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Old 08-16-2016
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Default The most suitable banks for withdrawing money from paypal

Hi, I'm new to apskin but was heard a lot of good things about this forum. And now I see many people here who know their business.
I'm puzzled by one small problem with my Paypal account.
My USA bank account and my USA paypal account have different names, and I am afraid that when the money will be credited to my bank account, the bank can see different names and will freeze the payment (That will undoubtedly lead to a problem with the bank and the loss of money). But I know that in USA not all banks verify names on paypal and bank accounts.
Can you help me and give advice what bank will be more reliable for withdrawal money from paypal when name are different on both accounts.
Thanks!
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Old 08-16-2016
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Default Re: The most suitable banks for withdrawing money from paypal

Wells Fargo
Chase
Bank of America
US Bank
Some Credit Unions

Others will chime in.....
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Default Re: The most suitable banks for withdrawing money from paypal

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Originally Posted by MM78 View Post
Wells Fargo
Chase
Bank of America
US Bank
Some Credit Unions

Others will chime in.....
Thanks for answer!
But what about less popular banks which is not verify the names, too?
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Old 08-16-2016
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Default Re: The most suitable banks for withdrawing money from paypal

Most banks don't care.. well, most BIG banks don't care.

You'll start running into issues when you're dealing with smaller banks or internet only banks which see deposits under different names as a RED flag.

In the US, banking and withdrawing funds is not so much an issue.
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Old 08-16-2016
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Default Re: The most suitable banks for withdrawing money from paypal

Quote:
Originally Posted by optimus12 View Post
Thanks for answer!
But what about less popular banks which is not verify the names, too?
You can try doing a forum search and/or testing the banks yourself.
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Old 08-16-2016
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Default Re: The most suitable banks for withdrawing money from paypal

USA has more than 7000 independat banking companies including credit unions and business banks. Almost non care about matching names. You will not find a single thread on this forum about a credit union or small local bank caring about mismatched name deposits.

A few bigger banks do and virtually all online banks do(because drug dealers and criminals abused it already)

The best bank? It most likely is the smallest local bank or credit union in your area. Only one way to know for sure....
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Default Re: The most suitable banks for withdrawing money from paypal

I can tell you with 100% assurity that BOA could care less about account names matching and Paypal cant tell what name is on the account or if the account is a savings or a checking account.

I have one BOA Checking account but then I have five seperate savings accounts under it one BOA Savings account for each of my five paypal accounts

Just use your Checking routing number and your savings account number and paypal will see your savings account as a checking account and BOA will open as many Savings accounts as you like and it only takes about 5 min and you can do it on the phone once the checking account is set up.

FYI - I run a lot of money through these accounts and have for the last five years BOA doesn't care and Paypal dosn't know they are all linked to me

Hope this helps someone

Last edited by tom191; 08-16-2016 at 09:38 PM.
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Old 08-16-2016
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Default Re: The most suitable banks for withdrawing money from paypal

Quote:
Originally Posted by tom191 View Post
I can tell you with 100% assurity that BOA could care less about account names matching and Paypal cant tell what name is on the account or if the account is a savings or a checking account.

I have one BOA Checking account but then I have five seperate savings accounts under it one BOA Savings account for each of my five paypal accounts

Just use your Checking routing number and your savings account number and paypal will see your savings account as a checking account and BOA will open as many Savings accounts as you like and it only takes about 5 min and you can do it on the phone once the checking account is set up.

FYI - I run a lot of money through these accounts and have for the last five years BOA doesn't care and Paypal dosn't know they are all linked to me

Hope this helps someone
Is this a social experiment?
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Default Re: The most suitable banks for withdrawing money from paypal

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Originally Posted by nate View Post
Is this a social experiment?
I don't understand the question?
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Old 08-16-2016
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Default Re: The most suitable banks for withdrawing money from paypal

Quote:
Originally Posted by tom191 View Post
I don't understand the question?
ever hear the expression don't keep all your eggs in one basket. i think that might apply here. not saying it cant work. but i've only been here a little while and have read a number of post where people had problems with the set up your using. everything is a calculated risk but that many accounts with mismatched names increases the chances of having problems... maybe that was the point of your reply... but basically i was saying i personally wouldn't try it.
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Old 08-17-2016
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Default Re: The most suitable banks for withdrawing money from paypal

Quote:
Originally Posted by nate View Post
ever hear the expression don't keep all your eggs in one basket. i think that might apply here. not saying it cant work. but i've only been here a little while and have read a number of post where people had problems with the set up your using. everything is a calculated risk but that many accounts with mismatched names increases the chances of having problems... maybe that was the point of your reply... but basically i was saying i personally wouldn't try it.
IT is a good idea to spread bank accounts and build nice relations with several institutions if possible
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Old 08-17-2016
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Default Re: The most suitable banks for withdrawing money from paypal

Some reports of BofA closing accounts for moving to much money through personal accounts.
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Old 08-21-2016
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Default Re: The most suitable banks for withdrawing money from paypal

Quote:
Originally Posted by nate View Post
ever hear the expression don't keep all your eggs in one basket. i think that might apply here. not saying it cant work. but i've only been here a little while and have read a number of post where people had problems with the set up your using. everything is a calculated risk but that many accounts with mismatched names increases the chances of having problems... maybe that was the point of your reply... but basically i was saying i personally wouldn't try it.
Oh now I understand what you meant!

Yes I wholeheartedly agree with you and on my new stealth accounts I do use different banks I just used this experience to illustrate that BOA works great.
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