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Paypal questions when adding bank account
 

Just have some quick questions i need answering before i take the plunge if anybody can help me please.

I have a stealth Ebay thats 16 months old. very high selling limits, high 100% feedback and no low ratings.
I am using my grans Paypal that she allowed me to and have been for 14 months. (my own was closed down that was linked to this ebay but never affected it)

The paypal is aged and has all limits removed etc, has had a high volume going through it, long term, without issues.
She doesn't want to keep transferring me the funds anymore and i have been told on here i can add my own brand new bank account to it instead. :doh:

1. So this has to be my account and sort but under her name on paypal right?

2. When people talk about mismatching names with the bank, is that because paypal deposit it as "grans name-my details" so it confuses the bank? Will this cause any issues going forward or legally? I'm with barclays now, current account?

3. I've seen some threads about the ebay and paypal needing the same stealth details. Mine never have been? My ebay is in my real name and new business address, my paypal in my grans details...? Always has been

Re: Paypal questions when adding bank account
 

https://www.aspkin.com/forums/introd...ce-please.html

I added your intro thread. We can work off it too.

Take deep breaths as you wait for replies ;)



Right at the moment, I am truly reading your other thread. I promise to come back and read this one. Then I also promise to reply.

That said, Welcome to the forum. I am impressed you are asking questions before making errors. Very wise indeed. Hang in there, and we will do our best to help.

:cheer:

Re: Paypal questions when adding bank account
 

Thank you so much Greenbean :yar:

Re: Paypal questions when adding bank account
 

1. Add your sort code and account number to paypal. Withdraw to your bank like nornal.

2. Mistmatching names refers to the name used on paypal (your grans name) and the name on your bank account (your name) a barclays current account should work fine.

Some banks dont approve of mismatching names, but most are fine with it.

3. Its better to have both the same, but it can work with different details, as you can see from your own experience.

Re: Paypal questions when adding bank account
 

Thank you very much for the response! That's very helpful. I'm just very nervous as i have a couple of members of staff and quite a large business now, i'm terrified it will go wrong!

Just a couple of other questions if yourself or anybody else knows the answer....

1. I don't use paypal for anything other than ebay purchases and paying fees and won't be changing to anything else. I've never added funds from the bank and I've never added a card to it, this clearly hasn't affected it or has been needed? would i need to do this going forward?

2. I'm worried about the direct debit mandate issue people have posted about? What is that and when/why is it needed? I don't know if ive come across that before and what happens if i need to?

3. Does the above question refer to the payment of ebay fees? if so, let me explain my worry....
My monthly fees are quite high so i purposefully withdraw just too much from paypal when they're due so they bounce (this gives me an extra 2 weeks or so to pay them and chip away. dicing with fire i know!) but i've been doing this every month for over a year now to have that extra breathing space.
When the fees bounce, each month it unhooks my paypal and doesn't allow me to proceed with listing until i re-add the paypal account. Is this where the direct debit agreement hooks up again?? and are checks done each time i re-add the paypal to ebay?

My final questions before i go ahead and change over to new bank account :bolt: