PayPal Name & Bank Name Controversy

[Franktons]

Let me picture you a scenario :

- My PayPal Account Name : John Doe ( has my bank account's debit card attached )
- My Bank Account Name : Jerome Boateng ( receives money from paypal account )

I am able to withdraw money from my paypal to my bank account and even go to ATMs and withdraw money without any issues even though the paypal account name is not the same as the bank name. Even the transaction logs that appear in my bank account show " POS CASHDP " which stands for " Point of Sale Cash Deposit " and do not show any controversy in paypal name and bank name. I even sat down with the bank's agents and bought 2 Certificate of Deposits ( one of them for 3 years and the other is for 3 months ) . I remember asking them about one of my paypal deposits telling them " POS CASHDP is the only thing you know about this transaction, right? " The agent said " Yes. "

The agents never questioned anything and when asked, I told them I have an ecommerce shop online for selling clothing, nothing else.

However, I receive SMS messages from my bank's automated system on every withdrawal from PayPal that says :

" Dear valued customer, you have deposited the amount of X to your account in PayPal *John Doe*. It mentions my paypal account's name, which is not the same as my bank account's name.

I am pretty much sure this is not allowed in US/EU because both names MUST match. However, I don't seem to have a problem in this over here.

Any payments i make online, let's say there's a merchant called " 123 " the message says :

" Dear valued customer, your card **** was charged X in PAYPAL *123*.

Is there by any chance risk of problems because of difference in names in the future because of this controversy? I don't think so because my bank logs do not even show the name and the automated messages are automated by a bot or a machine.

Despite it being crystal clear that no issue is detectable, I still want to make sure there's nothing to worry about and if anybody had the same situation.

 

[Franktons]

Looking for answers.

 

[perrymason]

Maybe I didn't understand you but I don't see problem at all.

Obviously paypal and your regular bank have different names, they are different entities. Paypal will have your name (John Conly) if it's a personal account or your company's (Western SEO LLC) if it's a business one. Bank account will have it's own name as well and doesn't need to match.

When you transfer money from paypal to your bank account it will show money comes from paypal.de .it .com and some sort of ID of the transaction.

I don't understand this part since amazon doesn't use paypal. Nevertheless, every bank in the world has their own automated messages.

was charged X in PAYPAL *AMAZON*

The real danger is how are you managing those payments regarding your country taxes, having documents and legal proof of your business, etc.

 

[Franktons]

It's a personal account, no taxes paid at all in my country and the only documents I used was a national ID of someone I don't know.

 

[Franktons]

The amazon part is just an example. Let's say there's a merchant called " 123 " , it would say " your card was charged X amount in PayPal from " 123 ".

Carrying on from the rest of your message, it appears that I am safe, thank you and that makes me very grateful and appears there's no big deal.

 

[perrymason]

The amazon part is just an example. Let's say there's a merchant called " 123 " , it would say " your card was charged X amount in PayPal from " 123 ".

Carrying on from the rest of your message, it appears that I am safe, thank you and that makes me very grateful and appears there's no big deal.

Got it, yes obviously it will show the name of any vendor or company that charged the money with whatever automated text your bank uses.

Only problem you may have is using a personal paypal account for business, paypal might block you if they see suspicious activity after getting many payments for example or complains and disputes from clients that want a refund. Better apply for a business paypal account or use any other payment processor (again as a company not a personal individual).

 

[Franktons]

Got it, yes obviously it will show the name of any vendor or company that charged the money with whatever automated text your bank uses.

Only problem you may have is using a personal paypal account for business, paypal might block you if they see suspicious activity after getting many payments for example or complains and disputes from clients that want a refund. Better apply for a business paypal account or use any other payment processor (again as a company not a personal individual).

That sounds great and there's no problem to me in the future. Regarding paypal blocking me, not worried from paypal's end, just worried from any problem that may arise from my bank's end. Regarding paypal, I know the drill, been blocked from paypal twice in the past and i know how to come back and withdraw money to my own bank account. I resolve disputes within 48 hours if the chargebacker is not responding.

 

[nakamura]

Are you sure names must match? Even if you make a wire transfer to someone else, you don't need to write your or their real name and they are still going to receive the money - from my experience. If you make payments via credit card, you can write any name as well - but this depends on the level of verification and how strict the shop/payment provider is. Yesterday I paid money to Google via credit card, wrote a fake name and it was no problem.

 

[Franktons]

Are you sure names must match? Even if you make a wire transfer to someone else, you don't need to write your or their real name and they are still going to receive the money - from my experience. If you make payments via credit card, you can write any name as well - but this depends on the level of verification and how strict the shop/payment provider is. Yesterday I paid money to Google via credit card, wrote a fake name and it was no problem.

That just makes me even worry less. Just said that part because i heard someone in paypal community discussion platform that has been using his mother's paypal in the US or some country and the bank didn't allow him to withdraw the money simply because it was not the same as the name on his bank. So he went to the bank and made his bank account a " joint ". In other words, the bank account is now owned by him and his mother so that both his mother and him can withdraw money from his bank account.

 

[Deleted member 657006]

You can attach any bank card name to PayPal don't have to be in your name only legit .

 

[hideath]

there's no problem at all as you can use any bank account with any name within paypal,
i have an attached bank account within my paypal with a different whole name (even gender and details...) and never faced any kind of problems

the only problem that can occur is within taxes or some legal thing,
if you want to avoid this, you can simply change your paypal name by sending id card pic

 

[perrymason]

That just makes me even worry less. Just said that part because i heard someone in paypal community discussion platform that has been using his mother's paypal in the US or some country and the bank didn't allow him to withdraw the money simply because it was not the same as the name on his bank. So he went to the bank and made his bank account a " joint ". In other words, the bank account is now owned by him and his mother so that both his mother and him can withdraw money from his bank account.

That is obvious, nobody can withdraw from other people's bank no matter if she is your mother or best friend. Imagine me going to take 100$ from yours, or your sister who recently hates you due to a fight and want revenge.
Internal names or ID's are a different story and may differ, as long as everything is legit and details of the accounts are on your name it should be good.

 

[Franktons]

Qutoing @hideath and @redarrow, this is very relaxing to hear. I don't pay any taxes in my country.


Quoting @perrymason, yes it's obvious but I am having exactly the same situation but I am able to withdraw money from my bank account and they couldn't because the paypal name is different than the bank account name. Even though my name in my local bank account name is not the same as in the paypal, I am still able to withdraw. Maybe it's the difference of countries or banks that makes this happen.

Raised this thread to make sure there's no problem in the future but seems no issue, thanks everyone.