New paypal linking method?

BigCJ · #1 02-06-2012

So, I started a new stealth account on friday. I put in the bank and had to wait for the deposits, which hit this morning. Pretty normal, right?

Well, I also get a notice on my account saying that they micro deposits were withdrawn by paypal like 3 minutes after the deposits hit.

Are they doing this to get peoples information sooner? Anyone else have this?

very curious...

GreenBean · #2 02-06-2012

In the past 5 weeks there have been reports of this.

Which bank did you use? Not Chase by chance?

http://www.aspkin.com/forums/subscri...-problems.html

BigCJ · #3 02-06-2012

Oh wow, I didnt see that thread.
But no, it was mango money (inter national bank) Not sure if they have any connection with chase

I am going to try and make another one in another day or so with another card.

Thanks for the help GB

rsot · #4 02-06-2012

Good link to check out.

doughboykilla · #5 02-06-2012

yeah it happens on more then just chase banks i seen it on ally and metabank and its not ever paypal account that it happens to some times they take it back other times they dont. I think there doing this to get the bank acc holders first and last name so they can match it to the paypal name.

Sandy D · #6 02-06-2012

Slick.

They are really trying anything they can.

Wonder if the bank gives them the personal info when this happens.

Seems to me the bank would not be allowed to give the info. to a third party like pp.

All they should see is the money coming back.

GreenBean · #7 02-06-2012

Quote:

Originally Posted by Sandy D

Slick.

They are really trying anything they can.

Wonder if the bank gives them the personal info when this happens.

Seems to me the bank would not be allowed to give the info. to a third party like pp.

All they should see is the money coming back.

It's the actual definition of how it could be done that would need to be known to establish if laws were contravened.....
read between the lines Sandy

doughboykilla · #8 02-06-2012

I think when they w/d money from your account they can see the account holders name. just like when moneys put in your bank from Pp the bank can see the name on the paypal account. So it works vice versa. Im not 100% sure if thats why the take back the funds but it seems like a good reason to do so. Eather that or there loseing to much money due to the micro deposit which i couldnt see that begin the issue.

rsot · #9 02-07-2012

@dbk - you are right - a receipt with the name is always generated when money goes out of the bank (or into it). This would be a way of pp to check the actual name of the bank holder.

BigCJ · #10 02-07-2012

Update: Paypal has just limited my new account. I attempted to buy something and paid very fast. They then told the seller that I tried to open a dispute and when I checked the paypal, BAM, limited.

Any new ways of getting around this? I saw the thread on using the instant verify...

Update 2: I also did NOT get an email from paypal to even let me know that I was limited.

fastfire667 · #11 02-07-2012

I have noticed that paypal reverses the deposits on some of the accounts I confirm. Hasn't caused a problem though ,haven't had any limitations because of that. I think Paypal is doing this more to stop people from confirming their paypals using virtual bank accounts, which only stay active for a couple of days. As far as i can see, as long as you have legit bank accounts set up, these reversals aren't causing paypal accounts to become limited.

ovidiu · #12 02-08-2012

Remember, due to Federal law, Paypal can't see the name on a bank account. I buy on eBay all the time and pay with my bank account; they have never bothered me and I have no reason to believe they get the name on the account when they get the $$$ from my bank.

fastfire667 · #13 02-08-2012

Quote:

Originally Posted by ovidiu

Remember, due to Federal law, Paypal can't see the name on a bank account. I buy on eBay all the time and pay with my bank account; they have never bothered me and I have no reason to believe they get the name on the account when they get the $$$ from my bank.

...what law are you reffering to? Paypal can and does see the name on your bank account when used in transactions, just not when you withdraw funds to your bank account.

ovidiu · #14 02-08-2012

My PP payments show up in my bank account as "Web Authorized Pmt Paypal". I believe the law is the Bank Secrecy Act.

rsot · #15 02-08-2012

As stated before, when you send funds FROM your bank to PP, there will be a receipt generated with the sender of the money - financial policies.

bansheezone · #16 02-11-2012

So do we then agree these deposits being sent back to Paypal will lead to a limitation? thats the important question. I mean why are they doing this, it would make sense to get the name and take down the account other then to get rid of prepaid banks.