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Stealth bank info?

Discussion in 'Ebay' started by MK716, Jul 26, 2015.

  1. MK716

    MK716 Newbie

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    Whats the best way to set up a bank account for amazon stealth account? Does the bank account have to be in the name of the person the account is under? Or can i use my name? If account is under J. SMITH can i make the bank under M. Smith? Thanks
     
  2. AuctionEssistance

    AuctionEssistance Junior Member

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    That entirely depends on how your bank views mismatched names when deposits come in. Chase has been one we have been using for years with no issues with mismatched names.
     
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  3. MK716

    MK716 Newbie

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    What exactly do you mean by mis matched names? Please tell me if this is right/ok for mis-matched.

    Name on bank account : Will this name work (if bank takes mis-matched)
    John James Smith ----or------J. J. Smith or should it be J. J. S.
    123 Blank St -----------------------123 Blank St
    Anytown, AZ 12345-------------Anytown, AZ 12345

    Or how should it be done, in your experience what works? I'm a little confused on how to do the mis-matched. I want to do it right the first time. FYI - I don't have a suspended Amz account, this is my 2nd (stealth) account, first disbursement on it. My original account is active with no listing at the moment. I have the option to have a new bank account to be opened under the relatives name I used to open account, I would rather not so they aren't liable for any tax etc. They are willing to do it though.

    Thanks in advance
     
  4. toml3030

    toml3030 Elite Member

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    You can not open bank accounts with false info. What mismatched names means that since Amazon can not see unless it digs what the name is behind the account number, it's up to the bank whether to receive deposits when Amazon sends deposits under your stealth info.

    Anyhoo, once the amount becomes big, Amazon is known to dig your real bank info, so some time down the line this may be all moot.
     
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  5. MK716

    MK716 Newbie

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    Thanks for your responce, I know it can't be a fake name at the bank. What Im asking is what do people mean by mis matched name? So if my real bank account is under Michael Matthew Smith do I just put M. SMITH on my info for amazon or Smith, M or Mathew Smith? That's what I'm trying g to figure out. What do you think Amazon considers a big disbursement? Mine is around $2000-$3000 every 2 weeks on average this first disbursement will be around $3500.00 this time around. To me that's doesn't seem like a lot compared to what alot of sellers on amazon do.
    Also is it best to put bank info in the last day before disbursement or a few days before? Thanks
     
  6. toml3030

    toml3030 Elite Member

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    They're talking strictly on the banking side and not the Amazon side. For example, if my name on Amazon is John3030, and my bank sees deposits coming in as John3030, they may reject that deposit because the name doesn't match.


    That may be enough for Amazon to care. It may not be an issue right now but it may result in your account being shut down at any time if you are in any way linked to a previous banned account.


    shouldn't matter
     
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  7. MK716

    MK716 Newbie

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    toml3030

    Thanks, I think I got it. I was thinking the bank info had to be the same name the Amazon account was opened under, not my selling name. I never had a banned or suspended account, just wanted to get this 2nd account just in case. Both accounts have the same last name, different address and in different counties but same state. So if my real name on the bank account is Michael Smith I could just use M. Smith? Or Mike Smith, is that right? I'll also be using a different bank than original account.
     
  8. toml3030

    toml3030 Elite Member

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    If your name is common enough, you may be able to get away with it, at least for a while. If your name is Eugenio Amadeus Monsterdong IV, Esq. then you won't get away with it for long. I have two accounts and I have a very common name and they haven't hassled me so far. For that kind of money though, especially if you plan on growing this business, you should consider setting up a real business and doing everything legit. Unless you're selling fakes or doing anything shady, it's lot less hassle in the long run.
     
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  9. MK716

    MK716 Newbie

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    One last question for you. Is there any difference for the legal entity name and the name the account was registered with? There different for the first name on eachieve other. Which will probably/ maybe cause a issue at some point, hopefully not. I didn't notice it until now. Also I'm not seeing the name the account was registered in, only legal entity name. If I can use the legal entity name then I'll be fine.

    Thanks for your help. I appreciate it.
     
  10. jak19

    jak19 Elite Member

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    hey op just for your info there is a thanks button after each post and I think you should be thanking toml3030 as he is helping you a lot
     
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  11. MK716

    MK716 Newbie

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    I didn't notice that. I will click that. But I did thank him at the end of my post. "Thanks for your help. I appreciate it." was intended for toml3030
     
  12. toml3030

    toml3030 Elite Member

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    YMMV, but what is important is that your legal entity matches whatever tax id you provide them with. The legal entity and registration info not matching can be explained away in a phone call. Just be aware that amazon will sometimes dig really deep if the money gets big so you want to set it up so that you don't get shut down for any reason when you start making bank with it.
     
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  13. MK716

    MK716 Newbie

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    The legal entity and tax info match 100%. So I should be able to use the name that's my tax info/legal entity name for deposits? It only differs in the first name as what I registered with. Say I registered account as Chad Smith and tax info/legal entity is Matt Smith, which ones best.

    Sorry if these are basic questions, but I've been looking around this and another forum and cant find exact answers and ones I can find are a few years old. I realize what works for another may not work for me. I just want to be as prepared as possible.

    Thanks again.
     
  14. California Drought

    California Drought Newbie

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    thanks what other banks do you use ?