Although this is about PayPal, any bank would probably respond the same way. Try depositing a check made out to your business into a personal account. Most banks will simply refuse to do so. You can go into the bank and show tons of documentation that you own the business AND if it's an emergency AND you get the bank manager involved they may bend the rules, but usually it simply won't happen. Trying to resolve that over the phone? Forget it.
What this guy is doing (HFC) is a great cause, but the entrepreneurs out there should read this as a cautionary tale. It's because of stuff like this that we need to get our business finances set up properly from the beginning. A few minutes spent filing paperwork a year ago would have prevented all his problems.
Banks (yeah, I know PP isn't a bank) don't screw around!
I have to agree. To me, it seems naive not to expect problems when mixing business and personal banking (corporate veil: pierced), not having the correct paperwork available, using not-on-file email addresses, etc.
If PayPal or a bank didn't insist on these strictures, imagine the outrage when someone's accounts are cleaned out by some fraudster with flimsy, half-good credentials.
Especially when traveling (especially to Africa!) you have to arrange things carefully in advance. Maybe someday things will be smoother, but it's still messy in 2009.
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Going against the tide here...
Although this is about PayPal, any bank would probably respond the same way. Try depositing a check made out to your business into a personal account. Most banks will simply refuse to do so. You can go into the bank and show tons of documentation that you own the business AND if it's an emergency AND you get the bank manager involved they may bend the rules, but usually it simply won't happen. Trying to resolve that over the phone? Forget it.
What this guy is doing (HFC) is a great cause, but the entrepreneurs out there should read this as a cautionary tale. It's because of stuff like this that we need to get our business finances set up properly from the beginning. A few minutes spent filing paperwork a year ago would have prevented all his problems.
Banks (yeah, I know PP isn't a bank) don't screw around!
I have to agree. To me, it seems naive not to expect problems when mixing business and personal banking (corporate veil: pierced), not having the correct paperwork available, using not-on-file email addresses, etc.
If PayPal or a bank didn't insist on these strictures, imagine the outrage when someone's accounts are cleaned out by some fraudster with flimsy, half-good credentials.
Especially when traveling (especially to Africa!) you have to arrange things carefully in advance. Maybe someday things will be smoother, but it's still messy in 2009.
Hackers: Learn to hack your finances, too.