same result.

[dealagreeproceed]

Originally Posted by BiN4RY

Paypal called one of my bank one time saying a paypal account with this bank is "suspicious" (whatever the hell that suppose so meant), and my bank ended up closing my account for that reason.

I personally have not had cases where my bank called Paypal, but I have heard stories where it ended in the same result.

dam pp called your bank? that's crazy/weird

[slokor]

Looks like theres another thread with a similar situation involving ALLY.
Terrible bank for stealth and is already blacklisted by paypal.
Avoid at all cost.

[GreenBean]

Originally Posted by slokor

Looks like theres another thread with a similar situation involving ALLY.
Terrible bank for stealth and is already blacklisted by paypal.
Avoid at all cost.

Bank was one of the very first ever mentioned as problematic as long ago as 2008

[Breakthecycle2]

Originally Posted by dealagreeproceed

dam pp called your bank? that's crazy/weird

How can they do that?

[Dmshark25]

Originally Posted by Breakthecycle2

How can they do that?

I think it happens more often where the Bank will contact PayPal. When mismatched names gets flagged by a bank they will sometimes put a hold on the account and than contact PayPal to find out if the owner of the PayPal account and bank account are the same.

And a lot of times the bank will accept deposit after deposit , u think everything is good, may have a few thousand deposited, and you go and make your first withdraw or transaction and that's when the Banks sirens go off and your money is on lock down,

So besides making sure your bank has a history of accepting mismatched deposits this is another reason to diversify Banks, and not have every PayPal account depositing into one Bank

Because if a problem happens than all your bank accounts under the one bank can get locked and this will put a strain on your business

[Onion]

I had a similar situation occur with Chase last year, it terrified the **** out of me. I had three checking account receiving weekly PayPal deposits from mismatched names. When I logged into my chase account it would say "Temporary Suspended, please call customer service." Called, got transferred to the fraud department, they told me I had to visit a branch to restore my accounts. Went in, spoke with a Personal Banker, got taken into the branch managers office. Manager told me i'm committing fraud, yada yada. My accounts were closed but they returned all my funds the same day.

Spread your deposits across several banks... learned that the hard way!