I buy an account here; add bank account w/ diff name later?

[swbluto]

I'm thinking about buying an ebay+paypal user on here in the marketplace, but I'm unclear about how exactly one would go about adding a bank account to the paypal. Wouldn't the bank account have a different name than the name on the paypal account (I can't just choose any name on the bank account I want, right? Has to be my name?)? I don't totally understand how you're supposed to get the cash out of the paypal account when you buy a user in the marketplace.

[MM78]

U need to get the Stealth Ebook. When you add your Bank....PayPal CANNOT see the Name, Address, your underwear. All they see is the Routing/Account Number.

[swbluto]

So, paypal never verifies the name on any of the bank accounts? Does paypal verify the name on the VBA first, so that's why it never checks the name on future accounts? But, what if I add the bank account to verify the paypal without a VBA - does paypal check the name on the bank account?

I swear there was a list of banks that paypal required matching names in the book.

Let's see, it says:

Ing Direct
Capital One
Wachovia

So none of the other banks need a matching name because paypal doesn't check/know? (Then why is Capital 360 blacklisted by paypal?)

Yes, I already have 'the book', but I'm a little unclear on the details. I get the impression the name on the bank account must match the name on the paypal for one reason or another - whether it's paypal verifying the bank account initially or the bank verifying the transfer has 'matching names'. Is that completely wrong?

Oh yes, the book says that paypal asks for the name on the bank account. But, I guess they can't check/verify like the book says?

[ebayerOG]

you are correct, paypal never verifies the name on the bank- on ANY bank

those are BANKS that require matching names as banks. not paypal

we recommend PNC, Chase, and BOFA

[swbluto]

So the paypal 'verifying' the bank account just verifies you have access to the bank account (And presumably own it) to see the deposits, but it doesn't verify the same names on the accounts? So, I don't need a VBA, I can just use a regular savings/checking account?

[MM78]

Originally Posted by swbluto

So, paypal never verifies the name on any of the bank accounts?

There are some circumstances where it might be able too....but not when you add the Bank Account. As long as you DON'T try to upload funds from the bank to the Paypal you will be fine.

Does paypal verify the name on the VBA first, so that's why it never checks the name on future accounts? But, what if I add the bank account to verify the paypal without a VBA - does paypal check the name on the bank account?

Same principle applies to VBA's, you DON'T need to add a VBA first but we recommend to do so, this way you can be fully verified while your selling. Again, PayPal initially does NOT verify names on the Bank Accounts.

I swear there was a list of banks that paypal required matching names in the book.

Let's see:

Ing Direct
Capital One
Wachovia

Perhaps it would be best to concentrate on the banks that DO work. Some are Chase, U.S. Bank, BOA, Wells Fargo, and many more than can be found by doing an "Advanced Search".

So none of the other banks need a matching name because paypal doesn't check/know?

You have to do your homework, there are tons of post on which banks work and which don't. Also, sometimes we have to be big boys/girls and do our own research, that means you MAY have to test a bank yourself.

[swbluto]

The last time I did testing, I burned a IP/phone and ate the costs. So, I'm doing all the legwork I can before my next test. This is legwork.

Anyhoo, thanks! This could be a little prickly, since I was planning on putting money on the paypal account.

[MM78]

Originally Posted by swbluto

The last time I did testing, I burned a IP/phone and ate the costs. So, I'm doing all the legwork I can before my next test. This is legwork.

Trust me, many of us have burned a lot more.....

Anyhoo, thanks! This could be a little prickly, since I was planning on putting money on the paypal account.

For what purpose were you planning to put money on the PayPal?

[dealagreeproceed]

Originally Posted by swbluto

I was planning on putting money on the paypal account.

y any1 would want to do this is beyond me. pp the last place you want your money sitting!!!

[swbluto]

For paypal fees. Sell a bunch of 1-cent items on ebay to build feedback, but paypal's 30 cent fee would leave a negative hit on the account, so I'd have an initial deposit to buffer that.

[MM78]

Originally Posted by swbluto

For paypal fees.

Pay your fee's with the money from sales.

Sell a bunch of 1-cent items on ebay to build feedback, but paypal's 30 cent fee would leave a negative hit on the account, so I'd have an initial deposit to buffer that.

Holly FudgeBalls...that's a bad idea, Your going to destroy the Account(s) faster than you can get those listings online. Things have changed, List real items at real prices.

[swbluto]

Eventually I would list real items at real prices, but to build up the magical 10 seller feedback first, I don't think ebay has a problem with 1-cent auctions? Seems like they encourage it.

I wonder. If I get a personal paypal account, does paypal still take out 30-cents from an ebay sale that someone pays with a credit card?

I suppose I could sell something substantial first to get money in the account, and then sell the 1-centers to build the first 10 feedback.

[bornlazy]

Originally Posted by swbluto

Eventually I would list real items at real prices, but to build up the magical 10 seller feedback first, I don't think ebay has a problem with 1-cent auctions? Seems like they encourage it.

Where do you see ebay encouraging this for new sellers?

[plumsake2]

It depends on the items that you're selling for that starting price. If it's something like eBooks, or any other digital item that people like to use for building feedback - don't do it. They're far too risky nowadays.

If it's some sort of used household item that you want to start the price at 1 cent.. go for it. Still, I personally never do 1 cent auctions - at least not on new accounts. I just feel that starting an auction at 1 cent is a tip/trick that a veteran knows and that your average new eBay seller wouldn't necessarily know to do.

Originally Posted by swbluto

I suppose I could sell something substantial first to get money in the account, and then sell the 1-centers to build the first 10 feedback.

Definitely don't do this. If by substantial, you mean something expensive - that's a huge nono for a new account. A big ticket item as your first item can lead to an indefinite suspension or restriction, and having your first Paypal payment as a large amount is trouble as well.

You want to build both accounts up slowly. No expensive items, no risky name brands, nothing against eBay's ToS, etc.

Just look around your house for old used stuff you don't want, or check out your local dollar store for cheap items to resell that won't get your account in trouble.

[austyn12x]

Wait 3 months then add a bank, you need to buy the stealth it will give you a list of banks that don't care about diffrent names.

[rsot]

Originally Posted by austyn12x

Wait 3 months then add a bank, you need to buy the stealth it will give you a list of banks that don't care about diffrent names.

Why 3 months?