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Old 01-12-2016
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Default Sending money from stealth PP to stealth PP

So im expanding again, and I am using 2 banks to keep my accounts with.

Bank 1 has 3 accounts, and Bank 2 has 6 accounts.

I want to open up 6 more accounts with bank 2 because they have free checking accounts, so in total have 15 ebays + paypals going.

Will this cause any suspicion when I go in and want to open up 6 bank accounts? what would I say when I walk in?

Possible work around:

I was thinking of making all the ebays and paypal accounts have them verified with a VBA and a VCC, then taking the money from the sales and transfer it to one of my other Paypals that already has a real bank linked to it and withdraw from there.

it seems like it would link them. I just want to be safe. Has anyone done this and got away with it, is anyone currently doing this?

Thanks in advance!
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  #2  
Old 01-12-2016
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Default Re: Sending money from stealth PP to stealth PP

It can work for a few weeks to a few months but PayPal are aware people do it. They nearly always shut down the accounts when they do find it happening
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Old 01-12-2016
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Default Re: Sending money from stealth PP to stealth PP

Quote:
Originally Posted by MakingMoney22 View Post
So im expanding again, and I am using 2 banks to keep my accounts with.

Bank 1 has 3 accounts, and Bank 2 has 6 accounts.

I want to open up 6 more accounts with bank 2 because they have free checking accounts, so in total have 15 ebays + paypals going.

Will this cause any suspicion when I go in and want to open up 6 bank accounts? what would I say when I walk in?

Possible work around:

I was thinking of making all the ebays and paypal accounts have them verified with a VBA and a VCC, then taking the money from the sales and transfer it to one of my other Paypals that already has a real bank linked to it and withdraw from there.

it seems like it would link them. I just want to be safe. Has anyone done this and got away with it, is anyone currently doing this?

Thanks in advance!
Please don't do that.
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Old 01-12-2016
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Default Re: Sending money from stealth PP to stealth PP

It is death to accounts
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Old 01-12-2016
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Default Re: Sending money from stealth PP to stealth PP

Most all banks have free checking accounts. Look for SMALL local banks and credit unions.
Open up a check and savings at each you open and then add an account when needed.
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Old 01-12-2016
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Default Re: Sending money from stealth PP to stealth PP

Quote:
Originally Posted by yankee View Post
Most all banks have free checking accounts. Look for SMALL local banks and credit unions.
Open up a check and savings at each you open and then add an account when needed.
I use a credit union, I just got done opening up 6
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Old 01-12-2016
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Default Re: Sending money from stealth PP to stealth PP

DO NOT make the mistake of having a bunch of accounts open at a single institution. That's what I did with Bank of America and now that they've closed my accounts I'm having a really hard time attaching new bank accounts. I just went out today and opened free checking/savings accounts with 3 different local credit unions, so I can avoid the situation I am in now in the future.

The banks aren't stupid. Having 6 accounts at a single bank is asking for trouble. Once you start moving a decent amount of money and have deposits coming in from 6 different names, there is good chance the bank will close you account at some point. Prepare yourself now for that possibility. Before this week I thought my bank accounts were the last thing I needed to worry about. I thought as long as my eBay's and paypals are in good standing I would be able to use BoA forever to cash out. That was not the case.

How you handle your business is your business. But you should try to avoid having all your eggs in one basket, even when it comes to banking. Banks close account just like Paypal. TRUST ME!!
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Old 01-12-2016
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Default Re: Sending money from stealth PP to stealth PP

What you should do now, is stop making bank accounts. Have a rest for a while.

It is OK to have more than one bank account. But it is essential you use them wisely. Heaps of funds coming into personal savings accounts are not good.

Transferring paypal to paypal comes under the category of not wise. paypal pick up patterns very quickly and react to the activity in a less than friendly way for you. The accounts might face limitation .

Try to vary the activities with your paypal(s). Normal accounts get run like that.

Be careful and Good Luck with your stealth accounts.
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Default Re: Sending money from stealth PP to stealth PP

Thanks guys for your insight! It means a lot! I want to run enough stealth accounts to make about $6000 in sales each month. I want to be able to remain stealth and keep accounts. Right now I have 8 accounts live, but I want to play it safe since they are on the new side. I am right now listing -> selling -> waiting 7-21 days for payment to go through -> transfer to bank, then start again. Just to be on the safe side and not lose any product or sky rocket sales on accounts. my goal is to have 13 accounts running and keep them at a steady rate, and if I lose one, just make another and go from there since they are lower limit accounts, losing one will not hurt too much as oppose to having 6 selling 1K each a month and losing one would hurt.
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Default Re: Sending money from stealth PP to stealth PP

It hurts to ever lose an account.

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Default Re: Sending money from stealth PP to stealth PP

Quote:
Originally Posted by GreenBean View Post
It hurts to ever lose an account.

thanks bean, love your emotes haha!
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Old 01-12-2016
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Default Re: Sending money from stealth PP to stealth PP

You need to spread out the bank account creation - and also look at other banks - don't do this all in one shot
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