Bank account name | name on bank account. The first sentence always seem confusing at first, but on the second look, you might understand what it is.
However, when you see bank account name, it may not necessarily mean that it is the name on your bank account, but another context. This is what i’m going to make you to understand, the different meaning of account name.
Bank account name
What is bank account name?
The name used in identifying a bank customer or probably the name used to identify the type of account you have with the bank.
I always see this when making online payment or money transfer, and it might be confusing a lot for people.
Normally, when you see bank account name, it means the name of the account holder. This is the very first instinct that comes to your mind, they are requesting for my name.
However, they may be requesting the type of account you have with the bank and not necessarily the name on bank account.
If you see such maybe you’re trying to make a payment online, or registering on any of these online money transfer like PayPal, western union, ria etc that requires the user’s bank account details, you’ll have to look closely and understand what they are requesting from you.
In order to know that they are requesting the name on your bank account, it will be the very first question on the form. To know if they are requesting for the type of account you have with your bank, this comes immediately after bank name and account number.
I’ve seen some people on PayPal ask what is bank account name and i entered my full name but still PayPal isn’t linking my bank account to my PayPal account.
This is another issue i want to resolve. Usually it is caused by improper name arrangement.
What i mean by that is the name arrangement should be in accordance with the name on your bank account.
For example name on bank account is Maria Jessica Lewis. Maria is your first name, Jessica is your middle name, while Lewis is your last name (surname).
Linking your bank account to Paypal, you entered Lewis as first, Maria as your second name and Jessica as your last name. In this case, linking your account number to PayPal for example isn’t going to work unless you do it properly.
Name on bank account
When you see name on bank account, this literally means the name which you used in opening your bank account.
This is very much different from bank account name, it specifically states and indicate that they are requesting for the name on bank account. This is the full name of the account holder and not the type of account
Name on bank account specified that they are requesting for the name which you used in opening your bank account, while bank account name can be the name on your bank account or the type of account you have with your bank.
It may be very confusing, but you need to understand what they are actually requesting from you especially if it comes after bank name and bank account number.
How to check bank account name arrangement
To check your bank account name arrangement can only be done inside the bank, or you as well contact your bank and request that they tell you how your name is written on your account.
If the name arrangement is incorrect, it is recommended that you have to correct it cause it might cause some problems for you in the future.
To correct it might require you providing your bank with your means of identification like your national ID and the names must be properly arranged on your ID.
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I bet this post has helped you to understand what bank account name means and also name on bank account. If you’re still confused, you can drop your comment on the comment box below.