Card One Banking

[ivonnewun]

I have came accross this company, offer a banking account.. It does not allow DD, but i have a number of paypal accounts which are verified at the minute..

I registered with them today and i got a bank account number and sort code right away.. Am i right in saying as my paypal is already verified i can add this as a savings account and withdraw without verifing this account?

HELP ?

[ivonnewun]

And does the card one account show up on your credit file? If you do an experian check ?

[bode]

No credit checks according to their website, but they may submit reports. If there is any talk about improving your credit rating that is your clue.

I would guess that Paypal still needs to verify this by placing the two small desposits into the card one banking.

But it looks good apart from the £30 sign up fee and the £12.50 monthly charge.

[ivonnewun]

is this just effectively an expensive bank account ?

[bode]

To be honest yes, they are aimed at people who "can't" get bank accounts and charge you dearly for it.

Free options if you have no decent credit ratings:
Nationwide Basic
Co-op cashminder (not sure if it has online banking)

Free Business Accounts
Santander Business banking with optional free Business Reserve account.
Alliance & Leicester Business.

There are probably more...you could maybe check other debt forums or moneysavingexpert etc.

[aslam]

I believe if this bank as you said above doesn't support DD then paypal will not accept it even if your account was verified before on another account as paypal will send the Direct Debit request to this bank and ASAP this bank refuse it paypal will remove it from your account

thanks

[ihatescams]

Yes , if your account is allready full verified then you can withdraw funds into your card one banking account without sending the 2 small deposits , but just one question , don't you have to send the 2 small deposits to become fully verified in the first place ?

Anyway , i can confirm that i have used card one banking to withdraw funds from paypal without sending the 2 small deposits first .

Oh, and btw, card one banking are going to introduce dd facilities within the next 2 months so soon you will be able to become fully verified and send the 2 small deposits with card one banking.

Yes, card one is expensive , but it's a guaranteed bank account , you'll get it as long as your not asama binladen ,
If you have thousands tied up in a paypal account then who gives a stuff about the reg & monthly fee's .

It worksd and it's guaranteed !

[oompaloompa]

yes, hope out there for all you desperados

[aslam]

Originally Posted by ihatescams

Yes , if your account is allready full verified then you can withdraw funds into your card one banking account without sending the 2 small deposits , but just one question , don't you have to send the 2 small deposits to become fully verified in the first place ?

Anyway , i can confirm that i have used card one banking to withdraw funds from paypal without sending the 2 small deposits first .

Oh, and btw, card one banking are going to introduce dd facilities within the next 2 months so soon you will be able to become fully verified and send the 2 small deposits with card one banking.

Yes, card one is expensive , but it's a guaranteed bank account , you'll get it as long as your not asama binladen ,
If you have thousands tied up in a paypal account then who gives a stuff about the reg & monthly fee's .

It worksd and it's guaranteed !

You can even withdraw mooney on unverified account by just adding a bank account and same day when you add bank account you can send withdraw request money will reach to your account in 3-4 days and paypal will wait for 10 days for 2 small transactions and then will remove it from your paypal account you can repeat this process upto 500£

thanks