Do I really need a bank account?

[VDR]

Hello, first time poster

I have read the Stealth Book, been reading the forums, even got a tracfone and vanilla visa and got those working, IP is no problem.

But in reading the forums it seems most folks are high volume sellers, I am just wanting to sell 20 or so records a month and I use the money made to buy more records off ebay so I never transfer to my bank account, so the question is if I create 2 stealh's and sell 10/month on them should I be okay with just the vanilla visa?

Thanks

VDR

[Twocoolt]

Personally, I have never used Vanilla Visa to withdraw funds out of Paypal. I guess as long as it has a bank account number and routing number like other prepaid cards do then you may not need a bank account. If it doesn't have a bank account and routing then yes you will need a bank account, otherwise, you wont have a way to get the money out of paypal to buy more inventory.

[VDR]

I would not withdraw the funds, I would bid on ebay auctions and pay with the funds in the account

[rsot]

For just buying, you can get by ok without adding the bank account - but the bank account does help for security of the account

[VDR]

Originally Posted by rsot

For just buying, you can get by ok without adding the bank account - but the bank account does help for security of the account

WOuld a VBA suffice in that role or do I need go full blown account

[GoteBay]

Most people here do not buy from eBay, and would like to withdraw the money from PayPal. Paypal is notorious for freezing funds when the account is restricted.

What is the purpose of selling on eBay if you do not want to make some money?

[VDR]

Originally Posted by GoteBay

Most people here do not buy from eBay, and would like to withdraw the money from PayPal. Paypal is notorious for freezing funds when the account is restricted.

What is the purpose of selling on eBay if you do not want to make some money?

The point is to acquire records I can't find in record stores, I buy them, record them, flip them, buy more, keeps the hobby off the family financial radar

[MM78]

If your only buying and reselling the items....and don't plan to withdraw to bank then a VBA will be just fine.

a VBA would work for you, just make sure to at least add a VBA before purchasing anything with the paypal account. Otherwise higher chance of having funds frozen

[rsot]

Originally Posted by VDR

WOuld a VBA suffice in that role or do I need go full blown account

Yes - just make SURE you dont 1) upload funds from the bank account because it will fail and 2) dont withdraw to the bank account (for the same reason)

[Sandy D]

Adding a vba make an account appear more solid and trustworthy.

Just make sure you do not use a VBA for anything as it cannot be used for the purpose of what you want to do.