Help! Which basic bank accounts can I use with Paypal?

[johnnyleeds]

Hi folks!

I know this has been discussed before but I need to know what basic bank accounts I can apply for that will work with Paypal, preferably ones I can apply for online - if there are any! I've already got one with Halifax / LloydsTSB, Bank of Scotland, Natwest and Cooperative. I also got one with Santander that lasted 2 minutes.

See I've been waiting for a friend to apply for the Bank of Scotland one that used to be easy to apply for online, only he then got asked to go into a branch with proof of ID, so when I finally got him to come to the branch with his ID I discovered that he was trying to use one of the old paper driving licences and his was so worn out that a few days later when we were waiting for the cards / account no / sort code to arrive, instead we got a letter saying that his ID wasnt acceptable.

So now I'm back to square one, I'm going to have to get an account in my own name now as my mate is useless at getting anything done, he just likes helping me spend my money when I have got any! Does anyone know if the Post Office 'Card Account' works with Paypal? Thanks guys!

Johnny

[xxxhustlerxxx]

this thread should help you out

http://www.aspkin.com/forums/uk-payp...rk-paypal.html

[Killuminati]

What do you mean santander lasted 2 minutes?

I have been using santander for months and no problems at all

[mkr2204]

Mycashplus works fine for paypal, they accept direct debits in any name, someone on here has said securetrustbank works too but ive not tryed that yet

[xxxhustlerxxx]

secure trust bank works perfect

[jvm127]

for the mycashplus card do you just register the credit card for verfication or do you also use the mycashplus to verify your "bank account" as i believe mycashplus also comes with an account and sort code? or do you just use a separate bank account such as barclays and just use mycashplus card to verify the "credit card"?

[xxxhustlerxxx]

cash plus 'deluxe account' works like a bank account. as you get a online bank account with it and can also use direct debit. so yes it should verify paypal. but i myself have not tested yet. i opened a account this week with them but not got everything through yet. but i have read on here that it works.

[mkr2204]

cashplus 100% works for paypal in any name 4+ accounts with it, never tryed using the card,

[xxxhustlerxxx]

have they allowed you to make 4 accounts at the same time? or have you closed one, and then made another one?

[johnnyleeds]

Yippee! I'm laughing as I've managed to open several more current accounts with banks I've already got accounts with, what a bonus! I thought I'd run out of banks I could apply to but now I'm starting all over again with banks I already have accounts with. Thanks xxxhustlerxxx for pointing me to the 'Bank Accounts that work with Paypal' thread, that was very useful.

I managed to get accounts with Bank of Scotland / RBS / Natwest opened very quickly, infact I've already got the card / pin for the Bank of Scotland one already, and I already have another account with them. They added the new account to my other accounts online banking facility which is great as I can transfer money between the accounts instantly plus check my balance / paypal deposits / withdrawals etc.

I dont really see the need to use these accounts where you have to pay £12.50 per month just to have an account when there are dozens of free accounts to be had with normal high street banks. Yeah I can see if there was no alternative then its better than nothing, but I'd rather have it for free without having to worry about paying every month just to have the account. I mean we have to pay enough selling on ebay with paypal as it is without other overheads to consider.

Cheers guys!

[xxxhustlerxxx]

[QUOTE=johnnyleeds;301837]. I dont really see the need to use these accounts where you have to pay £12.50 per month just to have an account when there are dozens of free accounts to be had with normal high street banks[QUOTE]

no credit check means i can build my credit score and aim for a mortgage

[johnnyleeds]

What do you mean no credit check? Most of the high street banks have the 'basic' type accounts that you can open with a low / poor credit rating. Also how does paying an internet 'bank account' £12.50 per month enable you to get a mortgage? You might as well buy something on hire purchase for £12.50 per month or save up money with a credit union and that will 'rebuild' your credit rating in exactly the same way.

The best way to improve your credit rating is to repay any outstanding debts / make sure you are on the electoral register and ensure you dont miss any bill payments or get and county court judgements against you. Does paying an internet 'bank account' £12.50 per month really do that much to your credit score? I doubt it.

I used to work at O2 where we regularly performed credit checks on people who wanted a mobile phone contract using the Equifax system which gives a detailed analysis of each persons credit file and gave us their overall score. The important things were paying bills / credit cards regularly and on time. Any defaults stuck out like a sore thumb and ate into your credit rating.

Interestingly applying for credit, even if you are refused also lowers your credit rating by about 3 - 5 points for every credit search that is done in your name. So its alright people saying 'shop around' for the best deals on loans / mortgages etc, but everytime you apply for a loan etc - even if its just on spec, that in itself is whittling down your credit score...! Crazy eh!?

I've personally got a terrible credit rating, and not from having run up any massive debts either, its just because I rarely use credit, I've never bought anything on finance, hardly ever borrowed from banks and I dont have a mortgage. So also not using credit gives you bad credit!

[jvm127]

johnnyleeds, did they not ask you why you wanted an another account let alone a few with the bank you are with? I tried to open a new account with barclays and they wouldn't even give me apointment cause i said i had a "main account with co-op" which seems a very odd thing to me but thats what i was told. No you said about opening another account with your current bank, i might try and just get another coop account considering i have one with them. Just wondering what you said to them when you opened the extra accounts as like i said barclays were really funny with me when they knew i had another account.

Thanks again

P.S i used to live in Leeds

[xxxhustlerxxx]

each time you open a bank account with a high street bank. they do a credit check. over 4 banks is going to look very odd on your credit record. also you have a credit score, the longer you keep up with your payments and dont obtain credit the higher your score will be. i only use my credit card and a catalogue for credit (i have lots more but dont need them anymore) but you wont get a mortgage with a credit score of say 500. it will need to be at least 750 - 800. (it goes up to 999) plus you need 25% deposit for a mortgage. so it is something that you need to work hard at.

Free Credit Report, Credit Rating Check & Fraud Alerts from Experian Credit Expert

that is the site you need. i get my credit report every month

so you see. paying a company £4 a month with the deal i get (i posted the deal on the forum a while back) is helping me out in the long run

[Stigger]

Originally Posted by xxxhustlerxxx

each time you open a bank account with a high stret bank. they do a credit check.

thats not true mate , most do but not every, some just do a credit score, some do nothing.

even small branches that are suppoed to do not always, i have walked in to small branches and opened accounts with just a few letters, no photo id, nothing, some small braches are desparate for your custom and if you have the gift of the gab, balls of steal and a few hudered quid to open an account then its possible.

[xxxhustlerxxx]

i ment normal high street banks. hsbc, llyods, natwest, rbs, barclays, halifax

[Stigger]

Originally Posted by xxxhustlerxxx

i ment normal high street banks. hsbc, llyods, natwest, rbs, halifax

So did i

[xxxhustlerxxx]

haha well if you can walk into hsbc and open a account without photo id, a letter and credit check then you must be god because every single person in this country has to have a credit check due to overdrafts!

[Stigger]

Originally Posted by xxxhustlerxxx

haha well if you can walk into hsbc and open a account without photo id, a letter and credit check then you must be god because every single person in this country has to have a credit check due to overdrafts!

look mate im not here to argure about something that you clearly know nothing about.

[xxxhustlerxxx]

hahaha daaammm u make me laugh

[Stigger]

Originally Posted by xxxhustlerxxx

hahaha daaammm u make me laugh

here we go again.

Whys that, i can back up what i say can you.

Heres one for you, which saver accounts have overdrafts ?

Another, credit checks are done or not done at the bank/branches discretion.

[Christianm]

Not all banks are credit checked , some are electronic verified only secure trust being one as its done via your debit card online for address verification only.Coop basic cash account was only electric checked also