Paypal is requesting THE NAME ON THE BANK ACCOUNT. ??? Help???

waterproof · #1 10-02-2009

To all....Good Morning!

Anyway, I was in transaction or the beginning stages of my S. Paypal account. I have always began with a business account to be more private. Well, in order to go through the steps necessary, you WILL HAVE TO GIVE THE NAME ON THE BANK ACCOUNT FOR A BUSINESS ACCOUNT. Man!

Is this something new? I have no idea if you need the same information for a Premier Account or what, but the name on the Bank Account was asked for. I have asked and have read several times in many posts/threads that it was not necessary

I'll try again, differently

, and will let you all know what the 411 is.

later
h20proof

upsidedown · #2 10-02-2009

That is certainly something new but I'm sure that stealth should work since paypal shouldn't be able to see the name on the account anyway. Any other inputs?

waterproof · #3 10-03-2009

Okay...I went back into Paypal and for a Paypal Business account you are required to:
1. Bank Name
2. Account and Routing #'s
3. Name associated with the Bank Account.....3 to 5 business days.

I Went into Personal and Premier Accounts and is not necessary.

Anyway, before I give my info. I thought I should wait for some feedback. Heck, I've waited 6 months...why not another day?

ha

Thanks!
h20 proof

flowerpower · #4 10-03-2009

Wait, doesn't PayPal always ask for your bank name, account and routing #? But you're probably referring to something else.

Do you have a screenshot? I just opened a premiere account and had to input the information. If it's something different, ignore me..it's late. :P

oompaloompa · #5 10-03-2009

they want name on bank, but they cannot check it right? So cant you say its in the business name or whatever name you choose and maybe they will ask you for proof,
like a copy of bank statement which you can be creative about. Ive been asked for bank statement when limited before and provided it...

aking · #6 10-07-2009

Why not just open a Premier account? I dont know about a business account, but for Premier all you need is the bank name, Routing # and Acct number. Log in and its verified in 10 seconds.

waterproof · #7 10-07-2009

I have always opened a business account so that when I send invoices my name is not shown on the invoice, only my business name and thats for more private things I sell on the side, other than the norm.
Can you downgrade to a premier? Too late for that I guess?

Hottest_eBay_Goddess · #8 10-08-2009

They can't check the name on the account so you should just put the stealth name associated with the paypal account...

waterproof · #9 10-13-2009

Just wanted to thank everyone for there reply! My stealth name, when entered on PP, did go through just fine and I recieved the 2 deposits. I entered them and I was verified just like that!
So as you all know, and a note to all who are new to the forum or have the same question, the name you enter on Paypal IS NOT checked, by your bank, OR to be on the safe side, should I say almost all banks because there may be 1 or 2 out there that will. I have delt with Banks and Credit Unions and have never had a problem.

webguy · #10 10-13-2009

Everyone says that Paypal doesn't know the name on your bank account.

Be that this is true and for now this is a loophole; what is happening is that Paypal is working to get all of the credit card companies (that we use as bank accounts) and all of the real banks to cooperate with them in the sense to not complete any transfer of funds to an account that doesn't match the name of the Paypal account the funds were sent from.

This is a fact, and is in effect for a few debit cards we used to use for accounts but thankfully no bank accounts I am aware of.

Like netspend and metabank that is already blacklisted, and I have had the same problems with rushcard and others. They are and will get to them all. It's inevitable.

What I'm saying is that for now, it's the debit card companies that are doing what eBay says, and not the Banks. It has nothing to do with the banks. It's the card companies that hold your transactions because Paypal asked them to.

But soon, It will be this way with any card, and bank, and we will all be screwed. Guaranteed.

Tell me you don't think that eventually they will cover every angle? I can't believe they haven't done it already!

The only way to open an account will be to use a friends name with real info. Watch!

ebay/paypal----> You're straight up thiefs!!

Have a great evening,

WebGuy

doughboykilla · #11 10-14-2009

I belive it will always be a loop hole cause it is illegal for a bank to give out any personal info to other Co.s like paypal and any one else and your full name would fall under personal info! So i dout pp would every get this info legaly unless that law is changed.

And the banks listed above is not black listed? i use them just fine! i think it depends on what your saleing which will give u problems with this kinda banks. But if ur selling illegal items in the first place u will have problems with paypal sooner or later.

and wosre comes to worse and you do have to use your real name heck think of people with common names like me :D i had like 30000+ with the same first and last name as mine in the usa lol there was a site that you could check this but i cant remeber the url. But as for others with not so common names would have to find other means but i dout u would have to worry about this for a long time.

inverser · #12 10-14-2009

Quote:

Originally Posted by doughboykilla

I belive it will always be a loop hole cause it is illegal for a bank to give out any personal info to other Co.s like paypal and any one else and your full name would fall under personal info! So i dout pp would every get this info legaly unless that law is changed.

I think you're right, for the time being. That is, until PayPal becomes a full-fledged bank. I'm sure they are putting it off as long as they can because there's a lot more red tape involved with becoming and operating as a bank. PayPal would have to clean up a lot of its act. But at the same time, it would be able to easily close this loophole.

Try to buy something with a credit card and use the wrong name or address and it almost certainly won't go through. Is anyone's information really being given out, per se? Or is it just being matched up and compared and authorized?

doughboykilla · #13 10-14-2009

I always been able to use a credit card on any name as long as it had the right address on it.

and payal can not match address on paypal to the address on the bank account this would be volitating the privacy act for sure.

credit cards use AVS and that only checks certin this like zip code and house # i think u could live at 103 aspink way suit 223 la ca 90210 and put it as house 103 aspkin wayy s 223 la ca 90210 and it would work cause as long as it said 103 and 90210 nothing else has to match not even the names.

inverser · #14 10-14-2009

Quote:

Originally Posted by doughboykilla

and payal can not match address on paypal to the address on the bank account this would be volitating the privacy act for sure.

I think the question is how long will this loophole last...?

Are you suggesting it will last forever?

doughboykilla · #15 10-14-2009

I dont think its a loophole cause as long as the bank privacy act is in effect paypal can not obtain any personal info from a bank. Unless they do it illegal which i would'nt dout it any paypal has been know to have mafia style tactics.

waterproof · #16 10-18-2009

Thank you so much Inverser & Doughboykilla for your replies! Not only do you two go into the topic, explecitly, you both have meaningful and careing opinions, which usualy nail the questions.
Good job and thanks!
waterproof

inverser · #17 10-18-2009

Quote:

Originally Posted by doughboykilla

I dont think its a loophole...

Why don't ING accounts work with stealth PayPal accounts anymore?

doughboykilla · #18 10-18-2009

ING works just fine u just got to have your paypal name matching the name on the ing account. ING can see the name of the person the money is deposited from which if money is coming from paypal and your real name on the ing account is jason bowmen then when paypal puts the money in it shows ING the depoist amount and lets say your stelth name Sherry rogers then ing will wonder who sherry rogers is and why is there money getting put into your account. Alot of banks now days wont let people with unmatching names put money in the bank accounts.

Only way paypal could ever see your real bank name is if u made a ACH depoist from your bank into your paypal but paypal dosent have a checking account # and routing # for people to do this with.

only reason ing is throwing a hissy about missmatching names is cause they know people was useing it for paypal and i belive a imforment at paypal called them up made up a bunch of lies about us so called scammers and theifs useing it to access multiple paypal accounts and thats why ING wont let people use it with miss matching names and if your ING gets closed with money in there guess what! ING keeps your money!

Its best if u find any good sites like ing dont spread the word around cause if to many people find out then paypal will find out then it will end up just like ing did.