Will bank eventually pay attention if name not matching all the time?
I have a bank account opened only for Paypal usage. Although the bank (Wells Fargo) is fine with names not matching, I still wonder if the incoming funds come from another name ALL THE TIME (every week, every month, and every time) WITHOUT any other transactions under my real name, will the bank eventually pay attention to my account and do something?
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I've used Wells extensively in the past. Never had a problem. It's doubtful that they care. A lot of banks literally only capture the routing and account number and see nothing else.
If the bank did see something and you got a call, you could always try saying that the person is just your business partner.
If you think logically there are millions of transactions made every day. If a particular bank only uses numbers to direct the flow of cash as opposed to names they will never have reason to look at you. If they use names get a new bank
If you process deposits once a week or biweekly they won't catch you, now if you get deposits more than once a week they'll notice you're probably using a personal account for business and when they look closely and they'll see deposits coming under different names, that will be a red flag and most likely they'll close your account.
If you process deposits once a week or biweekly they won't catch you, now if you get deposits more than once a week they'll notice you're probably using a personal account for business and when they look closely and they'll see deposits coming under different names, that will be a red flag and most likely they'll close your account.
Do you have anything else possibly to add? I'm not buying this besides the obvious.
Citi closed a couple of my personal accounts for getting about 3 or 4 deposits a week, they stated that I was withouth a doubt using theaccount for business and also credits were coming in a different name.
If you don't want to have any issues long term, just process no more than one deposit a week or open a business account
Just those two accounts :-) I have most of my other business accounts with them and I try to open accounts with small banks for everything related with ebay/amazon
I have been extremely nervous lately because of just this. Does anyone have any input on what happens to an individual if they see this during an audit?
I have been extremely nervous lately because of just this. Does anyone have any input on what happens to an individual if they see this during an audit?
Audit team clears the matter in house ( themselves) or refers to the relevant Fraud Section of the bank.
Deciding factor is the monetary value of transfers
Oviously this is very broad in interpretation but should give an idea.
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Will bank eventually pay attention if name not matching all the time? 
