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Account Name and Bank Name need to be same

Discussion in 'PayPal' started by ashras99, Nov 30, 2011.

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  1. #1
    I am a sole proprietor and today once again (3rd time) my account get's limited and they asked for some bank account changes.

    "Please note that when adding a bank account, Sole Proprietors need to ensure that their full name in the 'Name on Account' field is a match to the name on their PAN Card. For example, when adding your bank account into PayPal, if the Sole Proprietor has a firm name "ABC clothing" & the PAN Card is in the name of 'Seema Khanna' enter 'Seema Khanna' in the 'Bank Name Field' , do not enter 'ABC clothing.'"


    That means we can't withdraw the amount in our current account?
    SEMrush
     
    ashras99, Nov 30, 2011 IP
    SEMrush
  2. Digital_shubhi

    Digital_shubhi Prominent Member

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    #2
    You can withdraw if both account and bank name are same. :)
     
    Digital_shubhi, Nov 30, 2011 IP
  3. ashras99

    ashras99 Peon

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    #3
    Please clear me, in sole proprietorship bank current account.... money can be transferred on a personal name or only business name?
     
    ashras99, Nov 30, 2011 IP
  4. baronet-a

    baronet-a Active Member

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    #4
    which market place is in question? (amazon, ebay, personal website, etc.)
     
    baronet-a, Dec 5, 2011 IP
  5. ashras99

    ashras99 Peon

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    #5
    personal website.
     
    ashras99, Dec 5, 2011 IP
  6. shan micheal

    shan micheal Greenhorn

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    #6
    To withdraw money to your bank account from paypal, one of the rule is to add same name which is used for bank account, to get verified .
     
    shan micheal, Dec 8, 2011 IP
  7. ashras99

    ashras99 Peon

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    #7
    My Paypal name, Bank Name, PAN name all are same... but paypal keep limiting the accounts.

    Whenver i start receiving money they limit the account and if not receive any payments for months then they don't touch the account.

    Last week they verified the account and remove the limitation and now after one week when nothing is changed in the records they limit the account again for the reason "invalid pan"
     
    ashras99, Dec 8, 2011 IP
  8. Dolphin Group

    Dolphin Group Peon

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    #8
    Why dont you better call up and talk directly? That would work faster.

    If you are planning to call try calling using Toll Free number using Skype as they will make you wait for 10 to 15 minutes and your ISD charges will eat up your mobile balance lol
     
    Dolphin Group, Dec 9, 2011 IP
  9. ashras99

    ashras99 Peon

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    #9
    through twitter they also work very fast, but problem is they need min 24hrs time to fix any issue.
    Today my problem is solved again....but hopefully within next 10 days will arise again... because there automatic processor is too bad.
     
    ashras99, Dec 9, 2011 IP