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Paypal Withdrawal
 

Hi I am new to this board:D !!

I opened a new pay pal account in stealth , but i used a different name on the account and is also different to my bank account name. I am using royal bank of Scotland current account but none of the chaps payments are going into my bank account they keep bouncing back.

Help!!

Name don't matter.

What do you mean "Chaps payments"?

I understand the definition of Chaps, but PP do not use Chaps. They use BAC via JP Morgan Chase for UK users.

Paypal have 2 types of withdrawals one is chap sent same day which cost £5 and the other is bac take 3 day to come into bank accounts. I got the email below

We are sorry. We could not complete your request to withdraw funds from your PayPal account to your bank account. We returned the money to your PayPal account.
Request date: Oct 10, 2011 12:xx PDT
Amount: xxxx GBP
Funds might be returned because:
- The bank account number doesn't exist or is incorrect
- The bank branch listed in your PayPal account does not exist
- Other reasons not specified by the bank

paypal have automatically found my branch location using the sort code. The account number and sort code is correct . I opened this account last week so could that be a problem . I put £100 from my other account and it went in same day.

The BAC payment from PP can take as little as 2 days to arrive. It happens quite often on a lot of my accounts.

The CHAPS payment sounds like a real nightmare. I have heard stories all over this forum from respected members on how it always gets returned.

Personally, I would never touch it.

Seems very hit and miss. They even snatch the £5.00 permanetly, am I right? :rant:

Thanks for replying. Actually I think paypal are very good at refunding the £5. I found out that when paypal send chap they can be refused due to the name on the account if i use for example my name is voice man if i use '' voice ma'' will that go though with lloyds.

I was using rbs to verfiy one stelth but they only accpet bac and no chap from paypal. Also i used my satander saving account and paypal deposited £40.00 into it and after a week they debit the £40 from my account leaving me in minus so saver accounts are a no no.

I think you would do better to make it in Voic man rather than voice ma, then when attch bank account attach it as v man

Also you are wrong about saving working.

Use the search function, there is a wealth of information around.

When i was recently faced with this situation in the past i struggled to find an answer to directly move funds from one PP to another and in-turn transferring from one bank acct to another. My solution was to use the funds rather than transfer them. I used these funds for my inventory costs and simply sold on the other account. So i effectively moved money without raising suspicion and made a pretty penny in the process :)

Voiceman, I have not experienced PP taking money from a saver. Are you saying they extracted the funds from your account without a DD mandate set-up?

I never leave any money in a bank in which PP have paid into. I have dedicated savers for "storage" of funds and other savers for processing of funds from PP. Works well. Never had a single extraction from PP in all my time.

Tiz is correct 100%. Savers work. The info is out there. Tiz enabled me to get paid more money following their advice...:clap:

With CHAPS (Clearing Houses Automatic Payment System) everything must match

It used to be that you couldn't send a CHAPS payment for less than £12,000 (I think) but when they reduced the limit they kept the same security protocols in place.

Leave it alone and stick with BACS (Banks automatic clearing system)

Also Lloyds can be problomatic for some people, so maybe you should try another bank.

saying that when i have had money rejcted becuase of name i try again becuase it can go through the second time.