Online or Virtual bank

[thekid]

what is a virtual bank
and is there any uk virtual bank

[mantisinc]

No such thing.

[GreenBean]

Mantis is correct. Virtually impossible to find a virtual bank in the UK.
There are banks that allow online banking. (Which we know)

[thekid]

yes there is
they are on my other thread

[GreenBean]

Thatkid Read your question again.....'Is there a virtual UK bank'. And the answer is still NO. Those on your other thread are relevant to the USA, which when I did geography was a different country from the UK. Only this site smile.co.uk - the internet bank
is the online or internet bank.

[thekid]

GreenBean i didnt say how many uk virtual banks there
atleast there is one uk virual bank account

and i am from uk so i am trying to help the people from the uk as most of the members are from usa and only talk about there ebay so there has to be someone helping the people from the uk

so the kid is here

[badebay]

@~###@~#!!!~!++@@~### ouch !! yea greenbean !! us Brits ; we put ausie on the map ..slap !! ouch !!! ( just kidding )

[thekid]

smile.co.uk

is really good as no identity is needed to open a savings account and can be created in about 5 minutes
but it take a while to get conformation if you have been accepted.
plus you get a visa card

this is a real good alternative to a high street bank as you can have lots of bank accounts created really fast and can be used on paypal for confirmation.

[pauluss]

for a UK bank account to be used with PayPal it MUST MUST MUST support direct debits

I have said this many times before and still people insisit on advising adding savings accounts that will only lead to the PayPal set up failing

[thekid]

i don't know what you are talking about pauluss
i had opened a halifax savings account and it worked fine with paypal

[GreenBean]

Pauluss is correct with his comments. You may well have opened your Halifax savings account but there is an outside chance that the mandate for paypal will be returned and the account is no use. IF that account does not accept Direct Debit (which many Halifax do not), you get the initial approval and then it is withdrawn.

[ebayhateluv]

Have u guys attempted BOFI ? Bank of the Internet??

[thekid]

is it based uk

[ebayhateluv]

HI: NO- it is u.s.a. based--but i do not know if they entertain out of usa? but worth a shot--- i do know they are offering high interest ck accts!!!

[greg2414]

Not all savings are useless lol, i have like 6 with barclays and all accept dd's also i have 2 with halifax which have not had a mandate returned.

I tell you why the mandate is returning, is because you lot are just opening the account online and you think thatsd it;s open....... it's not. After that you need to go to your bank and meet someone show your i.d etc etc then deposit £1+ then it is active. Before that, any payments or dd's setup will be blocked.

p.s Halifax wont call you or mail you to go in, i found this out by ringing.

[thekid]

see i made my point

greg2414 is from uk and he knows what he is talking about

saving accounts can be used

everytime they suspend you off ebay do you want to keep going the the high street bank and wait for them to open you account in two weeks

i don't think so !

[greg2414]

I dont care what anyone else say's they do work, full stop!

Make sure it is actualy activated. Like i said before Halifax wont tell you to do this, BUT it must be done.

Last im saying on this subject as it's like a broken record

[GreenBean]

..Kid, you are so right. No one can risk going up the High Street and opening banks. So if the account gets opened, funded AND works with paypal, then all is GREAT.
As greg2414 & you have pointed out a little work gets that verified paypal account. Good posts! Hope that other UK users understand NOW what to do.

[thekid]

smile.co.uk

ask us to send identification

didnt know this is sending photocopys ok as it say authorised photocopys whatever that means

[ambercolour]

But if you are opening Bank accounts and then using a ⊗⊗⊗⊗ name on paypal accounts/ebay accounts isnt this a case of money laundering?

[thekid]

no this is the only way to stay on ebay and surviving
there is no other ways

[ambercolour]

kid I know what you are saying, but I am trying to look at it at a lawyer point of view. Is this a case of money laundering.
If you google it, it states "Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source".
So if we are using ⊗⊗⊗⊗ names on Paypal and eBay and its a tool to make money, is that money laundering ?
Myself and I hope it isn't, but you need to look at it at a legal point of view, because if you are caught Money laundering its a serious offence esp in USA/Europe.