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PayPal + other card processors sharing Info + Account NAME with ING, and other banks

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  • PayPal + other card processors sharing Info + Account NAME with ING, and other banks

    Bad news - many banks are now sharing your account holder name information with payment processors, including with PayPal. When the PP name and the bank account name do not match, both are shutting you down. ING Bank appears to be one of the worst offenders, although there are reports that Bank of America is starting to report too.

  • Modee
    replied
    But the issue is that some banks reject incoming ACHs when the incoming name on the ACH does not match the bank account holder. Most banks do not care - it's all numbers to them, but some do care, especially on personal bank accounts.

    And then when the ACH is rejected, the reason for the rejection is noted to PayPal, which sometimes consequently shuts you down.

    Leave a comment:


  • Dr.Yes
    replied
    banks do not share info with paypal. They can't. You have certain rights under banking rules and regulations, and privacy is one of them

    Leave a comment:


  • paul9090
    replied
    I have been using Sun-trust Bank. they seem to be great. fund the account, and in 4 days you have your new ATM card and some starter checks. haven't had a problem yet.

    ...FYI i don't believe they share info with PayPal.

    Leave a comment:


  • dmoore01
    replied
    What about credit unions?

    Leave a comment:


  • Modee
    replied
    I've opened Wachovia's fairly recently and they work for me. But the fact that you say it did not work for you, is notable.

    By the way, all of my bank accounts I use with Ebay and PayPal are BUSINESS bank accounts. Besides everything else noted in the Short List, there is another advantage to BUSINESS bank accounts (as opposed to personal ones), and that is that: Business bank account incoming ACH deposits (and deposits in general) are scrutinized less carefully.

    Leave a comment:


  • Dr.Yes
    replied
    Modee,

    Have you tried Wachovia lately? I used it a few months ago, wachovia shut the bank account down! I called the bank, they said the names didn't match on the direct deposit, and it looked suspicious. I haven't been a long time wachovia customer, but I'm pretty sure it doesn't work to withdraw money from paypal. Any thoughts on this?

    Leave a comment:


  • Modee
    replied
    You must open a tech support to understand this process. Otherwise you are just guessing - wrongly - at the right way to do things.

    Leave a comment:


  • sanandreasfire
    replied
    I realize that opening accounts in a name other than your actual one, then using that account is highly highly illegal.

    Leave a comment:


  • sanandreasfire
    replied
    So do you keep opening accounts in your own name? At the same company (bank?) ? I didn't know you could have more than one type of each account with a bank.

    Please explain.

    Leave a comment:


  • Modee
    replied
    By the way, I'd like to add that Wachovia works for me too. I trust they will keep working once they switch to Wells Fargo!

    Leave a comment:


  • Modee
    replied
    The issue is not how common your name is, but whether it matches the name on your EBAY/PP accounts.

    EBAY/PP do not generally use this method to get your address, no.

    Leave a comment:


  • toots
    replied
    Do you have any idea if they are sharing your address as well? Or just your name? I'm not so worried about them seeing the same name. I have a very common name. When I look in the phone book there are over 20 other people in my city with the same name. If ebay / paypal shuts me down because of my name I'd be kinda surprised.

    Leave a comment:


  • Modee
    replied
    Read the thread - maybe yes. The Short List explains a way to get around this even if the bank does report your account holder name to PayPal.

    Leave a comment:


  • asdf123
    replied
    I just wondering if i add a bank account in my country into paypal account by now, will paypal get to know my bank account holder name as well? Because i used the bank account to withdraw remaining money inside my previously permanent limited paypal account. Then i plan to open a new paypal account with paypal account holder name same with the bank account holder name that i used. I worry will get linked by them if they know the bank account holder name. So far for now bank account in my country can only be use to withdraw the fund from paypal, so i dont want risk on using credit card to withdraw the fund because i will less one choice to fund in the paypal account.

    Leave a comment:

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