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Multiple saving accounts - using them to stay one step ahead of PayPal

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  • Multiple saving accounts - using them to stay one step ahead of PayPal

    I currently opened 3 saving accs with my bank account (ANZ).

    For these multiple saving accs, let say I will use one of it for the paypal for 2 weeks-3weeks until I got ebay invoice and then close the whole accounts and run with the ebay fee..

    In this case, I might have the other 2 saving accs ready as back up, then when I ask them to close the one associated, what reason is good when they ask me "why you have few accounts and close this one only after 2 weeks using it?"

    And also will the bank become suspicious to me of this activity and maybe one day will report me as fraud and freeze all my accounts?

    Let say I will do this regularly every 2-3 weeks with 1 accounts. I believe that someone out there doing same thing as well and have less worry like me.


  • #2
    You have to pay your first ebay invoice and that way you'll be able to stall for a couple months using one account.
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    • #3
      You're attempting to perpetrate a fraud on Ebay and PayPal, and that is not right.

      Let's answer the question in another, more legitimate way. Once money is ACHed into your PayPals PayPal may not reverse the funds out absent a claim of fraud.

      So first of all, let's define our terminology. A REVERSAL, is when an ACH is sent in (and actually settles in your account) and then reversed. This is very rare, and again, PayPal may justify it only if they claim fraud. PayPal's definition of what is fraud is unfortunately quite broad. You will need tech support on this issue for further clarification.

      And then, there are plain old ACH WITHDRAWALS that PayPal may initiate, such as, for example, to pay your Ebay fees, or recover a negative balance on your PayPal account.

      So let's say, as you describe, that as soon as the funds land you remove them anyway, and at some point PayPal, either to recover a negative balance in your PayPal account or collect Ebay fees, tries to withdraw funds from your bank account, or due to a claim of fraud, tries to reverse a previous ACH deposit.

      Well, if the funds are not there, unless you are really strong with your bank and they don't mind extending you overdraft credit, in most cases nothing will happen at all and the withdrawal will not happen.

      But in the case of a REVERSAL, the bank may be forced to create a negative balance on your account, which would, yes, create issues with them, because it would leave them holding the bag.

      So, it all depends on how PayPal plays the game: withdrawal, well, if no funds, no foul on you at the bank. Reversal, not good - you could be left with a negative bank account.
      Please read the forum rules before you post.

      And if you need extra help:
      Modee Tech Support


      • #4
        PP withdrawal to be rescinded

        PP wanted the ACH deposit back... that's what happening to me now. PP sent my bank an affidavit, saying the PP account owner's name and the bank account owner's name are different!!!!


        • #5
          Yes this happens, but rarely.
          May PayPal incoming ACH transfers to your bank be reversed? - Free EBAY, PayPal, Business and Law Forums - Ebay Suspension, PayPal Limited
          PayPal is calling it a REVERSAL obviously.

          What bank is involved? Personal/premier or Business PayPal? Personal or corporate bank account?
          Please read the forum rules before you post.

          And if you need extra help:
          Modee Tech Support