Using UK savings accounts for paypal good or bad idea

Christianm · #23 12-21-2010

now they are being kicked can confirm my tesco was ,4 still on but im sure they will go soon , still they are verified but no withdrawal!!!

missinglink · #24 12-22-2010

so you are saying that you cannot add tesco egg anymore?

which savers are still ok??? to add

Stigger · #25 12-22-2010

Quote:

Originally Posted by missinglink

so you are saying that you cannot add tesco egg anymore?

which savers are still ok??? to add

most work in a round about way, what usually happens is that you add a savings account add the small deposits to PP as soon as they hit the bank (same day), your PP account gets verified but the savings account gets removed the next day from PP so that leaves you verified but with no bank account added, here you can ring PP and ask them to place the account back on file or you can add another saving account and it will be o.k, Your pp account will still be verified but the bank account will be unconfirmed.

Another thing you can do is look for ISA'S (Individual Savings Account) that accept DD, i have used a Lloyd's one and it worked straight away, if you have a current or saving account with a bank you can usually open ISA'S by yourself online

i will be trying one from another bank soon so will post if it worked or not .

sax4 · #26 12-22-2010

I have a Nationwide Cashbuilder account that I have had for about 10 years and not used, anyone know if these work?

Has · #27 12-23-2010

I received 2 paypal deposits into my Natwest Saving account and the natwest saving account doesn't accept direct debits :S

Ahh well i aint complaining lol

sax4 · #28 12-23-2010

Will give it a whirl then

sax4 · #29 12-23-2010

I just went down to Abbey/Santander, I already have a basic account and wanted another, they said I can't have another, unless they upgraded my basic account to a full 'adult' account as the guy put it lol

But what I could do is open a savings account which doesn't have a direct debit facility, but does have a standing order facility.

I can't remember the difference between standing order and direct debit, but from what i've read i'm hoping that it WILL take direct debit.

Only one way to find out.

sax4 · #30 12-23-2010

Ok I just tried to setup my Nationwide Cashbuilder account with a new Paypal Business account, account type selected 'Current'

It does not work, for the benefit of others who have this account.

"Unfortunately, this bank account cannot be used for Direct Debit by PayPal because it does not presently accept electronic transmission of the instruction required to set up the Direct Debit."

Has · #31 12-23-2010

I still dont get it
how did mine work though? lol

I asked the lady in natwest if the saving account accepted direct debit and she said No so..... :S lol

cmman · #32 12-24-2010

yeah i can confirm that nationwide savings accounts dont even work if the last name is different to your own!

santander and natwest work but as you guys said they get kicked back almost imediatly? Annoying. got loads of money in my paypal accounts and cant withdraw them now?

Can anyone confirm a bank that does work with savings accounts? or whats the options?

sax4 · #33 12-24-2010

Santander basic account works, but haven't tried savings

cmman · #34 12-24-2010

sasasasa hi mate, when you say basic accounts what do you mean? i just logged into my santander internet banking. what account do i apply for?

sax4 · #35 12-24-2010

Quote:

Originally Posted by cmman

sasasasa hi mate, when you say basic accounts what do you mean? i just logged into my santander internet banking. what account do i apply for?

It's literally called 'basic account' on my card, it has the features of a current account ie direct debit, internet banking,phonebanking etc. But when you apply it doesn't go on your credit rating, and it doesn't have a debit card.

If you already have a santander current account, then you just just phone them and ask them for another account, say you want to use it for bills or something, there won't be a credit check.

When I applied for my Santander account in branch, they asked 'do you have any other bank accounts' i said 'yes' they then said 'oh well this account is only for people who don't have a bank account presently', so i said 'when I said yes, i didnt mean in this country'

. So got away with it

kirkie · #36 01-09-2011

ISA are a good idea and can be opened insantly online, the only prob is that you can only have 5k go in, anymore and you have to pay tax, you will need your NI number to open the accounts, i done 3 last night and added them to paypal. Will let you know if they all work etc.

andyf777 · #37 01-09-2011

ISAs dont work mate. I've tried Natwest cash isa, RBS and Santander! I can also confirm that Tesco and post office savings accounts do NOT work. They all accept the micro deposits, but none of them support direct debits, so when the mocro deposites are made, they are kicked by the same day. Paypal send an email saying it is not supported and it has been removed from the pp account!

sax4 · #38 01-09-2011

Opened up a Barclays basic account a few days ago, surprised I got a debit card with it,I think they are giving debit cards automatically with basic accounts now. I had a non debit Nationwide account which they upgraded to debit.

I felt like a criminal when I went in the branch, I told them I didn't have an account in the UK which shocked them, then I said I spend half my time overseas, they got suspicious and started asking me all sorts of other questions. I'm sure they've got me on the money laundering watchlist now!

Stigger · #39 01-09-2011

Quote:

Originally Posted by andyf777

ISAs dont work mate. I've tried Natwest cash isa, RBS and Santander! I can also confirm that Tesco and post office savings accounts do NOT work. They all accept the micro deposits, but none of them support direct debits, so when the mocro deposites are made, they are kicked by the same day. Paypal send an email saying it is not supported and it has been removed from the pp account!

ISA'S do work im using two now, i have a lloyds and halifax and both are working fine.

GreenBean · #40 01-09-2011

IF I find the user you started this stupid idea of using savings accounts for the purposes of paypal verification, I might go postal on them.

These days it is hard enough to get paypal up and running & correctly verified. WTF are ya'll thinking of mucking around with saving accounts?

Having undue attention to a paypal account so early in its life is irresponsbile. UK is lucky that there are enough banks offering DD services for what we as stealth paypal account holders want to do. So it means you need to do some homework. THEN do it

oompaloompa · #41 01-10-2011

Ive tested a few, I dont know of a single savings account that works for dd mandate that Ive tried, and Ive tried a few on here that people have claimed worked, some verify the account so it allows you to sell, if it is in an accessible address it is useful to buy stock with etc...some of them just cannot be added as error message comes up. I dont think they brought scrutiny to my accounts though, I added them to paypal before even making an ebay, so I had option to abandon or continue with them, I think that is best method.....

Maybe ISAs work, havent tried that yet, actually Im a bit bored with it.....

If anybody does know of a saver that works with dd, post it in exec or subs section (and I will give you a sweetie)