Really need help with bank account for PayPal

[Keithlan1978]

Hi everyone

Great forum and I'm hoping somebody can help me so here goes,I'm struggling to open bank accounts as I was declared bankrupt last year, I was discharged in July this year and I'm now trying to open bank accounts but have been refused by 2 banks this week

I'm pretty certain I will be able to open an account with co op but other banks are refusing me so I've searched the Internet and my only other option seems to be prepaid bank accounts

I have no problem paying the monthly fee for prepaid bank accounts as they will pay for themselves when I'm selling on eBay but my problem is which ones and are they ok to use with PayPal as a bank account for verifying my account?

Really hope someone can help me out and hopefully some people have used them and can recommend ones that are good to use with PayPal

Thanks

P.S if this question is in the wrong section I apologise

[GreenBean]

It's not in the wrong section

I'll be blunt.

Whatever else you are doing, stop applying for bank accounts right now.

You do not want to be going any near banks that can mark your credit score. Quite possibly this might have happened already.

All is not lost. I can't recall which wonderful government made it law, but it is a LEGAL fact that anyone in the UK is entitled to a basic bank account.
This allows stealthers in your position to function.
Carefully selecting a bank account is doable.

[Keithlan1978]

Thanks for your reply, so far I have tried santander online and I went to TSB yesterday and tried in branch and was refused an account

I have called a few prepaid companies up were I can get a bank account no problem for a fee of around £10-12 a month. That isn't a problem they offer DD facilities and everything that a normal bank does so should be ideal for paypal. I wanted to see if anyone else is using prepaid accounts and if so which ones

I thought maybe I could use 2 of them for now on 2 accounts till I'm hopefully able to open some proper accounts. The prepaid ones are ideal for me as other people can just open as many accounts as they want within reason. Due to my situation I couldn't do that. I might be lucky enough to to get 1 or 2 open but certainly wouldn't be able to open lots

Thanks again

[yeff]

Hi, quite a few of the peeps on here use pre-paid accounts with no problems, as you say for £12-15 per month it is nothing to get back up and running again.

[sidebetz]

can´t you open an neteller account?

[derbydave]

why pay when you don't have to?

Basic current account - Current accounts - NatWest
RBS Basic account | personal banking | RBS
Halifax | Bank Accounts | Basic Bank Account| Easycash
The Co-operative Bank | Cashminder

if you've got a passport you'll get the first 2 without a problem. you should get the halifax one fairly easily too. you'll need to phone the co-op up. all free

[isitworththestress]

Originally Posted by GreenBean™

It's not in the wrong section

I'll be blunt.

Whatever else you are doing, stop applying for bank accounts right now.

You do not want to be going any near banks that can mark your credit score. Quite possibly this might have happened already.

All is not lost. I can't recall which wonderful government made it law, but it is a LEGAL fact that anyone in the UK is entitled to a basic bank account.
This allows stealthers in your position to function.
Carefully selecting a bank account is doable.

Not in this case, as they are bankrupt there is only one bank that will offer them an account now, as the CoOp have just opted out of the scheme for bankrupts and CCJs.

Have you tried Barclays as that is the only bank that will offer an account to bankrupts and people with CCJ's.

You can get lucky sometimes with banks but more often than not your credit score will kill you.

Someone on here mentioned credit union but not sure what they are like so have no idea if they would work.

[GreenBean]

Double check this.

A discharged bankrupt may be entitled to a bank account. Post was made on that basis.

[isitworththestress]

Originally Posted by GreenBean™

Double check this.

A discharged bankrupt may be entitled to a bank account. Post was made on that basis.

The discharge would not be marked and the banks will not look beyond that, you can ask them for an explanation but it is normally the bog standard answer of credit scoring but it will tell you which company they are using.

They could start start looking at the methods of clearing it from their credit rating by going to the credit reference companies.

This site may help

Credit and Credit Reference Agencies: Advice for Individuals - ICO

Most of them have the option for you to look at your report for free if you go to their sites.

But one word of advice before you go to them remember they will want all your data and if you are hiding from any past debts they can suddenly reappear after you deal with them.

[Keithlan1978]

Thanks for your replies guys I really appreciate it,co op bank will give me a bank account now as I'm discharged but could only get 1 account or maybe a second after I've been with them a month or so

Barclays do offer accounts even to people that are still bankrupt but the problem is when I was declared bankrupt I had a loan and credit card with them so not sure they would give me an account now even though I'm at a new address now

I've called credit union as I seen people on this forum mention them but at the moment they don't offer direct debit facilities so no good to me till they do

As for prepaid accounts they seem like my best/quickest option till I can sort proper bank accounts out and if anyone can recommend the best ones I'd be really really great full as I've looked over the forum and searched for prepaid accounts and can't seem to find any that are recommended

Thanks again for all your help

[Batman]

my credit rating is fairly sh1t, but maintaining and improving it at the moment so will open some accounts in due time.

[Keithlan1978]

Originally Posted by taj

my credit rating is fairly sh1t, but maintaining and improving it at the moment so will open some accounts in due time.

Hi taj

Do you use normal bank accounts at the moment or prepaid bank accounts?

[Batman]

Originally Posted by Keithlan1978

Hi taj

Do you use normal bank accounts at the moment or prepaid bank accounts?

normal, never really looked into prepaid but i am as of now..

[Keithlan1978]

Originally Posted by taj

normal, never really looked into prepaid but i am as of now..

I'm going to do the same mate if you find any good ones and they work fine with PayPal let me know and I will do the same

[Jigsaw]

Here is a decent prepaid one you should definitely signup for:

MasterCard Prepaid Credit Cards | Instant Approval Cashplus Card

Register with your real details and make sure your account status is Total Access before attempting to verify your bank with PayPal, as they don't accept bank payments with an Express Access account. Read here to learn more.

[Keithlan1978]

Originally Posted by Jigsaw

Here is a decent prepaid one you should definitely signup for:

MasterCard Prepaid Credit Cards | Instant Approval Cashplus Card

Register with your real details and make sure your account status is Total Access before attempting to verify your bank with PayPal, as they don't accept bank payments with an Express Access account. Read here to learn more.

Thanks i really appreciate that and will sign up for one of them

[yeff]

Yes if you can get 2 accounts just make sure everything is done right with regards setting up your accounts, as you do not want to lose them for the sake of rushing to get back selling and you make a silly mistake.

[rsot]

Rebuild your credit history slowly - up in Canada takes years to rebuild.

[Keithlan1978]

Thanks again guys I will just start off slow and hopefully everything will be ok

[Batman]

Originally Posted by Jigsaw

Here is a decent prepaid one you should definitely signup for:

MasterCard Prepaid Credit Cards | Instant Approval Cashplus Card

Register with your real details and make sure your account status is Total Access before attempting to verify your bank with PayPal, as they don't accept bank payments with an Express Access account. Read here to learn more.

just applied and accepted for the card should receive the gold mastercard within 3-5 days and hopefully goes good.

[Keithlan1978]

Originally Posted by taj

just applied and accepted for the card should receive the gold mastercard within 3-5 days and hopefully goes good.

Great thanks for letting me know, I'll be applying for one of these myself

[dibley69]

Originally Posted by taj

just applied and accepted for the card should receive the gold mastercard within 3-5 days and hopefully goes good.

let me know how you get on with Paypal.
i have just read the page but done see where its a bank account? just a c/card??
or am i being stupid tonight? :-)