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  #1  
Old 11-11-2010
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Default Got a letter from my bank for receiving payments from another name.

From Wells Fargo:

"RE: Missing Signature on Consumer or Business Account Application

Dear Cookie Monster:

Our records indicate that we do not have the appropriate signature on file for your account ending in ----.

If the enclosure is a Consumer Account Application, please have the authorized signer(s) on the account sign and return the form in the envelope provided.

If the enclosure is a Business Account Application, please have the authorized signer(s) on the account sign both the Certified/Agreed and the Authorized Signers sections and return the form in the envelope provided.

We are required to inform you that if the enclosed application is not returned to us and you continue to use this account, you agree not to hold Wells Fargo Bank responsible and to compensate Wells Fargo Bank for any deposits, checks, or withdrawals made to or from this account by any person designated as an authorized signer and whose signature has not been received by us.

If you have any questions etc..."



Is it safe to assume this is just normal security measures and I can just ignore it because the person whose making these deposits and withdrawals is basically me anyways? Deposits are obviously coming in from a stealth Paypal account that is not in my name or close to my name.
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Old 11-11-2010
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That's new.
I wonder if PP actually contacted your bank?
I'd think that that'll be the thing that triggered something like this?
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Old 11-11-2010
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Um, never assume but. Banks do internal audits. It's not unreasonable that Cookie Monster's account got flagged.

Should it be potentially (more) dangerous for your ability to get funds, the letter would be worded differently. Financial instutions have different levels of communication. That's goes on your file to protect their back.
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Old 11-11-2010
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I had something similar with one of my accounts.

I had already opened 2 accounts with them, then I opened a 3rd online, received the docs, took them to my bank signed the thing and she said that I was right to go.
Then a couple of weeks later I received basically the same sort of letter. I hadn't even used the account yet.
I took it into my bank, they had no idea why I got it or why it was needed, but I had to sign a form then they said it was so they would have my signature on computer??

Who knows, but it did make me a little nervous, but most things do these days.:>
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Old 11-11-2010
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That letter is nothing to worry about since as you say it is basically you.

However, for entertainment purposes only, check out my post here
The one time receiving deposits in another name went wrong
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