Confirming Bank with deposits on PP question?

TheRevolver · #1 03-23-2013

Well, I finally gave in and added a BA to one of my 10/1000 stealths. I was going to wait until the limits raised before I added one but the balance is just getting too high.

I've added many banks in the past and know how the process works but I have a question.

I know Paypal can't see the name on the Bank unless somehow the bank is used for a purchase or a refund/fees come in and there's not enough in the account to cover it.

My question is, what about the deposits they take back? Isn't this a form of debit from PP to the bank?

What keeps them from seeing the name on the account when they take back the two small deposits?

I've wondered this for a while now but I'm just now getting around to asking. I haven't seen anything here on the forum referring to this matter.

Thanks!

Sandy D · #2 03-23-2013

Yes it has been discussed.

Neat little trick they are trying with the banks to see if the banks are stupid enough to send them the info.

By law they are not allowed to share but I believe someone here posted a long while back the bank they were using did share the name when it came back and the account got limited.

PP believes they are above the law and if the stupid bank lets this happen then the account is most likely gone.

Most "real" banks I am sure wont let pp suck them for info. Some of the idiot banks wont even care or know what pp is up to.

TheRevolver · #3 03-23-2013

Very good info Sandy, thanks!

Sandy D · #4 03-23-2013

Quote:

Originally Posted by TheRevolver

Very good info Sandy, thanks!

You are welcome.

rsot · #5 03-30-2013

Quote:

: Neat little trick they are trying with the banks to see if the banks are stupid enough to send them the info.

Just clarifying that the bank will send the name of the money sender for reporting purposes and to product the receipt of sending. It is STANDARD policy

zoneout · #6 03-31-2013

@rsot, so what you are implying is that using the bank deposit method is not a good choice for verifying pp? Any other viable methods?

TheRevolver · #7 03-31-2013

Quote:

Originally Posted by rsot

Quote: Neat little trick they are trying with the banks to see if the banks are stupid enough to send them the info.

Just clarifying that the bank will send the name of the money sender for reporting purposes and to product the receipt of sending. It is STANDARD policy

So, are you saying they do see the name when they take the deposits back?

If this is the case then are we ever really stealth? Seems they'd have our names from the beginning if this were the case.

Do you have any more info on this?

MM78 · #8 03-31-2013

Quote:

Originally Posted by TheRevolver

So, are you saying they do see the name when they take the deposits back?

If this is the case then are we ever really stealth? Seems they'd have our names from the beginning if this were the case.

Do you have any more info on this?

Paypal has taken back many of my micro-deposits and as far as I can tell Nothing has happened, that's not to say they have seen my name but who knows.

The Problem is...We have no idea if they can/can't...Were never 100% fully stealth, we can only be stealth to a point really.

If you really feel worried about your bank account, I would suggest the following:
Once you receive a payment, withdraw maybe $25-$30...let the money hit your bank, wait a little while and see if the bank doesn't close/block your account. Also I am sure Paypal would be more than happy to send you a notice if they some how saw your real name on the bank account too!

TheRevolver · #9 03-31-2013

Quote:

Originally Posted by MM78

Paypal has taken back many of my micro-deposits and as far as I can tell Nothing has happened, that's not to say they have seen my name but who knows.

The Problem is...We have no idea if they can/can't...Were never 100% fully stealth, we can only be stealth to a point really.

If you really feel worried about your bank account, I would suggest the following:
Once you receive a payment, withdraw maybe $25-$30...let the money hit your bank, wait a little while and see if the bank doesn't close/block your account. Also I am sure Paypal would be more than happy to send you a notice if they some how saw your real name on the bank account too!

I'm not really worried about it, if it were a problem, I'm sure we would all know it. I was just curious how that works.

Also, why would the bank close the account? What does this have to do with Paypal seeing the real name? You lost me there.

I've also never had a problem with the 2 small deposits, or any deposit to any one of the banks I use.

I don't see any bank having a problem anyways. If your stealth PP is a business account, they don't see the name on the PP, they only see the business name, correct? So this wouldn't be a problem for them because the names can't match if the deposit is showing a business name.

Isn't this the case for business and premiere or just business?

rsot · #10 04-04-2013

I dont want to cause alarms but this policy is in effect for years.

Whenever a bank sends OUT money for anything - there is a receipt that is produced (Like when you buy something, there is a receipt slip). This is part of the financial activity world.

On that receipt (electronic or physical), the name of the bank account holder is SHOWN. So in that respect, you cannot be 100% stealth if you use your own bank account and funds are UPLOADED.

This does not mean PP automatically will shut you down BUT if you are manually audited, sure it could cause alarms. If you get investigated for fraud or something heavier, yes they can track the bank account.

This all being said...you should try to avoid UPLOADING funds from your bank account. When pp takes out the deposits, yes they will see the name because the bank is sending OUT funds...even if pennies.

Just to clarify - take this info for what it's worth. It's the financial atmosphere norm.

MessWithTheBull · #11 04-04-2013

This is a really interesting point. So many of of do this by adding the personal account. Agree on the uploading, but I have never heard of an account getting limited right after the deposit/withdrawal. My be fully automated on their side they look for.

Also when confirming bank accounts, I see there are two options. One to give them your login etc for the web part if they are a partner and the other as the deposits. I have been to nervous to give them credentials. Has anyone done that under a stealth?

GreenBean · #12 04-05-2013

Quote:

Originally Posted by rsot

Just clarifying that the bank will send the name of the money sender for reporting purposes and to product the receipt of sending. It is STANDARD policy

Could you please re-do in a tongue we all understand.

GreenBean · #13 04-05-2013

Quote:

Originally Posted by zoneout

@rsot, so what you are implying is that using the bank deposit method is not a good choice for verifying pp? Any other viable methods?

Questions on this have flowed around the forum since we started in 2007.

aspkin got the info down to a reasonable working manner.

In the ebook and on the forum he suggests either using the bank deposit method or the sign in with password.

It's a given that the account holder name can turn up on paperwork.
Confirmed reports of users being limited because of name variations is less than TWENTY. This is out of an active database of some 3,000 users.

Those users who got stung also had far more dangerous markers on their accounts at time of limitation. Should more users have had issues, there would be far more threads of grave concern.

Read rsot's 2nd post of explanation.

The choice is for a user to select a bank that works for stealth.

The choice is for a user to use that bank to conform with that banks' rules.

It's user variation that cause break ups of methods in the majority of cases.

Apply sense to get your stealth funds.

MessWithTheBull · #14 04-05-2013

What about Ebay fee's? I have set it to auto-pay out of Paypal. I plan on always leaving enough to cover fee's. But what happens if your payment goes over and needs to withdrawal from the bank account? Does this present an issue? RSOT? GB?

moneyhustler88 · #15 04-05-2013

I've had my fees go over and it's never caused an issue. I even on a stealth in a totally different name had a transaction come from the bank completely and out via direct debit and no problems. Perhaps i was lucky, but i'd say the best advice is what I read once before. always leave double the amount of the transaction in that way paypal feel safe = you know you've got no worries and on top of that..once your feedbacks done your safe

rsot · #16 04-05-2013

Quote:

Originally Posted by GreenBean™

Could you please re-do in a tongue we all understand.

I know - "product" should have read "produce" ...produce the receipt....

Sandy D · #17 04-05-2013

Quote:

Originally Posted by MessWithTheBull

What about Ebay fee's? I have set it to auto-pay out of Paypal. I plan on always leaving enough to cover fee's. But what happens if your payment goes over and needs to withdrawal from the bank account? Does this present an issue? RSOT? GB?

I would not let this happen often.

If it does get it paid asap.

Can cause you an issue but plan to never let it happen by leaving enough to cover fees and a couple refunds or so.

GreenBean · #18 04-05-2013

Quote:

Originally Posted by MessWithTheBull

What about Ebay fee's? I have set it to auto-pay out of Paypal. I plan on always leaving enough to cover fee's. But what happens if your payment goes over and needs to withdrawal from the bank account? Does this present an issue? RSOT? GB?

I never ever NEVER allow paypal to touch anything but the minimum amount of money.

Hell will freeze over before I allow paypal to 'pull' funds for ebay fees.

Done that forever. Never have the issue of paypal looking at my account more than I want.
Opinions vary. I prefer total control.

http://www.aspkin.com/forums/ebay-di...do-safely.html