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| CaptainComedown | 01-10-2020 05:05 AM |
UK Online Banking Options
Hi folks, I go through quite a lot of accounts (I run 6 to 8 at a time and each one has a lifespan of around 3 months usually).
I have been burning through online bank accounts at a rate of knots this year and although new services appear all the time, meaning there is never really a shortage, I was wondering if any one knew of any online bank that let you create more than a few accounts?
I read somewhere here before that there was a banking provider that allowed up to 20 accounts (probably one current and 19 savings), each with their own acc and sort no. Can anyone tell me who this might be?
Also, some of my burnt accounts allow me to create a secondary Euro account that has it's own IBAN number. Is it possible to tie this account to a UK paypal or would that just cause problems?
Thanks in Advance! :hail: |
Re: UK Online Banking Options
Why such a short lifespan? Identified the issue? |
| RipeBanana | 01-10-2020 06:41 AM |
Re: UK Online Banking Options
I dont anything about online banks as I use a regular bank account but I would like to know more.
Which banks did you use for your online banking? and do you use your real name for those? |
| jake_un | 01-10-2020 06:45 AM |
Re: UK Online Banking Options
Revolut/Starling/Monzo/N26 all worked fine for me. All with my real ID.
No idea about setting up your 20+ accounts at same bank though, would be interested to know that as well. |
| JamesNorth101 | 01-10-2020 06:48 AM |
Re: UK Online Banking Options
I have always found a good ratio is 1 current account and 3/4 savings accounts. |
| JayRay | 01-10-2020 07:17 AM |
Re: UK Online Banking Options
Quote:
Originally Posted by CaptainComedown
(Post 1060624)
Hi folks, I go through quite a lot of accounts (I run 6 to 8 at a time and each one has a lifespan of around 3 months usually).
I have been burning through online bank accounts at a rate of knots this year and although new services appear all the time, meaning there is never really a shortage, I was wondering if any one knew of any online bank that let you create more than a few accounts?
I read somewhere here before that there was a banking provider that allowed up to 20 accounts (probably one current and 19 savings), each with their own acc and sort no. Can anyone tell me who this might be?
Also, some of my burnt accounts allow me to create a secondary Euro account that has it's own IBAN number. Is it possible to tie this account to a UK paypal or would that just cause problems?
Thanks in Advance! :hail:
| I believe you are talking about Uaccount. Uaccount gives 1 current account and 20 savings account with same sort code but different account number |
| CaptainComedown | 01-10-2020 09:13 AM |
Re: UK Online Banking Options
Quote:
Originally Posted by rsot
(Post 1060630)
Why such a short lifespan? Identified the issue?
| Just VERO strikes, not much can be done about it really |
| JamesNorth101 | 01-10-2020 09:13 AM |
Re: UK Online Banking Options
Quote:
Originally Posted by JayRay
(Post 1060656)
I believe you are talking about Uaccount. Uaccount gives 1 current account and 20 savings account with same sort code but different account number
| In theory you can get that many - but in reality if you try using them all you would fine Uaccount shut down the account |
| CaptainComedown | 01-10-2020 09:14 AM |
Re: UK Online Banking Options
Quote:
Originally Posted by JayRay
(Post 1060656)
I believe you are talking about Uaccount. Uaccount gives 1 current account and 20 savings account with same sort code but different account number
| I thought it was Uaccount and I opened an account with them. I have been able to create two additional savings accounts but cannot find any account numbers for them, only the main account seems to have one. Any idea where to find the Account numbers for the savings accounts? |
| CaptainComedown | 01-10-2020 09:15 AM |
Re: UK Online Banking Options
Quote:
Originally Posted by JamesNorth101
(Post 1060707)
In theory you can get that many - but in reality if you try using them all you would fine Uaccount shut down the account
| If you only used two savings accounts at a time maybe? and then create new one and close an old one as each account gets burnt? I agree having 20 accounts with money pouring into them would look fairly suspect lol |
| JamesNorth101 | 01-10-2020 09:33 AM |
Re: UK Online Banking Options
Quote:
Originally Posted by CaptainComedown
(Post 1060714)
If you only used two savings accounts at a time maybe? and then create new one and close an old one as each account gets burnt? I agree having 20 accounts with money pouring into them would look fairly suspect lol
| You can do exactly that, but spread it over say 10 different banks.
That allows you to have 30 or so open at a time. Each time a PP becomes limited close the associated bank account, wait a few months then open it again. If you run the system well you should only have to close and open an account with each bank once or twice a year. |
| Pandoras_box | 01-10-2020 06:55 PM |
Re: UK Online Banking Options
Quote:
Originally Posted by CaptainComedown
(Post 1060711)
I thought it was Uaccount and I opened an account with them. I have been able to create two additional savings accounts but cannot find any account numbers for them, only the main account seems to have one. Any idea where to find the Account numbers for the savings accounts?
| Log into your account go to --> Pay ---> Make payments --> Send payment to.
You should find your account number and sort code there.
Uaccount is a pain to deal with if they hold onto your money. I would never bank with them. I just use it to strengthen PayPal accounts. |
| JamesNorth101 | 01-10-2020 07:02 PM |
Re: UK Online Banking Options
Quote:
Originally Posted by Pandoras_box
(Post 1060830)
Uaccount is a pain to deal with if they hold onto your money.
| I have heard a lot of people saying that and its always put me off them |
| Pandoras_box | 01-10-2020 07:03 PM |
Re: UK Online Banking Options
Quote:
Originally Posted by CaptainComedown
(Post 1060624)
Hi folks, I go through quite a lot of accounts (I run 6 to 8 at a time, and each one has a lifespan of around three months usually).
| Unless you're selling cryogenically frozen babies, you should not burn accounts that fast. :bounce: Quote:
Originally Posted by CaptainComedown
(Post 1060624)
I have been burning through online bank accounts at a rate of knots this year
| Careful buddy. You don't want to get hit with money laundering charges or even be subjected to an investigation. |
| Pandoras_box | 01-10-2020 07:11 PM |
Re: UK Online Banking Options
Quote:
Originally Posted by JamesNorth101
(Post 1060831)
I have heard a lot of people saying that and its always put me off them
| Never experienced it myself but I've read ample horror stories about them and a friend deposited £50 of his own personal money and it got held for several months.
He ended up giving me his accounts and now I have 40 (almost) useless accounts to play with. Sadly I only use these to help my PayPal accounts and when the account has a good history, I add a high street bank and delete the uaccount. |
| CaptainComedown | 01-11-2020 10:12 AM |
Re: UK Online Banking Options
Quote:
Originally Posted by Pandoras_box
(Post 1060832)
Unless you're selling cryogenically frozen babies, you should not burn accounts that fast. :bounce:
Careful buddy. You don't want to get hit with money laundering charges or even be subjected to an investigation.
| I have tried to lengthen their lifespan, but the items are high risk, and I tend to get 60-80 sales per day so after a few months I usually accumulate enough VEROs to kill the account. If you can suggest any way to lengthen the lifespan of them I would be very interested to learn about it.
I don't worry about that, I have a good accountant and I declare every penny I earn and pay honest taxes (no point lying to the taxman and enticing them into sifting through your whole life with a fine tooth comb) |
| Bradd | 01-12-2020 07:16 AM |
Re: UK Online Banking Options
Quote:
Originally Posted by JamesNorth101
(Post 1060720)
You can do exactly that, but spread it over say 10 different banks.
That allows you to have 30 or so open at a time. Each time a PP becomes limited close the associated bank account, wait a few months then open it again. If you run the system well you should only have to close and open an account with each bank once or twice a year.
| Ooer! this is interesting much. So you completely close the whole bank account down with all the sub accounts ..Then apply for a new one a few months latter ..then repeat this ? |
| Cocoa2310 | 01-12-2020 07:28 AM |
Re: UK Online Banking Options
Quote:
Originally Posted by JamesNorth101
(Post 1060649)
I have always found a good ratio is 1 current account and 3/4 savings accounts.
| Interested in uk paypal and ebay account how much? And any reviews and sales history? |
| CaptainComedown | 01-13-2020 11:03 AM |
Re: UK Online Banking Options
Quote:
Originally Posted by Pandoras_box
(Post 1060830)
Log into your account go to --> Pay ---> Make payments --> Send payment to.
You should find your account number and sort code there.
Uaccount is a pain to deal with if they hold onto your money. I would never bank with them. I just use it to strengthen PayPal accounts.
| I've had a look, and when i try to send money it shows my two extra accounts but it still doesn't show me an account number for them?
Any idea where i'm going wrong? |
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