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Old 04-17-2012
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Default New Paypal Obstacle for adding Bank Accounts (USA)

As is showing up in discussions lately, Paypal's upped the hurdles to add a stealth pp to a bank... sometimes withdrawing the micro deposits (so they can see the bank holder's name) and sometimes the deposits not going through at all.

Anyone here add a bank account to a pp account lately without prolems? What bank did you use?

Any problems going the instant-connect route, where you give them the login info for the online account (I know it doesnt sound risky, but 25+ stealth accts that I've done this with over 2 years and I never had a problem)

Or what specifically did you run into, so we can get an idea what the problem is, or where the lines are drawn... I think by comparing experiences and details we can get a better idea how to get around this.

As for me, I tried connecting an M&T bank acct to a stealth pp account, and it said it didnt recognize the bank account #, (but I put it in right, I suspect they found out somehow that the names didnt match) and the Chase account was immediately withdrawn and then the pp acct suspended, probably after they saw the names didnt match.


**Update: I see they deposited and retracted the micro payments on another Chase account, still up and running. The PP account was 6 months old.

Last edited by turnpike; 04-17-2012 at 05:38 PM. Reason: added info
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Old 04-17-2012
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no one knows the real reason for the retraction of the micro deposits. it "could" be to see the name on the account, but no one knows if they are given that info. it also "could" be because paypal is cheap and cant earn interest on the money they steal from us for 21 days anymore and wants their 14 cents back.

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Old 04-17-2012
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I have a feeling that PP is doing this also to make that the bank acct is not a VBA that will disappear after deposits are done.
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Old 04-17-2012
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Im not yet convinced why PP is doing the withdrawals.....5 years ago, no one took back their deposits. Now every single bank takes them back that ive ever signed up for. I do alot for the free bonuses on new accounts.

Maybe PP is just joining this bandwagon?
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Old 04-17-2012
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Just open a business account in that business name. Works perfect. I dont see why anyone cant simply do this.
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Old 04-17-2012
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I may be the only who thinks this but I think pp is hoping the bank or whatever you use sends them some info by mistake so they can see a name etc.

Then again pp might be wanting their 0.07 and 0.02 back.
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Old 04-18-2012
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Quote:
Originally Posted by turnpike View Post
...and the Chase account was immediately withdrawn and then the pp acct suspended, probably after they saw the names didnt match.


**Update: I see they deposited and retracted the micro payments on another Chase account, still up and running. The PP account was 6 months old.
This tells me that the first account was NOT closed due to a name mismatch. Unless the other account mentioned had the same name as the PayPal account.

Since both were from Chase, it seems to me their policies would be the same across all accounts - they wouldn't release the name on some and not others.

My guess is they are just trying to get their few cents back. It might not seems like much, but how many accounts are opened each day? THOUSANDS? Let's say they open 5,000 accounts per day, and deposit 15 cents into each account. That is $750. Chump change to PayPal, sure, but over 365 days, it adds up to $273,750. And there may be other benefits to them also, benefits we are not aware of.
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Old 04-18-2012
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My guess is they are just trying to get their few cents back. It might not seems like much, but how many accounts are opened each day? THOUSANDS? Let's say they open 5,000 accounts per day, and deposit 15 cents into each account. That is $750. Chump change to PayPal, sure, but over 365 days, it adds up to $273,750. And there may be other benefits to them also, benefits we are not aware of.

Which is funny, considering how eBay is throwing money at the eBay bucks program (I regularly earn up to $100 per quarter), yet on the other hand, PP is money-grubbing for pennies.
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Old 04-18-2012
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Quote:
Originally Posted by ovidiu View Post
My guess is they are just trying to get their few cents back. It might not seems like much, but how many accounts are opened each day? THOUSANDS? Let's say they open 5,000 accounts per day, and deposit 15 cents into each account. That is $750. Chump change to PayPal, sure, but over 365 days, it adds up to $273,750. And there may be other benefits to them also, benefits we are not aware of.

Which is funny, considering how eBay is throwing money at the eBay bucks program (I regularly earn up to $100 per quarter), yet on the other hand, PP is money-grubbing for pennies.
And, of course, I could be completely wrong. The problem in trying to analyze this stuff is that it takes awhile before we have enough data to draw an accurate conclusion.
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Maybe someone should ask the banks some questions. I would start asking at the upper level employees. Don't ask the tellers, I'm sure they won't know the answer.

I might have to call Navy Federal tomorrow to ask them that.

Last edited by yotano211; 04-18-2012 at 04:12 AM.
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Old 04-18-2012
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jeffweico - you make a good point on minimizing losses.
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I think they are truly checking for VBA paypal accounts. The ones that get flagged for being suspected of having a VBA gets the micro deposits taken back.
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Old 04-21-2012
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Quote:
Originally Posted by yotano211 View Post
I think they are truly checking for VBA paypal accounts. The ones that get flagged for being suspected of having a VBA gets the micro deposits taken back.
What made you come to this conclusion?
Where did you gather this data from and how much data?
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Old 04-21-2012
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Quote:
Originally Posted by yotano211 View Post
I think they are truly checking for VBA paypal accounts. The ones that get flagged for being suspected of having a VBA gets the micro deposits taken back.
Paypal can tell if the account is a VBA.

There's no susipcion. If paypal can 'see' a bank account number they can define
the type of account.
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Old 04-22-2012
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I still think it is about recovering the money. If they can spend maybe $50k to recover the $270k, then it is a no-brainer as a business decision. If it would cost them $500k to recover the $270k, they would leave it alone. Technology gets better every day. Maybe this was something that was not cost effective in the past, but someone came up with a cheap solution that made it cost effective.

Again, this is just an educated guess on my part. I have no insider knowledge here.
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Old 04-22-2012
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Or they just decided to change their policy and take the deposits back, now, and save some $$$$. No reason I can see that it would not be possible in the past, but be possible now.
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Old 04-24-2012
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Quote:
Originally Posted by jeffweico View Post
I still think it is about recovering the money. If they can spend maybe $50k to recover the $270k, then it is a no-brainer as a business decision. If it would cost them $500k to recover the $270k, they would leave it alone. Technology gets better every day. Maybe this was something that was not cost effective in the past, but someone came up with a cheap solution that made it cost effective.

Again, this is just an educated guess on my part. I have no insider knowledge here.
I think this is all it is. I dont get why everyone is flipping out. All banks do this now. 270k is alot of money when you need to watch every dollar going out.

If they wanted to match names, they could also pull that info if you instantly link an account.
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Old 04-24-2012
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Im agreeing on this as being a recovery for there money. I mean it does make complete sense that someone would want there money back that they just gave you for verification only. Its probably some executive that figures thats a perfect way for them to add a bonus to there paycheck haha
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Old 04-24-2012
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Every account I have with micro deposits taken back is still up and running with transfers to the account weekly. If they are doing it to catch mismatched names then they are doing a terrible job. Why only go half way? Its just not a logical conclusion.

Now taking money back for financial reasons sounds a bit more up the right alley.

Could be another reason not yet known...
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Old 04-26-2012
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Quote:
Originally Posted by newjerseymax View Post
Now taking money back for financial reasons sounds a bit more up the right alley.
I'm inclined to think so too.
Are they doing this consistently to every account now?
Or is it sporadic...
I find it hard to apply the word "consistent" to anything that EB and PP does, but well, where money is concerned, who know?
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Old 04-29-2012
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I think it could be two reasons.

One they are hoping the bank screws up and sends them some info or

as in any large business pennies do count.

Pennies add up big time when you are dealing with massive amounts of accounts.

Does not take long for thousands of new accounts daily for 0.10 and 0.25 to add up.

Come on people I have buyers who told me to return their 0.15 overpayment for shipping charges.
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Old 04-30-2012
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Quote:
Originally Posted by Sandy D View Post
Come on people I have buyers who told me to return their 0.15 overpayment for shipping charges.
How did they work that out?
How would they know how much you paid for packaging and labour costs??
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