27 {{ upvoteCount | shortNum }}
27 {{ upvoteCount | shortNum }}

Using Someone Else's Bank Account To Verify PayPal

by 3000
19 replies
I want to start selling some of my old domains on Flippa and other sites like that, but they pay you through PayPal.

My problem is my account isn't verified still because I don't have a bank account and I don't want to sign up for their Master credit card.

I was wondering if I can use say my girlfriend's, sister's, etc. bank account to verify my account and just receive checks from PayPal addressed to me?
#account #bank #paypal #verify
  • Profile picture of the author PandaPoacher
    Why can't you set up a bank account? I never had to sign up to a master credit card or anything like that. I have a debit card for my checking but that's it. If it's different for you, why not try applying with a different bank?

    Personally I'm not a fan of using someone elses bank account, but it's been done.
    Signature

    How to Get WSOs for FREE
    http://wsos4free.blogspot.com/
    Complimentary Report
    {{ DiscussionBoard.errors[4988378].message }}
  • Profile picture of the author AmandaT
    I've been trying to figure something out as well. I messed up my credit when I was younger and am trying to rebuild it now, but banks check your credit when you sign up for a savings account now so I haven't been able to open one.
    Signature
    {{ DiscussionBoard.errors[4988391].message }}
    • Profile picture of the author 3000
      Originally Posted by AmandaT View Post

      I've been trying to figure something out as well. I messed up my credit when I was younger and am trying to rebuild it now, but banks check your credit when you sign up for a savings account now so I haven't been able to open one.
      I just spoke with a credit union and they said I can open up a savings and checking account. You should ask your local credit union maybe it will work for you too .
      {{ DiscussionBoard.errors[4992052].message }}
    • Profile picture of the author Steve Wells
      To improve your credit and rebuild it, get a secured credit card. You can only spend what you have, so it will not be a problem to get one. Its a real credit card, but you have to have the money in your account to back up any purchases. This way you build credit with them and eventually they give you a unsecured credit card, providing you make you payments on time....
      Signature
      Need Custom Graphics Work? - Message Me For A Design Quote!
      {{ DiscussionBoard.errors[4992083].message }}
  • Profile picture of the author 3000
    Long story short I let a family member borrow some money and it screwed me with the banks. So I'm still trying to work that out...
    {{ DiscussionBoard.errors[4988395].message }}
  • Profile picture of the author WillR
    They don't allow you to open a savings account? Where is the risk in that for them?

    I'm not questioning you, just curious.
    Signature

    .


    .

    {{ DiscussionBoard.errors[4988396].message }}
  • Profile picture of the author AmandaT
    No idea. I just get denied when I try because of my credit.

    And ya, mine was similar. My mother put my name on the bills when I was a teen and didn't pay them. Didn't help that I took out a few too many student loans for college and then couldn't find a job. Rebuilding little by little but the banks still turn me away.
    Signature
    {{ DiscussionBoard.errors[4988410].message }}
    • Profile picture of the author WillR
      Originally Posted by AmandaT View Post

      No idea. I just get denied when I try because of my credit.

      And ya, mine was similar. My mother put my name on the bills when I was a teen and didn't pay them. Didn't help that I took out a few too many student loans for college and then couldn't find a job. Rebuilding little by little but the banks still turn me away.
      It's funny. The banks spend all their time ripping everyone else off and the moment it happens to them, they don't want a bar of it.

      To the OP, I would imagine the bank account has to match the details on your Paypal account otherwise there would be too much room for manipulation. Maybe you could just get one of your family members who do not already have a Paypal account but do have a bank account, to signup and create an account that you can use.

      I'm also not too sure about Paypal sending you checks. I thought the whole purpose of making you link a bank account is so you have somewhere to transfer the money. Do Paypal really send out cheques?
      Signature

      .


      .

      {{ DiscussionBoard.errors[4988432].message }}
    • Profile picture of the author JMB Marketing Group
      [DELETED]
      {{ DiscussionBoard.errors[4994659].message }}
      • Profile picture of the author Mansion
        PayPal has gotten extremely strict, as of the past year or so. They will limit your account for almost no reason if you are making a lot of money, they'll want you to send extra verification for minor things, so if you plan to make a lot of money then this is not the way to go.

        If you are selling something under your relatives account make sure that the account details are under their name, just in case PayPal question you and want verification everything is legitimate.
        {{ DiscussionBoard.errors[4994734].message }}
  • Profile picture of the author AmandaT
    Ya, PayPal will send checks even if you aren't verified, but after a while they will start locking your account until you verify or call them and convince them to open your account. I've had a lot of issues with it.
    Signature
    {{ DiscussionBoard.errors[4988441].message }}
  • Profile picture of the author Sheila Dunfrey
    I just added one yesterday. It said it had to be the same address as the Paypal account holder and there was no option to change that.
    {{ DiscussionBoard.errors[4988446].message }}
  • Profile picture of the author pacelattin
    There are other issues to think about before you do this.

    What if you start making money? They then report transactions now to the IRS. Suddenly your girlfriend gets a letter from the IRS saying she owes money, plus interest, plus penalties... not worth it

    Create a corporation is Wyoming, get a TAX ID for that Corporation, open a business bank account. Even if you are not a US Citizen, you can open a Wyoming LLC.

    Originally Posted by 3000 View Post

    I want to start selling some of my old domains on Flippa and other sites like that, but they pay you through PayPal.

    My problem is my account isn't verified still because I don't have a bank account and I don't want to sign up for their Master credit card.

    I was wondering if I can use say my girlfriend's, sister's, etc. bank account to verify my account and just receive checks from PayPal addressed to me?
    Signature
    {{ DiscussionBoard.errors[4988508].message }}
    • Profile picture of the author 3000
      Originally Posted by Sheila Dunfrey View Post

      I just added one yesterday. It said it had to be the same address as the Paypal account holder and there was no option to change that.
      That's cool maybe I can use my girlfriends account then she lives with me.

      Originally Posted by pacelattin View Post

      There are other issues to think about before you do this.

      What if you start making money? They then report transactions now to the IRS. Suddenly your girlfriend gets a letter from the IRS saying she owes money, plus interest, plus penalties... not worth it

      Create a corporation is Wyoming, get a TAX ID for that Corporation, open a business bank account. Even if you are not a US Citizen, you can open a Wyoming LLC.
      If the above statement is true about just having the same address then I can just have them send me a check with my name on it without actually transferring any money to my girlfriend's account.

      That way my tax guy can just use the checks and PayPal statements to file my taxes.

      Originally Posted by AmandaT View Post

      Ya, PayPal will send checks even if you aren't verified, but after a while they will start locking your account until you verify or call them and convince them to open your account. I've had a lot of issues with it.
      Yeah, that's true, that is why I want to verify my account first so no more headaches come up.
      {{ DiscussionBoard.errors[4988561].message }}
  • Profile picture of the author ronaldmd
    Using paypal can be hard sometimes. Even with your real bank account, especially if you use someone else's bank account.
    Signature
    {{ DiscussionBoard.errors[4988584].message }}
  • Profile picture of the author iDesigners
    Well, verifying account with someone else' account means the money goes to them:-)
    Signature
    World's #1 Affordable Logos
    {{ DiscussionBoard.errors[4992131].message }}
  • Profile picture of the author Josh Anderson
    If you do, you should have them get a new bank account that is ONLY for that purpose.

    The reason is because if your paypal account gets hacked then the person who's bank account and credit cards it is linked to can have their accounts emptied by thieves.

    Also expect to withhold money to cover yours, and their income tax liabilities for the income paypal will report.

    Personally... my advice to you would be to be very careful if you choose to go that route because you could hurt someone else's credit if you screw up...

    And my advice to anyone who asked if they should allow you to use their bank account would be... no way.
    Signature
    Nanacast Review
    {{ DiscussionBoard.errors[4993215].message }}
    • Profile picture of the author cthorpe
      If you are having trouble with the big national banks, look for credit unions in your area. Many are a lot more willing to work with you if you have credit issues, especially since the decision makers are usually accessible to everyone (including you).

      Just make sure you go to the main branch of the credit union you are applying to so there will be people there who can override any automatic blocks.

      And be honest about any negative things that you know are on your credit report. They will find them anyway, so there is no use trying to hide it.

      Carl Thorpe
      Signature
      Fully loaded WordPress packages with $100s in premium components - multiple packages available
      {{ DiscussionBoard.errors[4993284].message }}
  • Profile picture of the author BeenThereDoneThat
    Well, every time I've tried to help someone out by giving them access to my account for some transaction it's ALWAYS come back to bite me in the arse. Just saying. Seems like it's always better to keep your financials private and secure from others. JMHO of course.
    Stef
    {{ DiscussionBoard.errors[4994829].message }}

Trending Topics