Paypal/Bank Account Name Question

[BigTron]

Hello folks, couple of questions if you don't mind.

I opened my Paypal account way back in 2005 but have never needed to use it untill now. Upon trying to get it all confirmed just I hit a few snags.

.....The first being that when adding a bank account it says to make sure your name matches exactly how it appears on your bank statement. When I set my account up all those years ago I just put "First Name - BIG" "Surname - TRON" (Obviously I'm just using 'Big Tron' for the sake of the forum.)

The problem is that on my bank statement my name reads as "MR BIG G TRON" Now my question might sound daft but I'd prefer to be safe than sorry, so......

• Do I put my 'First name' as "BIG"
• "MR BIG G"
• "BIG G"

Or do I leave both the "MR" & "G" out? (I don't see any option to select Mr/Mrs/etc... & no option for adding a middle name initial, but it does say to match your name exactly like your bank statement.

Also, why do I need to set-up a direct debit? I'm not great with banks, I much prefer cash in my hand, but I can't understand why there needs to be a direct debit for Paypal to make two small deposits into my bank, likewise I can't understand why I'd need a direct debit to move funds from my bank to my Paypal & vice versa. Can you please explain why this direct debit is needed.

........And what happens if I don't set-up a direct debit? Can I still transfer money from my bank to Paypal  & vice versa? How about sending the money to other Paypal users?

Many thanks in advance.

[PayPal_david]

Hi there BigTron,

Firstly, if you are trying to confirm your bank account, you should enter your name on the PayPal website as follows:

First Name: Mr Big G Surname: Tron.

You should be able to enter your information like this on your PayPal account but if you are unable to, you could try just entering your first and last names. I realise that this may not be what your bank have on their records but when we send notification to them that you are trying to verify your PayPal account on PayPal, they will either accept or reject this based on the information that we send to them.

Any time a customer opens a PayPal account, we are required to place sending, receiving and withdrawal limits on your PayPal account. In order to have your sending limit lifted, you are required to confirm your bank account. This does involve an electronic direct debit being set up with your bank but you will not be charged on a monthly basis for using PayPal.

When the direct debit has been set up with your bank account, this will give you the ability to fund purchases through your PayPal account funded by your bank account. You would only be charged when you initiate a payment and there will be no monthly or recurring charge like a normal direct debit with your bank.

If you would not like for this to be available with your bank, you can remove your bank account when you have completed the process. This will then cancel the direct debit but you can then register your bank account again to your PayPal account. This will give you the ability to withdraw funds to your bank account but you will be unable to send payments from your bank account.

I hope this information helps.

David.

[BigTron]

Thanks for the reply, David.

Most of it makes perfect sense except for one part. You say.....

If you would not like for this to be available with your bank, you can remove your bank account when you have completed the process. This will then cancel the direct debit but you can then register your bank account again to your PayPal account. This will give you the ability to withdraw funds to your bank account but you will be unable to send payments from your bank account.

...... So by canceling the direct debit I will not be able to move money from my bank account into my Paypal account? Or am I understanding that all wrong?

[PayPal_john]

That is correct,  you can withdraw funds to your bank but cannot move them in the other direction without a Direct Debit.

[lisa035]

hi there ive got the same problem, paypal only asks for first and last name, i have put my middle name in as well but.................... on my card its only got the initial of my middle name(its all the same thing!) frustrated much, but like u said yourself about keeping safe etc.