Paypal Business Account: do I need a matching bank account name?

by Joe Ox
8 replies
I've tried to look for an answer on google and on paypal's forum but I haven't found much. Before calling them and having to kill myself trying to understand the costumer service guy accent I was thinking it was worthy to give it a try here.

I have a UK personal bank account registered with my real name, let's say John Smith. I currently also have a paypal UK premier account registered with John Smith's name.

I'm about to publish an ebook on sunday. On my website I use a fake name, let's say Joe Ox.

I'm using ejunkie to process the payments and when doing a trial purchase I noticed that my real name is displayed on the receipt that paypal sends to the buyer.

If I upgrade to a paypal business account I can use a fake name (Joe Ox) on the receipt.

1) In that case do I need to have a bank account with the same fake name (Joe Ox) in order to withdraw the money from the paypal account to the bank account?

2) do I only have these two options?
* display my real name to customers
* register a business name and open a bank account with that name
or are there other options I'm unaware of?

I would appreciate some tips on this.
Thank You

- Joe
#account #bank #business #matching #paypal
  • Profile picture of the author cyberdad
    When I opened my PayPal business account years ago, the name on the bank account I associated with it was not the same as the name I had on my PayPal business account. Don't know if it's still that way or not.

    HTH

    Dave
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  • Profile picture of the author Lloyd Buchinski
    I'll second cyber's comment. You don't need either a business bank account, or a registered business name to have a pp business account.
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    • Profile picture of the author Alex Mensah
      Originally Posted by Lloyd Buchinski View Post

      I'll second cyber's comment. You don't need either a business bank account, or a registered business name to have a pp business account.
      That is true I didn't have to do either of these to get my paypal business account. hope that helps.
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  • Profile picture of the author WillR
    My bank account and Paypal account names do not match but that was about 10 years ago that I set i tup. A lot of places will require your business name and bank account names to match so I wouldn't be at all surprised if Paypal also do nowadays.

    You certainly can't go wrong if they do match. I would recommend it just as an extra layer of protection for you and your Paypal account.
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  • Profile picture of the author Alex Blades
    I've tried to look for an answer on google and on paypal's forum but I haven't found much. Before calling them and having to kill myself trying to understand the costumer service guy accent I was thinking it was worthy to give it a try here.
    I don't think they do, but it's been a while since I opened my account so not sure. Your best bet is to call Paypal and ask them yourself. Paypal has always had great customer service in my experience over the years, so that would be my first option before posting any thread.
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    • Profile picture of the author Joe Ox
      I can have a paypal business account at Joe Ox's name and a bank account at John Smith's. This is fine.

      The only problem is that I can't withdraw money from a Joe Ox's account to a John Smith's if you see the problem.
      The problem would be the withdraw.
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  • Profile picture of the author Joe Ox
    I've talked to paypal just now.
    In case someone needs help with this in the future, here is what they told me.

    I can upgrade from premier to business account and display a business name on my customer's receipts and be able to withdraw money on my previously added personal bank account.

    However from now on, if I want to add other bank accounts to my paypal account they'll need to match the paypal business account name.
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  • Profile picture of the author Abhik
    Have you tried contacting PayPal Support? Only they can provide authentic and official information.

    I have a business account with my business name but have my personal checking bank account linked.

    Edit: Sorry, didn't noticed your previous reply.
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