Verifying Numerous Stealth Accounts - How??

[FlashingBlade]

Just wondering how people do this as surely people don't open a new bank account for each account? Some people on here say they're running 5, 10 or 20+ stealth accounts.

I know you can remove the bank account from the paypal account once its been verified but if you then use that bank account to verify a new account in a different name wont it be linked?

In the UK opening a new bank account shows on your credit search history and I dont want to open more accounts than I necessarily have to. This applies even to free accounts as I recently opened an account with Santander (free) and it does show.

[JamesNorth101]

Some people on the forum really do have 20/30 bank accounts in the UK.

Best way to run a UK PP account is to have a bank account attached to it so ideally you want 1 bank account for each PP account you have.

[FlashingBlade]

But that must seriously damage their credit rating? I use CreditExpert to keep a track of my rating and having numerous open accounts and even searches of your credit file damages your score.

[JamesNorth101]

So long as you open the correct sort of accounts over a decent length of time it will have little impact on your credit report.

[FlashingBlade]

What are the correct sort of accounts? Do you mean just regular current accounts?

[Kiroshi]

Originally Posted by FlashingBlade

But that must seriously damage their credit rating? I use CreditExpert to keep a track of my rating and having numerous open accounts and even searches of your credit file damages your score.

It will not damage your credit rating.

When you open a bank account a credit search will be made. This is to see if the bank deem you as an acceptable risk. If that is ok the account is opened without issue. That search will remain on your file for your own data protection and future search history.

The only time it become an issue with negatively affecting credit is if as JamesNorth has pointed out if you were to open multiple accounts with multiple banks in a short period. Questions will be raised as to why you are going from pillar to post. It's just the same for applying for a load of loans at the same time etc.

Hope that helps to reassure you.

[FlashingBlade]

Well, yes and no. When you run your credit report it logs the amount of accounts you have open and the number of searches made. Obviously if you do them gradually the searches issue is diminished but you would still have a considerable number of open accounts which they do consider a risk. The more credit accounts you have open, the greater the perceived risk according to them. Even if you have no overdraft attached to the account which I must admit I find odd.

Also, with the demise of the free bank account, you often have to a minimum amount deposited each month in order to avoid the monthly fee. Do people just transfer £500 around each account each month to avoid this?

[Callidus]

Originally Posted by JamesNorth101

So long as you open the correct sort of accounts over a decent length of time it will have little impact on your credit report.

Basic accounts that only require a basic ID check are the ones you want to be looking at. It's more than possible to have that many banks spread out, a few at each and a few different types of banks is what you want

[FlashingBlade]

Can you have more than one basic account at each bank with valid info, I didn't think that was possible?

[RetroRedneck]

It's also a minefield if you've defaulted on CC and bank loans in the past.

Assuming the debt hasn't been written off (statute barred after 7-yrs in England/Wales, I think), then watch where you place your money as the bank is entitled to take it all without any notification.

[FlashingBlade]

I have nothing like that to worry about (no ccj/defaults/bankrupts etc). Just try to maintain a decent score for when I need it.

I want to get about half a dozen or so fully usable seller accounts running so six accounts shouldnt be too much of a problem I suppose.

I just didnt know if there was any other way of validating whilst minimising the accounts used, like removing the account after validation and then using it on a different account.

[Callidus]

Originally Posted by FlashingBlade

I just didnt know if there was any other way of validating whilst minimising the accounts used, like removing the account after validation and then using it on a different account.

That's called LINKING, something that you do not want to happen as you will lose ALL your accounts. Read the stealth guide if you haven't already, all the steps are outlined already.

Good luck

[FlashingBlade]

Yeah, I thought it would link.

[ButterflyNYC]

If you bank is doing a soft credit inquiry just to open an account, it may be recorded in your credit report, depending on which credit bureau they choose; however, soft credit inquiries will not affect your score. Soft credit pulls are normally done by banks, employers and when you check your own credit report.

[Bunneh]

Originally Posted by FlashingBlade

I have nothing like that to worry about (no ccj/defaults/bankrupts etc). Just try to maintain a decent score for when I need it.

I want to get about half a dozen or so fully usable seller accounts running so six accounts shouldnt be too much of a problem I suppose.

I just didnt know if there was any other way of validating whilst minimising the accounts used, like removing the account after validation and then using it on a different account.

Even if you removed the bank account from a PayPal account you wouldn't be able to use this bank account on another PayPal account. PayPal block you from doing this.

It is still registered with the PayPal account even after it has been removed.

[tim1982]

I'm in the UK and here's the way I did it.

get an account with halifax (set up internet banking) - here's one account. Then when everything is set up with the main account and internet banking log in to internet banking and create savings accounts and add the savings accounts to paypal. Never failed me yet. Oh and for a credit card, go to entropay.com and you can get a virtual credit card. sorted

[jai]

always use savings accounts if possible

[PeHe oT PecToPaHTa]

My opinion is: no one require you to open a PP acc directly and only from pp.co.uk's website, right? If you plan to withdraw the cash from the PP balance only to the bank acc, then yeah - surely you need an UK bank acc.

But if you plan to withdraw the funds only to the added & verified debit/credit/virtual card, then definitely you do NOT need to open a "PP acc" from a PP-country-site that require to have a bank acc in order to be verified.

Giving you few tips: (WARNING PAYPAL LINKS)

- Here is a list of all PP-country-sites;
- Using that site you can see which countries do NOT have the logo, as well as do NOT have the sentence "Withdraw: To your local bank account." If they have either the logo or that sentence, this means that opening a PP account from this PP-country-site will require you to create & open a bank acc from the same country that you've chosen. For example UK/US/DE/FR/ES/IT/PL/etc. - surely require you must add and confirm your UK/US/DE/FR/ES/IT/PL bank accs, yeah. But there're various other countries (even in EU) where to be with status "Verified" you ONLY need your card to be verified with the PP expuse code, and that's it! No bank verification/confirmation. And therefore you withdraw the funds ONLY to the card.

So no more worries regarding the bank credit rating or whatsoever. After verification of the card, the daily withdrawal limit is €500 (£400/$650) with €2 fee per transaction. When you get $10k in that account ("received money" for goods, payments, from friends, etc.) and the acc is older than 90 days, you can write to PP to remove your daily limit. So there won't be any daily limit and not only 1 transaction. So for example you can do 5 x €500 at once in 24 hours only. The maximum per transaction is even increased from €0,5k to €1,2k (or £1k), so 5 x £1k with a total fees of £7.5 is pretty nice (but waiting from 3 to 5 business days, NOT instantly in 2-24 hours).

Think "out-of-the-box".

[FlashingBlade]

Great tips, thanks. Isnt there a problem with say, having a UK eb account but a albanian pp?

[PeHe oT PecToPaHTa]

WARNING EBAY LINKS

Haven't tested with UKish. Tested only with:

"X" PP acc (where there is no bank acc requirement), then opening from US eB (or UK eB, or DE eB, have few accs, separate PPs ofc) and choosing as "country" - the "X" country as well (because having a phone + SIM number from the "X" country as well, otherwise the eB system doesn't sends the PIN code or the call if I change the country right away), then verifying the phone number with eB (when making a listing or before that, for example DE eB asks exactly after finishing the account creation, lol), then changing the country from "X" to "Y", "Z" or some other one (doesn't need to be exactly US or UK), no change of the street address or other details, only the country. And continue selling, so far good.

So for your situation - opening an Albanian PP and then from eB.co.uk a British acc with GB address/city/phone don't think that will raise some problem, but as I said - haven't tested, can't say. As far as I'm reading - for selling they don't require only and exactly a bank acc, may add the same PP card that you've used for the PP verification.

(btw, don't open Albanian PP, because on the withdraw is saying "To your Visa card issued in Albania." - you know PP detect BIN numbers and that's how they know where exactly cards were issued, if you can't issue yourself an Albanian VCC, don't use that country; only other ones that are saying "To your credit, debit, or prepaid card." for example, which means region-free cards)

[Pandoras_box]

1. Opening multiple current accounts and keeping them active or dormant even if spaned over ten years will damage or limit your credit rating.
Everytime you apply for a current account, there's an application history appended to your file for 1 year or less. If you're successful, there's a recurrent update to your credit file. Lenders don't like too many open credit lines.

2. Opening mltiple basic accounts (no credit / overdraft faciltiy) even if done within hours does no harm to your credit.
It leaves a "soft footprint" but this is not visible to lenders. These searches are for identity and money laundry checks.

I have spoken severally to banks and credit agncies and that is their position. Besides this is also reflected on my credit file: My basic accounts do not improve or diminish my ratings even when I miss payments because they're not reported to credit agencies except in rare cases of identity / Money laundering checks; again these will never be availble to any lender.

This is applicable to UK. I have no clue if this is the same abroad.

[rsot]

Originally Posted by FlashingBlade

Great tips, thanks. Isnt there a problem with say, having a UK eb account but a albanian pp?

You create an Albanian pp...and an Albanian pp.

You log ONTO uk ebay with your albanian username and create listing