Submitted by [deleted] t3_yihplm in personalfinance
[deleted]
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Werewolfdad t1_iuipj9f wrote
If youre asking if banks can reject ach transfers because the names don’t match, the answer is yes (and they’re supposed to)
She can Zelle or Venmo you. Or write you a check. Or go to a branch and deposit cash
SconiGrower t1_iuipv63 wrote
Banks set up different systems for transferring money between accounts you own or between accounts with different owners. If you opened an account without your mom's name on it, then you will need to use one of the second kinds of transfers. That would be things like Zelle, Venmo, Cash App, etc.
ThatTotal2020 t1_iuiq3ao wrote
Your mom puts $25 into your account from her paycheck by direct deposit? Usually the bank will not process the transaction if the name on the bank account does not match who the payroll check is issued to.
Status_Platypus_6131 t1_iuiqfqa wrote
Yes, she’s been doing this since I was 18. I’m 21 now. I see a lot of responses saying that wouldn’t have been possible, but between my sister and i, she’s technically been doing this for years into accounts we opened as adults. Never been an issue until now 😖
ThatTotal2020 t1_iuiqqsw wrote
It could have been an oversight the other times.
Rave-Unicorn-Votive t1_iuj3gwe wrote
You're using terms like "direct deposit" and "payroll", if this is actually a DD from a payroll processor then it should be able to be deposited into any bank account with a routing and accounting number. If you really mean ACH transfer, and mom's account is with Chase, it's likely the previous accounts were linked in some way.
If you/she doesn't want to go the Zelle route then you can open a middle-man joint account that she deposits into and you withdraw from.
Cara_Marina t1_iujeplh wrote
The Capital One website also says, in the same paragraph you reference that says "Most of the time, no.":
"Also, the bank will likely not authorize a deposit if the name on the deposit does not match the account owner’s name, as this could be an error or fraud."
Status_Platypus_6131 t1_iujr5kk wrote
No, it’s a DD from a payroll processor. 1) I looked at the deposit name that clearly says the processor 2) I saw when she had changed the accounts on her payroll system. That’s why I’m confused as to why I’m having this issue. She has never had an account with Chase, her checking is with a (a larger, national) Trust Bank.
inthe801 t1_iuipfas wrote
Sometimes it can take a pay period or two before direct deposits update. It might have been sent to your old account and rejected.