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Will bad credit make it harder for me??
 

Hi Guys,

Im new here....Firstly just want to say this is a great site with a lot of useful info!!

Ive been suspended from ebay 4 times now and had 2 paypal accounts restricted.

After reading some of the threads i think im going to start completely fresh with all new bank,address,telephone details and try to stay under the radar.

Just wondering though... (sorry if i have missed this somewhere else on the forum) I have bad credit so it's hard for me to open a bank account for a start, let alone set it all up with paypal and ebay, then CONTINUE selling!!

Does anyone know where i can open a bank account who accept bad credit??

Also, ive seen a few sites out there who offer anonymous ebay accounts for a reasonable fee (compared to what can be made on ebay). Does anyone have any experience with these websites??

Thanks for your help in advance peeps :)

HI:
Usually your local bank will just use chex systems, to open acct,
Possibly try a Business acct- you would be the signature,
But it will work for Ebay/paypal, also ask them for a debit card- which will also be useful..

yeah not sure about that!!

is it really that easy to just open up a business account???

also i know halifax are quite good, i have screwed credit and they accepted me, im currently waiting on Alliance & Leicester aswell as they were also recommended to me.

Hi:
You can use a DBA, (doing business as), pretty cheap ,
I use Wamu, also BB+T, also Bank of America, also Wamu allows opening on line, maybe you can call them, ask what their requirements are?

I think you should try Wamu- with a personal acct, via phone... get the debit card thats free

i thought wamu was only available to US users??

2 good accounts here in the Uk for those with poor credit ratings are Abbey National Basic Account which offers direct debit and Alliance and Leicester's Basic Account. These will give you an account based on that you are NOT an Undischarged bankrupt, or have a record of fraud, obviously banks can change their scope when it suits themselves yet these are the better for acceptance.

Getting a business bank account will be hard to get here in the UK with anyone having adverse / poor credit history.

eBay Accounts for Sale - eBay Suspension & Paypal Limited Forums

Oh... and PM the seller if your interested.

lolllllll....I think 'ebayhateluv' is forgetting that this is the UK section.

Anyway, I didn't think that they did credit checks when opening a regular, bog-standard bank account. You're not being given any money by credit afterall, right? It's just an empty bank account for you to put money in. I don't see why your credit rating comes into it.

I've opened up 2 bank accounts this year. My credit rating isn't great, but it's not that bad either.

I used Halifax and Natwest. Both were online applications via their website. Soon after I received their 'welcome pack' in the post with a letter saying I need to go to one of their branches to show some i.d. Took my passport and a utility bill, and my account was ready to go.

great thanks for all your help guys, i will try out some of your suggestions and get back to you with how i got on.

I love this site btw, its great and really useful.

Thanks again!!

Suggest you get a free copy of your credit file from Experian B4 you create any new bank accounts. That way you know exactly what the situation is. This may also be an instance where you could go to a bank, make your account and create a working relationship with them. Can be of help to be known by your bank given that UK sellers are lumbered with paypal.:rolleyes:

Opening a savings account will be fine (I think), it's just a current account may be harder if you have bad credit rating.

yeah i can support what has been submitted here

last week i applied through 3 banks, and i have really bad credit history.

1) Halifax cash account - Accepted
2) Alliance & Leicester - Premier Current Account - Accepted
3) Abbey National - Basic Account - Accepted

4) Halifax Current Account - Declined

i dont know why this is the case but i think its because i perviously had a LLoyds account which went wrong, and i know these two banks now share info....

Anyway all the accounts i have been accepted on all support the use of DD and all can be linked to different Paypal accounts.... now i just have to make sure i dont get linked in anyway and keep in stealth!!! otherwise all this effort with be pointless.....

The difference, basically, is this:

All the main UK banks offer variously named "basic" accounts (accounts 1-3 listed above by mangler being examples) as well as "current" accounts.

The basic accounts are "no strings" accounts; you will get no overdraft facilities, no chequebook etc and are frequently used to receive state benefit payments. No credit checks are undertaken on these; you'll simply need to verify your identity and address and you'll get one no problems. They do allow direct debits.

Current accounts, such as mangler's account No 4 above, because they come with more facilities, such as overdrafts, are subject to credit checks and are harder to get if you have a bad credit rating.

Savings accounts don't usually require credit checks but very often won't come with direct debit facilities either.

Hope this helps clarify.