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Old 05-07-2010
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Default Horror! Bank account closed for linking multiple paypals

a friend of mine called and told me that her wachovia bank account was closed and money seized.

she has multiple accounts with wachovia (don't know checking or saving) , whcih are linked to her different stealth paypal/ebay accounts..

wochovia explained that since the money coming into her accounts are from different names (⊗⊗⊗⊗ names registering paypal/ebay) , they need these persons come to the bank branch to verify in order for my friend to retrieve money.

it seems that the bank concerns about money loudering or something...

anybody experienced similar things ?

I hope this is just an unusual incident..

LAST QUESTION, IS IT STILL SAFE TO COLLECT PAYMENTS FROM MULTIPLE PAYPALS (WITH ⊗⊗⊗⊗ NAMES) USING A SINGLE BANK (with its multiple accounts under the same real name)?
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Old 05-07-2010
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Some banks don't care what name money comes in with; and others don't tolerate it.

I never heard of a bank seizing funds because of different names coming in with PayPal deposits. Though I'm sure it happens all the time for other reasons.

That's why I suggest using nicknames with accounts or off names that banks don't seem to care about.

Really it depends what bank you're dealing with, most don't care.
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How much money coming in?
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Quote:
Originally Posted by pandasthumb9 View Post
a friend of mine called and told me that her wachovia bank account was closed and money seized.

she has multiple accounts with wachovia (don't know checking or saving) , whcih are linked to her different stealth paypal/ebay accounts..

wochovia explained that since the money coming into her accounts are from different names (⊗⊗⊗⊗ names registering paypal/ebay) , they need these persons come to the bank branch to verify in order for my friend to retrieve money.

it seems that the bank concerns about money loudering or something...

anybody experienced similar things ?

I hope this is just an unusual incident..

LAST QUESTION, IS IT STILL SAFE TO COLLECT PAYMENTS FROM MULTIPLE PAYPALS (WITH ⊗⊗⊗⊗ NAMES) USING A SINGLE BANK (with its multiple accounts under the same real name)?
wochavia is not a bank to use for ebay/payapl/stealth...avoid

Last edited by aspkin; 05-08-2010 at 12:03 AM.
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Old 05-07-2010
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THANK YOU!

only less than 1000 USD my friend withdrew... now the bank released money to her..but need her to upgrade to a business account and make a verification of those person with ⊗⊗⊗⊗ name as her business partner..

can you recommend a good bank which tolerate the difference of bank and paypal name....also with it you can open multiple sub-accounts online?
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Old 05-07-2010
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Quote:
Originally Posted by pandasthumb9 View Post
THANK YOU!

only less than 1000 USD my friend withdrew... now the bank released money to her..but need her to upgrade to a business account and make a verification of those person with ⊗⊗⊗⊗ name as her business partner..

can you recommend a good bank which tolerate the difference of bank and paypal name....also with it you can open multiple sub-accounts online?
boa, wells fargo, chase, ally
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Old 05-07-2010
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@nobody..... you want your name changed?

It's a 2nd hand story about a friend. The facts may or may not be accurate. If the friend has such a big problem they can join the forum.
You answered panda's question about the banks. That was enough, rest deleted. End of
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I dont know if u would have problems still or not but u can use a bussiness paypal and when depoist made to your bank it will be in your bussiness name. That would be easier to explan to the bank then why u have different names on each account that makes a deposit.
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Old 05-07-2010
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...lol I was looking for this type of information on wether to use Wachovia for stealth accounts! I guess not!!!
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Old 05-08-2010
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WAchovia is listed in the stealth guide to NOT use.

I highly recommend bank of america, chase, suntrust, US bank, HSBC online savings...

ING works very, very well, but the names have to match.
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