Forum

Banks, using them & stealth.
 

http://www.aspkin.com/forums/credit-...problem-s.html



I find it all contradictory now. One minute people say "oh open accounts all over the place its easy for stealth" then the next " AS ABOVE".
I feel that in reallity that you CANNOT keep opening bank accounts all over the place,It just doesnt work.In the uk it certainly doesnt.
So its becoming confusing as to where the point comes that you say ok i can no longer continue with e bay/pa yp al at all?You can not go on forever even with **** Info(because your bank account needs to be real) the line will be drawn by the CREDIT CHECKING!!!!!!

You can make 3 bank accounts last a pretty long time, when 1 ebay get's suspended you close the bank attached and open a new one with the same bank. Also if you have 3 accounts with 10 banks, that's 30 accounts which is way more than enough for me, I personally only have 5 accounts at 2 banks at the moment which is plenty.

This said there will become a time when all this activity will be flagged with the credit agencies etc and banks will stop you having accounts due to a poss fra ud risk surely

That all depends on how long your accounts last, if they last months to years there shouldn't be a problem, if they last days to weeks that might raise an eye or 2, maybe.

Slight exaggeration.:doh:

Users are told to be selective in how they create bank accounts. Certainly there are many banks available but that differs from your comment.

Does not matter which country at all, bank accounts must be made with real ID and in a manner to conform to correct practices.

Beacuse ONE user made an error of judgment do not be assuming it is a common practice.

99% of problems in the stealth world are USER error and misunderstanding.:juggle:

I as every 1 knows, GB accounts need to be real. What i was saying is that you can't go on forever opening accounts all over the place.Flags will be raised no doubt.
With PP keep limiting all the time surely a time must come when enough is enough?
i may be naive but how the hell do some do real good business on eb/pp without any problem?
I have spoken to a few people i know in business selling higher end goods and they say never have they had 1 problem from either?
Makes me wonder what is going on

If your paypals getting limited all the time then you might want to rethink your game plan, I still have the same paypal with same bank for over a year now, never needed to open and close banks all the time. I could easily make 3 accounts at 1 bank last years.

This is true....I have 3 in one bank,but 2 linked to duff pp now.
I cant really see(unless you got a good business account)how you can stop being limited(say 1,2,3 times a year or more?)
i mean what can you sell that throws no flags up?
JB in Uk banks are very tight nowadays with our money troubles,so bar needs to be raised i think

My most active paypal is well over a year old and never once been limited, I don't even have an active number attached to it.

As for things to sell just look at any top rated seller account, there's many legit items to sell all over the place.

But what if you talk to your banker? I spoke with mine at BOA and told her I do alot of business on the internet and need seperate banks for different sites that I'm on and she that's fine I can have as many as I want even though I only opened 2 at the time since I don't need that many.

Good points by all.

That is 1000% Correct,,There is NO NEED to be Sneakey about it a Banker will help you Out with as Many accounts as you Need NO PROBLEM,,go ahead and talk to one you will see

.
Ok take that point.
But how many small businesses/people have tens of bank accounts all over the shop???
Cant really see the likes of even major companies having loads of different accounts in the same country.
Fraud is the issue here

No - fraud isn't the issue. How you set your accounts up and run them is the issue.

Bank accounts are readily available to legitimate businesses and they all work fine with PP and EB.

The problem is that everyone wants accounts on the cheap or to sell things that are risky. It can cost a lot of money to set up a 'proper' account and it becomes uneconomical if you are trading in vero or foo-foo.

Bank accounts are not the problem - trading style is. Banks are falling over themselves to open accounts - all you need to do is talk to them and at least sound as if you know what you are doing.

For what it's worth I haven't met a bank yet that likes Paypal

Sorry but that is In accurate,,I have a Legit company with with 1 MAIN Account and MANY "Sub Accounts" within the Main account, For the Express Purpose of Having SEPERATE Accounts for EACH Online Sellers account,,, ALL at the SAME Chase Branch opened with the SAME Chase Representative ALL with Her Complete Knowledge and Consent.,,

I have Opened and Closed MANY accounts over the Years NEVER a PROBLEM,,,and believe me ALL Corporations have Various accounts for various reasons from "Petty Cash" accounts to End of Year Bonus to Retirement accounts,, They all operate the SAME Way from IBM to FORD Motor Company to Jacks Cleaners

grrr, exaggeration again.

People and businesses tend to have more than one bank account. Bank loyalty started to die out when aforementioned banks started to force fees on their customers & lowered their standards of service..

Where's the fraud issue there? Only in your interpretations.

John Lewis, Tesco, ASDA, all have more than one bank account within their structure. It's an accounting practice to have monies spread in different areas/banks. Where's the fraud issue?:pop2:

The problem is when a user races into doing business with not so much as a thought or plan.
The issue is ignorance. :peace:

fraud?how?

opening bank accounts with your real documents its not a crime/fraud in UK and dont think it is anywhere in the world.

Who said anything about not opening them with real ID.
We all know you have to open an account with real ID.
My point is "surely eyebrows would raise" if you were to open lots of accounts with the same or different banks.
Come on if someone did that with me/you then you would ask questions.
Selling foo foo or whatever you call it has no issue here.
The issue is the amount of accounts will raise the commonwealth flag.
Then again what do i know.
My best mate is a bank manager and i have quizzed her on it.

Credit agencies are there for a reason.

Our farm business has 6 accounts - fully legit and valid. I cannot see what your problem is. If a little farm like ours can have 6 or more legit accounts what are you getting at?

If you don't want to raise flags get all your little ducks in a row before firing your guns.

Very straightforward IMO