I made a PayPal withdrawal last week on Feb 12, 2008 and today I got to know that my withdrawal has been declined by the bank. PayPal earlier has approved my withdrawal as I could see the transaction completed in my PayPal account. I believe PayPal was in the process of transferring the money over to my VMI card.

However, the VMI bank declined the transaction stating the reason below:

The account number is valid but does not correspond to the name on the account.

Because of this, my withdrawal has been reversed and the bank account has also been removed from my PayPal account. Now I can either contact the bank for more information (which I can’t do) or I can add in a new bank account. PayPal also mention that I should not contact them as this is entirely an issue between the account holder and their bank. I guess now I have to use my Al Rajhi debit card or apply for a new Public Bank Visa Electron debit card.

An electronic funds transfer from your PayPal account to your bank account was declined by the bank. Typically, this happens for one of the following reasons:

- The bank account number does not exist or is otherwise invalid
- The bank branch listed in your PayPal account does not exist
- The bank does not accept electronic withdrawals
- Other reasons not specified by the bank

Before attempting another withdrawal to your bank account, please check that you have the correct information from your bank, and update it in your PayPal profile if necessary.