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Getting paid out on PP accts not in name?

Discussion in 'Business & Tax Advice' started by flow, Oct 22, 2008.

  1. flow

    flow Regular Member

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    So I'm utterly confused about this aspect of BHing.... (I've searched many times)

    When you buy a PP acct, since it's not in your name, how do you pull the money out-- cash in hand? (I know you could just spend it with VCC or whatever.)

    I ask because I'd like to setup a new Paypal acct. that is not in connection with my real one tied to my real name. I just don't know how I'd get the money?


    :)
     
  2. flow

    flow Regular Member

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    PMs are ok too if this is a bit touchy :confused:
     
  3. Uptownbulker

    Uptownbulker BANNED BANNED

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    Go here, flow and learn!

    http://www.blackhatworld.com/blackhat-seo/shit-list/31213-gift-paypal.html
     
  4. flow

    flow Regular Member

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    Hm, I looked into my own acct for a 'Name Change' option but found no such thing. I still have no idea how to do this :confused:

    Thank you for the link though, Uptownbulker.
     
  5. mtime88

    mtime88 Regular Member

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    you could just send it to your real paypal....
     
  6. mattstrike

    mattstrike Regular Member

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    Just click on Uptown's banner, read and learn.

    If you want to protect your name, want to be able to process real transactions, and don't want to put up with PayPa1's BS, then get yourself a company, and use it to do your transactions.

    If the company cost seems to be too high, then it might be time to rethink whatever business plan you are working on. Attempting to scam payment processors to hide your ID for a few hundred bucks just isn't my idea of a good time, especially since those processors will shut you down and keep your money in a heartbeat.

    If the cost of incorporation is simply more than you can afford right now, then the best advice I can give you is to bust ass doing something (mostly) legit, until you bank enough to get started.
     
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  7. chc89

    chc89 Junior Member

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    You can use xoom to take out money from your pp accoutn with any name to your bank account. You can send to anyone's bank account
     
  8. qiuyun

    qiuyun Registered Member

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    cash in hand? xoom to take out money from your pp ?
     
  9. StillSmiling

    StillSmiling Regular Member

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    I was thinking the same thing---unless he really really doesn't want his PP accounts connected in any way whatsoever. Then he is going to have to pay close attention to Uptown and/or investigate processors on his own.
     
  10. mattstrike

    mattstrike Regular Member

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    This is as close as a person is going to get to an easy way to get money off of an "illicit" PP account. You can send the money to a bank account, or you can send it to a vcc, provided that you have bank routing numbers for that vcc for that purpose.

    If PP decides to go after that account, they have to get Xoom to cough up the transaction details, and then hope that wherever the money wound up will play ball. If that money went to a VCC and was spent or taken out as cash. . .

    Seriously, though, unless a person gets off on needlessly elaborate money laundering schemes (and hey, if they do, then good on them, there are far worse ways to get one's jollies), then this will just burn a lot of time on a very high overhead high risk way of getting the money.
     
  11. donnieo

    donnieo Newbie

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    1) Use a freelance site that accepts paypal deposits. You'll pay a fee to deposit via paypal, but it might be cheaper than xoom. Then the "freelancer" you hire can receive the money into their paypal account or via other available methods.

    2) Buy some bullion or other easily resalable item on ebay (maybe gift cards also).
     
    Last edited: Oct 24, 2008
  12. Uptownbulker

    Uptownbulker BANNED BANNED

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    If you have a PP account and that account is not completely verified; YOU as the PP account holder MUST be the signor on the bank account to get completely verified, you have a monthly sending and receiving limit; normally $500.

    In the most recent PP debacle, the account was limited with transactions totalling only $28!

    After the account was limited by PP the account holder received additional monies TO the account (PP will always let you put money IN, even if the account is locked pending verification! Not many people know this!).

    Problem is, PP then wants bank statements, copies of passport, state issued IDs, a credit card in the name of the PP account holder, etc, to "verify" the account before it will let you withdraw the funds.

    If you have verified your PP account using a no-name" VCC or a "borrowed" bank account, you are screwed!

    You will NEVER get your money OUT of that PP account as you cannot verify it to the satisfaction of PP!

    PP will always let you set up an account but will not always let you use it.

    If you just need a PP account to verify with something else, you might be OK but if you have any bogus or unverifiable info on the account, you WILL lose your money to PP and it has its TOS AND the law behind it!

    PP is not required by law to send money to unverified users.

    Further, PP is now making the claim that the use of a PP account linked to a bank account on which the PP account holder is NOT the signor, is BANK FRAUD and is doing a Hell of a job convincing the banks that this is so.

    Banks don't like hassles, so they just shut down your accounts and you are doubly screwed!

    There are SWAG (Scientific-Wild-Ass-Guess) theories that PP may actually obtain as much as $20 million USD or more in "frozen" accounts, each year!

    Never ever; not now, not ever, NEVER accept payment from an unverified PP user as YOUR account can be locked until you refund, verify or until the unverified user gets verified.

    You can also have YOUR PP account SUSPENDED for taking too many payments from unverified users!
     
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  13. Freddie

    Freddie Registered Member

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    Uptown, thanks for enlightening us with that post. I had read some horror stories about PP before but from what you describe it seems even worse than I thought.

    Nice business model to make money by "freezing" accounts. I think elsewhere that would simply be called theft.

    How do they verify this outside North America and the EU?

    The idea of linking a bank account with PP sounds like bad news to me. Even IF the owner names match. Maybe I am just paranoid.