Forum

Bank Issues for Unemployed person
 

Hi, i been using 4 stealth accounts for over a year , 2 with natwest and 1 with RBS , they been running great and followed the IP , cookies , linkage etc with eBay / PayPal

i aint been using all at same time maybe 2 at same time, over the year, i just was using the bank accounts to get funds from PayPal. i did pay for some stuff from online but most it was was getting funds from PayPal . i also did move money over from the natwest to my halifax account which is for bills etc, which may not been a good move

i got a letter today from natwest saying my accounts will close after 60 days after they reviewed it , must have been the funds coming in from PayPal and then transferring to other bank i did £1000 a few times over 2 months

so now gonna have to open another 2 bank accounts with some else to add on to the 2 PayPal accounts , that's just simple as adding into PayPal easy ? as the PayPal and eBay are in good order , just when i learned about how eBay and PayPal stealth work now figure out how to use banks lol

i do have another stealth account with bank satander and that's what im moved over to now, but i wont be moving money to other accounts, just will probably go to ATM and take out , but if i constantly getting money into PayPal due to sales , i don't want to keep alot in there, just enough to cover returns, and then don't want to transfer to bank account very day or so ? any tips on this ?

with some people having many stealth accounts so then having current bank accounts with them , how do you run them ? just funding bank from PayPal ? don't want to make the same mistakes again


Thanks for your help

I run a few bank accounts with ebay and AZ so there one Bank account to one EB/PP and one AZ account.

I run them like I would any other bank account. Your problem I think it that you did withdraw too much in too little time from one account to another, banks see this as potentially money laundering and why Natwest shut you down. It could be for something else like name mismatch not sure, the letter they sent you should state the reason why in their review.

ATM and general debit card usage is good and the key here. Your right to keep some money in there for returns etc what about materials and supplies?

I actually use each bank account for each eb/pp and AZ materials/goods and supplies I sell. It gives a more normal day to day look and feel on it. I just withdraw money from each account every now and again that I need for day to day spending (ATM).

Another Bank account I use purely for my own personal household bills and DD's etc. If you start trying to filter money constantly from banks to one account then your going to get flagged. Try to think how a normal bank account would run like your personal account. Spread the responsibility of each one so one for personal another for household expenditure another for business supplies, that kinda thing.

My biggest and best set-up AZ and EB account is linked with a business bank account so it looks better with the majority of PP withdraws going to it. Not to say I dont have a personal ones doing just the same but the amounts are no where as big or as many so again it helps it look more legit.

Hi, thanks for your detailed reply, the natwest letter says we cant provide any further information , i think it must have been the transferring the money to my halifax account the reason for this then they did a review and seen the PayPal mismatch funding source as different maybe ?? , but now i know it must have been triggered me transferring the money to another bank

my original eBay - PayPal account is with Halifax and that was restricted can only buy from eBay and make PayPal payments, can also receive PayPal payments just cant use eBay

this is when i learned about stealth , as the 4 stealth accounts i got are all stealth addressed and i still use the same supplier for goods , so this is what i did i sold on stealth account, transferred into natwest bank then from there moved it into Halifax , then paid supplier by PayPal , i could have just taken out from ATM and went into halifax is put in cash

also as i need to open 2 new bank accounts to add to the Stealth PayPal , is it easy enough just to add, also the vcc that came with PayPal is expired will that effect me adding another bank ?

Thanks

Very easy to add - if the vcc is expired/expiring, simply add in a new one with enough funds. I have done this on my PP accounts for US and CA - UK ones dont have expired cards but dont foresee a problem when they are up for expiration

UK Bank issues for unemployed person
 

Hi, i have been using 2 stealth accounts with Natwest for a year and all been fine, Natwest decided to close my accounts in 60 days, i think as i was moving large amount to my other bank accounts :nono:

the eBay accounts are fine, so will need to add other bank accounts so need to make bank accounts to add, i was in part time work and started the ebay as side thing and was better then working part time so stopped the part time , now as i need to open some new bank accounts when filling online for them what shall i put as employment statues ?

Thanks

Self Employed. Bare in mine you now also need to fill in tax returns

recently got an acc with co-op and used unemplyedas work status

go for the cashminder account

the santader 123 acc should also be ok... mind you with that one i put emplyed as i was at the time LOL

Hi, did you do current account or cashminder ? cashminder requests to call for a application form

UK do have expired cards.

Messages get sent out.

Dont quite sure why you have made this statement.

Lack of knowledge or typo?

Better to learn the UK ways if you are going to advise on them.

:nono:

Hi, i have 2 stealth accounts with VCC expiring, and now need to add another bank account as natwest closing the ones i have attached, so easy as just adding bank account in ? or need to get a VCC as well ?

Thanks

Easy as adding the new bank accounts in BUT leave the two closed accounts on file for the time being.

Usually paypal will not let a bank account be removed if there are transactions pending.

That means you must be careful when you go to do your transfers.

Buy a VCC off the forum and attach it.

Should be ready to go.
:typing:

What I strongly suggest is you get a copy of your credit file.

YOU need to be on top of what the bank(s) are doing.

If it comes down to the crunch, they should advise you ( to a degree) about the reasons for closure.

Have you spoken to anyone or just taken their word?

These are matters you must deal with correctly at all times.

I would suggest you be careful about what type of accounts you open as well.
Do not rush off getting new accounts without being careful.
:peace:

Where does the unemployed part come in?

UK bank applications ask your status job wise

Some banks will not offer accounts with overdraft facilities etc.

:spy:

Interesting. Can you just lie?

Muah.

I could describe UK banking as an old boys' network.

Whilst there are supposed privacy laws in place, info can be exchanged within the banking circle.

I am sure you get my drift.

:spy:

They were closed because you said you were moving money to another bank and just draining the account.

Why not open 3 bank accounts with the same bank and the two that receive money are your operating accounts and the one account is your account , instead of sending all the money to another bank keep it with the same bank just in another account.

Banks like when you have money in their bank and not just using them to get deposits and sending to another bank so they can use your money and the bank doing all the work accepting Paypal funds is left empty.

When you have 3 accounts with the same bank it's easy to transfer funds in seconds to other accounts within the same bank.

Now I know this is with US banks but I know all banks in any country want ur money .

I was speaking of MY UK accounts.

I wrote: I have done this on my PP accounts for US and CA - UK ones dont have expired cards but dont foresee a problem when they are up for expiration

MY UK accounts - thought it seemed clear since I do have UK accounts and you know this. MY UK accounts are relatively new so the cards on them are good for time - when they expire, I will put in new replacement cards.

The users who sent panic messages did not KNOW that.

You expressed yourself poorly and assumed others could follow.

Now you have resolved your error and removed the confusion.

Maybe a little less speed with the enter button could help next time.

For the sake of two letters, my my.

:nono: