Forum

Avoiding new bank account
 

Is there a way round having to open a new bank account each time for registration?

Is there a particular type of card like Cashplus/ Bread entropay and the others that will allow you to verify the address and transfer your Paypal balance to your card, then onto your bank?

Does Paypal allow this and am I going to be charged a %fee of the balance each time?

There are cards out there that come with routing numbers, etc., so that you can add them to PayPal and withdraw funds to them, just like a bank account. Essentially, they really are a bank account, so there are some benefits and drawbacks to either method.

As I understand it, you have a bit more options in the UK than we do here in the US, so hopefully someone from there can provide you some more specific info for your situation.

Thanks for the info, but you've sent me in the right direction:

Edit..Firefox didn't trust the secure connection so link removed.

What cards are available ?

US users can have a type of verification only bank details they can buy online, doesnt apply to UK paypal as far as I know, different format..

We would need a card with an individual account number and sort code.

There doesn't appear to be any cards in my search so far, apart from the Paypal Visa card which I won't be rushing to sign up to anytime soon.

Although I have gained an extra bank account without realising it!

If you have a Santander business account it's easy to attach a Business reserve account. They are generally used to put your tax money into and you get a decent interest rate on the account. Both types of account are free.

Although it doesn't have a direct debit facilty, they give you a basic cash card. To get your money, you can either withdraw using the cash card or an instant transfer to another Santander account.

The good thing is that you can transfer your Paypal balance into this account but Paypal can't take money back out of it if they wish do do the dirty on you.

I've yet to try this new account with Paypal, but Santander have just confirmed that they can accept Paypal transfers with no charge.