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Instant Bank Account Verification - can create issue when account names do not match?

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  • Instant Bank Account Verification - can create issue when account names do not match?

    Greetings - Is there any danger of using the instant bank/savings account verification process if the name on the paypal account differs from the name on the Bank Account ?

    Thanks in advance.

    MrStealth

  • Modee
    replied
    The question was whether the instant verification verifies the account name holder on the bank account - the answer is, No.

    However on down the line, this can happen:
    PayPal + other card processors sharing Info + Account NAME with ING, and other banks - Free EBAY, PayPal, Business and Law Forums - Ebay Suspension, PayPal Limited

    You must provide the bank account # and routing # to PayPal in order to confirm your PayPal account and receive payments. At the end of the day what confirms your PayPal is this account # and routing # belonging to a bank account over which you can confirm dominion and control. One way to confirm dominion and control is via this instant online verification - but the information PP NEEDS as well remains your bank account # and routing #.

    Leave a comment:


  • Dr.Yes
    replied
    Originally posted by Modee View Post
    Well the issue has to do with when the money starts coming in - some banks do not care, some do. But the instant verification simply verifies the username and password nothing else, so that will not create a problem.
    I don't think this is true. It verifies the username and password, but as well I think it verifies the bank account and routing number. Do you have any thoughts on this?

    Leave a comment:


  • Modee
    replied
    Well the issue has to do with when the money starts coming in - some banks do not care, some do. But the instant verification simply verifies the username and password nothing else, so that will not create a problem.

    Leave a comment:

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