Which Bank Accounts to Use With Paypal? Definitive Answers!

[Dr.Yes]

Bank accounts are a tricky mistress with paypal... everyone knows banking is probably the biggest obstacle in what we all do here.

The names on the paypal account of course sometimes need to match with the name on the bank account.....


What banks are you currently using?

I've been using Bank of America for quite some time, with great success. however, Wachovia... not so much!


Let's discuss!

[LisaThomas]

I use Wells Fargo, a very small branch in a small nearby town in Calif. The Bank account reps in California are hard up for business. He let me type in my address and personal info on his computer where I needed it to match, must've got tired of me bossing him around

He also promised if they call not to give out more than what is, by law, necessary but i forgot what that was. He says Paypal only asks about the address on the account to confim it matches with their address, then they hang up real fast. Opened this account a a few months ago

I didn't know this and left the bank for an hour or so, then came back and we continued after I got my Dads rental address which was a location in the same town. He also said it needs to be a REAL address on file with the post office, this is what he said a Paypal employee told him when they called. So when I attempted to list the address of a gas station which had been out of business for 20 years, the location being just 5 minutes away, he said don't do that. Very helpful new accounts rep and probably the only reason my accounts haven't been closed down. He kinda has my back I also referred another EBAYer to him so he wants all the Ebayers to come in and open accounts since he gets credit. Mind you it took me scouting about 4 banks to find this guy.

My next account will be at US bank because a girl I graduated with is the Branch Manager and she will open it for me. She will put any address needed, and call me if Paypal calls her. She can't remember what to tell them which is interesting. Likely US bank is not informing their employees of what by law, they can divulge. She can't remember ever talking to a Paypal Rep though all those calls would go to her, there are only 3 Tellers, a very small branch. So maybe there aren't many EBAYERS in that town. She's no dummy either

[Dr.Yes]

whoa what?

Paypal can't see the name on the address on the bank account you use. It is up to the bank to decide whether or not they accept the incoming deposit if there is a name mismatch.

Anyone can open a bank account for you, doesn't have to be friends or family.

[LisaThomas]

Bank accounts are a tricky mistress with paypal... everyone knows banking is probably the biggest obstacle in what we all do here.

The names on the paypal account of course sometimes need to match with the name on the bank account.....


What banks are you currently using?

I've been using Bank of America for quite some time, with great success. however, Wachovia... not so much!


Let's discuss!

Learn something new everyday, thanks

Our bank gave Paypal my husbands business account # and they threatened to use it when I mentioned closing my personal account. I can't remember the circumstances surrounding it but I KNOW I did not give them my husbands checking account number. Our whole life is lived in a "stealth" kind of way.

The bank was Umpqua

We have since closed both accounts and we keep his business account at a separate bank (he's a contractor) than my ebay/amazon accounts and even our own personal checking account. It may be overkill but it makes me feel better.

[diplomatx]

Any info on jp morgan chase, as i used BOA but they closed all my accounts do to risk.. so now am with chase but have no idea on how they are with paypal.

[Dr.Yes]

chase works very well

[Modee]

The answer to which banks work best for Ebay and PayPal is a fluid one that changes every now and then, but Chase remains good except that not long ago they started charging fees unless a certain balance is left in the account. Chase checking accounts, personal and business, used to be free.

Wells Fargo also seems to work well. I have heard of issues with Bank of America's rejecting incoming ACH deposits where the incoming name doesn't match the account title name.

I am aware that US Bank gets particular with name mismatch paper check deposits - deposit a check into the US Bank ATM that is not made out to the account title name and it is often rejected, but I haven't tried US Bank for incoming ACH deposits.

[Lunestic]

What about TD Bank?