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Mismatch name bank accounts
 

Howdy folks,

Does anyone have a list (recently updated) for UK Sellers & UK bank accounts that we know from personal experience that DO ALLOW name mismatch and therefore work well with PP linking?

Searching on the forums I see mostly US bank account info and pick up the odd UK bank account that has issues like LLoyds but wondered about the following:

Barclays
HSBC
Natwest - which will also include (RBOS, Halifax)

The above 3 are ok

HSBC - Works a treat

Barclays - Works

Not used the others, never heard negative things though.

Avoid Lloyds, Eccount and Card One Banking

HSBC in the USA will shut you down if you put too much money through the accounts. They've been beaten up for money laundering recently.

i use santander fine

I have been using HSBC and Halifax for more than a year each without any issues whatsoever. Also Halifax account was opened in 10 min (online) for me.

I have been using ING (now Capital One 360) without issue.

ING can be dicey for some people, meaning rejection of mismatch name deposits have been reported

Thanks, I'm going to follow this advice. The ING/Cap 360 account that I mentioned that was working great for a year+...it had a very slight mis-spelling (1 letter was missing in last name and the first name was shortened). It was probably close enough that ING/Cap 360 would accept it.

My new stealths have completely diff names. So I will use BoA for those and not take any chances. Thanks for your suggestion (as well as Sandy's on a diff thread but same topic).

I have found the following to be good within the past few months for withdrawal with miss-matching names:
- Natwest
- RBS
- Cooperative
- Halifax

If you are north of the border, Bank of Scotland works fine too.

Are any of these good for completely different names as opposed to just mismatching ?

ing were good but are no more, am afraid its Barclays now

Mismatching = Completely different names unless stated otherwise.

Aah, Thanks for clearing that up James - It seems I must have forgotten to take my medication again.

:doh:

Has anyone any recent experience of Nationwide?

Not used, but never seen anything negative posted.

ING works well for me which is now barclays as jamesnorth101 has already said

MISmatch name with Natwest select great


is there way to add Natwest instant saver

i just it will work as i will link it on limited pp to withdraw..

Re: Mismatch name bank accounts
 

does it matter what type of natwest account it is?

Re: Mismatch name bank accounts
 

Santander is excellent as well as has already been said, we do have less choice over here in the UK but there are still enough to get by.

Re: Mismatch name bank accounts
 

Yes it can do , request a basic and then open a few then a few savers.....

Do not let staff bully you into more 'appropriate' accounts.

Once you open a basic it is easy to open others.

However once you open a 'higher profile' type account they can refuse to open a basic for you.

Can be true with Nationwide also, and Halifax.

Re: Mismatch name bank accounts
 

Found Santander difficult to open a basic with when you have other accounts with them. I do still think it is down to the staff in the branch though.

Natwest on the other hand are great. Really easy to open basic accounts and then add savers. When opening basics with them, I have the option of selecting the branch I want to operate the account from. This way I have a range of sort codes. All opened up online and the details are available immediately.

Nationwide staff are helpful too. Never had a problem with mismatched names either, whether it is PP or AMA.

Some will say to stay away from TSB but I have been running a stealth PP with their basic account for nearly 3 years without a problem. Good staff in my branch too.

RBS good. They will be Williams and Glynn soon.

COOP good. BOS good.

Yet to try Yorkshire Bank, Ulster Bank and Clydesdale Bank. Next year for these.

All my bank accounts are basics with added savers.

Re: Mismatch name bank accounts
 

Hi, thanks for the information, may I ask what do you mean added savers ? Does it mean you can get more bank accounts in same bank ? Thank you once again

Re: Mismatch name bank accounts
 

Remember that savers may have additional fees if you try to take money out - usually, no extra fees for online transfering to current accounts and then withdrawal

Re: Mismatch name bank accounts
 

Lloyds, RBS, barclays, natwest, halifax works for me

Re: Mismatch name bank accounts
 

I have 4 basic accounts with Natwest. After opening the first online, I waited four or five months before opening the next, again online. Same process for the others. You can also apply for a savings account online with them too. All very easy and quick to do. They give you the account number and sort code on opening. That's with both the basic accounts and savers. I always wait for a few days after opening before adding them to PP or AMA though.

When opening more basic accounts, there is an option to chose which branch you want to use. This way you get different sort codes.

Re: Mismatch name bank accounts
 

Thank you so much for the information, thats very helpful :)

Re: Mismatch name bank accounts
 

I have always used Santander but got a mail just today because they're holding $2k for mismatched name on the account and was placed under fraud department. I went to the branch and asked to bring in the payee with ID to sign a form to release the money. Otherwise, they will send the money back to Paypal. So, now I'm not using Santander again.

Re: Mismatch name bank accounts
 

Sorry for the dumb question, I just want to clarify exactly what is meant by "mismatched names".

Is it that the sort code and account number is in your name (example John Smith) and the paypal account is in another person's name (example Joe Bloggs) ?

Therefore. when you withdraw from Paypal, the bank will see an incoming deposit being paid to Joe Bloggs, but with your sort code and account number. Have I understood that correctly?

Re: Mismatch name bank accounts
 

Mismatch name - Name on PayPal does not match the name on the bank account

Example being

PayPal name is Ryan Jones
Bank name (your real name) is Bob Hatton

If a bank is OK with mismatching names (as most are) they will not ever ask about the names on the incoming deposit being different to that of the bank account holders name

If banks have an issue with it (lloyds for example) they may ask why the name does not match. Some banks will also refuse the deposit.

Re: Mismatch name bank accounts
 

Don't be sorry. It is better to ask if you are not sure than lose a precious bank account. Even though things are getting a little looser than in the past, in the UK we still do not have the luxury of producing new bank accounts like confetti.

Read the forums and search for relevant threads as much as possible, then if stuck always feel free to ask.

Re: Mismatch name bank accounts
 

Thanks guys for your insight.

Is it correct to say that the sending organisation (i.e; Paypal) cannot see the account name (other than the name you give them)?

Is there no way for them to check this?

Re: Mismatch name bank accounts
 

When PayPal send funds they cannot see the name on the account that they are sending funds do

Banks do not share this information with them

Banks can see the incoming name though, and some banks will reject or take issue with mismatching name deposits

Re: Mismatch name bank accounts
 

Banks cannot see the incoming name at all, that's why it works with the majority.

The 'new system' banks work on matches payments via account number and sort code to the account it is being sent to, banks like Lloyds and TSB are still being run on the 'old system' where incoming payments are matched on sort code and account number and also the name on the account. For what we do, that is then where the issue comes.

Re: Mismatch name bank accounts
 

The fact that some banks use to old system means that some banks can see the name on an incoming deposits....

Interesting that you say that using the new system they cannot see the name at all. That has never been my understanding of the new EU system. Shall have a little research on that one.

Either which way PayPal cannot see the name so the point is moot

Re: Mismatch name bank accounts
 

Haven't got a link to where I can read up on that by any chance have you?

Re: Mismatch name bank accounts
 

Here you go > SEPA and FPS

These are 2 of the 4 systems that can be used in the UK

Lots of links off that page that explain it all in more detail

Re: Mismatch name bank accounts
 

How Faster Payments Works | Faster Payments

BACS and CHAPS may work differently.

Re: Mismatch name bank accounts
 

Its the banks particular software system that determines if they auto reject miss-matched names, nothing to do with how the funds are transferred. Bank policy, not enforced wider EU banking policy in general.