After opening my QBO account and setting up a QB Checking account in October 2022, I had a few instances in which customers attempted to send ACH and wire payments directly to my QB Checking account. Those payments were rejected by Green Dot. With the most recent attempt, the error message sent from Green Dot to my customer’s bank was “Name Does Not Match”.

After some investigation, I was told that Green Dot set up my QB Checking account as a personal account. That is, they have registered it under my name and social security number, as opposed to registering it under the business name and EIN. As such, ACH and wire transfers sent directly to Green Dot must be addressed with my name, as opposed to the business name, or the bank will reject he payment.

As the QB Checking account was set up to function as an account for my business, it is absurd that it has been set up as a personal account, and that my customers cannot address ACH and wire payments to the business. (NOTE: I understand that my customers could send ACH payments via an Intuit Payments invoice, but I want to be able to give my customers the ABA and Account number so that they can send ACH and wire payments directly to Green Dot.)

Interestingly, while Green Dot asserts that my QB Checking account is registered to me as a personal account, the 1099-INT form issued by Green Dot reported the interest income as being paid to the business. The business name and EIN were on the 1099-INT form.

Ironically, on the one hand (10999-INT reporting), Green Dot correctly recognizes the business as the account owner. On the other hand (receiving ACH and wire payments), Green Dot does not recognize the business as the account owner.