Banks details - before i mess things up

[litew8]

Hi guys and gals thanks for all your very helpful info on here, i have the book and read it several times but just want to confirm one thing before i hit the add button as dont want to black list my new ID for stealth.

Could i just confirm this is OK to do.

I have a VCC with entropay which i will be adding to PP.
Do i still need to add a bank account or will just the VCC be suffice?
If i add a new bank account i can use my new unmarked bank account (in my proper name) but just use bank account number and sort code and use my new stealth ID's name?

From what i read Paypal do not check the name on the bank account against the bank account number and sort code?

I am based in the UK.

[james169]

That's correct, pp cannot check the real name you have on your bank account so you can use your stealth details for registering it with on PayPal.

You just need to make sure it is a bank that accepts mismatched name deposits such as Halifax, natwest, rbs, etc.......

[litew8]

Originally Posted by james169

That's correct, pp cannot check the real name you have on your bank account so you can use your stealth details for registering it with on PayPal.

You just need to make sure it is a bank that accepts mismatched name deposits such as Halifax, natwest, rbs, etc.......

ive not opened a new account yet and was going to today, who would be your favoured bank?

BTW i will using the entropay virtual credit card card for deposits/withdrawel so do need to use a bank acc. or is that a fundamental requirement of PP?

thanks in advance

[james169]

My favourite is Halifax as you can open up to 4 sub accounts from their online savers which you can then also use for pp, so you get 5 bank accounts for 1. Also easy to close and reopen a new one online when needed

[litew8]

Originally Posted by james169

My favourite is Halifax as you can open up to 4 sub accounts from their online savers which you can then also use for pp, so you get 5 bank accounts for 1. Also easy to close and reopen a new one online when needed

thats who i was actually thinking of using just for ease. thanks for that.

My question is then as im not going to be using this bank account for transaction do i need to add bank details on paypal?

i will be using entropay VCC for all transactions

[james169]

Depends on if you get a 0/0 limit account when you try your first listing, if you do and you want to sell then you will have to attach the bank account to pp to confirm the bank account, then link it to your eBay, they will then decide if your selling limits will be raised and if they are, they will then be 25 items / £750 per month, if not then onto the next account.

If you want to take any money out of pp then you will also need to have your bank account attached to it to withdraw to

[litew8]

Originally Posted by james169

Depends on if you get a 0/0 limit account when you try your first listing, if you do and you want to sell then you will have to attach the bank account to pp to confirm the bank account, then link it to your eBay, they will then decide if your selling limits will be raised and if they are, they will then be 25 items / £750 per month, if not then onto the next account.

If you want to take any money out of pp then you will also need to have your bank account attached to it to withdraw to

Im using my friends ID so should be able to verify in worst case scenario, how does ebay set its selling limits when you first start up then? Is it based on funds in bank or account health\status?

I was intending to let the account rest for a month or so before i sell, may do some buying just to get things moving as i cant see that affecting me negatively.

[Callidus]

Why you using your friends ID....such a bad move. No need for it

[GreenBean]

Originally Posted by litew8

ive not opened a new account yet and was going to today, who would be your favoured bank?

BTW i will using the entropay virtual credit card card for deposits/withdrawel so do need to use a bank acc. or is that a fundamental requirement of PP?

thanks in advance

Nope, you are not quite on the right track.


You use a bank account to verify your paypal and get your funds by transfer.

You use your VCC ( in your case, entropay) to confirm paypal.

ebay UK does prefer a verified & confirmed paypal to sell with.

Good Luck.

[litew8]

Originally Posted by Callidus

Why you using your friends ID....such a bad move. No need for it

Im using my friend proper details (his name and address), he has never and will never use ebay or paypal so i can easily get his docs if i get an ID check. Sorry i probably didnt use the correct terminology but i do understand that is the best method getting new accounts in case of check later.

[JamesNorth101]

The problem is you may well have tax implications if your using your friends ID.

[litew8]

Originally Posted by GreenBean

Nope, you are not quite on the right track.


You use a bank account to verify your paypal and get your funds by transfer.

You use your VCC ( in your case, entropay) to confirm paypal.

ebay UK does prefer a verified & confirmed paypal to sell with.

Good Luck.

Ok so does that mean my VCC will confirm without giving away name and address details but the bank card will?

So you just use your real bank account number and sort code with stealth name and address on paypal. You do not use any bank card associated with this real bank account, only the VCC which does not give away your name and address details?

Im guessing that any bank cards from new proper bank account in my real name are not usuable as they give away name address details and would create a link back and a limitation?

[litew8]

Originally Posted by JamesNorth101

The problem is you may well have tax implications if your using your friends ID.

He will be employed by myself and everything will go through my tax return so i will easily be able to prove where the money has come from and that tax has been paid on it. cant see a problem here as ive had people work for me before under their ebay and paypal accounts and never had any problems.

[GreenBean]

Originally Posted by litew8

Im using my friend proper details (his name and address), he has never and will never use ebay or paypal so i can easily get his docs if i get an ID check. Sorry i probably didnt use the correct terminology but i do understand that is the best method getting new accounts in case of check later.

No longer.

Concept changed and if you read over the forum, this is often said as a method not to use.

[litew8]

Originally Posted by GreenBean

Not longer.

Concept changed and if you read over the forum, this is often said as a method not to use.

I wont be doing a lot on ebay only a few hundred £s a month nothing big time, would i stay under the radar from there?

You think the issues i will face is with tax (for my friend), but wouldn't have any issues with ebay and paypal if done correctly?

[GreenBean]

Originally Posted by litew8

Ok so does that mean my VCC will confirm without giving away name and address details but the bank card will?

So you just use your real bank account number and sort code with stealth name and address on paypal. You do not use any bank card associated with this real bank account, only the VCC which does not give away your name and address details?

Im guessing that any bank cards from new proper bank account in my real name are not usuable as they give away name address details and would create a link back and a limitation?

Nail on head.

Nice one!!!!

[litew8]

Originally Posted by GreenBean

Nail on head.

Nice one!!!!

Thanks Green finally seem to have got my head round it.

Now just the other issue with using my friends name, ive looked on here and cant easily find a thread discussing this, i find myself readying so much unnecessary stuff it confuses things, does anyone happen to have link to the right thread?

Thanks in advance again..

[rsot]

Originally Posted by litew8

I wont be doing a lot on ebay only a few hundred £s a month nothing big time, would i stay under the radar from there?

You think the issues i will face is with tax (for my friend), but wouldn't have any issues with ebay and paypal if done correctly?

Few hundred would depend on a) how fast and b) which product (example of things to consider).

As for tax...even if done "correctly", you never know so don't play with friend's accounts(s)

[litew8]

Originally Posted by rsot

Few hundred would depend on a) how fast and b) which product (example of things to consider).

As for tax...even if done "correctly", you never know so don't play with friend's accounts(s)

Hi Rsot thanks for your reply, my friend has never been anywhere near ebay or paypal and never will, hes a techno phobe btw, he just said he didnt mind me using his name for verification purposes (if and when needed).

I cant see how i would be breaking the law with any of this as i run a small business and regularly have to get people work for me on temporary basis, as long as the inland revenue receive the correct tax i cant see any problem. and i can prove where the money has gone etc. Infact putting it through my books would generate more income for the taxman than him doing it through his books as self employed.

The items i will be selling are PC hardware parts for laptops etc, all used items system pullls fully tested etc. I had 3 account son there for more than 10 years till i got some problems on 1 account and they took them all down. lesson learned hence why i am here.

My question is if this is so wrong to use a real person ID with their permission (it was the recommended way before) then what are the reasons other than tax issues as we do fully intend to pay all revenue that is due.

I can se this probably looks and sounds dodgy to someone else but its not the case.

[RosieTosie]

No computer parts on new accounts, will just attract unwanted attention to your new stealth account. Computers and their parts are too easily and frequently counterfieted. You need to find things from around your home, things that would have been everyday things that you no longer use, start your new account up by listing a few of those things and wait and see if they sell, after the first week list a few more, and then again in the third week, adding more items each time. Then after a month or so you can start to sell things who want to sell.

But probably still not computer parts, if you read around this forum a little more you will find many posts and threads saying the very same things about computers and their parts.

[luverlyjuberly]

Originally Posted by james169

My favourite is Halifax as you can open up to 4 sub accounts from their online savers which you can then also use for pp, so you get 5 bank accounts for 1. Also easy to close and reopen a new one online when needed

Is the Reward Current Account suitable and how long does it take to get fully set up to use with eBay and paypal?

[james169]

It would be suitable, as to if it lets you create the online savers I don't know as I haven't used this before, it would be good to go as soon as you have your online banking details to be able to see the verification code PayPal send to your bank account which you then enter into PayPal to fully verify it