Forum

UK bank accounts
 

hi

if I open a uk paypal stealth account how do I link a uk bank account as the names will not match ??

Make sure your bank allows mismatching name deposits and you will not have an issue

yes that is an obvious answer but what uk banks allow that ?

Nearly all of them....

Lloyd's is known to have issues.

Use the search function to find which are accepted and which are not

Lloyds does seem to work

I would not advise Lloyds - you may run into trouble further down the line.

The following are still good for use with miss-matching names:
- Cooperative
- Natwest
- RBS
- Halifax

I can add to that HSBC, Smile (part of the co-op) and Barclays.

Co-op + rbs confirmed here both good

We KNOW that lloyds shares info with paypal.

So we kindly tell users to AVOID that naffin' bank.

When the account starts to receive funds, the issues may start.

This is avoided if a user avoids this bank.

Not rocket science.

:argue:

Re: UK bank accounts
 

Sorry for my ignorance as I'm looking at topics that's of interest to me and this is one of them.

What does MISMATCHING NAMES mean? I cannot think what this is? What, I can open a current account in my real name but I then I can request different users to access this account? I've never heard of this before, so someone please kindly explain.

Thanks.

Re: UK bank accounts
 

Mismatch means you open a bank ac in your real name and details (its fraud if you dont)!

But for stealth your PayPal account will be under a stealth name i.e it wont match the name on your bank account hence the mismatch of name.

Re: UK bank accounts
 

Thanks.

Obviously it won't be my existing RBS as that's been used and PP knows this already, correct? But, for example, if I were to open a new current account in my real name, say the Co op Bank which allows mismatch, the loophole is that I can register with PP and eBay with a different name, is this what you mean? So if this were the case I can make any name up then, is this right?

Sorry, it's still a little confusing! Lets say I'm going to open up a new current under the real name of Mr Tiger Woods, but for stealth reasons of setting up a new eBay and PP account, I can call myself Rory McIroy and give my Tiger Woods bank details to eBay and PP and they wouldn't know or detect it?

Again, my apologies for being so ignorant here!

Thank you.

Re: UK bank accounts
 

You have it pretty much

You open bank account in your name

And then make up a name for EB and PP.

You then give them your bank details

So long as mismatching name deposits are accepted your fine.

Re: UK bank accounts
 

and SANTANDER bank

Re: UK bank accounts
 

Thanks again.

So when I'm using Rory McIroy as my EB & PP, does the bank have to know about Rory McIroy for their records? (If you don't tell they don't need to know, right?)

I think what is confusing me just ever so slightly is where the mismatching part is as I've never seen or heard it before - if an account is opened in Tiger Woods' name with account number 12345678, how on earth can this bank accept payments for Rory McIroy with the account number 12345678 when the actual account name is Tiger Woods???

I'm really sorry for whoever is going to explain this to me. I'm nearly there but there's just a few gaps to fill before I understand it fully.

Many thanks in advance.

Re: UK bank accounts
 

No you don't need to tell the bank any of your eBay & PayPal details, there's no reason for them to know

You just need to use a bank that accepts withdrawals in a different name than your Paypal account

Lloyds is definitely one to avoid, I use Cooperative on my 2 stealth accounts & I've never encountered any problems when withdrawing. The money's always in my bank within 2 hours. However, it could differ for other people depending on how established their PayPal account is etc

Also, PayPal can't see the name on the bank account. Only the sort code & account number so no worries there :)

Re: UK bank accounts
 

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.

Re: UK bank accounts
 

Most banks just accept mismatching names.

Why they accept it, well you will have to ask them.

All that matters is that most banks accept it.

Re: UK bank accounts
 

because nanes are not usually checked, yes its that simple, remember automated systems use numbers not names.

Re: UK bank accounts
 

Can I use Lloyds to verify PayPal accounts then withdraw to another banks? Lloyds will only be used for verification purposes. Please advice.

Thanks.

Re: UK bank accounts
 

No, DO NOT use Lloyds, they will not accept mismatched names.

Re: UK bank accounts
 

Lloyds cannot be used unless its under the same name.

Need to look for another bank for mismatching names.

Re: UK bank accounts
 

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.

Re: UK bank accounts
 

Best to pay fees in advance

Re: UK bank accounts
 

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

Re: UK bank accounts
 

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

Re: UK bank accounts
 

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.

Re: UK bank accounts
 

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.

:deadhorse:

Re: UK bank accounts
 

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

Re: UK bank accounts
 

I think the days of mismatched names are numbered.

Re: UK bank accounts
 

Expand on that for us, Mack

:spy:

Re: UK bank accounts
 

What leads you to saying that?

Re: UK bank accounts
 

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