This is how to withdraw your money from PayPal without bank account

taerese · #1 08-23-2015

Hi Guys!

Here is a smart idea I just thought of for getting your money from PayPal without a bank account. Well, it will come at a cost but its worth it.

People always ask why cant you just open a new bank account, but reality be told its not as easy for everyone as it is for you plus how many bank accounts do you wanna burn. My rule of thumb. Dont add a bank account until your account survives 4 months above standard

Now this is what I am thinking. Practically simple if you DONT want to attach another bank account to PayPal.

Follow this steps:
1. Send your money as payment for gift without physical shipping address to someone else. E.g send £60 to someone else and in return the person sends you disposable visa card. Then withdraw that visa card as a transfer to your bank.

Still not clear?
Lets assume you send me a PayPal balance of £60. I will then email you a £50 worth of 3V prepaid visa card. Then you login at 3V prepaid to activate the card I sent you. You can withdraw this money to your bank account. 3v will charge you £3.50 for bank transfer.

As you can see from the above scenario, the commission is too much £13. So it makes practical sense if you are transferring in excess of £100.

Its a simple logic you can do with friends, family and people who dont use their PayPal to sell on ebay, otherwise they get link and when you are down they go down too.

Also, be careful who you deal with as people can easily place chargebacks on your PayPal. So make sure you deal with people you can trust.

If you sell on ebay and having trouble with withdrawal and would like to take this approach of trading your PayPal money for 3V. I will be open to do business with you as long as you are doing a legit business. Just PM me

Callidus · #2 08-23-2015

Such bad practice, will end in tears VERY quickly.

taerese · #3 08-23-2015

Quote:

Originally Posted by Callidus

Such bad practice, will end in tears VERY quickly.

Just how is it bad?

easy.bake.oven · #4 08-23-2015

I don't think just anyone on here can sell.

I think a mod will tell you off soon.

sax4 · #5 08-23-2015

Why would the person send you a card? Get him to send you cash.

Not a good idea, you cannot base your business model on sending gift payments, look how many times people get the "cannot send your payment now" message. You would need multiple people to receive as too many payments to one account would flag it

taerese · #6 08-23-2015

Quote:

Originally Posted by sax4

Why would the person send you a card? Get him to send you cash.

That ultimately qualifies as a financial service. You dont want to get into that.

Quote:

Originally Posted by sax4

Not a good idea, you cannot base your business model on sending gift payments, look how many times people get the "cannot send your payment now" message. You would need multiple people to receive as too many payments to one account would flag it

Dont get me buried yet, there maybe other options people can think about, this just came off my head and thought of sharing.

Good luck ya all.

Callidus · #7 08-23-2015

All the other options are burned or have proven unsuccessful which is why a bank account is your BEST method.

taerese · #8 08-23-2015

Quote:

Originally Posted by Callidus

All the other options are burned or have proven unsuccessful which is why a bank account is your BEST method.

The world will never be short of ideas! I dont see why this aproach will not work and you haven't said how and why it wont work though. Business is all about risk and how much you are prepared to take such risk.

I will be willing to entertain any legit seller based on the approach I highlighted above. It's worth practicalising

yankee · #9 08-23-2015

It is flawed in every way possible. The reason most all of us are not going to get into details of why is because all of that info has been posted on this site over the years in bits and pieces.

But a few major issues:
1.) gift payments
Not sure how many hundreds or quite possibly thousands of times this has proven bad on this forum alone. It is a linking tool for paypal and paypal HATES anyone who abuses the gift option and takes it as a serious circumventing fees offense.
FORGET gift funds even exist.

2.) You are talking about a large scale use of depending on other regular people and a series of annoying steps to boot. This will quickly if not instantly prove unreliable.

3.) No offense at all, but this is small thinking. Kinda like the one time withdrawal methods. Might be ok for a small balance from a limited ebay account with a living paypal but even then, I would not do it.

Callidus · #10 08-23-2015

It seems you're wanting to avoid withdrawing to a bank account, in theory you can have as many bank accounts as you wish as long as you have a good reason for it. Businesses run loads and loads, it's not an issue as long as you don't abuse it.

taerese · #11 08-23-2015

I dont normally respond to your posts and you know why but for this sake, I would like to clarify the below points.

First of, I would like everyone to understand that this is just my own thinking and wether or not it works, its just a thought at this stage.

Quote:

Originally Posted by yankee

1.) gift payments
Not sure how many hundreds or quite possibly thousands of times this has proven bad on this forum alone. It is a linking tool for paypal and paypal HATES anyone who abuses the gift option and takes it as a serious circumventing fees offense.
FORGET gift funds even exist.

It doesn't necessarily have to be gift payment. You could practically checkout from an online store for a service, digital goods, e.t.c. Each store will have a lifespan and you will not even checkout from same store twice in a month. The store created specifically for this service. Ideally, each user account will be advised not to use the service more than ones a month and my checking out PP will not have an associated ebay account [quote]

Quote:

Originally Posted by yankee

2.) You are talking about a large scale use of depending on other regular people and a series of annoying steps to boot. This will quickly if not instantly prove unreliable.

Each user will be vetted before accepted. Its a simple logic and I dont see why it will be unreliable. You will get a visa card as long as I receive your PayPal payment. Simple as that.

Quote:

Originally Posted by yankee

3.) No offense at all, but this is small thinking. Kinda like the one time withdrawal methods. Might be ok for a small balance from a limited ebay account with a living paypal but even then, I would not do it.

No offence at all. Yeah, 1 time withdrawal per month per user account recommended.

taerese · #12 08-23-2015

Quote:

Originally Posted by Callidus

It seems you're wanting to avoid withdrawing to a bank account,

Yes oo 100%

Quote:

Originally Posted by Callidus

in theory you can have as many bank accounts as you wish as long as you have a good reason for it. Businesses run loads and loads, it's not an issue as long as you don't abuse it.

Yeah! works in theory but in practical not everyone can have as many bank accounts as they wish. A lot of banks will refuse you this days for credit checks and other reasons. Dont let me start on that. Lolz

yankee · #13 08-23-2015

Quote:

Originally Posted by taerese

I dont normally respond to your posts and you know why but for this sake, I would like to clarify the below points.

I never noticed that you did not respond to my posts and I have no idea why you would or would not. I don't think I really know you at all.