Help Needed from UK Sellers.

[Smus]

Been browsing through this forum for a good few days pulling up the answers to things I need.

I understand all the basics and a little more having been involved with E bay some time;

Dynamic IP
Record all IP`s
New user account
Use of VCC and so on.

Have no problems at the moment setting up multiple accounts.

However I would like some input from experienced sellers on which bank accounts to use, Mainly with regards to savers.

Opening multiple current accounts is no issue but I have found a few old threads stating some savers can be used as they will allow you to transfer money from your paypal account into them.

Savers seem easier as multiple can be opened from my current account overnight,

I understand most of them do not allow paypal to then withdraw money from them, but I should never have a need for this so seems like a win win situation.


Cheers

[Karakolio]

Originally Posted by Smus

Savers seem easier as multiple can be opened from my current account overnight,

Be careful with this, you could end up with 0 bank accounts if you act suspicious.

[Smus]

Originally Posted by Karakolio

Be careful with this, you could end up with 0 bank accounts if you act suspicious.

Yeah I am aware to take it slow and have no plans to open up too many overnight.

But compared to opening a bunch of current accounts, opening one then opening one - two savers directly from this account seems like a good idea as they appear much easier to open.

Just need to know which ones are working as of now.

Cheers bud

[stevebills]

Try Tesco saver seems ok and I got one in my GF name so I have 2

[GreenBean]

Savers are risky.

Look at getting basic accounts rather than those.

[Smus]

Thanks Both,

I understand there are some risks, but if someone could clarify for me what they are it would be appreciated.

I thought as long as the Saver accepts mismatched deposits and allows the DD deposit from paypal so you can confirm the code then all is golden.

Providing you are able to stop paypal from trying to withdraw money for any reason at a later date.

I will check out Tesco savers.
Again,

Cheers all

[Ebayorbust]

I thought as long as the Saver accepts mismatched deposits and allows the DD deposit from paypal so you can confirm the code then all is golden.

I am not aware of any savers that allow a dd mandate. I think the lack of dd mandate is partly what categorises them as savers in the first place.

In days gone by, savers used to be removed by Paypal when the dd mandate was rejected by the bank. Now, worst case scenario usually is that you get an email telling you the bank can't be used as a funding source.

As above, be very careful with how many banks you open and how quickly. Opening large quantities of bank accounts in a short period of time can draw the bank's attention to your activities. If they don't like what they see (mismatching names etc) they can place CIFAS markers on your credit report which will pretty much limit your ability to do anything financial related for a very long time.

[GreenBean]

Originally Posted by Smus

I thought as long as the Saver accepts mismatched deposits and allows the DD deposit from paypal so you can confirm the code then all is golden.



Cheers all

Huh? where did this gem come from? Savers and the DD mandate are not an item. If they were, we would not be as concerned about their usuage.

[Smus]

Thanks for the replies all.

I had read from somewhere on the forum that certain savers did seem to work, of course it could well be I am mistaken as I have not verified this yet.

I had also heard rumours that in some cases when your saver is declined " cannot be used as a funding source" they will then inform you they will use your debit/credit card on file as a funding source until a new bank as added.

Anyhow thanks for all your responses, no doubt what I have heard could be incorrect, just wanted some clarification.

I may try the Tesco saver as suggested and let you all know how I get on.

Does anybody have any idea what you would define as opening " a large quantity of banks in a short period of time."

Im in no rush and understand these things take time as have read it constantly on the forum.

I am curious if one per fortnight would be acceptable up to the first five or so.

Any ideas would be appreciated.

Cheers

[GreenBean]

No, that is too much too soon.

About now, you need to start thinking outside the box.

Find what banks you want to use. Find what they offer as regards accounts.

Find the answer to opening accounts if you are on the ball.

[Smus]

Thanks GB.

I will study through some more posts and hope I can find or use enough common sense to find the answers I am looking for.



I still have to dig around to find a little bit more information on addresses anyhow as more options would seem beneficial.

Thanks again all for your posts

[stevebills]

the risk with savers is that they don't work with paypal ,,,but Tesco saver has worked for me no problem sending money from paypal to it okay