Forum

Prepaid debit cards or Old Fashion Bank Accounts?,
 

Just wanted to see what everyone Is using or prefers in terms of banks and VBA

I personally started with using regular bank accounts but starting to realize that maybe prepaid is the way to go with stealth. With alot of banks adding many fees and hidden fees I feel if you find the right prepaid D you can get away at least with monthly fees and get one withdrawal a month for free

And my biggest like with prepaid Debit cards if your stealth account get in trouble Paypal cannot go into your bank account and overdraw your account if the funds aren't there which is a huge relief.

So what do u prefer these days???

Dabble between the 2 - regular bank is still nice, less fees to deal with

Variety is my business.

I vary what I use.

What i hate is how Paypal can just dip into your account at will, That should be illegal, i understand we sign up for payments but going into someones bank account is a violation from my point of view, that's my main reason for favoring the prepaid cards

Sadly not a violation - the direct deposit/withdrawal is a bilateral agreement

Been others who thought the same

USA bank laws are certainly manipulated by paypal

Manipulation and contortion of the rules - they do push the boundaries...within legal analysis...witty in its own way while annoying to us, users.

I tend to keep my stealth accounts once I can get them up to the first 5-10 selling feedback and don't get a stupid MC999. So I always use traditional bank accounts.

If I were constantly getting shut down for eBay violations. Knowing the stealth guides and how Vero and other things work. I would need to find a new product or do something else with my life. Because spending the hours it takes to properly make stealth accounts for the long run. Don't want to screw it up. For me it takes 4-8 months to properly make a stealth account and get up to 20-30 selling feedback and get some semi decent limits. Then again I tend to keep my accounts for good once I get them running.

Knock on wood but thankfully most of my Stealth accounts have been going strong for about 5-6 years.

When you use a real bank account, open a savings or another checking account also. Whenever money comes in transfer it to the other account(s).

But for anyone scamming people or selling foofoos then they would deserve PP taking the money back.

Yes but if there's no funds it can over drawl your account and than hit with a $35 over draft fee.

Solution
 

Just opt out of the Overdraft protection or whatever they call it through your bank - that way the transaction won't be covered if it exceeds the balance.

But a real bank still can get overdraft whether u have that or not, anyway this happened to me once where ebay billed me twice for seller fees .
I had already paid them for a month and than ebay charged me again and took funds out of my account( original account before stealth) this just caused alot of unwanted problems that took lot of time and calls to do with to correct the situation .
Now that I operate stealth and know how to operate ebay now I never had this problem again but I like adding the prepaid cards not ever having to worry about this situation again

Overdraft protection is what protects you from the balance being exceeded when 0$ are present - without it, you will be hit with fees

Nah, most of the time, opting OUT of overdraft protection is what is the best. Some banks have their different meaning for the term. Opting out means that if you have $5 in an account, and a company charges you $6, it will be declined, and that's it.

Right - but you still get hit with NSF (not sufficient fund) charge...that's what overdraft protects.

Yep any real bank account i had always allowed overdraft and as a result u were hit with the NSF fee around $35

Yeah, but when you opt out, you don't get hit with any fees, there's no reason to, it just declines the transaction. You don't have to worry about fees when you opt out of the overdraft protection.

True.

You need to make sure the bank undertands this.

If you opt out, always better to have something in writing.

Stops issues.

Also, don't forget about the monthly and daily limits that a lot of these prepaid cards impose.

So, to be clear, you want to use the "bank account" attached to the prepaid card to withdraw funds from PayPal?

You have to be selective. Many providers will decline deposits coming in under a different name. MetaBank is famous for this. And a LOT of those prepaid cards are issued by MetaBank.

I have successfully used a couple of WalMart cards for this. Search the forums, there are others as well.

Lastly, if you ask me, real bank accounts are better for stealth as long as the banks don't do name matching on incoming deposits.

first and foremost make sure you use vba until the account is established and trustworthy for a real bank account. I never add a real bank until the account is ripe