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Old 09-19-2016
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Default Bank closed because of withdrawing from paypal mismatching name

Hi guys,
I am just wondering for those people who got their bank account closed because withdrawing from paypal mismatching name. How much and often did you withdraw to get your bank account closed? I am quite scared if this would happen to me as well. My bank account just got two small deposit from mismatching pp account and is now verified. But I am still scared to withdraw. Please suggest!

Thank you
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Old 09-19-2016
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Default Re: Bank closed because of withdrawing from paypal mismatching name

You really don't have much to worry about. There are only a handful of banks which will close your accounts for that reason.

I had accounts closed at Bank of America which I was using for stealth, but it wasn't due to mismatched deposits. I wasn't leaving enough of a balance in my accounts at the time, so I looked very suspicious. I would have several thousand dollars come in over a week then withdraw all but about $100 on Monday. I did this for about 6 months before BoA flagged my account for possible fraud and closed it.

As long as you keep your bank accounts looking like the account of an average Joe, you should be fine. Regularly make purchases with your debit card, occasionally transfer money to your savings account to give the illusion you are saving money, pay bills, etc. Stuff like that. Keep it looking normal and it's highly unlikely you will have any problems with your bank.
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Old 09-19-2016
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Default Re: Bank closed because of withdrawing from paypal mismatching name

@permsin, which bank you using? Best to clarify - no need to be afraid when wise ppl here use that method
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Default Re: Bank closed because of withdrawing from paypal mismatching name

Bank of America sir!
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Old 09-20-2016
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Default Re: Bank closed because of withdrawing from paypal mismatching name

Dont go to fast either, opening 4 accounts at once and receiving deposits in 4 different names can raise flags, maybe start with 1 bank account and as mentioned keep a balance, pay bills dont just withdrawal everything right away and try not to overdraft. After you have a nice month or 2 of keeping things loooking good open your second.

Slow and steady raises less flags. Than once you have been banking with one bank for say a year with a solid history you will be able to open and close accounts more freely and withdrawal and deposit more without problems.

Kind of like the way paypal operates, new accounts have many limitations and get flagged much easier while older accounts can do much more without being questioned
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