Paypal code- 4 digit bank verification

[barry502]

Hi,

Can someone please let me know why, when adding a bank account to y paypal account I never receive the 4 digit code to allow me to verify my account?

I have used this process over the years without any issues but twice now on bank accounts I have received the 0.01p deposit, the 4 digit code does not appear on my online bank statement.

The latest one appeared like this

PAYPAL CODE PPRD0000000058RB8Q

Why is this and why don't I receive the 4 digits as I have in the past ?

Many thanks in advance.

[sax4]

First question should be what bank are you trying to use?

[barry502]

I have used Halifax current account and the last attempt was a TSB business account

[sax4]

I think other members have had similar issues and they have called the bank to get the code.

[barry502]

OK, So it is nothing to worry about ?

I just assumed that the code I received was something to do with paypal being on to me.............

I will try giving the bank a call tomorrow to see what they can tell me.

Thanks for the reply.

[realdeals]

Originally Posted by barry502

OK, So it is nothing to worry about ?

I just assumed that the code I received was something to do with paypal being on to me.............

I will try giving the bank a call tomorrow to see what they can tell me.

Thanks for the reply.

You may just want to hold back a second on this....

Is this all in full stealth details?

I don't use them myself, but I was under the impression TSB was a bit of a no no for stealth.

You may want to just wait until someone, (JamesNorth for example or a red), can confirm who knows better about TSB than I.

[JamesNorth101]

I am not really sure about TSB since the split to be honest. Lloyds is still a no though.

Halifax is fine. It's been a while since I have heard of this issue happening, generally it used to happen with newly created bank accounts being added to PayPal. Just need to phone your bank to get the code. Personally I would stick with Halifax

[realdeals]

Originally Posted by JamesNorth101

Halifax is fine. It's been a while since I have heard of this issue happening, generally it used to happen with newly created bank accounts being added to PayPal. Just need to phone your bank to get the code. Personally I would stick with Halifax

Or as he already has 6 accounts with Halifax, maybe look at Bank of Scotland? Should be a breeze to get accounts as they are the same group, you can open another 5 or 6 accounts over time with ease AND there is the advantage that the accounts you have with the two banks are all merged together on the same screen for online banking. No more logging in and out like with some.

[barry502]

James,

Without going in to too much detail, my paypal account is stealth and been going for nearly 4 years now and going well. It is only stealth by way of slight name variation and different DOB - (my address is new aswell but it is legitimate as I moved house).

I don't want to mess with this account too much but as I said in another thread, it is the bank account registered on this PP account that is the issue now - they phoned me and queried why all the paypal transactions - accused me of being a business operating with their current account.......they stated in no uncertain terms to get a business account and stop using my current account for withdrawals.

This is the reason I have been trying to add new bank accounts. First one I tried was another halifax current account and the second was a TSB business account. I passed the phone verification but the 0.01 deposits are showing no 4 digit code to allow me to verify DD mandate.

I have just withdrawn a small amount into my TSB business account tonight and all went well. Do I really need to verify this account with the code or can I just continue to withdraw on it without verification ? I only need to withdraw funds using this account, I will simply use my original halifax acc for purchases. Can you see an issue with this i.e withdrawal limit or something ?

Sorry for long response.........

[realdeals]

If there is only a slight name variation......Bob instead of Rob, Steve instead of Stephen, Low instead of Lowe.....then you should be fine.

[Bunneh]

when i verified my TSB card on entropay, and viewed the pending charge, the code never appeared, but when the payment cleared in 2-3 days the code appeared.

Pehaps you having the same thing?

[barry502]

Originally Posted by realdeals

If there is only a slight name variation......Bob instead of Rob, Steve instead of Stephen, Low instead of Lowe.....then you should be fine.

Not sure what you mean ?

Do you mean there will be no need to verify the new bank acc with the 4 digit code ?

Will my receiving and withdrawal limits still be OK using the new bank account to withdraw ?

I am just worried that I get a limited withdrawal limit or something on the new account ?

Sorry for all the questions.........

[barry502]

Thanks Bunneh,

that thought did cross my mind, I only added the accounts yesterday and today so you may be correct ? Here's hoping.

[realdeals]

Originally Posted by barry502

Not sure what you mean ?

I mean unless the bank account that you are trying to attach (TSB) accepts mismatched names it is pointless adding it. There is a doubt in my mind that TSB 100% does accept mismatched names.

However then you went on to say:

Originally Posted by barry502

It is only stealth by way of slight name variation

Hence my response.

[JamesNorth101]

Originally Posted by realdeals

Or as he already has 6 accounts with Halifax, maybe look at Bank of Scotland? Should be a breeze to get accounts as they are the same group, you can open another 5 or 6 accounts over time with ease AND there is the advantage that the accounts you have with the two banks are all merged together on the same screen for online banking. No more logging in and out like with some.

I had read it as barry having tried to add a Halifax current account the PayPal and when that did not working trying to add other. If that is the case then using the Halifax that he tried to add before again would be a good move.

@barry502 - If this is the same exact same PayPal as in your other thread then I would really avoid TSB, just incase their are issues, and stick to a business account with any other main high street bank.

If your worried about them having issues with names not matching (which can happen even with banks who have no issues with mismatching names when its very large amounts of ££ involves, Halifax being an example. It is very rare though) then I would upgrade the PP account to a sole trader account and add in a trading name to the PP. Then open a business bank account in the same trading name as the PP. Then add that business bank account to the PayPal

[barry502]

Originally Posted by JamesNorth101

I had read it as barry having tried to add a Halifax current account the PayPal and when that did not working trying to add other. If that is the case then using the Halifax that he tried to add before again would be a good move.

@barry502 - If this is the same exact same PayPal as in your other thread then I would really avoid TSB, just incase their are issues, and stick to a business account with any other main high street bank.

If your worried about them having issues with names not matching (which can happen even with banks who have no issues with mismatching names when its very large amounts of ££ involves, Halifax being an example. It is very rare though) then I would upgrade the PP account to a sole trader account and add in a trading name to the PP. Then open a business bank account in the same trading name as the PP. Then add that business bank account to the PayPal

James, This is where I need to explain. sorry for the complexity !

This paypal account WAS an individual account under a slight personal name variation. I upgraded this account a while back to a business account and luckily named it with the same name as my TSB business account which I use for my dormant ltd company. My ltd company bank account is named xxxxxxx technologies ltd but I named my paypal account xxxxxxx (missing the technologies ltd, part) Do you think this will be OK ?

[realdeals]

Originally Posted by JamesNorth101

I had read it as barry having tried to add a Halifax current account the PayPal and when that did not working trying to add other. If that is the case then using the Halifax that he tried to add before again would be a good move.

Unfortunately, (and Barry is by no means the only one who does it!) , this is the problem with opening different threads that could have been covered in one....as even the most active members of the forum only get pieces of the story.

Barry was lucky enough to get a 'warning' from Halifax about using his curent accounts for business.....therefore I really wouldn't recommend the Halifax route as he already has 6 existing accounts......or the TSB route.

[barry502]

Apologies, I should have kept all this on one thread......

Sorry

[JamesNorth101]

Originally Posted by barry502

My ltd company bank account is named xxxxxxx technologies ltd but I named my paypal account xxxxxxx (missing the technologies ltd, part) Do you think this will be OK ?

That should be fine in that case so long as PayPal is depositing funds under the trading name not the name on the PayPal account.

If you want to be sure you can ask TSB what the incoming name on the deposit is.

[realdeals]

Originally Posted by barry502

Apologies, I should have kept all this on one thread......

Sorry

Don't worry

Just trying to build the whole picture for people so you can get the best advice.

[barry502]

Would TSB not question why I am asking ?

[JamesNorth101]

I don't see why they would. Its a legitimate question.

Better to find out now that the depositing name is correct than 6 months down the line.