UK bank accounts

[tmastermind]

Originally Posted by tigerbaby328

Thanks Natbabes.

The above quote is the part where I'm still lost?? So participating banks that allow mismatching names will actually accept funds transferred from PP to the bank account where the registered name is different from the PP account name?

Using the my example above, I open a stealth an EB & PP account under the name of Rory McIroy then I start selling, get some cash in and then want to withdraw funds back to my Tiger Woods' account, this is actually allowed, is this what everyone is saying? How about the Direct Debit Mandate that has to be signed?

Sorry, maybe I'm missing something here as I've not done a PP sign up for a while so maybe I've forgotten the process.

Again, please could someone explain in detail. I apologise for not being with it but I guess this is the best place to learn until I finally get the gist of things.

Thanks in advance.

Correct, names are not checked by the bank as the money is going into the bank account.

However there is something that has to be pointed out as a warning. eb and PP have a different identity and dont link you and as long as withdraws are made from PayPal to your bank, you will be fine. However if PP tries to withdraw FROM your bank then there will be an issue!

This is the case of pp fees so always make sure the pp balance can cover the fees or use a VCC in advance to pay fees.

[rsot]

Originally Posted by tmastermind

This is the case of pp fees so always make sure the pp balance can cover the fees or use a VCC in advance to pay fees.

Best to pay fees in advance

[natbabes]

I always make a one time payment for my fees & I've yet to have a problem

[Researcher]

As far as I know faster payments are run on ac and sc and no name is needed so therefore there would be no reason why the bank would flag the transaction but if it is a baca payment than the ac sc and name need to match

[NoneOther]

Faster payment transfers use exactly the same mechanics for transferring funds as previously i.e. the DD mandate that is attached to the account.

Therefore all information including the name on the account is transmitted so a payment from the bank account to p/p will show the name of the account holder.

[GreenBean]

Originally Posted by Researcher

As far as I know faster payments are run on ac and sc and no name is needed so therefore there would be no reason why the bank would flag the transaction but if it is a baca payment than the ac sc and name need to match

Pay attention to the help being given by the experienced seniors.

People are dealing with paypal daily and are well aware of what tricks get pulled.

Avoid assuming with UK banks & paypal.

[nycek]

Have somebody tried MetroBank UK for stealth accounts? Is it safe to connect it with PayPal?

[Mack the Knife]

I think the days of mismatched names are numbered.

[GreenBean]

Originally Posted by Mack the Knife

I think the days of mismatched names are numbered.

Expand on that for us, Mack

[JamesNorth101]

Originally Posted by Mack the Knife

I think the days of mismatched names are numbered.

What leads you to saying that?

[nycek]

Anybody? I found some old posts that Metrobank used to work in the past. Guys, do you know if they still working with stealth accounts? Thanks

Originally Posted by nycek

Have somebody tried MetroBank UK for stealth accounts? Is it safe to connect it with PayPal?