Forum

Multiple Bank Accounts & Paypal queries
 

Asking lots of questions. hehe . (btw i have read the book and the forums).

Ok, one can open multiple bank accounts and verify paypal with them. Paypal doesnt check name or adress etc. But what if in the future paypal is able to check those details for whatever reason (like change of a regulation or as with the case with ING which was sharing info with pp), will this affect the credit rating of the "user"? Will there be any other implications apart from closure of pp accounts.

PS - obv this doesnt affect our credit rating at the present.

Banks sharing info with PP and PP hitting your credit rating are two seperate and unrelated issues.

If banks start routinely sharing info with PP then we would have to come up with more imaginative solutions. It could be that virtual bank accounts become available in the UK, such as the US have.

A real threat is PP checking identities using the Credit Reference Agencies, such as banks/credit card companies/insurance companies do. This would complicate matters no end and is already happening in some countries.

CaptainJack

sounds scary indeed.

All this wouldnt matter in the first place if paypal wouldnt be so trigger happy closing accounts. Insurance companies, etc are one thing, pp is another. There is no alternative to paypal/ebay monopoly.

Im pretty new, well not new to ebay, but with the whole stealth system. I wonder how many of us stealth eBayers there are out there. On a Stealth account if you close the bank account thats linked to your paypal account would that disable your paypal account for receiving payments? Just wondering....That way if that ever happens, the account wont exist anymore and they cant do anything to you.

No, it will prevent you from being able to withdraw the money.