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Question about spreading your sales oneBay.
 

I have a question for all experts here. I hear a lot of you talking about spreading your sales over many accounts. That's fine with me. It's not a big deal to sell on 10 accounts, little by little but how do you deal with so many bank accounts? Since every PayPal has to have a valid bank account. So if you opened 10 checking accounts at your local bank, wouldn't they suspect they are are doing something illegal even if you are not? So how to you avoid this? Are there any online banks that one could open instead?

Hopefully someone from Canada will chime in.

Here in the USA bank accounts are relatively easy to get. We have tons of banks and credit unions to choose from. Not sure what your choices are in Canada.

Also, we use Walmart Moneycards that come with an attached bank account, GreenDot Cards and other prepaid cards.

You are correct about not using one bank for 10 accounts. Same idea applies to banks as to eBay accounts. Stay relatively small and spread out over several accounts and banks. You want to fly under the radar. Taking in $5k per month on each of 10 accounts with the same bank will get you booted pretty quickly. Not to mention, they could refer your case for an investigation.

Thank you for your very interesting and valuable insight. In fact thank you for your reply, you big fat cat :)>

We do have more than a few banks in Canada but probably not as many as you have in the old USofA.

And to my knowledge here in Canada we don't have debit cards that come with a checking or savings account/. That would be awesome. If someone knows I hope they will PM me about it.

I heard that one can open an online bank account with direct ing canada where you can open as many accounts as you want but I am not sure.

I don't know what the rules are for PayPal Canada -

Do you have to verify your account with a bank number, or is a credit card optional too?

Will entering a USA bank account number work?

I am not for opening 10 accounts at one bank.

If you can open 1 checking and 1 savings at a local or online bank and repeat 5 times.

Someone has a thread here with some good banks to use.

Since you are in Canada you might be limited but you can do the research and work this out.

I am sure RSOT can help but he/she won't divulge this information. I mean I can understand why. If everyone was helping each, no one would be making money on eBay. There is always a competition between sellers. No one really wants you to be successful because you have the potential to take their business away.

here in aus we can just open accs online instantly

Is it risky to have multiple banks accounts in one bank? One of the retail banker told me its fine as long as I pay the monthly maintaince fee

/quote

I am sure RSOT can help but he/she won't divulge this information.

@stanislav, you never asked me so what's with this presumption? I have not even seen the thread but ok so here we go - simply put:

Canada has several banks - RBC, Laurentian, CIBC, TD, ScotiaBank, BMO, NBC, HSBC, Desjardins...

You want simple approach? You make 2-3 at each and use those to verify pp. Problems? Not really - lot of work? Sure.

Other approaches...you get US bank accounts - yes you will need to SPEAK to US banks via phone and submit ID but also a route.

Another approach? You open up some CCN ows and other processors and bill yourself.

Risky approach? You xfer between your pp's to a verified pp. I personally don't like operating without verified pp's.

There are other approaches too.

/quote

No one really wants you to be successful because you have the potential to take their business away.

@that remark, well am not in the market hard now but if I was - sure, you bet ha. But seriously, you want to move product - am down for some talks...

All the best.